Role of the Trustee. 1.1 The Trustee shall be responsible only for performing those functions specifically set forth in the Contribution Agreements and Arrangements and any Fund Use Agreements to which it is a signatory and shall not be subject to any other duties or responsibilities to the Fund Donors, the Consortium or any other CGIAR participant, including, without limitation, any duties or obligations that might otherwise apply to a fiduciary or trustee under general principles of trust or fiduciary law. Nothing in the Contribution Agreements and Arrangements shall be considered a waiver of any privileges or immunities of the World Bank’s Articles of Agreement or any applicable law, all of which are expressly reserved.
Role of the Trustee.
8.1 The trustee shall perform its role as specified in the Rules, Regulation and directives issued there under, this Deed and the Offering Document.
8.2 The Trustee shall nominate one or more of its officers to act as authorized persons for performing the Trustee’s functions and for interacting with the Management Company. Any change in such authorized persons shall be promptly notified to the Management Company.
8.3 The Trustee shall under prior intimation to the Management Company appoint, remove or replace from time to time one or more bank(s) and/or other depository company(ies) etc. to act as the Custodian(s) for holding and protecting the Trust Property and every part thereof and for generally performing the custodial services at one or more locations and on such terms as the Trustee and the Management Company may mutually agree and to be incorporated in custodial services agreement(s) to be entered into between the Trustee and the Custodian(s), except where the Trustee itself is acting as a Custodian.
8.4 The Trustee shall be responsible for the acts and omissions of all persons to whom it may delegate any of its duties, as if these were its own acts and omissions and shall account to the Trust for any loss in value of the Trust Property where such loss has been caused by gross negligence or any reckless act or omission of the Trustee or any of its directors, officers, nominees or agents.
8.5 The Trustee shall exercise all due diligence and vigilance in carrying out its duties and in protecting the interests of the Unit Holder(s). The Trustee shall not be under any liability on account of anything done or suffered by the Trust, if the Trustee had acted in good faith in performance of its duties under this Trust Deed or in accordance with or pursuant to any request of the Management Company provided it is not in conflict with the provisions of this Trust Deed or the Rules and Regulations. Whenever pursuant to any provision of this Trust Deed, any instruction, certificate, notice, direction or other communication is required to be given by the Management Company, the Trustee may accept as sufficient evidence thereof:
a) a document signed or purporting to be signed on behalf of the Management Company by any authorized representative(s) whose signature the Trustee is for the time being authorized in writing by the Management Committee to accept; and
b) any Instructions received online through the software solution adopted by the Management Company/Tru...
Role of the Trustee. The Trustee’s role is to do the following (and in respect of clauses 4.2(c), (d), (h)(ii),
Role of the Trustee. The Trustee is responsible for: receiving, collecting, recording and aggregating as necessary Confidential Information and any other information which will be used in relation to the determination of costs and expenses to be paid by the Co-Registrant for a Letter of Access; managing the accounts related to the costs and expenses generated for preparation of the Joint Registration Dossier and the payments collected individually from each Co-Registrant for its Letter of Access; establishment and oversight of a bank account uniquely for these REACH purposes; and preparation and issuing invoices and financial statements foreseen by this Agreement.
Role of the Trustee. 5.1. The Trustee shall have the roles and responsibilities set forth in Section B.3 of Annex 2 to the Contribution Agreements and Arrangements.
5.2. The Fund Council and the Consortium acknowledge and agree that neither the Trustee nor the Fund Office, nor any part of the World Bank, has responsibility under the Contribution Agreements or Arrangements or otherwise for (i) confirming the use of funds from the CGIAR Fund (including Window 3 Funds); (ii) implementing, monitoring, supervising, evaluating, or providing quality assurance for activities funded by the CGIAR Fund; (iii) providing Fund Donors with financial, progress, results or impact reporting for activities funded by the CGIAR Fund; or (iv) any misuse or misprocurement by any entity other than the World Bank with respect to funds from the CGIAR Fund (including Window 3 Funds). The Consortium further acknowledges and agrees that the Trustee shall disburse funds requested by the Consortium for implementation of activities under the SRF on the basis of documented approvals by the Fund Council and proper Payment Requests from the Consortium in accordance with the Contribution Agreements or Arrangements, the Governance Framework, this Joint Agreement, the relevant CPA and any other relevant Fund Use Agreements, without requiring pre- or post-disbursement review by the Trustee of any CRP Proposals or other funding requests from the Consortium or any activities implemented thereunder. The Trustee shall have no responsibility for reviewing the appropriateness of any decision by the Fund Council or Payment Request from the Consortium and shall at all times be entitled to rely thereon.
5.3. Notwithstanding any other statement herein, any requirement or obligation on the part of the Trustee to disburse Window 1 and Window 2 Funds under this Joint Agreement or elsewhere shall at all times be qualified by and subject to the availability of funds in the CGIAR Fund that are not otherwise allocated.
Role of the Trustee. The role of the Trustee shall include:
10.1.1 accepting the Instruments of Acceptance deposited by the Contributors;
10.1.2 receiving payment for Shares subscribed by the Contributors in an account opened for CGIF and, until the Organizational Meeting is held, investing the proceeds in short-term money market instruments in accordance with ADB's investment guidelines;
10.1.3 after the Organizational Meeting is held, investing CGIF funds in accordance with the instructions of the Board of Directors;
10.1.4 distributing CGIF funds and other property pursuant to Articles 14 and 17;
10.1.5 facilitating the interaction between the Contributors, the Board of Directors and ADB;
10.1.6 providing treasury services and other back office support as requested by the Chief Executive Officer on a cost-recovery basis;
10.1.7 paying any costs or expenses, including making any payments from CGIF funds and other property to itself as Trustee, for the purpose of performing its duties as outlined in these Articles of Agreement;
10.1.8 appointing (i) the Chief Executive Officer upon selection by the Meeting of Contributors, (ii) all other Executive Staff of CGIF upon the recommendation of the Board of Directors, and (iii) all professional staff and other experts of CGIF upon the recommendation of the Chief Executive Officer;
10.1.9 terminating (i) the Chief Executive Officer and all other Executive Staff of CGIF upon the recommendation of the Board of Directors, and (ii) any professional staff and other experts of CGIF upon the recommendation of the Chief Executive Officer; and
10.1.10 terminating any Executive Staff or professional staff and other experts of CGIF, following suitable consultations with the Board of Directors or the Chief Executive Officer, respectively, who in the Trustee's opinion has breached ADB Operational Policies applicable to CGIF or caused reputational harm to ADB.
Role of the Trustee. 5.B.1 The Trustee shall invest the Trust Property from time to time at the direction of the Management Company strictly in terms of the provisions contained and the conditions stipulated in this Deed, the Offering Document(s), the Rules or Regulations1 and the conditions (if any) which may be imposed by the SECP from time to time;
5.B.2 The Trustee has the responsibility for being the nominal owner and for the safe custody of the assets of the Unit Trusts on behalf of the beneficial owners (the Unit Holder(s)), within the framework of the Rules or Regulations1, the Trust Deed establishing the Unit Trust and Offering Document(s) issued for the Unit Trust.
5.B.3 The Trustee shall have all the obligations entrusted to its under the rules, the trustee .Act 1882,this Trust Deed and the offering document .
Role of the Trustee. The Trustee‟s role is to do the following (and in respect of clauses 4.2(c), (d), (h)(ii),
(i) and (k) in relation to a Liable Entity, the Trustee shall only be obliged to take such steps to the extent that the Liable Entity is under the control or direction of the Trustee):
(a) hold in the Charitable Fund the benefit of the Funding Obligations and the obligation of the Performing Subsidiary (if applicable) to pay the Wind-Up or Reconstruction Amount in accordance with clause 10, the JHISE Guarantee and of JHISE‟s covenants and obligations under this deed and the Related Agreements to ensure the payment by the JHISE Group of the JHISE Contributions under this deed and any Cross Guarantee given pursuant to clause 15.7, and enforce the same as may be required from time to time;
(b) in its capacity as trustee of the Charitable Fund be the creditor of the Performing Subsidiary and JHISE for payments (whether actually or contingently) due and payable to the Trustee under this deed and receive and give a proper receipt for such amounts;
Role of the Trustee. 5.1. The Trustee shall have the roles and responsibilities set forth in Section B.3 of Annex 2 to the Contribution Agreements and Arrangements.
Role of the Trustee. 5.B.1 The Trustee shall take into its custody or under its control all the property of the Scheme and hold it in trust for the Unit Holders in accordance with the law and the provisions of the Constitutive Documents and the cash and registerable assets shall be registered in the name of, or to the order of, the Trustee.
5.B.2 The Trustee has the responsibility to ensure timely delivery to the Management Company of statements of accounts and transaction advices for banking and custodial accounts in the name and under the control of the Trustee.
