Administration of the Funds Sample Clauses

Administration of the Funds. 3.1 The trustees of the Funds referred to in clauses 1.1 and 1.2 above shall have the right to appoint administrators for their Funds. 3.2 The trustees of the Funds shall consist of 50% trustees nominated by the union concerned and 50% of the trustees nominated by the employers’ associations concerned. Designated alternates may take the place of trustees. 3.3 The benefits, contributions, rules and all other matters coincidental to the administration of the Funds shall be determined by the trustees of the Funds by majority vote. The benefits, contributions and rules shall not be inconsistent with this Agreement, the Act, or any other legislation and shall be lodged with the Registrar of Labour Relations. 3.4 Should the Council be appointed by either of the Funds as the Funds Administrator, the General Secretary of the Council or any of his staff delegated for this purpose shall be responsible for the proper administration of such Fund. 3.5 The trustees of the Fund(s) may refuse and/or withhold any or all benefits from any member and/or his dependants who, in its opinion, have acted in a manner calculated or reasonably likely to injure the interests of the Fund(s) or their members: Provided that such member shall be given the opportunity of submitting an appeal against the decision of the trustees to an independent body whose decision shall be final. 3.6 Any disputes concerning the interpretation, meaning or intention of any of the provisions of the Fund(s) or concerning the administration of the Funds which the trustees are unable to resolve, shall be referred to an independent person or body for a final and binding decision. 3.7 Should any of the Funds be administered by the Council, the Funds’ trustees and employees of the Council shall not be liable for the debts and liabilities of the Fund(s). 3.8 Should any of the Funds be administered by the Council, the Funds’ trustees and employees of the Council shall not be held responsible for any act which may result in loss to the Fund(s), where such act was done in good faith, and they shall be indemnified by the Fund(s) against all losses and expenses incurred by them in the course of their duties. 3.9 Should the Council be the administrators or be the collecting agent for any of the Funds, it shall not be held responsible for any contributions deducted and any contributions due and payable by any employer and/or member not paid to the Council upon sequestration or liquidation of any employer. 3.10 Should the...
View SourceView Similar (5)
Administration of the Funds. Section 1.01. For the purpose of this Agreement Sweden shall deposit an amount of Swedish Kronor thirty-one million eight hundred thousand (SEK 31,800,000) into Account "T" maintained by the Association with the Sveriges Riskbank (hereinafter referred to as the Trust Account). The Grant funds in the Trust Account will be kept separate and apart from the funds of the Association and the International Bank for Reconstruction and Development. The Grant funds may be commingled with other trust fund assets maintained in the Trust Account. Section 1.02. Sweden hereby appoints the Association as administrator of the Grant and authorizes the Association to: (a) disburse the proceeds of the Grant to Ethiopia to finance goods and services for the Project in accordance with the provisions hereof and the Grant Agreement; and (b) do any and all such acts and things as may be necessary or appropriate to fully accomplish the foregoing. Disbursements of funds from the Trust Account attributable to the Grant shall be effected on the basis of withdrawal applications for expenditures submitted by Ethiopia to the Association in accordance with the Association’s applicable procedures for withdrawal of proceeds of credits made by the Association. Section 1.03. The Association shall exercise the same care in the discharge of its functions hereunder as it exercises with respect to the administration and management of its own affairs and shall have no further responsibility to Sweden in respect thereof. Section 1.04. In order to assist in the defrayment of the costs of the administration and other expenses incurred by the Association under this Agreement, the Association may invest the Grant funds held in the Trust Account and retain for its own account the income from any such investment. Section 1.05. The administration and enforcement of any provisions of any agreement entered into between the Association and Ethiopia will be the responsibility solely of the Association and will be carried out in accordance with the Association’s normal procedures. Section 1.06. The Closing Date shall be March 31, 1995, or such later date as the Association shall establish. The Association shall promptly notify Sweden of such later date.
View SourceView Similar (2)
Administration of the Funds. Section 1.01. For the purpose of this Agreement NORAD shall deposit an amount of US Dollars 1,200,000 (the Grant) in the "T" Account maintained in the name of the Association with the Federal Reserve Bank of New York (hereinafter referred to as the Trust Account). The funds in the Trust Account shall be freely exchangeable by the Association with other currencies as may facilitate their administration hereunder.
View SourceView Similar (2)
Administration of the Funds. (a) For the purpose of this Agreement, SIDA shall deposit twenty million Swedish kroner (SEK 20,000,000) (the Grant) into the International Development Association’s Cash Account "T" (No. 89501- 00225) which is maintained with Sveriges Riksbank (the T- Account). (b) The Grant shall be deposited into the T-Account promptly after the effectiveness of this Agreement. To facilitate the administration of trust fund assets, the Association may deposit other trust fund assets in the T- Account. Section 1.02. SIDA hereby appoints the Association as administrator of the Grant and authorizes the Association to: (a) hold and disburse the proceeds thereof towards making the payments of principal and interest due and payable by Uganda to the Bank; and (b) do any and all such acts and things as may be necessary or appropriate to fully accomplish the foregoing; provided, however, that in the event the Association shall have suspended Uganda’s right to make withdrawals under the Development Credit Agreement, the Association may withhold disbursements of the Grant until such right of Uganda has been restored. Section 1.03. The Association shall exercise the same care in the discharge of its functions under this Agreement as it exercises with respect to the administration and management of its own affairs and shall have no further responsibility to Sweden in respect thereof. Section 1.04. In order to assist in the defrayal of the costs of administration and other expenses incurred by the Association under this Agreement, the Association may invest and reinvest the Grant funds pending their disbursement and may retain for its own account the income from any such investment or reinvestment.
View Source
Administration of the Funds. ▇▇▇▇▇▇▇ has been and shall remain the Manager of the Funds, and shall retain all responsibility for the administration of the Funds, after the closing of the transactions to be effected by the Contribution Agreements. ▇▇▇▇▇▇▇ acknowledges and agrees neither the REIT nor the Operating Partnership nor any of PRT’s affiliates shall have any obligation to administer the Funds, or owe the Funds any more duties or responsibilities than it owes to any other shareholder of the REIT, provided, however, the REIT shall reimburse ▇▇▇▇▇▇▇ for the reasonable cost and expenses payable to a third party, selected and overseen by ▇▇▇▇▇▇▇, after consultation with PRT, to (a) perform and prepare routine annual financial audits of the Funds in the normal course of operation of the Funds for the fiscal year of the Funds ending in 2013 and 2014, and (b) prepare annual tax returns for the Funds, including IRS Form 1040K-1s, for the tax years ending in 2013 and 2014. ▇▇▇▇▇▇▇ shall continue to pay and assume all other cost and expense of administering the Funds, including audits and tax return preparations for any calendar or tax year after 2014. PRT shall cooperate with all reasonable requests of ▇▇▇▇▇▇▇ for information or support necessary for the administration of the Funds.
View Source
Administration of the Funds. Section 1.01. For the purpose of this Agreement SIDA shall deposit in U.S. dollars an amount equivalent to SEK 50,000,000 (the Grant) into the "T" Account maintained in the name of the Association with the Federal Reserve Bank of New York (hereinafter referred to as the Trust Account). The funds in the Trust Account shall be freely exchangeable by the Association with other currencies as may facilitate their administration hereunder.
View Source
Administration of the Funds. Section 1.01. For the purpose of this Agreement SIDA shall deposit an amount of Swedish Kronor two million four hundred and fifty-six (SEK 2,456,000) into a "T" Account maintained by the Association with the Sveriges Riksbank (hereinafter referred to as the Trust Account). The Grant funds in the Trust Account shall be kept separate and apart from the funds of the Association and the International Bank for Reconstruction and Development. The Grant funds may be comingled with other trust fund assets maintained in the Trust Account. Section 1.02. SIDA hereby appoints the Association as administrator of the Grant and authorizes the Association to: (a) disburse the proceeds of the Grant to Kenya to finance consultants’ services for the development of health personnel planning and of a long-term strategy for education and training of health personnel under the Health Rehabilitation Project, in accordance with the provisions hereof and the Grant Agreement; and (b) do any and all such acts and things as may be necessary or appropriate to fully accomplish the foregoing. Disbursements of funds from the Trust Account attributable to the Grant shall be effected on the basis of withdrawal applications for expenditures submitted by Kenya to the Association in accordance with the Association’s applicable procedures for withdrawal of proceeds of credits made by the Association. Section 1.03. The Association shall exercise the same care in the discharge of its functions hereunder as it exercises with respect to the administration and management of its own affairs and shall have no further responsibility to SIDA in respect thereof. Section 1.04. In order to assist in the defrayment of the costs of the administration and other expenses incurred by the Association under this Agreement, the Association may invest the Grant funds held in the Trust Account and retain for its own account the income from such investment. Section 1.05. The administration and enforcement of any provisions of any agreement entered into between the Association and Kenya will be the responsibility solely of the Association and will be carried out in accordance with the Association’s normal procedures.
View Source

Related to Administration of the Funds

  • Administration of the Bank a. The Committee maintains records of employees participating, receives requests, verifies validity, approves, and communicates actions to members and to the District. b. Decisions will be final and made in writing to the applicant within ten (10) working days of the application to the Committee. c. All requests and actions by the Committee will be confidential. d. The District will keep records and notify the Committee monthly of new members and days remaining in the Bank. e. If the Catastrophic Leave Program is discontinued, the Committee will continue to administer Catastrophic Leave days until the days in the Bank are exhausted. f. In order to protect someone from being charged an extra day when not necessary, the Committee shall set the maximum number of days in the bank after the first year of experience. If the number of days accumulated exceeds the maximum number of days, no contributions will be assessed except for new members wishing to join the bank.

  • Administration of the Trust (a) The Trustee shall administer the Trust Property for the benefit of the Unitholders. In engaging in such activities, the Trustee shall follow or cause to be followed collection procedures in accordance with the terms of the Trust Agreement, the Underlying Securities, the Swap Agreement, the indemnification offered by the Depositor pursuant to Section 10.05(b) and the Guarantee. The duties of the Trustee shall be performed in accordance with applicable local, State and Federal law. (b) Subject to Article X, the Trustee is hereby authorized to perform, and from time to time hereafter, shall perform only those acts which are described in the Trust Agreement as obligations of the Trustee. Notwithstanding the generality of the foregoing, the Trustee is hereby specifically authorized to do the following on behalf of the Trust: to issue the Certificates evidencing Units; to execute and deliver and perform its obligations and exercise its rights under the Swap Agreement; to establish and maintain the Unit Account hereunder; to accept delivery of the Underlying Securities and the Swap Agreement; to pledge the assets of the Trust (including the Underlying Securities) to secure the obligations of the Trust including obligations under the Swap Agreement; to sell the Underlying Securities through the Selling Agent in accordance with Section 9.05; to make Permitted Investments pursuant to Section 3.06; to liquidate the Trust pursuant to Article IX and to make distributions pursuant to Article IV. (c) Notwithstanding anything to the contrary herein, the Trust shall not engage in any business or activities other than receiving the Underlying Securities and any Credit Support or other Trust Property and entering into the Swap Agreement as provided herein, holding the Underlying Securities, the Swap Agreement and any Credit Support (or other Trust Property), issuing Certificates evidencing Units, making Permitted Investments in accordance with Section 3.06 and performing its obligations hereunder and under the Swap Agreement; provided, however, that during its existence the Trust shall not engage in any business or activity which will cause it to be or become an open-end investment company, unit investment trust or face-amount certificate company that is or is required to be registered under Section 8 of the Investment Company Act, or to be or become a closed-end investment company required to be registered, but not registered, under the Investment Company Act. (d) The Trustee shall not sell, assign, pledge or otherwise transfer the Underlying Securities, the Swap Agreement, any Credit Support or other Trust Property, or any interest of the Trust therein, to any Person or Persons, except to a successor trustee as provided in Section 10.07, through the Selling Agent in accordance with Section 9.05, in accordance with Section 10.02(a)(x), as required under any Swap Agreement or as otherwise expressly permitted hereunder. This section shall not be construed to prohibit transfers of the Units. (e) The Trustee shall have the legal power to exercise all of the rights, powers and privileges of holders of the Underlying Securities in which the Units evidence an interest; provided, however, that the exercise of such powers shall be subject to the provisions of this Section 3.02, Article X and the other provisions hereof. However, neither the Trustee (except as specifically provided herein or in the TIA) nor the Depositor shall be under any obligation whatsoever to appear in, prosecute or defend any action, suit or other proceeding in respect of Underlying Securities or Units. (f) Except for actions expressly authorized by the Trust Agreement, the Trustee shall not take actions reasonably likely to (nor fail to take actions, if such failure would be reasonably likely to) (i) impair the interests of the Trust in any Underlying Security, any Credit Support, the Swap Agreement or the Guarantee (or any other Trust Property); (ii) impair the value of any Underlying Security, any Credit Support, the Swap Agreement or the Guarantee (or any other Trust Property); or (iii) alter the classification of a Trust for U.S. federal income tax purposes. (g) Except as expressly provided in the Trust Agreement, the Trustee shall have no power to vary the corpus of the Trust Property including by (i) accepting any substitute obligation or asset for a Underlying Security or any Credit Support, (ii) entering into any amendment or modification of the Swap Agreement or the Underlying Securities, (iii) accepting any substitute guarantee for the Guarantee, (iv) adding any other investment, obligation or security to the Trust Property, (v) withdrawing from the Trust Property any Underlying Securities or Credit Support, (vi) terminating the Swap Agreement except in accordance with its terms or (vii) rejecting or otherwise failing to accept the continuing benefits of the Guarantee.

  • Administration of the Trust Fund 55 Section 4.01.

  • Administration of the Plan The Administrator of the Plan will be the Board of Directors, except to the extent the Board of Directors delegates its authority to the Committee, in which case the Committee shall be the Administrator. Subject to the provisions of the Plan, the Administrator is authorized to: (a) Interpret the provisions of the Plan and all Stock Rights and to make all rules and determinations which it deems necessary or advisable for the administration of the Plan; (b) Determine which Employees, directors and Consultants shall be granted Stock Rights; (c) Determine the number of Shares for which a Stock Right or Stock Rights shall be granted; provided, however, that in no event shall the aggregate grant date fair value (determined in accordance with ASC 718) of Stock Rights to be granted and any other cash compensation paid to any non-employee director in any calendar year, exceed $750,000, increased to $1,000,000 in the year in which such non-employee director initially joins the Board of Directors. (d) Specify the terms and conditions upon which a Stock Right or Stock Rights may be granted provided that no dividends or dividend equivalents shall be paid on any Stock Right prior to the vesting of the underlying Shares. (e) Amend any term or condition of any outstanding Stock Right, provided that (i) such term or condition as amended is not prohibited by the Plan and (ii) any such amendment shall not impair the rights of a Participant under any Stock Right previously granted without such Participant’s consent or in the event of death of the Participant the Participant’s Survivors. (f) Determine and make any adjustments in the Performance Goals included in any Performance-Based Awards; and (g) Adopt any sub-plans applicable to residents of any specified jurisdiction as it deems necessary or appropriate in order to comply with or take advantage of any tax or other laws applicable to the Company, any Affiliate or to Participants or to otherwise facilitate the administration of the Plan, which sub-plans may include additional restrictions or conditions applicable to Stock Rights or Shares issuable pursuant to a Stock Right; Subject to the foregoing, the interpretation and construction by the Administrator of any provisions of the Plan or of any Stock Right granted under it shall be final, unless otherwise determined by the Board of Directors, if the Administrator is the Committee. In addition, if the Administrator is the Committee, the Board of Directors may take any action under the Plan that would otherwise be the responsibility of the Committee. To the extent permitted under applicable law, the Board of Directors or the Committee may allocate all or any portion of its responsibilities and powers to any one or more of its members and may delegate all or any portion of its responsibilities and powers to any other person selected by it. The Board of Directors or the Committee may revoke any such allocation or delegation at any time. Notwithstanding the foregoing, only the Board of Directors or the Committee shall be authorized to grant a Stock Right to any director of the Company or to any “officer” of the Company as defined by Rule 16a-1 under the Exchange Act.

  • ADMINISTRATION OF THE CONTRACT 2.2.1 The Architect will provide administration of the Contract as hereinafter described. 2.2.2 The Architect will be the State's representative during construction and until final payment is due. The Architect will advise and consult with the State. The State's instructions to the Contractor shall be forwarded through the Architect. The Architect will have authority to act on behalf of the State only to the extent provided in the Contract Documents, unless otherwise modified by written instrument in accordance with Subparagraph 2.2.10. 2.2.3 The Architect will visit the site at intervals appropriate to the stage of construction to familiarize himself or herself generally with the progress and quality of the Work and to determine in general if the Work is proceeding in accordance with the Contract Documents. However, the Architect will not be required to make exhaustive or continuous on-site inspections to check the quality or quantity of the Work. On the basis of his or her on-site observations as an architect, he or she will keep the State informed of the progress of the Work, and will endeavor to guard the State against defects and deficiencies in the Work of the Contractor. 2.2.4 The Architect will not be responsible for and will not have control or charge of construction means, methods, techniques, sequences or procedures, or for safety precautions and programs in connection with the Work, and he or she will not be responsible for the Contractor's failure to carry out the Work in accordance with the Contract Documents. The Architect will not be responsible for or have control or charge over the acts or omissions of the Contractor, 2.2.5 The Architect shall at all times have access to the Work wherever it is in preparation and progress. The Contractor shall provide facilities for such access so the Architect may perform his or her functions under the Contract Documents.