Fiduciaries Clause Samples
The Fiduciaries clause defines the responsibilities and obligations of individuals or entities who are entrusted to act in the best interests of another party, typically in a position of trust such as a trustee, director, or agent. In practice, this clause outlines the standards of care, loyalty, and good faith that fiduciaries must uphold, and may specify actions they are prohibited from taking, such as self-dealing or conflicts of interest. Its core function is to ensure that those in fiduciary roles are legally bound to prioritize the interests of the beneficiaries or stakeholders they serve, thereby protecting those parties from potential abuse or mismanagement.
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Fiduciaries. The fiduciaries shall have only those specific powers, duties, responsibilities and obligations as are specifically given them under this Plan. The Company shall have the sole responsibility for making the contributions required by the Plan, shall have the sole authority to appoint and remove the Trustees, members of the Administrative Committee, and to amend or terminate, in whole or in part, this Plan and Trust.
Fiduciaries. The following persons are Fiduciaries under the Plan.
a) The Trustee,
b) The Employer,
c) The Plan Administrator or committee, appointed by the Employer pursuant to this Article IX of the Plan and designated as the "Named Fiduciary" of the Plan and the Plan Administrator, and
d) Any Investment Manager appointed by the Employer as provided in Section 9.4. Each of said Fiduciaries shall be bonded to the extent required by ERISA. The TPA is not intended to have the authority or responsibilities which would cause it to be considered a Fiduciary with respect to the Plan unless the TPA otherwise agrees to accept such authority or responsibilities in a service agreement or otherwise in writing.
Fiduciaries. If a party is designated or nominated as attorney-in-fact, guardian, conservator, executor, trustee, or other fiduciary in an instrument signed after the date of this Agreement, the designated party shall act under the provisions of such document or an order of the court.
Fiduciaries. Whenever any trust or estate is acting as a Member under this Agreement, any obligation or liability created hereunder shall bind only the assets of such trust or estate. No such obligation or liability shall be personally binding upon, nor shall resort be had to, nor recourse or satisfaction sought from, any individual or entity, or the property of any individual or entity, at any time acting as a fiduciary of any such trust or estate, whether the claim giving rise to such obligation or liability is based on contract, tort or otherwise.
Fiduciaries. Named Fiduciaries 40 8.2 Employment of Advisers 41 8.3 Multiple Fiduciary Capacities 41 8.4 Indemnification 41 8.5 Payment of Expenses 41 TABLE OF CONTENTS ARTICLE IX PLAN ADMINISTRATION 9.1 The Administrator 41 9.2 Powers and Duties of the Administrator 41 9.3 Delegation of Responsibility 42
Fiduciaries. The following persons are Fiduciaries under the Plan.
a) The Trustee, b) The Employer,
Fiduciaries. The Employer, the Plan Sponsor, the Plan Administrator, the Benefits Committee and the Trustee, but only with respect to the specific responsibilities of each for Plan and Trust administration, all as described in Article IX.
Fiduciaries. Any person identified on the Application or an Account as a guardian, custodian, trustee, representative payee, administrator/ executor/personal representative, or similar fiduciary (collectively “Fiduciary”) acts in that capacity pursuant to contract, state or federal law or regulation, or judicial authority for the benefit of the named minor/▇▇▇▇, person under disability, trust/beneficiary, or estate/ decedent named on the Account. The Account is subject to the order of the Fiduciary, subject to any limitations imposed by any judicial order of which We have had prior notice and a reasonable opportunity to act. If a Fiduciary executes a power of attorney to appoint another person to act as the attorney-in fact for the Fiduciary, We have the right, in Our sole discretion, not to accept the power of attorney until the Fiduciary proves to Our satisfaction that the Fiduciary has the right to delegate authority to others through a power of attorney. The Fiduciary certifies that any funds deposited into or withdrawn from the Account are properly within the Fiduciary’s custody and may be lawfully deposited into or withdrawn from the Account in accordance with authority duly vested in the Fiduciary and that We have no duty to verify the authority of the Fiduciary to make particular deposits or withdrawals (except as expressly provided otherwise by judicial order of which We have had prior notice and a reasonable opportunity to act). The Fiduciary promises to keep records in good faith and in the ordinary course of Business which detail the interests of the true beneficial owner(s) of the Account at all times. All draws and transfers made to the Account must be signed by the Fiduciary. The Fiduciary agrees to be bound by the terms of this MSA and Other Agreements.
Fiduciaries. Trustee's Acceptance and Responsibilities. The Trustee hereby accepts the trusts imposed upon it by this Indenture, and agrees to perform said trusts, but only upon and subject to the following express terms and conditions:
Fiduciaries should conduct the appropriate due diligence regarding valuation methodology and performance calculation processes and business and operational risk management systems employed by a private pool, including the extent of independent audit evaluation of such processes and systems.