Trustee's Authority. Persons dealing ------------------- with the Trustee shall be under no obligation to see the proper application of any money paid or property delivered to the Trustee or to inquire into the Trustee's authority as to any transaction.
Trustee's Authority. Trustee or any person acting in its stead shall have, at its discretion, authority to employ all proper agents and attorneys in the execution of this Deed of Trust, and pay for such services rendered out of the proceeds of the sale of the Property conveyed hereby, should any be realized; and if no sale be made, then Grantor hereby undertakes and agrees to pay to Trustee the cost of such services rendered. If from time to time more than one Trustee or Substitute Trustee shall have been appointed hereunder, then any one Trustee or Substitute Trustee may act for all such Trustees and/or Substitute Trustee(s).
Trustee's Authority. Any insurance company issuing an Insurance Policy to this Insurance Trust is authorized to deal with the Trustee as the absolute assignee and/or owner of any policy issued to or transferred to this Insurance Trust. Settlor shall, at the request of the Trustees, execute any other instrument reasonably required to carry out the foregoing provisions including any change of ownership forms, change of beneficiary forms and other instruments reasonably required to facilitate vesting in the Trustee of all incidents of ownership in any such policy. The Trustee shall be authorized to apply for and pay Living Benefits to an Insured Person in accordance with the procedures set forth herein, in the Kai-Zen Trust, or any collateral assignment agreement to which an Insurance Policy is subject. Notwithstanding the foregoing, the Trustee may, to the extent permitted or required under applicable law direct that any payments or distributions may be payable directly to a Beneficiary or Insured Person by an insurance company.
Trustee's Authority. (a) The Trustees shall have authority to make any and all necessary rules or regulations, binding upon all Participating Employers and all Participants, to effectuate the purposes of this Article.
(b) The Trustees shall also have the authority to designate as parsonage, on behalf of the Executive Board as each Participating Employer’s agent under Section 10.2, all or a portion of any benefits to be paid under the Plan during a calendar year to a retired cantor or other “minister of the gospel” (within the meaning of Code Section 107). A retired cantor or other minister who wishes to have a portion of his benefits designated as parsonage hereunder shall file with the Plan the Appropriate Form setting forth his estimate of the total parsonage expenses he expects to incur during the calendar year. A parsonage designation for a retired cantor or other minister filing the Appropriate Form under the preceding sentence shall be deemed automatically made for the total estimated parsonage expenses shown on, and as of the date the Plan receives, the Appropriate Form. Neither the Executive Board nor the Trustees shall be under any obligation to verify whether a retired cantor’s or minister’s actual parsonage expenses in any calendar year equals or exceeds the amount of benefits designated as parsonage for the year. It shall be the sole obligation and responsibility of each retired cantor or minister to determine whether the amount of any benefits designated as parsonage hereunder is excludable from his gross income.
Trustee's Authority. (a) The Trustee is authorized and empowered to take any action set forth below with respect to any asset of the Trust Fund:
(i) Pending investment instructions, to hold funds uninvested or to invest the funds, (i) in U.S. Treasury bills, or commercial paper, or such other short-term investments of similar character as it may select, regardless of whether any such investment is usual or approved or authorized by law for investments by fiduciaries; or (ii) in a composite trust maintained by the Trustee as a medium for the collective investment of eligible employee benefit plans;
(ii) To cause any property of the Trust to be issued, held or registered in the individual name of the Trustee, in the name of its nominee, in a securities depository or in such other form as may be required or permitted under applicable law (however, the records of the Trustee shall indicate the true ownership of such property);
(iii) To employ such agents and counsel, including legal counsel, as the Trustee determines to be reasonably necessary in managing and protecting the Trust assets, in handling controversies under Section 10.8(h) or any other section of this Agreement or in defending itself successfully against allegations of fiduciary liability and to pay them reasonable compensation out of the Trust Fund unless otherwise paid by the Employer; and
(iv) To do all other acts necessary or desirable for the proper administration of the Trust assets.
(b) With respect to the investment of the Trust Fund, the persons authorized to give investment directions pursuant to Section 10.2 may direct the Trustee to, and solely in accordance with such directions given pursuant to Section 10.2, the Trustee shall have the duty and authority to:
(i) Invest and reinvest the Trust Fund without regard to diversification and without regard to whether any such investment is authorized by the laws of any jurisdiction for fiduciary investments;
(ii) Exercise or sell covered listed options, conversion privileges or rights to subscribe for additional securities and to make payments therefor;
(iii) Consent to or participate in dissolutions, reorganizations, consolidations, mergers, sales, leases, mortgages, transfers or other changes affecting securities and other assets held by the Trustee;
(iv) Make, execute and deliver as Trustee any and all contracts, waivers, releases or other instruments in writing necessary or proper for the exercise of any of the foregoing powers; and
(v) Grant options to purcha...
Trustee's Authority. In addition to and not by way of limitation of any other powers conferred upon the Trustee by law or by other provisions of this Agreement, but subject to the provisions of Section 1.3 and this Article II, the Trustee is authorized and empowered:
(a) to sell, exchange, convey, transfer or dispose of any property, whether real or personal, at any time held by him, and any sale may be made by private contract or by public auction, and for cash or upon credit, or partly for cash and partly upon credit, and no person dealing with the Trustee shall be bound to see to the application of the purchase money or to inquire into the validity, expediency or propriety of any such sale or other disposition;
(b) to retain, manage, operate, repair and rehabilitate and to mortgage or lease for any period any real estate held by him and, in his discretion, cause to be formed any corporation or trust to hold title to any such real property;
(c) subject to Section 2.7, to vote in person or by proxy on any stocks, bonds, or other securities held by him, to exercise any options appurtenant to any stocks, bonds or other securities for the conversion thereof into other stocks, bonds or securities, and to exercise any rights to subscribe for additional stocks, bonds or other securities and to make any and all necessary payment therefor and to enter into any voting trust;
(d) with respect to any investment, to join in, dissent from, or oppose any action or inaction of any corporation, or of the directors, officers or stockholders of any corporation, including, without limitation, any reorganization, recapitalization, consolidation, liquidation, sale or merger;
(e) to settle, adjust, compromise, or submit to arbitration any claims, debts or damages due or owing to or from the Trust Fund;
(f) to deposit any property with any protective, reorganization or similar committee, to delegate power thereto and to pay and agree to pay part of its expenses and compensation and any assessments levied with respect to any property so deposited.
(g) to commence or defend suits or legal proceedings, and to represent the Trust Fund in all suits or legal proceedings in any court or before any other body or tribunal;
(h) to register securities in his name or in the name of any nominee or nominees with or without indication of the capacity in which the securities shall be held, or to hold securities in bearer form;
(i) subject to Section 2.8, to borrow money for the purchase of Employer Stock from any ...
Trustee's Authority. The Trustee shall have all the authority expressly conferred upon it for the management of this Trust, as well as all that may be necessary to meet the objectives thereof, but it will not be responsible for gains or losses on the securities that make up the Trust Assets, and the Settlor therefore assumes any and all risks that may arise concerning it. The Trustee will only be liable for its performance in this Trust pursuant to the provisions of Article 391 of the General Law of Negotiable Instruments and Credit Transactions.
Trustee's Authority. RELEASE OF PREPAID STUDENT LOANS......
