Relationship of Fiduciaries. Each fiduciary of the Plan and the Trust shall be solely responsible for its own acts or omissions. The Trustee shall have no duty to question any other Plan fiduciary's performance of fiduciary duties allocated to such other fiduciary pursuant to the Plan. The Trustee shall not be responsible for the breach of responsibility by any other Plan fiduciary except as required under ERISA.
Relationship of Fiduciaries. Each fiduciary of each Participant in a Participating Plan and the Master Custodial Administration Agreement shall be solely responsible for its own acts or omissions or to question any instruction or representation by the Employer, the Plan Administrator, an Investment Manager, or other authorized person. To the extent permitted under applicable law, the Master Custodial Administration Agreement Administrator shall have no duty to question any fiduciary’s performance of its duties.
Relationship of Fiduciaries. Each fiduciary of the Plan and ___________________________ this Trust shall be solely responsible for his own acts or omissions. The Trustee shall have no duty to question any other fiduciary's performance of fiduciary duties allocated to other fiduciaries by the Plan Administrator. No fiduciary shall be responsible for breach by another fiduciary unless he participates knowingly in, or knowingly undertakes to conceal, an act or omission of such other fiduciary, knowing such act or omission is a breach; he has actual knowledge of a breach by such other fiduciary and fails to make reasonable effort under the circumstances to remedy the breach; or his failure to perform his own specific fiduciary duties has enabled another fiduciary to commit a breach.
Relationship of Fiduciaries. It is the intent of all fiduciaries under the Plan and Trust that each fiduciary shall be solely responsible for its own acts or omissions. No fiduciary shall have the duty to question whether any other fiduciary is fulfilling all of the responsibilities imposed upon such other fiduciary. No fiduciary shall have any liability for a breach of fiduciary responsibility of another fiduciary with respect to the Plan and Trust unless (1) he participates knowingly in such breach or knowingly undertakes to conceal such breach, knowing such act or omission to be a breach, (2) has actual knowledge of such breach and fails to take responsible remedial action to remedy said breach, or (3) through this negligence in performing his own specific fiduciary responsibilities which give rise to his status as a fiduciary, has enabled such other fiduciary to commit a breach of the latter's fiduciary responsibilities. 5.3 Duty of Care Subject to the investment directions in Section 5 of the Plan and Section 5.4 of the Trust, the Trustee shall discharge its responsibilities for the investment, management and control of the Trust assets solely in the interest of the Participants and beneficiaries of the Plan for the exclusive purpose of providing benefits to Participants and their beneficiaries and defraying reasonable expenses of administering the Plan with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims. All actions by the Trustee shall be in accordance with the documents and instruments governing the Plan and this Trust. 5.4
