Power and Authorities Clause Samples
Power and Authorities. The Trustees may:
(a) make, execute, acknowledge and deliver any agreements with any person or corporation, concerning any Trust Funds;
(b) direct Manitoba to establish separate accounts for the Claims Account and the Community Development Account in The Northern Affairs Fund, and all such forms as may be required to establish and open the accounts in The Northern Affairs Fund and related matters, shall be completed in the required manner and on the forms required by Manitoba for The Northern Affairs Fund;
(c) direct Manitoba to maintain separate accounting records for the Claims Account and the Community Development Account;
(d) deliver any cash balances in the hands of the Trustees at any time to Manitoba for deposit in the Claims Account or Community Development Account, or both, in The Northern Affairs Fund and transfer by Manitoba of all or a portion of the Trust Funds not immediately required by the Community to the Minister of Finance to be held in Manitoba’s Consolidated Fund as authorized under The Northern Affairs Act, and for the purposes of the Trust, draw, make, endorse, deposit and deal in cheques, bills of exchange, promissory notes, drafts, or any security documents or any nature or kind with Manitoba;
(e) direct Manitoba to invest the Trust Funds in The Northern Affairs Fund and in Manitoba’s Consolidated Fund in accordance with the guidelines set forth in Appendix 3 and to retain any portion of Financial Proceeds originally transferred to the Trustees pursuant to this Indenture as an authorized investment of the Trust, for all purposes of this Trust, for such length of time as they consider necessary;
(f) for the purposes of the Trust, requisition withdrawals from the accounts in The Northern Affairs Fund held and administered by Manitoba, provided that for any requisition, the signing authority shall require the signatures of any two (2) Trustees, and a requisition from the Claims Account, in the form approved by Manitoba, shall be accompanied by a copy of the decision of a Claims Officer or Appeal Claims Officer and other requisitions shall be accompanied by a copy of a Council Resolution approving a Community proposal, plan or initiative and written confirmation by the Trustees of the expenditures to be made in the new fiscal year, and for such purposes the signatures of such persons and such attached documentation shall be valid and binding upon the Trust;
(g) employ professional financial and/or investment advisors, brokers, solicito...
Power and Authorities. The Trustees may:
(a) make, execute, acknowledge and deliver any agreements with any person or corporation, concerning any Trust Funds;
(b) open or operate a bank account or bank accounts as may be expedient in the opinion of the Trustees and deposit any cash balances in the hands of the Trustees at any time in any chartered bank or trust company or credit union, and for the purposes of the Trust, draw, make, endorse, deposit and deal in cheques, bills of exchange, promissory notes, drafts, or any security documents of any nature or kind, with such bank or trust company or credit union, provided that the signing authority for any such bank accounts or trust company accounts or credit union accounts which are opened shall require the signatures of three (3) persons, being two (2) Trustees (one of whom must be any of the Community Council appointed Trustees and the other, any of the Adult Resident appointed or elected Trustees) and one (1) of the Community Council administration officers, and for such purposes the signatures of such persons shall be valid and binding upon the Trust, and all such forms as may be required to open bank accounts, or trust company accounts or credit union accounts, operate same and related matters, shall be completed in the required manner and on the forms required by such bank or trust company account or credit union account;
(c) employ professional financial and/or investment advisors, brokers, solicitors, Auditors, accountants and agents, deemed by the Trustees to be helpful for the proper settlement or administration of the Trust, and to do so without any liability for any neglect, omission, misconduct, or default of any such employed person, provided such employed person was selected and retained with reasonable care, and determine and pay reasonable compensation for all charges associated with the use of such professional services;
(d) following notice to, and approval by, the Community Council, provided the Community Council are not parties adverse in interest, prosecute, defend or settle any suits, actions or other proceedings affecting them or the Trust;
(e) make, or refrain from making, any election, determination or designation permitted by any statute or regulation enacted by Parliament or by a Legislature of a province of Canada or by any other legislative or governmental body of any other country, which exercise of discretion by the Trustees shall be binding upon all of the beneficiaries of this Trust;
(f) invest th...
Power and Authorities. Subject to the terms of the Plan and each Award Agreement, the Committee is authorized to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Plan, and to make any other determinations that it deems necessary or desirable for the administration of the Plan. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan in the manner and to the extent the Committee deems necessary or desirable. Any decision of the Committee in the interpretation and administration of the Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned (including, but not limited to, participants and their beneficiaries or successors).