The Investment Manager. In addition to the compensation paid to any Sub-Investment Manager as set forth in Article 1 above, the Investment Manager shall pay the organization costs of the Fund relating to the Portfolio. The Investment Manager also assumes expenses of the Fund relating to maintaining the staff and personnel, and providing the equipment, office space and facilities, necessary to perform its obligations under this Agreement.
The Investment Manager. Any Investment Manager appointed pursuant to Section 9.4 shall have sole responsibility for the investment of the portion of the assets of the Trust Fund to be managed and controlled by such Investment Manager. An Investment Manager may place orders for the purchase and sale of securities directly with brokers and dealers.
The Investment Manager. 10.8.1 The Trustee, if an Investment Committee is not appointed, Investment Committee, or the Participant or Beneficiary with respect to Participant-Directed Assets, may, by an instrument in writing, appoint one or more Investment Managers, who may be an affiliate of the Xxxxxxx Xxxxx Trust Company, to direct the Trustee in the investment of all or a specified portion of the assets of the Trust in property specified in Section 10.4. Any such Investment Manager shall be directed by the Trustee, if an Investment Committee is not appointed, Investment Committee, Participant or Beneficiary, as the case may be, to act in accordance with the procedures referred to in Section 10.5.5. If appointed, the Investment Committee shall notify the Trustee in writing before the effectiveness of the appointment or removal of any Investment Manager. If there is more than one Investment Manager whose appointment is effective under the Plan at any one time, the Trustee shall, upon written instructions from the Investment Committee, Participant or Beneficiary, establish separate funds for control by each such Investment Manager. The funds shall consist of those Trust Fund assets designated by the Investment Committee, Participant or Beneficiary.
10.8.2 Each person appointed as an Investment Manager shall be:
(A) an investment adviser registered under the Investment Advisers Act of 1940,
(B) a bank as defined in that Act, or
(C) an insurance company qualified to manage, acquire or dispose of any asset of the Plan under the laws of more than one state.
10.8.3 Each Investment Manager shall acknowledge in writing that it is a "fiduciary" (as defined in ERISA Section 3(21)) with respect to the Plan. The Trustee, or the Investment Committee if appointed, shall enter into an agreement with each Investment Manager specifying the duties and compensation of such Investment Manager and the other terms and conditions under which such Investment Manager shall be retained. Neither the Trustee nor the Investment Committee, if appointed, shall be liable for any act or omission of any Investment Manager and shall not be liable for following the advice of any Investment Manager with respect to any duties delegated to any Investment Manager.
10.8.4 The Trustee, or Investment Committee if appointed, or the Participant or Beneficiary, if applicable with respect to Participant-Directed Assets, shall have the power to determine the amount of Trust Fund assets to be invested pursuant to the direction ...
The Investment Manager. PMC Asset shall act as the investment adviser to the Company and is registered with the applicable governmental authorities of the State of Texas. The Company hereto engages the services of PMC Asset as the Company's Investment Manager.
The Investment Manager. Investment of the Master Custodial Administration Agreement may be directed in whole or in part by an “Investment Manager”, as defined in Section 3(38) of ERISA and appointed in accordance with Section 402(c)(3) and/or as defined by federal and/or state securities laws. The Investment Manager shall be an investment advisor registered with the Securities and Exchange Commission (“SEC”) and/or appropriate state securities regulatory agency. The Master Custodial Administration Agreement Administrator shall be entitled to rely entirely, without any independent investigation, that an Investment Manager designated as applying to the Master Custodial Administration Agreement is valid until such time as it is otherwise notified in writing. The Plan Administrator shall promptly deliver to the Master Custodial Administration Agreement Administrator prior written notice of the removal or replacement of any Investment Manager. Parties agree to use the definition of “Investment Manager” under ERISA as specified only for purposes of defining this term, and acknowledge that no plans subject to Title I of ERISA shall be a part of this Master Custodial Administration Agreement.
The Investment Manager. The Trustee, if an Investment Committee is not appointed, Investment Committee, or the Participant or Beneficiary with respect to Participant-Directed Assets, may, by an instrument in writing, appoint one or more Investment Managers, who may be an affiliate of the Mexxxxx Lyxxx Xrust Company, to direct the Trustee in the investment of all or a specified portion of the assets of the Trust in property specified in Section 10.4. Any such Investment Manager shall be directed by the Trustee, if an Investment Committee is not appointed, Investment Committee, Participant or Beneficiary, as the case may be, to act in accordance with the procedures referred to in Section 10.5.5. If appointed, the Investment Committee shall notify the Trustee in writing before the effectiveness of the appointment or removal of any Investment Manager. If there is more than one Investment Manager whose appointment is effective under the Plan at any one time, the Trustee shall, upon written instructions from the Investment Committee, Participant or Beneficiary, establish separate funds for control by each such Investment Manager. The funds shall consist of those Trust Fund assets designated by the Investment Committee, Participant or Beneficiary.
The Investment Manager. The Investment Manager's rights under Section 2 of the Expense Limitation Agreement are hereby terminated, and any fees previously waived or expenses reimbursed to the Fund by the Investment Manager prior to effective date of this Agreement are permanently waived by the Investment Manager.
The Investment Manager. PMC Advisers shall act as the investment adviser to the Company, registered under the Investment Advisers Act of 1940, as amended. The Company hereto engages the services of PMC Advisers as the Company's Investment Manager.
The Investment Manager. The Investment Manager is a licensed corporation under the SFO to carry on Type 1 (dealing in securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activities. As at the date of this announcement, the Investment Manager did not provide investment management services to any company other than the Group. The background and relevant experience of the responsible officers and/or directors who are responsible for asset management business of the Investment Manager are as follows: XXXX Nap Xxx, Xxxxxx has been an executive director and a responsible officer of the Investment Manager since 1994. Xx. Xxxx has 29 years of experience in commercial and investment banking and asset management. He is currently the chairman, an executive director and acting chief executive officer of Kaisun Energy Group Limited (stock code: 8203), a company listed on the Growth Enterprise Market (“GEM”) of the Stock Exchange. He is also a non-executive director of North Asia Strategic Holdings Limited (stock code: 8080), a company listed on the GEM of the Stock Exchange since February 2013 and a non-executive director of HNA Infrastructure Company Limited (formerly known as Hainan Meilan International Airport Company Limited) (stock code: 357) since October 2007, a company listed on the Main Board of the Stock Exchange. Xx. Xxxx was the deputy manager of Credit Agricole from 1986 to 1994, where he was in charge of the China business. From 1992 to 1994, he was also the co-head of Credit Agricole Asset Management South East Asia Limited. He was also an executive director of Oriental Patron Securities Limited from 2008 to 2013 and SanJohn Capital Limited from 2007 to 2011. Xx. Xxxx obtained a master degree majoring in international marketing from the University of Strathclyde, the United Kingdom in July 1995, and a diploma in China investment and Trade Study from Peking University in November 1989. Xx. Xxxx is currently licensed as a responsible officer under the SFO to carry on Type 1 (dealing in securities), Type 6 (advising on corporate finance) and Type 9 (asset management) regulated activities. Given the Investment Manager is wholly owned by OPFSGL, a company which is indirectly controlled by Messrs. Xxxxx Xxxxx and Xxxxx Xxx Xxxx, the executive Directors, conflicts may arise in the allocation of investment opportunities identified by Messrs. Xxxxx Xxxxx and Xxxxx Xxx Xxxx between the Company and the funds administered by the Investment Manager. H...
The Investment Manager. 92 13.1 Appointment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 13.2 Responsibility. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 13.3 Act in Interest of Participants. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92 13.4 Directions from Investment Manager. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92
