Trustee's Authority Sample Clauses

The Trustee's Authority clause defines the powers and responsibilities granted to the trustee in managing the assets held within a trust. This clause typically outlines the trustee's ability to make investment decisions, distribute assets to beneficiaries, and handle administrative tasks such as paying taxes or expenses related to the trust. By clearly specifying the scope of the trustee's authority, this clause ensures that the trustee can act effectively on behalf of the trust while providing guidance and boundaries to prevent misuse of power.
Trustee's Authority. Persons dealing with the Trustee shall be under no obligation to see to 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.
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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).
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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...
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Trustee's Authority. Except as otherwise provided in this Agreement, the Trustee shall have exclusive authority and discretion to manage and control the Trust Fund; to invest and reinvest the principal and income of the Trust Fund and keep the Trust Fund invested, as a single fund without distinction between principal and income, in such securities or in such property, real or personal, tangible or intangible, as the Trustee shall deem advisable, including but not limited to capital or common stocks (whether voting or nonvoting and whether or not currently paying a dividend), preferred stocks (whether voting or nonvoting and whether or not currently paying a dividend), bonds, notes, debentures, interests in investment companies, trusts, partnerships, and other pooled funds, savings bank deposits (including but not limited to savings accounts and savings investment media that are maintained by the Trustee’s own Banking Department), and commercial paper, and in such other property, investments and securities, whether domestic or foreign, of any kind, class, or character as the Trustee may deem suitable for the Trust Fund, and such investment and reinvestment shall not be restricted to properties and securities authorized for investment by trustees under any present or future law; provided that in no event shall the Trustee make any investment prohibited by ERISA. The Trustee in its discretion may keep such portion of the Trust Fund in cash or cash equivalents (including deposits in the Trustee’s own Banking Department) as the Trustee may from time to time deem to be in the interest of Participants and Beneficiaries, even if such balances exceed the maximum amount insured from time to time by the Federal Deposit Insurance Corporation. Except as otherwise provided by Article VII hereof, all rights associated with assets of the Trust shall be exercised by the Trustee; all such rights shall in no event be exercisable by or rest with Participants and Beneficiaries.
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Trustee's Authority. RELEASE OF PREPAID STUDENT LOANS......
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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 ...
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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.
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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.
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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.
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Related to Trustee's Authority

  • Pledgor’s Authority No authorization, approval or action by, and no notice or filing with any Governmental Authority or with the issuer of any Pledged Capital Stock is required either (i) for the pledge made by a Pledgor or for the granting of the security interest by a Pledgor pursuant to this Pledge Agreement or (ii) for the exercise by the Administrative Agent or the holders of the Secured Obligation of their rights and remedies hereunder (except as may be required by Laws affecting the offering and sale of securities).

  • Managers Authority We authorize you, acting as Manager, to (i) negotiate, execute and deliver the Underwriting Agreement, (ii) exercise all authority and discretion granted by the Underwriting Agreement and take all action you deem desirable in connection with this Agreement and the Underwriting Agreement including, but not limited to, waiving performance or satisfaction by the Company, any selling security holder or any other party to the Underwriting Agreement of its or their obligations or conditions included in the Underwriting Agreement or the Terms Communication (including this Agreement), if in your judgment such waiver will not have a material adverse effect upon the interests of the Underwriters and exercising any right of cancellation or termination, (iii) modify, vary or waive any provision in the Underwriting Agreement except the amount of Our Securities or the purchase price (except you may determine the price by Formula Pricing where applicable), (iv) determine the timing and the terms of the Offering (including varying the offering terms and the concessions and discounts to dealers), (v) exercise any option relating to the purchase of Option Securities, and (vi) take all action you deem desirable in connection with the Offering and the purchase, carrying, sale and distribution of the Securities. If there are other Managers with respect to an Offering, you may take any action hereunder alone on behalf of the Managers, and our representations, agreements and authorizations given herein shall also be for the benefit of such other Manager to whom you may grant any of your authority to act hereunder. You may arrange for the purchase by others, who may include your or other Underwriters, of any Securities not taken up by an Underwriter in respect of its obligations hereunder who defaults under this Agreement and/or the Underwriting Agreement. We will assume our proportionate share of all defaulted obligations not assumed by others and any Securities so assumed shall be included in Our Securities. However, nothing in this paragraph will affect our liability or obligations in the event of a default by us or any other Underwriter(s). You may advertise the Offering as you determine and determine all matters relating to communications with dealers or others. We will not advertise the Offering without your consent, and we assume all expense and risk with respect to any advertising by us. Notwithstanding any information you furnish as to jurisdictions where you believe the Securities may be sold, you have no obligation for qualification of the Securities for sale under the laws of any jurisdiction. You may file a New York Further State Notice. You have no liability to us except for your own lack of good faith in meeting obligations expressly assumed by you hereunder.

  • SECURITIES AND FUTURES AUTHORITY Notwithstanding anything to the contrary contained in a definitive Private Placement Memorandum or any transaction document, all persons may disclose to any and all persons, without limitation of any kind, the federal income tax treatment and tax structure of the securities described herein, any fact relevant to understanding the federal tax treatment or tax structure of the securities described herein, and all materials of any kind (including opinions or other tax analyses) relating to such federal tax treatment or tax structure. -------------------------------------------------------------------------------- Page 11 WEIGHTED AVERAGE LIFE SENSITIVITY TO MATURITY ----------- ------------------------------------------------------------------------------------------------------------------------------ PPC 50 60 75 100 125 150 175 ------------------------------------------------------------------------------------------------------------------------------ A-1 WAL 5.94 5.14 4.23 3.21 2.50 1.97 1.53 FIRST PAYMENT DATE 7/25/2003 7/25/2003 7/25/2003 7/25/2003 7/25/2003 7/25/2003 7/25/2003 EXPECTED FINAL MATURITY 9/25/2030 5/25/2029 8/25/2026 3/25/2022 8/25/2018 12/25/2015 12/25/2013 WINDOW 1 - 327 1 - 311 1 - 278 1 - 225 1 - 182 1 - 150 1 - 126 ------------------------------------------------------------------------------------------------------------------------------ A-2 WAL 5.94 5.14 4.23 3.21 2.50 1.97 1.53 FIRST PAYMENT DATE 7/25/2003 7/25/2003 7/25/2003 7/25/2003 7/25/2003 7/25/2003 7/25/2003 EXPECTED FINAL MATURITY 9/25/2030 5/25/2029 8/25/2026 3/25/2022 8/25/2018 12/25/2015 12/25/2013 WINDOW 1 - 327 1 - 311 1 - 278 1 - 225 1 - 182 1 - 150 1 - 126 ------------------------------------------------------------------------------------------------------------------------------ M-1 WAL 11.45 9.95 8.22 6.28 5.23 4.79 4.87 FIRST PAYMENT DATE 9/25/2008 12/25/2007 1/25/2007 8/25/2006 11/25/2006 2/25/2007 6/25/2007 EXPECTED FINAL MATURITY 4/25/2028 3/25/2026 2/25/2023 11/25/2018 11/25/2015 9/25/2013 12/25/2011 WINDOW 63 - 298 54 - 273 43 - 236 38 - 185 41 - 149 44 - 123 48 - 102 ------------------------------------------------------------------------------------------------------------------------------ M-2 WAL 11.37 9.87 8.13 6.20 5.09 4.49 4.22 FIRST PAYMENT DATE 9/25/2008 12/25/2007 1/25/2007 7/25/2006 9/25/2006 10/25/2006 11/25/2006 EXPECTED FINAL MATURITY 11/25/2026 8/25/2024 7/25/2021 7/25/2017 9/25/2014 9/25/2012 3/25/2011 WINDOW 63 - 281 54 - 254 43 - 217 37 - 169 39 - 135 40 - 111 41 - 93 ------------------------------------------------------------------------------------------------------------------------------ B-1 WAL 11.12 9.62 7.91 6.01 4.90 4.25 3.88 FIRST PAYMENT DATE 9/25/2008 12/25/2007 1/25/2007 7/25/2006 7/25/2006 8/25/2006 8/25/2006 EXPECTED FINAL MATURITY 6/25/2024 3/25/2022 2/25/2019 7/25/2015 2/25/2013 5/25/2011 1/25/2010 WINDOW 63 - 252 54 - 225 43 - 188 37 - 145 37 - 116 38 - 95 38 - 79 ------------------------------------------------------------------------------------------------------------------------------ B-2 WAL 10.52 9.07 7.44 5.63 4.57 3.95 3.57 FIRST PAYMENT DATE 9/25/2008 12/25/2007 1/25/2007 7/25/2006 7/25/2006 7/25/2006 8/25/2006 EXPECTED FINAL MATURITY 4/25/2020 3/25/2018 9/25/2015 10/25/2012 11/25/2010 7/25/2009 7/25/2008 WINDOW 63 - 202 54 - 177 43 - 147 37 - 112 37 - 89 37 - 73 38 - 61 ------------------------------------------------------------------------------------------------------------------------------ --------------------------------------------------------------------------------

  • City’s Manager’s Authority To the extent, if any, the City has the power to suspend or terminate this contract or the Contractor’s services under this contract, that power may be exercised by City Manager or a deputy or assistant City Manager without City Council action.

  • Seller’s Authority Seller has full power to execute and deliver this Agreement and all related documents, and to carry out the transactions contemplated herein. This Agreement is valid, binding and enforceable against Seller in accordance with its terms except as such enforceability may be limited by creditors' rights, laws and applicable principles of equity. Each individual executing this Agreement on behalf of Seller represents and warrants to Buyer that he or she is duly authorized to do so and thereby to bind Seller.