Common use of Trustee Management Clause in Contracts

Trustee Management. The Trustee shall invest and reinvest the principle and income of the Trust Fund, in accordance with general investment policies and guidelines that the Grantor may communicate in writing to the Trustee from time to time subject, however, to the provisions of this Agreement. In investing, reinvesting, exchanging, selling, and managing the Trust Fund, the Trustee or any other Fiduciary shall discharge his duties with respect to the Trust Fund solely in the interest of the participants and the beneficiaries and with the care, skill, prudence, and diligence under the circumstances then prevailing that persons of prudence, 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; provided that: (i) Securities or other obligations of the Grantor, or any other owner or operator of the facilities, or any of their affiliates as defined in the Investment Company Act of 1940, as amended, 15 U.S.C. 80a‑2(a), shall not be acquired or held, unless they are securities or other obligations of the United States of America or the State of Michigan; (ii) The Trustee is authorized to invest the Trust Fund in time or demand deposits of the Trustee, to the extent insured by an agency of the United States of America or the State of Michigan; and (iii) The Trustee is authorized to hold cash awaiting investment or distribution uninvested for a reasonable time and without liability for the payment of interest thereon.

Trustee Management. The Trustee shall invest and reinvest the principle and income of the Trust Fund, in accordance with general investment policies and guidelines that the Grantor may shall communicate in writing to the Trustee from time to time time, subject, however, to the provisions of this Agreement. In investing, reinvesting, exchanging, selling, and managing the Trust Fund, the Trustee or any other Fiduciary shall discharge his duties with respect to the Trust Fund solely in the interest best interests of the participants and the beneficiaries Director and with the care, skill, prudence, and diligence under the circumstances then prevailing that persons of prudence, 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; , provided that: (ia) Securities or other obligations of the Grantor, Grantor or any other owner or operator of the facilitiesfacility, or any of their affiliates as defined in the Investment Company Act of 1940, as amended, 15 U.S.C. 80a‑2(a), shall not be acquired or heldheld on behalf of the Trust Fund, unless they are securities or other obligations of the United States of America or the State state of Michigan; (iib) The Trustee is authorized to invest the Trust Fund in time or demand deposits of the Trustee, to the extent insured by an agency of the United States of America or the State state of Michigan; and (iiic) The Trustee is authorized to hold cash while awaiting investment or distribution uninvested for a reasonable time and without liability for the payment of interest thereon.