Trustee Authority Sample Clauses

Trustee Authority. (1) Subject to state law, a Trustee may appoint an "Attorney-in-Fact" and delegate to such agent the exercise of all or any of the powers conferred upon a Trustee and may at pleasure revoke such appointment. Any such appointment shall be made by a written, acknowledged instrument. (2) No purchaser from or other person dealing with the Trustee shall be responsible for the application of any purchase money or thing of value paid or delivered to the Trustee, and the receipt by the Trustee shall be a full discharge; and no purchaser or other person dealing with the Trustee and no issuer, or transfer agent, or other agent of any issuer of any securities to which any dealings with the Trustee should relate, shall be under any obligation to ascertain or inquire into the power of the Trustee to purchase, sell, exchange, transfer, mortgage, pledge, lease, distribute or otherwise in any manner dispose of or deal with any security or any other property held by the Trustee or comprised in the trust. (3) Prior to delivering the trust fund to a successor Trustee or to making any partial or complete distribution of principal hereunder (other than a distribution that is made in the exercise of the Trustee’s discretion and does not terminate the trust), the Trustee may require an approval of the Trustee’s accounts and a release and discharge from all beneficiaries having an interest in the distribution. If any beneficiary or beneficiaries shall refuse to provide a requested release and discharge, the Trustee may require court settlement of such accounts; all of the Trustee’s fees and expenses (including attorneys’ fees) attributable to court approval of such accounts shall be paid by the trust involved to the extent that the accounts are approved. (4) The certification of a Trustee and/or Attorney-in-Fact that such Trustee and/or agent is acting according to the terms of this Trust Agreement shall fully protect all persons dealing with such Trustee and/or agent. (5) In the event any Trustee hereunder is precluded by any other provision of this Trust Agreement or by the laws of any state from acting as a Trustee in such state, the Trustee may appoint a “Special Trustee” qualified to act and may delegate to such Special Trustee the exercise of all or any of the powers conferred upon a Trustee hereunder. A Special Trustee shall in no way be responsible for the matters not delegated to it. Any appointment of a Special Trustee and the delegation of powers to such Special Truste...

Trustee Authority. Subject to state law, a Trustee may appoint an Attorney-in-Fact (“Power of Attorney”) and delegate to such agent the exercise of all or any of the powers conferred upon a Trustee.

Trustee Authority. The plan shall provide benefits for hospitalization, medical, dental, vision, and prescription drugs, as provided by present policies in accordance with terms and provisions as agreed to by the Plan Trustees, with enrollment periods as provided in this Trust agreement. The purpose of the Trustees shall be to administer the Joint Insurance Health Plan Trust. The trustees shall contract for coverage solely for medical/hospitalization, dental, vision and prescription drugs. They shall examine the viability of continuing with self-insured programs and shall determine which, if any, coverage will be self-insured. The Third Party Administrator, Comprehensive Managed Care Administrator, Legal Counsel, and Independent Actuary shall be determined by the Trustees and shall be funded by the Trust. At the end of each plan year the Independent Actuary, in addition to determining the cost basis for the next ensuing year shall certify the unexpended trust fund monies as of the 120th day following the end of the plan year. Thereafter, not more than 30 days following the Actuary's report, all monies paid into the plan trust but unexpended for costs and claims incurred and paid for the previous year may be paid 50% to the plan participants and 50% to the Board of Education. This payment may only be made in the event that the Insurance Reserve is fully funded to the Independent Actuary’s current funding recommendation. The 50% payment to the participants shall be made by pro-rata distribution to all plan Participants employed at the end of the plan year, by individual checks issued by the Third Party Administrator to each such participant. The Trustees of the North Ridgeville Health Care Trust may determine that, due to extenuating circumstances, the financing of the Insurance Trust may be inadequate in order to continue the reasonable benefits of the Trust. At that point, representatives of the Board and Unions agree to meet to discuss such concern. If the Board and Unions agree that the Insurance Trust is a viable insurance plan through which reasonable insurance benefits can continue to be provided to employees, then the parties may discuss financial alternatives which would retain the Insurance Trust.

Trustee Authority. The Trustee shall: (i) With respect to the investment of the Assets, follow the authorized direction of the District, any Investment Manager appointed by the District, or any designated authorized signatory agent of the District or Investment Manager as identified by the District or Investment Manager on an Authorized Signers Form (attached hereto as Appendix B) pursuant to the security protocols described in Appendix C. The Trustee shall have no duty or authority to invest, reinvest or divest any Assets except and unless directed to do so by the District, any Investment Manager appointed by the District or any designated agent of the District or Investment Manager; (ii) Only if, when, and to the extent the District so directs or instructs, make disbursements to the District in accordance with the direction or instructions of the District or its designated agent. Administration and payment of Benefits to Plan Participants shall remain the responsibility of the District or of a third party designated by the District. (iii) Maintain records of receipts and disbursements and furnish to the District for each year a written annual Trustee report as provided in this Agreement.

Trustee Authority. The Trustee has the authority to establish the fair market value of the Trust Fund, to value segregated Accounts, to employ advisors, agents and counsel, to hold the Trust assets and to render accounts of its administration of the Trust. Article 14 further describes the authority and duties of the Trustee.

Trustee Authority. The Trustees enter into this Agreement pursuant to their designation as trustees by the President of the United States or the Governor of Texas under the Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”), 42 U.S.C. § 9601 et seq.; the Federal Water Pollution Control Act (“FWPCA”), 33 U. S. C. § 1251, et seq.; and any other applicable Federal and State of Texas laws, rules and regulations. The Trustees act on behalf of the public to recover for injuries to natural resources and the lost services those resources would have provided.

Trustee Authority. The Trustees enter into this MOA in accordance with the legal authorities provided to each Trustee by the Comprehensive Environmental Response, Compensation, and Liability Act (“CERCLA”), 42 U.S.C. §§ 9601 et seq.; Texas Hazardous Substances Spill Prevention and Control Act, Texas Water Code Ch. 26, Subchapter G; and other applicable Federal and State natural resources laws, rules and regulations.

Trustee Authority. By its execution hereof, the Equity Investor authorizes and directs the Trustee to execute, deliver and perform this Agreement and to execute, deliver, perform, and file all other documents and agreements required to be executed or filed by the Trustee which are referred to herein or as otherwise may be necessary in order to comply with this Agreement or to effectuate the transactions contemplated herein.

Trustee Authority. (a) The Trustees are hereby empowered and authorized to invest the Trust Fund and to keep the Trust Fund invested, without distinction between principal and income, in any and all common stocks, preferred stocks, bonds, notes, debentures, mortgages, certificates of deposit, banker’s acceptance, equipment trust certificates, investment trust certificates, Insurance Company Contacts, savings bank deposits, commercial paper, real and personal property wherever situated, and in such other property, investments and securities, whether domestic or foreign, of any kind, class or character as the Trustees may deem suitable for the Trust Fund. (b) The Trustees are expressly authorized to invest all or any part of the assets of the Trust Fund in deposits with a Custodian, or with any Investment Manager that is qualified to act as a Custodian, which bear interest at a reasonable rate. Nothing herein shall confer any authority or obligation upon the Trustees to invest the cash balances of any Investment Management Account. (c) Subject to section 408(b)(6) of ERISA, cash temporarily awaiting investment or payment of benefits or expenses may be retained in noninterest-bearing deposits or cash balances with a Custodian or any other Qualified Financial Institution. (d) The Trustees in their discretion may: (1) Sell, mortgage, pledge, lease or otherwise dispose of any asset; vote upon any stocks, bonds or other securities of any corporation or other issuer at any time held in the Trust Fund, or otherwise consent to or request any action on the part of such corporation or other issuer; give general or specific proxies or powers of attorney, with or without power of substitution, and participate in reorganizations, recapitalizations, consolidations, mergers and similar transactions with respect to such securi- ties; deposit such stocks or other securities in any voting trust, with any protective or like committee, with a trustee or with depositaries designated thereby; exercise any subscription rights and conversion privileges; and generally exercise any of the powers of an owner with respect to stocks or other securities or property comprising the Trust Fund; and (2) Purchase part interests in real property or in mortgages on real property, wherever situated, with the right to take title in the name of the Trustees, the name of a Custodian or in the name of a nominee of either, either alone or jointly with the holder or holders of other part interests therein or their nomin...