Trust Investments. Funds held in a fiduciary capacity shall be invested according to the instrument establishing the fiduciary relationship and according to law. Where such instrument does not specify the character and class of investments to be made and does not vest in the Association a discretion in the matter, funds held pursuant to such instrument shall be invested in investments in which corporate fiduciaries may invest under law.
Trust Investments. 8. Investment of the trusts generally --------------------------------------------------------------------------------
8.1 Authorised Investments only Subject to this Deed and the relevant Supplementary Terms Notice, each Trust shall comprise only assets and property which are Authorised Investments as at the date of their acquisition.
8.2 Manager selects investments Subject to the terms of this Deed:
(a) the Manager alone shall have absolute and uncontrolled discretion to determine, and it shall be the duty of the Manager to: Master Trust Xxxx Xxxxx Xxxxx & Xxxxxxx --------------------------------------------------------------------------------
(i) recommend or propose in writing to the Trustee (which may be under a Supplementary Terms Notice), the manner in which any moneys forming part of a Trust shall be invested and what purchases, sales, transfers, exchanges, collections, realisations or alterations of Assets shall be effected and when and how the same should be effected; and
(ii) give to the Trustee all directions necessary to give effect to the recommendations or proposals referred to in paragraph (i) above and such other directions which the Trustee may desire in relation to the above matters; and
(b) it shall be the role of the Trustee to give effect to all such directions of the Manager as are communicated by the Manager to the Trustee in accordance with this clause, but the Manager may not give any direction to the Trustee which conflicts with any applicable law, the terms of the Trust, including the Supplementary Terms Notice for that Trust or which could adversely affect the current ratings (if any) of the Notes. For the avoidance of doubt, except where the Transaction Documents provide otherwise, the Trustee is not required to take any action unless it has been directed to do so by the Manager.
Trust Investments. The Employer and the Investment Advisory Committee, if any, shall have responsibility to select Qualified Investments for the Trust Assets. The Employer and the Investment Advisory Committee, if any, may appoint a Registered Investment Advisor to the Trust by executing a written consulting or management agreement with said Registered Investment Advisor.
Trust Investments. In accordance with subparagraph 108(2)(b)(ii) and paragraph 132(6)(b) of the Income Tax Act, the only undertaking of the Trust shall be as contemplated by the aforesaid provisions of the Income Tax Act. The Trust shall invest primarily in immovable property.
Trust Investments. 6.1 The Trustee shall not be liable in discharging its duties hereunder, including without limitation its duty to invest and reinvest the Fund, if it acts without negligence, in good faith and in accordance with the terms of this Agreement and any applicable Federal or state laws, rules or regulations.
6.2 Subject to appointment of an Investment Manager pursuant to Section 6.6, or the Company and the Trustee having mutually agreed in a separate writing that the Trustee shall have and exercise investment discretion with respect to Trust Fund assets, the Company's Corporate Vice President - Investment Management shall have complete discretion with respect to the investment of such assets at all times other than during a Potential Change in Control Period and upon a Change in Control, and shall direct the Trustee accordingly. During a Potential Change in Control Period and upon a Change in Control, the Trustee shall have and exercise sole investment discretion with respect to all assets of the Trust, including the power to appoint or terminate an Investment Manager (who may be an affiliate of the Trustee), as more fully described in Section 6.6. Subject to the foregoing, the Trustee (or the Company's Corporate Vice President - Investment Management or Investment Manager, to the extent applicable) shall have the power in investing and reinvesting the Trust Fund in its sole discretion:
(a) To invest and reinvest in any property, real, personal or mixed, wherever situated and whether or not productive of income or consisting of wasting assets, including without limitation, common and preferred stocks, bonds, notes, debentures (including convertible stocks and securities but not including any stock or security of the Trustee, an Investment Manager (as provided in Section 6.6 of this Agreement) or any affiliate thereof), leaseholds, mortgages, certificates of deposit or demand or time deposits (including any such deposits with the Trustee), shares of investment companies and mutual funds, interests in partnerships and trusts, insurance policies and annuity contracts (in accordance with Section 4.6 hereof), and oil, mineral or gas properties, royalties, interests or rights, without being limited to the classes of property in which trustees are authorized to invest by any law or any rule of court of any state and without regard to the proportion any such property may bear to the entire amount of the Trust Fund;
(b) To invest and reinvest all or any portion of the Tr...
Trust Investments. All investments made under the Rabbi Trust established under this Article shall conform with the investment options available under Article X and as further limited by the terms of the Rabbi Trust.
Trust Investments. The Trustee shall invest the funds held in trust which are required to be maintained as reserves (the “Reserve Funds”) in accordance with the provisions of California Insurance Code Sections 11521.2, 1170 through 1177, and 1179 through 1182, as amended from time to time. The Trustee shall invest any funds in excess of the Reserve Funds in accordance with the California Uniform Prudent Investor Act.
Trust Investments