Common use of Duties of the Grantor Clause in Contracts

Duties of the Grantor. The Grantor shall have sole authority and responsibility for: (1) Unless otherwise expressly required under this Trust Agreement, the determination of the existence, nature, and extent of the rights and interests of any Beneficiary or his or her beneficiary under the plan in this Trust. (2) The allocation of investment responsibilities among and between itself, the Trustee, the administrator of the Plan and any Investment Manager acting hereunder from time to time. (3) The determination of investment policies and guidelines to be followed by the Fiduciary or Fiduciaries to whom investment responsibilities have been allocated. (4) The appointment and removal of any Investment Manager. (5) The promulgation of appropriate directions to implement benefit payments from the Trust. (6) The responsibility to oversee the administrator of the Plan's maintenance of individual Beneficiary records and the provision of such information to the Trustee on an annual basis or on a more frequent basis if the Grantor, in its sole discretion, determines it to be advisable. (7) Unless otherwise expressly agreed, to oversee the administrator of the Plan's preparation and filing of reports and other information concerning the Trust as may be required by applicable law, except such reports and information as are specifically required by law to be prepared and filed by the Trustee. (8) The written notification of the Trustee of the insolvency of the Grantor. (9) The written notification of the Trustee of the determination of the possibility of the occurrence or non-occurrence of a business combination or change of control and the effect to the plan and Trust thereof.