Common use of The Investment Manager Clause in Contracts

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. 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, term and acknowledge that no plans subject to Title I of ERISA shall be a part of this Master Custodial Administration Agreement.