Fiduciary Standards Sample Clauses
The Fiduciary Standards clause establishes the obligation of one party to act in the best interests of another, typically where a relationship of trust and confidence exists, such as between a trustee and beneficiary or a corporate director and shareholders. In practice, this clause requires the fiduciary to exercise loyalty, good faith, and due care, avoiding conflicts of interest and self-dealing. Its core function is to ensure that the fiduciary prioritizes the interests of the beneficiary above their own, thereby protecting the beneficiary from potential abuse or negligence.
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Fiduciary Standards. Subject to paragraphs 13.6 and 13.8 hereof, the Trustee, Employer and Custodian, as applicable, shall invest and reinvest principal and income of the Trust in accordance with the funding policy and investment objectives established by the Employer, provided that:
Fiduciary Standards. The Trustees (and any person or entity to which the Trustees shall delegate any duties) including the Investment Manager shall discharge their duties under this Trust Agreement solely in the interest of the Participants and Beneficiaries of the Program and in accordance with governing State and federal law and the terms of the Program and this Trust Agreement. Such duties shall be discharged for the exclusive purpose of providing VLOSAP Benefits to the Participants and Beneficiaries and paying expenses of the Program. In addition, the Trustees shall discharge their duties in accordance with the fiduciary standards established by Sections 21-201 through 21-210 of the State Personnel and Pensions Article of the Maryland Annotated Code, or successor provisions.
Fiduciary Standards. Each fiduciary shall:
(a) discharge his or her duties in accordance with this Plan and Trust to the extent they are consistent with ERISA;
(b) use that degree of care, skill, prudence and diligence that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims;
(c) act with the exclusive purpose of providing benefits to Participants and their Beneficiaries, and defraying reasonable expenses of administering the Plan;
(d) diversify Plan investments, to the extent such fiduciary is responsible for directing the investment of Plan assets, so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so; and
(e) treat similarly situated Participants and Beneficiaries in a uniform and nondiscriminatory manner.
Fiduciary Standards. The Trustee shall invest and reinvest income in the same Fund in accordance with the investment objectives established by the Employer, provided that:
(a) such investments are prudent under the Employee Retirement Income Security Act of 1974 and the regulations promulgated thereunder,
(b) such investments are sufficiently diversified or otherwise insured or guaranteed to minimize the risk of large losses, and
(c) such investments are similar to those which would be purchased by another professional money manager for a like plan with similar investment objectives.
Fiduciary Standards. Subject to paragraphs 13.6 and 13.8 hereof, the Trustee, if discretionary, shall invest and reinvest principal and income of the Trust in accordance with the funding policy and investment objectives established by the Employer, provided that:
(a) such investments are prudent under ERISA, as amended, and the Regulations thereunder,
(b) such investments are sufficiently diversified to minimize the risk of large losses,
(c) such investments are made in accordance with the provisions of this Plan and Trust document, and
(d) such investments are made with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims.
Fiduciary Standards. 41 15.3 Company is ERISA Plan Administrator . . . . . . . . . . 41 15.4
Fiduciary Standards. The rights and obligations of the Blackstone Partners and the NBCU Parties to each other and to each of the Subject Partnerships under this Agreement and under each of the Subject Partnership Agreements shall be governed by the fiduciary standards generally applicable to and between the Partners in each of the Subject Partnerships.
Fiduciary Standards. Subject to paragraphs 13.6 and 13.8 hereof, the Trustee, shall invest and reinvest principal and income of the Trust, provided that:
(a) such investments are prudent under ERISA, as amended, and the Regulations thereunder,
(b) such investments are sufficiently diversified to minimize the risk of large losses,
(c) such investments are made in accordance with the provisions of this Plan and Trust document, and
(d) such investments are made with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent man acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims.
Fiduciary Standards. The Trustee shall perform those duties under this Agreement that cause it to be deemed a fiduciary under ERISA in accordance with the standard of care set forth in Section 404(a) of ERISA; the Trustee shall exercise reasonable care with respect to its remaining duties and obligations under this Agreement. The Trustee shall not be responsible for the administration of any Plan, for determining the funding policy of any Plan or the adequacy of the Trust Fund to meet and discharge liabilities under any Plan, or for the investments of any Plan. The Trustee shall not be responsible for any failure of the Plan Administrator or the Employer to discharge any of their respective responsibilities with respect to the Plans nor be required to enforce payment of any contributions to the Trust Fund. Except as otherwise required by ERISA, under no circumstances shall the Trustee or its agent incur liability for any indirect, incidental, consequential or special damages (including, without limitation, lost profits) of any form incurred by any person, whether or not foreseeable and regardless of the form of the action in which such a claim may be brought, with respect to the Trust Fund or its role as Trustee or agent.
Fiduciary Standards. 52 15.3 Company's Benefits Committee is ERISA Plan Administrator . . . . . . . . . . . . . . . . . . . . . 52 15.5 Advisors May be Retained . . . . . . . . . . . . . . . 53 15.6