Common use of Trustee Management Clause in Contracts

Trustee Management. The Trustee shall invest and reinvest the principle and income of the Trust Fund, in accordance with general investment policies and guidelines that the Grantor shall communicate in writing to the Trustee from time to time, subject, however, to the provisions of this Agreement. In investing, reinvesting, exchanging, selling, and managing the Trust Fund, the Trustee or any other Fiduciary shall discharge his duties with respect to the Trust Fund solely in the best interests of the Director and with the care, skill, prudence, and diligence under the circumstances then prevailing that persons of prudence, 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, provided that: (a) Securities or other obligations of the Grantor or any other owner or operator of the facility, or any of their affiliates as defined in the Investment Company Act of 1940, as amended, 15 U.S.C. 80a‑2(a), shall not be acquired or held on behalf of the Trust Fund, unless they are securities or other obligations of the United States of America or the state of Michigan; (b) The Trustee is authorized to invest the Trust Fund in time or demand deposits of the Trustee, to the extent insured by an agency of the United States of America or the state of Michigan; and (c) The Trustee is authorized to hold cash while awaiting investment or distribution uninvested for a reasonable time and without liability for the payment of interest thereon.

Trustee Management. The Trustee shall invest and reinvest the principle and income of the Trust Fund, in accordance with general investment policies and guidelines that the Grantor shall may communicate in writing to the Trustee from time to time, time subject, however, to the provisions of this Agreement. In investing, reinvesting, exchanging, selling, and managing the Trust Fund, the Trustee or any other Fiduciary shall discharge his duties with respect to the Trust Fund solely in the best interests interest of the Director participants and the beneficiaries and with the care, skill, prudence, and diligence under the circumstances then prevailing that persons of prudence, 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, ; provided that: (ai) Securities or other obligations of the Grantor Grantor, or any other owner or operator of the facilityfacilities, or any of their affiliates as defined in the Investment Company Act of 1940, as amended, 15 U.S.C. 80a‑2(a), shall not be acquired or held on behalf of the Trust Fundheld, unless they are securities or other obligations of the United States of America or the state State of Michigan; (bii) The Trustee is authorized to invest the Trust Fund in time or demand deposits of the Trustee, to the extent insured by an agency of the United States of America or the state State of Michigan; and (ciii) The Trustee is authorized to hold cash while awaiting investment or distribution uninvested for a reasonable time and without liability for the payment of interest thereon.

Trustee Management. The Trustee shall invest and reinvest the principle principal and income of the Trust FundFund and keep the Fund invested as a single fund, without distinction between principal and income, in accordance with general investment policies and guidelines that which the Grantor shall may communicate in writing to the Trustee from time to time, subject, however, to the provisions of this Agreementsection. In investing, reinvesting, exchanging, selling, and managing the Trust Fund, the Trustee or any other Fiduciary shall discharge his duties with respect to the Trust Fund trust fund solely in the best interests interest of the Director and beneficiary with the care, skill, prudence, and diligence under the circumstances then prevailing that which persons of prudence, 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, provided ; except that: (ai) Securities or other obligations of the Grantor Grantor, or any other owner or operator permittee of the facility, or any of their affiliates as defined in the Investment Company Act of 1940, as amended, 15 U.S.C. 80a‑2(a80a-2. (a), shall not be acquired or held on behalf of the Trust Fundheld, unless they are securities or other obligations of the United States of America Federal or the state of Michigan;a State government: (bii) The Trustee is authorized to invest the Trust Fund in time or demand deposits of the Trustee, to the extent insured by an agency of the United States of America Federal or the state of MichiganState government; and (ciii) The Trustee is authorized to hold cash while awaiting investment or distribution uninvested for a reasonable time and without liability for the payment of interest thereon.