BORROWING AND LENDING. To borrow or raise money for the purpose of the Trust Fund in such amount, and upon such terms and conditions, as the Trustee shall deem advisable; and, for any sum so borrowed, to issue promissory notes as Trustee, and to secure the repayment thereof by pledging all, or any part of, the Trust Fund, except for segregated accounts; and no person lending money to the Trustee shall be bound to see to the application of the money lent or to inquire into the validity, expediency or propriety of any such borrowing.
Appears in 2 contracts
Sources: 401(k) Trust Agreement (Southtrust Corp), 401(k) Trust Agreement (Southtrust Corp)