Issuance of Orders. Subject to the terms of the investment management agreement between the Board and each Investment Manager: (a) Each Investment Manager shall have the power and authority, to be exercised in its sole discretion at any time and from time to time, to issue orders and Instructions for the purchase or sale of Securities held in its Investment Manager Account directly to a broker-dealer; and (b) All transactions by an Investment Manager shall be made upon such terms and conditions, and from or through such principals and agents, as the Investment Manager shall direct (consistent with the provisions of ERISA).
Appears in 2 contracts
Sources: Trust Agreement, Trust Agreement