Common use of Trust Management Clause in Contracts

Trust Management. The trustee shall invest and reinvest the principal and income of the fund and keep the fund invested as a single fund, without distinction between principal and income, in accordance with general investment policies and guidelines which the grantor may communicate in writing to the trustee from time to time, subject, however, to the provisions of this section. In investing, reinvesting, exchanging, selling, and managing the fund, the trustee shall discharge its duties with respect to the fund solely in the interest of the beneficiary and with the care, skill, prudence, and diligence under the circumstances then prevailing which persons of xxxxxxxx, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of a like character and with like aims, except that: (A) Securities or other obligations of the grantor, or any other owner or operator of the facilities, or any of their affiliates as defined in the federal Investment Company Act of 1940, as amended (15 U.S.C. 80a-2(a)), shall not be acquired or held, unless they are securities or other obligations of the federal or a state government; (B) The trustee is authorized to invest the fund in time or demand deposits of the trustee, to the extent insured by an agency of the federal government, and in obligations of the federal government such as GNMA, FNMA, and FHLM bonds and certificates or state and municipal bonds rated BBB or higher by Standard and Poors or Baa or higher by Xxxxx’x investment services; and (C) For a reasonable time, not to exceed sixty days, the trustee is authorized to hold uninvested cash, awaiting investment or distribution, without liability for the payment of interest thereon.

Trust Management. The trustee Trustee shall invest and reinvest the principal and income of the fund Fund and keep the fund Fund invested as a single fund, without distinction between principal and income, in accordance with general investment policies and guidelines which the grantor Grantor may communicate in writing to the trustee Trustee from time to time, subject, however, to the provisions of this section. In investing, reinvesting, exchanging, selling, and managing the fundFund, the trustee Trustee shall discharge its duties with respect to the fund Fund solely in the interest of the beneficiary and with the care, skill, prudence, prudence and diligence under the circumstances then prevailing which persons of xxxxxxxxprudence, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of a like character and with like aims, except that: (Aa) Securities or other obligations of the grantorGrantor, or any other owner or operator of the facilities, or any of their affiliates as defined in the federal Investment Company Act of 1940, as amended (15 U.S.C. 80a-2(a)), shall not be acquired or held, unless they are securities or other obligations of the federal Federal or a state State government; (Bb) The trustee Trustee is authorized to invest the fund Fund in time or demand deposits of the trusteeTrustee, to the extent insured by an agency of the federal Federal government, and in obligations of the federal Federal government such as GNMA, FNMA, and FHLM bonds and certificates or state State and municipal Municipal bonds rated BBB or higher by Standard and Poors & Poor’s or Baa or higher by Xxxxx’x investment servicesInvestment Services; and (Cc) For a reasonable time, not to exceed sixty 60 days, the trustee Trustee is authorized to hold uninvested cash, awaiting investment or distribution, without liability for the payment of interest thereon.

Trust Management. The trustee Trustee shall invest and reinvest the principal and income of the fund Fund and keep the fund Fund invested as a single fund, without distinction between principal and income, in accordance with general investment policies and guidelines which the grantor Grantor may communicate in writing to the trustee Trustee from time to time, subject, however, to the provisions of this section. In investing, reinvesting, exchanging, selling, and managing the fundFund, the trustee Trustee shall discharge its duties with respect to the fund Fund solely in the interest of the beneficiary and with the care, skill, prudence, prudence and diligence under the circumstances then prevailing which persons of xxxxxxxxprudence, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of a like character and with like aims, except that: (Aa) Securities or other obligations of the grantorGrantor, or any other owner or operator of the facilities, or any of their affiliates as defined in the federal Investment Company Act of 1940, as amended (15 U.S.C. 80a-2(a)), shall not be acquired or held, unless they are securities or other obligations of the federal Federal or a state State government;. (Bb) The trustee Trustee is authorized to invest the fund Fund in time or demand deposits of the trusteeTrustee, to the extent insured by an agency of the federal Federal government, and in obligations of the federal Federal government such as GNMA, FNMA, and FHLM bonds and certificates or state State and municipal Municipal bonds rated BBB or higher by Standard and Poors & Poor’s or Baa or higher by Xxxxx’x investment servicesInvestment Services; and (Cc) For a reasonable time, not to exceed sixty 60 days, the trustee Trustee is authorized to hold uninvested cash, awaiting investment or distribution, without the liability for the payment of interest thereon.

Trust Management. The trustee Trustee shall invest and reinvest the principal and income of the fund Fund and keep the fund Fund invested as a single fund, without distinction between principal and income, in accordance with general investment policies and guidelines which the grantor Grantor may communicate in writing to the trustee Trustee from time to time, subject, however, to the provisions of this section. In investing, reinvesting, exchanging, selling, and managing the fundmanaging, the trustee Fund, the Trustee shall discharge its duties with respect to the fund Fund solely in the interest of the beneficiary Beneficiary and with the care, skill, prudence, and diligence under the circumstances then prevailing which persons of xxxxxxxxprudence, acting in a like capacity and familiar with such mattersmatter, would use in the conduct of an enterprise of a like character and with like aims, ; except that: (Aa) Securities or other obligations of the grantorGrantor, or any other owner or operator of the facilities, or any of their affiliates as defined in the federal Investment Company Act of 1940, as amended (15 U.S.C. 80a-2(a)), shall not be acquired or held, unless they are securities or other obligations of the federal Federal or a state State government; (Bb) The trustee Trustee is authorized to invest the fund Fund in time or demand deposits of the trusteeTrustee, to the extent insured by an agency of the federal governmentFederal Government, and in obligations of the federal government Federal Government such as GNMA, FNMA, and FHLM bonds and certificates or state State and municipal Municipal bonds rated BBB or higher by Standard and Poors or Baa or higher by Xxxxx’x investment servicesXxxxx'x Investment Services; and (Cc) For a reasonable time, not to exceed sixty 60 days, the trustee Trustee is authorized to hold uninvested cash, awaiting investment or distribution, without liability for the payment of interest thereon.