The Fund Manager Clause Samples
The 'Fund Manager' clause defines the role, responsibilities, and authority of the individual or entity appointed to manage the fund's assets. It typically outlines the manager's duties, such as making investment decisions, overseeing fund operations, and reporting to investors or a board. For example, the clause may specify the manager's discretion in selecting investments or their obligation to act in the best interests of the fund. This clause is essential for clarifying who is in charge of fund management and what powers and obligations they hold, thereby ensuring accountability and transparency for all parties involved.
The Fund Manager shall cause all money paid into the bank and Transit Account to be transferred to a Trustee Account of the Fund Manager of this Plan in the same bank, to be known as "Operating Engineers Local Union No. 3
The Fund Manager. The Fund Manager will establish a separate ledger account under its financial regulations and rules for the receipt and administration of the funds received pursuant to Administrative Arrangement (hereinafter, the “Fund Account”). The Fund Account will be administered by the Fund Manager in accordance with the regulations, rules, directives and procedures applicable to it, including those relating to interest. The Fund Account will be subject exclusively to the internal and external auditing procedures laid down in the financial regulations, rules, directives and procedures applicable to the Fund Manager.
The Fund Manager. (a) may, with the consent of the Trustee, convene a Meeting of the Unitholders at such times as it deems necessary.
(b) shall at the request of the Trustee, convene a Meeting of the Unitholders at such times as the Trustee deems necessary. PROVIDED THAT the Fund Manager shall be obligated to provide audited financial statements of the Fund (including but not limit ed to abridged versions of the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Cashflows and the Statement of Changes in Equity) and other relevant information about the Fund to the Unitholders at least once every financia l year.
The Fund Manager. 9.1.1 Except as otherwise provided herein, the Fund Manager shall have the responsibility and authority to control the day-to-day operation and administration of the Trust Fund and the Plan, subject to the terms of this Agreement, the Plan, any written agreement between the Board and the Fund Manager, and any policies, procedures and other rules that may from time to time be established by the Board.
9.1.2 Such responsibilities shall include, without limitation, the following:
9.1.2.1 functions assigned to the Fund Manager under the terms of this Agreement, the Plan, or any written agreement between the Board and the Fund Manager;
9.1.2.2 functions assigned to the Fund Manager by the Board;
9.1.2.3 initial determinations as to the eligibility for, and the amount of, benefits for Covered Employees (and their Beneficiaries), and the certification thereof to the Board;
9.1.2.4 payment of all professional and other fees, taxes, expenses, charges or other costs incidental to the operation and management of the Trust Fund and the Plan (subject to Board approval);
9.1.2.5 supervision of the preparation and filing of all government and other reports required to be filed by the Plan and the Trust under ERISA or the Code (including, without limitation, the Plan’s annual Forms 990 and 5500 and Summary Annual Reports, Summary Plan Descriptions, and Summaries of Material Modifications); and
9.1.2.6 maintenance of all records of the Trust Fund and the Plan (other than those required to be maintained by Investment Managers, Custodians and other persons duly designated by the Board), and the provision of regular reports to the Board (or its Committees) concerning the operation of the Trust Fund or the Plan.
The Fund Manager. In the execution of the Selling Agreement, we shall be deemed to have acted as a representative of each of the Soliciting Dealers, and the Soliciting Dealers shall be deemed to be in privity of contract with each Series and the Fund Manager.