Status of Trustee. The Trustee acknowledges its status as a "fiduciary" of the Plan within the meaning of ERISA.
Status of Trustee. An Employee appointed as Trustee or to the Investment Committee shall receive no compensation for services rendered in such capacity and will be considered to have resigned if he or she terminates Employment and at least one other person continues to act as Trustee or as the Investment Committee, as the case may be. If Xxxxxxx Xxxxx Bank & Trust Co., FSB is the sole Trustee, the Primary Employer shall appoint an Investment Committee and Xxxxxxx Xxxxx Bank & Trust Co., FSB shall be a nondiscretionary directed trustee.
Status of Trustee. The Trustee shall act only as a directed Trustee and shall exercise no discretion over the investment or distribution of the Trust Fund unless and only if the Trustee has not received written direction from the Committee with respect to a particular asset held in the Trust Fund. The Trustee shall invest and reinvest the Trust Fund in accordance with investment directions as provided in Article 5. The Trustee will have no responsibility to review or question such investment directions or to review any investment to be acquired, held or disposed of pursuant to such investment directions or to make any recommendations with respect to the disposition or continued retention of any such investment. When accepting and implementing such investment directions, the Trustee will have no responsibility or liability for compliance with any applicable requirements concerning plan investments under the Plan or for any loss or diminution in value which results from the choice of investments for the Trust Fund. Whenever the Trustee is permitted or required to act upon instructions or directions of a Named Fiduciary, Plan Administrator, Plan Participant, or Investment Manager, the Trustee will have no responsibility or liability for any action taken or omitted by the Trustee in reliance thereon.
Status of Trustee. On the Bankruptcy of a General Partner, the trustee or debtor-in-possession (collectively, the “trustee”) automatically has the status of an assignee of that General Partner‟s Partnership Interest under Section 27 of the Texas Uniform Partnership Act, art. 6132b of the Texas Revised Civil Statutes Annotated. Therefore, the trustee would own the Partnership Interest of that General Partner in Bankruptcy, but would not have any rights with respect to specific property of the Partnership and would not have any rights with respect to the management of the Partnership‟s business or property. Furthermore, that General Partner in Bankruptcy would have no further rights to participate in the management of the Partnership or its property, and those managerial rights and duties shall be vested solely in the General Partner who is not in Bankruptcy (or if none, the successors of the General Partner in Bankruptcy, if the Partnership is reconstituted). Unless otherwise required by applicable law, it is the intent of the Partners that a voluntary filing of a case under Chapter 11 of the Bankruptcy Code, 11 U.S.C. §§101 et seq. by the Partnership or a General Partner not be considered to effect an automatic dissolution of the Partnership under the Act. Rather, that determination of whether or not to dissolve the Partnership should be made by the General Partner, subject to Approval of the Limited Partners, on a filing by the Partnership, and by the Approval of the Limited Partners on a filing by a General Partner.
Status of Trustee. Trustee shall be the agent of Beneficiary and Trustor hereunder, but only upon and limited solely to the rights, duties, powers, obligations, terms, covenants and conditions contained in this Deed of Trust; and Trustee’s rights, duties and obligations as agent hereunder shall be strictly limited to and construed in accordance with the terms of this Deed of Trust, Beneficiary and Trustor acknowledging their intent that no other right, duty or obligation shall be implied as a result of the agency relationship created hereunder.
Status of Trustee. The Trustee shall not be a named fiduciary under the Plan and shall not have the authority to interpret or construe the Plan.
Status of Trustee. 18 9.8 Trustee Reliance On Instruction.........................................19 9.9
Status of Trustee. The Trustee acknowledges its status as a “fiduciary” of the Plan within the meaning of applicable law, in its capacity as a non-discretionary directed trustee.
Status of Trustee. Trustee will be treated as an independent contractor for the Trust.
Status of Trustee. The Bank of New York Mellon Trust Company, N.A. acts as Trustee under this Agreement by virtue of its appointment as Trustee under the Indenture. The provisions of Indenture regarding the appointment of successor trustees shall be applied in such manner that any successor Trustee under the Indenture shall, upon its appointment, be the Trustee under this Agreement. Any successor Trustee shall be fully vested in the Escrow Account and in the rights, duties and obligations of the Trustee under this Agreement.
