Trustee Action Clause Samples
The 'Trustee Action' clause defines the authority and procedures by which a trustee may act on behalf of a trust or its beneficiaries. Typically, this clause outlines the specific powers granted to the trustee, such as making investments, distributing assets, or entering into contracts, and may set conditions or require approvals for certain actions. By clearly delineating the trustee's scope of action, this clause ensures that all parties understand the trustee's role and helps prevent disputes or unauthorized activities, thereby safeguarding the interests of the trust and its beneficiaries.
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Trustee Action. The exercise by the Trustees of their powers and discretion hereunder in good faith and with reasonable care under the circumstances then prevailing shall be binding upon everyone interested. Subject to the provisions of Article IV, the Trustees shall not be liable for errors of judgment or mistakes of fact or law.
Trustee Action. Wherever action on the part of the Trustees is contemplated by this Agreement, action by a majority of the Trustees, including a majority of the Independent Trustees, shall constitute the action provided for herein.
Trustee Action. The exercise by the Trustees of their powers and discretions hereunder in good faith and with reasonable care under the circumstances then prevailing shall be binding upon everyone interested. Subject to the provisions of Article X hereof and to Section 11.01 of this Article XI, the Trustees shall not be liable for errors of judgment or mistakes of fact or law.
Trustee Action. The Trustee shall not make any recommendations regarding the manner of exercising any rights under this Subsection 1.02(d), including whether or not any rights should be exercised.
Trustee Action. Any action taken or determination made by or pursuant to the direction of the Trustees in good faith and consistent with the provisions of this Declaration shall be final and conclusive and shall be binding upon the Trust, every holder at any time of Shares and any other Person.
Trustee Action. EXPERT ADVICE; NO BOND OR SURETY..............17 Section 3. RECORD DATES..................................................17 Section 4.
Trustee Action. 23 Section 3. Termination of the Trust......................................................23 Section 4. Reorganization................................................................24 Section 5. Declaration of Trust..........................................................25 Section 6.
Trustee Action. The Trustee shall hold, collect, conserve, protect, and administer the Trust in accordance with the provisions of this Agreement and the Plan, and pay and distribute amounts as set forth therein for the purposes set forth in the Plan and this Agreement. Any good faith determination by the Trustee as to what actions are in the best interests of the Trust shall be determinative, subject to approval by the Liquidating Trust Committee if required by the Plan.
Trustee Action. No provision of Sections 6.5(g) and (h) shall prevent the Trustee from taking any action relating to its duties under such Sections if the Trustee determines in its sole discretion that such action is necessary in order for the Trustee to fulfill its fiduciary responsibilities under ERISA.
Trustee Action. Wherever action on the part of the Trust or the Trustees is contemplated in this Agreement, unless otherwise provided herein, action by a majority of the Trustees, including a majority of the Unaffiliated Trustees, shall constitute the action provided for herein.