Common use of Duties and Powers of the Trustee Clause in Contracts

Duties and Powers of the Trustee. Enumerates the duties and powers of the Trustee including: (1) the duty to maintain accurate records, (2) the right to employ agents to assist in the performance of the Trustees' duties under the agreement, (3) the right to allocate duties among multiple trustees, (4) interaction with custodians and co-trustees, and (5) the general powers necessary or desirable to properly perform its duties under the Trust Agreement. Addresses the Administrator's right to appoint an investment manager or direct the Trustee with respect to the investment of Fund assets.

Duties and Powers of the Trustee. Enumerates the duties and powers of the Trustee including: (1) the duty to maintain accurate records, (2) the right to employ agents to assist in the performance of the Trustees' duties under the agreement, (3) the right to allocate duties among multiple trustees, (4) interaction with custodians and co-trustees, and (5) the general powers necessary or desirable to properly perform its duties under the Trust Agreement. Addresses the Administrator's right to appoint an investment manager or direct the Trustee with respect to the investment of Fund assets.