Common use of Trustee Powers Clause in Contracts

Trustee Powers. The Trustee shall have the following powers and authority: (a) Subject to the provisions of this Trust Agreement, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (b) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (c) To keep that portion of the Trust in cash or cash balances as Fortune may, from time to time, deem to be in the best interest of the Trust. (d) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (f) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortune. (g) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortune. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (i) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 2 contracts

Sources: Master Trust Agreement (Fortune Brands Inc), Master Trust Agreement (Fortune Brands Inc)

Trustee Powers. The Trustee shall have the following powers and -------------- authority: (ai) Subject to the provisions Subsection (a) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) With the written consent of the Sponsor, which consent shall not be unreasonably withheld, to: (1) settle, compromise, or submit to arbitration any claims, debts or damages due to or arising from the Trust; (2) commence or defend suits or legal or administrative proceedings; (3) represent the Trust in all suits and legal and administrative hearings; (4) and pay all reasonable expenses arising from any such action from the Trust, if not paid by the Sponsor. (vi) With the written consent of the Sponsor, which consent shall not be unreasonably withheld, to: (1) employ legal, accounting, clerical, and other assistance as may be reasonably required in carrying out the provisions of this Agreement: and (2) pay their reasonable expenses and compensation from the Trust, if not paid by the Sponsor. (vii) To do all other acts although not specifically mentioned herein, as the Trustee may deem reasonably necessary to carry out any of the foregoing powers and the purposes of the Trust. (viii) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (f) To settle, compromise, or submit . Notwithstanding any powers granted to arbitration any claims, debts, or damages due Trustee pursuant to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortune. (g) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and to pay their reasonable expenses and compensation from dividing the Trust if not paid by Fortune. (h) To invest all gains therefrom, within the meaning of any part Section 301.7701-2 of the assets of the Trust in guaranteed interest contracts Procedure and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of Administrative Regulations promulgated pursuant to the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (i) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 2 contracts

Sources: Trust Agreement (FMC Corp), Trust Agreement (FMC Technologies Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b) and (c) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust.; provided, (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank or other financial lending institution which is not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion; provided however, provided that the cost of such borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of requiring such liquidity. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits lawsuits or legal or administrative proceedings; to represent the Trust in all suits lawsuits and legal and administrative hearings; and to pay all reasonable costs and expenses arising from any such action, action from the Trust Trust, if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust Trust, if not paid by Fortunethe Sponsor. (hviii) To Subject to paragraphs (b) and (c) of this Section 5, to invest all of or any part of the assets of the Trust in guaranteed interest investment contracts and short-short term investments (including interest bearing accounts with the Trustee of or money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, (or any comparable provisions of any future legislation that amends, supplements, or supersedes those these sections), provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the . The provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iix) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 2 contracts

Sources: Trust Agreement, Trust Agreement

Trustee Powers. The Trustee shall have the following powers and authority: (a) Subject to the provisions of this Trust Agreement, to sell, exchange, convey, transfer, transfer or otherwise dispose of any property held in the Trust, by private contract or at public auction. No ; no person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, expediency or propriety of any such sale or other disposition.; (b) To to cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York nominees and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust.; (c) To to keep that portion of the Trust in cash or cash balances as Fortune the Trustee may, from time to time, deem to be in the best interest of the Trust.; (d) To to make, execute, acknowledge, acknowledge and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted.; (e) To to borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions make disbursements to Zenith in accordance with the Zenith Preferred Stock in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity.; (f) To to settle, compromise, compromise or submit to arbitration any claimsclaims (other than claims of creditors of the Company in the event of the Company’s Insolvency), debts, debts or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, action from the Trust if not paid by Fortune.the Company; (g) To to employ legal, accounting, clerical, clerical and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortune.the Company; and (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (i) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to the Trustee pursuant to this Agreement or to applicable law, the Trustee shall not have any power that could give the Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code. The Company may provide the Trustee with an opinion of counsel whether an annual fiduciary tax return should be filed for the Trust; in the absence of such opinion, the Trustee may consult with counsel to the extent it deems appropriate on such issue, and any resulting counsel fees shall be charged to the Trust to the extent not paid by the Company.

Appears in 2 contracts

Sources: Trust Agreement (OneBeacon Insurance Group, Ltd.), Trust Agreement (OneBeacon Insurance Group, Ltd.)

Trustee Powers. The Trustee shall have the following powers and authority: (a) Subject to the provisions of this Trust Agreement, to sell, exchange, convey, transfer, transfer or otherwise dispose of any property held in the Trust, by private contract or at public auction. No ; no person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, expediency or propriety of any such sale or other disposition.; (b) To to cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York nominees and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust.; (c) To to keep that portion of the Trust in cash or cash balances as Fortune the Trustee may, from time to time, deem to be in the best interest of the Trust.; (d) To to make, execute, acknowledge, acknowledge and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted.; (e) To to borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions make disbursements to Berkshire in accordance with the Berkshire Preferred Stock in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity.; (f) To to settle, compromise, compromise or submit to arbitration any claimsclaims (other than claims of creditors of the Company in the event of the Company’s Insolvency), debts, debts or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, action from the Trust if not paid by Fortune.the Company; (g) To to employ legal, accounting, clerical, clerical and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortune.the Company; and (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (i) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to the Trustee pursuant to this Agreement or to applicable law, the Trustee shall not have any power that could give the Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code. The Company may provide the Trustee with an opinion of counsel whether an annual fiduciary tax return should be filed for the Trust; in the absence of such opinion, the Trustee may consult with counsel to the extent it deems appropriate on such issue, and any resulting counsel fees shall be charged to the Trust to the extent not paid by the Company.

Appears in 2 contracts

Sources: Trust Agreement (OneBeacon Insurance Group, Ltd.), Trust Agreement (OneBeacon Insurance Group, Ltd.)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b),(c) and (d) of this Trust AgreementSection 4, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fv) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Trust Agreement or to applicable law, Trustee shall not have any power that could give this trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Internal Revenue Code. SECTION 5.

Appears in 2 contracts

Sources: Adoption Agreement (Fair Isaac & Company Inc), Trust Agreement (Chart Industries Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b) and (c) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Named Fiduciary or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To the extent a unitized option is included in the Plan, to borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, ; provided that the cost of such borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. The Sponsor acknowledges that it has received the disclosure on the Trustee’s line of credit program and credit allocation policy and a copy of the text of Prohibited Transaction Exemption 2002-55 prior to executing this Agreement if applicable. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (hviii) To invest all of or any part of the assets of the Trust in guaranteed interest investment contracts and short-short term investments (including interest bearing accounts with the Trustee of or money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the . The provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iix) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 2 contracts

Sources: Trust Agreement (Zions Bancorporation /Ut/), Trust Agreement (Zions Bancorporation /Ut/)

Trustee Powers. The Trustee shall have the following powers powers, rights and authority: (a) Subject duties subject to Section 8 and the other provisions of this Trust Agreement. The Trustee shall exercise such powers only upon the direction of an investment manager, where such powers relate to an investment manager Account, upon the direction of the Company or its designee prior to a Change in Control, and in its sole discretion otherwise: (A) To receive and hold all contributions paid to it by the Company; provided, however, that the Trustee shall have no duty to require any contributions to be made to it; (B) To effectuate the written investment instructions given by the Company or its designee without regard to any law now or hereafter in force limiting investments of fiduciaries; (C) To retain in the Trust for investment, any property deposited with the Trustee hereunder; (D) To have the authority to invest and reinvest assets of the Trust in shares of common or preferred stock, bonds, notes, debentures, short-term securities, mutual funds (including any such fund from which the Trustee or any affiliate thereof receives an investment management fee or any other fee), common Trust funds, and other property, real or personal, of any kind; to purchase and sell "put" or "call" options on publicly traded securities; and to acquire, hold, manage, operate, sell, contract to sell, exchangegrant options with respect to, convey, exchange, transfer, abandon, lease, manage, and otherwise deal with respect to assets of the Trust; (E) To acquire, hold or otherwise dispose of any property held in insurance or annuity contracts as directed by the Trust, by private contract Company or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition.its designee; (bF) To cause borrow from anyone such amount or amounts of money necessary to carry out the purpose of this Trust and for that purpose to mortgage or pledge all or any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust.; (cG) To keep that retain in the Trust for investment or pending distributions, any portion of the Trust in cash or cash balances as Fortune may, from time to time, deem to be deemed appropriate by the Trustee; (H) To establish accounts in the best interest any affiliate of the Trust. (d) To make, execute, acknowledge, Trustee and deliver any in such other banks and all documents of transfer or conveyance and financial institutions as the Trustee deems appropriate to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (f) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortune. (g) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortune. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (i) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust; (I) To deposit securities with a clearing corporation as defined in Article Eight of the Uniform Commercial Code; to hold the certificates representing securities, including those in bearer form, in bulk form with and to merge such certificates into certificates of the same class of the same issuer which constitutes assets of other accounts or owners, without certification as to the ownership attached; and to utilize a book-entry system for the transfer or pledge of securities held by the Trustee or by a clearing corporation, provided that the records of the Trustee shall indicate the actual ownership of the securities and other property of the Trust Fund; (J) To participate in and use the Federal book-entry Account system, a service provided by the Federal Reserve Bank for its member banks for deposit of Treasury securities; and (K) To hold securities or property in the name of the Trustee or its nominee or nominees or in such other form as it deems best with or without disclosing the Trust relationship, providing the records of the Trust shall indicate the actual ownership of such securities or other property.

Appears in 2 contracts

Sources: Trust Agreement (Wisconsin Power & Light Co), Grantor Trust Agreement (Alliant Energy Corp)

Trustee Powers. The Trustee Subject to the provisions of this Declaration of Trust, the business of the Trust shall be managed by the Trustees, and they shall have all powers necessary or convenient to carry out that responsibility and to do all such things and execute all such instruments as they deem necessary, proper or desirable in order to promote the following powers interests of the Trust, though such things are not herein specifically mentioned. Any determination as to what is in the interests of the Trust made by the Trustees in good faith shall be conclusive. Without limiting the foregoing, the Trustees may adopt Bylaws not inconsistent with this Declaration of Trust providing for the conduct of the business of the Trust and may amend and repeal them to the extent that such Bylaws do not reserve that right to the Shareholders; they may enlarge or reduce their number, may fill vacancies in their number, including vacancies caused by enlargement of their number, and may remove Trustees with or without cause upon the majority vote of the other Trustees; they may elect and remove, with or without cause, such officers and appoint and terminate such agents as they consider appropriate; they may appoint from their own number, and terminate, any one or more committees consisting of two or more Trustees, including an executive committee which may, when the Trustees are not in session, exercise some or all of the power and authority of the Trustees as the Trustees may determine; they may employ one or more custodians of the assets of the Trust and may authorize such custodians to employ subcustodians and to deposit all or any part of such assets in a system or systems for the central handling of securities, retain a transfer agent or a Shareholder servicing agent, or both, provide for the distribution of Shares by the Trust, through one or more principal underwriters or otherwise, set record dates for the determination of Shareholders with respect to various matter, and in general delegate such authority as they consider desirable to any officer of the Trust, to any committee of the Trustees and to any agent or employee of the Trust or to any such custodian or underwriter. Without limiting the foregoing, the Trustees shall have power and authority: (a) Subject To invest and reinvest cash, and to the provisions of this Trust Agreement, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition.hold cash uninvested; (b) To cause sell, exchange, lend, pledge, mortgage, hypothecate, write options on and lease any securities or other property held as part all of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part assets of the Trust.; (c) To keep that portion act as a distributor of the Trust in cash shares and as underwriter of, or cash balances as Fortune maybroker or dealer in, from time to time, deem to be in the best interest of the Trust.securities or other property; (d) To makevote or give assent, executeor exercise any rights of ownership, acknowledge, with respect to stock or other securities or property; and to execute and deliver any proxies or powers of attorney to such person or persons as the Trustees shall deem proper, granting to such person or persons such power and all documents of transfer discretion with relation to securities or conveyance and to carry out property as the powers herein granted.Trustees shall deem proper; (e) To borrow funds from a bank not affiliated with the Trustee exercise powers and rights of subscription or otherwise which in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost any manner arise out of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need ownership of liquidity.securities; (f) To settlehold any security or property in a form not indicating any trust, compromisewhether in bearer, unregistered or other negotiable form, or submit to arbitration any claims, debts, in the name of the Trustees or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent of the Trust or in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such actionthe name of a custodian, from the Trust if not paid by Fortune.subcustodian or other depository or a nominee or nominees or otherwise; (g) To employ legalallocate assets, accounting, clerical, liabilities and other assistance as may be required in carrying out the provisions expenses of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid to a particular series of Shares or to apportion the same among two or more series, provided that any liabilities or expenses incurred by Fortune.a particular series of Shares shall be payable solely out of the assets of that series; (h) To invest all consent to or participate in any plan for the reorganization, consolidation or merger of any corporation or issuer, any security of which is or was held in the Trust; to consent to any contract, lease, mortgage, purchase or sale of property by such corporation or issuer, and to pay calls or subscriptions with respect to any security held in the Trust; (i) To join with other security holders in acting through a committee depositary, voting trustee or otherwise, and in that connection to deposit any security with, or transfer any security to, any such committee, depositary or trustee, and to delegate to them such power and authority with relation to any security (whether or not so deposited or transferred) as the trustees shall deem proper, and to agree to pay, and to pay, such portion of the expenses and compensation of such committee, depositary or trustee as the Trustees shall deem proper; (j) To compromise, arbitrate or otherwise adjust claims in favor of or against the Trust or any matter in controversy, including but not limited to claims for taxes; (k) To enter into joint ventures, general or limited partnerships and any other combinations or associations; (l) To borrow funds; (m) To endorse or guarantee the payment of any notes or other obligations of any person; to make contracts of guaranty or suretyship, or otherwise assume liability for payment thereof; and to mortgage and pledge the Trust property or any part thereof to secure any of or all such obligations; (n) To purchase and pay for entirely out of Trust property such insurance as they may deem necessary or appropriate for the conduct of the business, including without limitation, insurance policies insuring the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with payment of distributions and principal on its portfolio investments, and insurance policies insuring the Trustee of money market mutual funds advised by affiliates Shareholders, Trustees, officers, employees, agents, investment advisers or managers, principal underwriters, or independent contractors of the Trust individually against all claims and liabilities of every nature arising by reason of holding, being or having held any such office or position, or by reason of any action alleged to have been taken or omitted by any such person as Shareholder, Trustee) and in any collective , officer, employee, agent, investment trust adviser or group trustmanager, principal underwriter, or independent contractor, including any collective investment trust action taken or group trust maintained omitted that may be determined to constitute negligence, whether or not the Trust would have the power to indemnify such person against such liability. (o) To pay pensions for faithful service, as deemed appropriate by the TrusteeTrustees, which then provides and to adopt, establish and carry out pension, profit-sharing, share bonus, share purchase, savings, thrift and other retirement, incentive and benefit plans, trusts and provisions, including the purchasing of life insurance and annuity contracts as a means of providing such retirement and other benefits, for the pooling any or all of the assets of plans described in Section 401(a) Trustees, officers, employees and exempt from tax under Section 501(a) agents of the Code, Trust; and (p) To engage in any other lawful act or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax activity in which corporations organized under the Code Massachusetts Business Corporation Law may engage. The Trustees shall not in any way be bound or regulations limited by any present or rulings issued future law or custom in regard to investments by the Internal Revenue Service; the provisions of the document governing such collective investment trusts trustees. Except as otherwise provided herein or group trusts, as it may be amended from time to timetime in the Bylaws, shall govern any investment therein and are hereby made action to be taken by the Trustees may be taken by a part of this Trust Agreement. (i) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any majority of the foregoing powers Trustees present at a meeting of Trustees (a quorum being present), within or without Massachusetts, including any meeting held by means of a conference telephone or other communications equipment by means of which all persons participating in the meeting can hear each other at the same time and the purposes participation by such means shall constitute presence in person at a meeting, or by written consents of a majority of the TrustTrustees then in office.

Appears in 2 contracts

Sources: Agreement and Declaration of Trust (Cavanal Hill Funds), Agreement and Declaration of Trust (Cavanal Hill Funds)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b), (c) and (d) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fv) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to the Trustee pursuant to the Agreement or to applicable law, the Trustee shall not have any power that could give the Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code.

Appears in 1 contract

Sources: Adoption Agreement (Arch Capital Group Ltd.)

Trustee Powers. The Trustee shall have the following powers and authority: (a) A. Subject to the provisions paragraphs (ii) and (iii) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (b) B. To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (c) C. To keep that portion of the Trust in cash or cash balances as Fortune the Named Fiduciary or Administrator may, from time to time, deem to be in the best interest of the Trust. (d) D. To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) E. To the extent a unitized option is included in the Plan, to borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, ; provided that the cost of such borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. The Sponsor acknowledges that it has received the disclosure on the Trustee's line of credit program and credit allocation policy and a copy of the text of Prohibited Transaction Exemption 2002-55 prior to executing this Agreement if applicable. (f) F. To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (g) G. To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) H. To invest all of or any part of the assets of the Trust in guaranteed interest investment contracts and short-short term investments (including interest bearing accounts with the Trustee of or money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the . The provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (i) I. To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Trust Agreement (Zions Bancorporation, National Association /Ut/)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b),(c) and (d) of this Trust AgreementSection 4, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fv) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Trust Agreement or to applicable law, Trustee shall not have any power that could give this trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Internal Revenue Code.

Appears in 1 contract

Sources: Trust Agreement (Farr Co)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank or other financial institution not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. The Sponsor acknowledges that it has received the disclosure on the Trustee’s line of credit program and credit allocation policy and a copy of the text of Prohibited Transaction Exemption 2002-55 prior to executing this Agreement if applicable. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iviii) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code. The Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Convergys Corp)

Trustee Powers. The In the administration of the Fund, in addition to, and not in limitation of, any powers or authority of the Trustee shall under this Trust Agreement or which the Trustee may have the following under applicable law in addition thereto (all such additional powers and authorityauthority being specifically hereby granted to the Trustee), the Trustee is authorized and empowered to do the following, in its sole discretion in relation to any portion of the Fund for which it has investment responsibility or discretion, or as directed, to the extent investment responsibility or discretion is assigned to an Investment Manager or the Investment Committee: (a) Subject To purchase or subscribe for any securities or property, including, without limitation, shares of mutual funds, and to retain the provisions of this Trust Agreement, to same in trust; (b) To sell, exchange, convey, transfer, or otherwise dispose of of, any securities or property held in the Trustby it, by private contract or at public auction. No , with or without advertising, and no person dealing with the Trustee shall be bound to see to the application of the purchase money money; (c) Subject to the provisions of Plan Section 11, to vote any stocks, bonds, or other property delivered securities, subject however to the Trustee provisions of the Plan, except for those securities held at the direction of an Investment Manager as described in Section V of the Trust Agreement; to give general or special proxies or powers of attorney with or without power of substitution; to exercise any conversion privileges, subscription rights or other options, and to make any payments incidental thereto; to oppose or to inquire into the validity, expediencyconsent to, or propriety of any such sale otherwise participate in, corporate reorganizations or other disposition. (b) To cause changes affecting corporate securities, and to delegate discretionary powers, and to pay any assessments or charges in connection therewith; and generally to exercise any of the powers of an owner with regard to stocks, bonds, securities or other property held as part of the Trust Fund; (d) To write covered call options and to purchase or sell put options and financial futures contracts; (e) To employ and act through suitable agents, accountants, appraisers and attorneys (who may be registered in counsel for the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York ) and to hold pay their reasonable expenses and compensation; (f) To borrow or raise moneys for the purposes of the Fund in such amounts, and upon the terms as the Trustee in its absolute discretion may deem advisable; and for any investments in bearer formsums so borrowed to issue its promissory note as Trustee, but and to secure the books repayment thereof by pledging all or any part of the Fund; and records of no person lending money to the Trustee shall at all times show that all such investments are part be bound to see to the application of the Trust.money lent; (cg) To settle, compromise or submit to arbitration any claims, to commence or defend any suits or legal or administrative proceedings arising or necessary or appropriate in connection with the Fund, and to represent the Plan and Trust in all suits and legal and administrative proceedings; (h) To keep that portion such portions of the Trust Fund in cash or cash balances as Fortune the Trustee may, from time to time, deem to be in the best interest of the Trust., it being understood that the Trustee shall not be required to pay any interest on any cash balances; and (di) To transfer, at any time and from time to time, all or any part of the Fund, after receiving written approval from the Primary Sponsor, all or any part of the Fund in one or more group trusts or collective investment funds now existing or hereafter established (including, without limitation, group trusts or collective investment funds now or hereafter established by the Trustee) which contemplate the commingling for investment purposes of the funds therein with trust assets of other retirement plans qualified under Code Section 401(a) and established by other businesses, institutions and organizations. To the extent required by Revenue Ruling 81-100 and to the extent consistent with the Plan, the terms and provisions of the declaration of trust creating any group trust or collective investment fund in which all or any part of the Fund is invested, as in force and effect at the time of the investment and as thereafter amended, are hereby adopted and made a part hereof, and any part of the Fund so invested shall be subject to all of the terms and provisions, as in force and effect at the time of the investment and as thereafter amended, of any declaration of trust creating the group trust or collective investment fund. The Trustee shall, after receiving initial written approval from the Primary Sponsor, from time to time withdraw from the group trust or collective investment fund all or such part of the Fund as the Trustee shall deem advisable. In addition, the Trustee shall have the following powers and authority in the administration of the Fund, to be exercised in its sole discretion, regardless of whether an Investment Manager or the Investment Committee has been designated to instruct the Trustee with respect to the investment of any portion of the Fund: (1) To register any investment held as a part of the Fund in its own name or in the name of a nominee, and to hold any investment in bearer form or through or by a central clearing corporation maintained by institutions active in the national securities markets, but the books and records of the Trustee shall at all times show that all investments are part of the Fund; (2) To make, execute, acknowledge, acknowledge and deliver any and all documents of transfer or and conveyance and any and all other instruments or agreements that may be necessary or appropriate to carry out the powers herein granted.of the Trustee under this Trust Agreement or incidental thereto; and (e3) To borrow funds from a bank not affiliated with Generally, to do all acts and to execute and deliver all instruments as in the judgment of the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (f) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortune. (g) To employ legal, accounting, clerical, and other assistance as may be required necessary or desirable to carry out any powers or authority of the Trustee, without advertisement and without order of court and without having to post bond or make any returns or report of its doings to any court. Notwithstanding any other term or condition of the Plan or this Trust Agreement, the Trustee shall not engage in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortune. (h) To invest all of any part of transaction with the assets of the Trust Fund in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee violation of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust AgreementERISA Section 406. (i) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Employee Stock Ownership Plan Trust Agreement (Community First Banking Co)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b), (c) and (d) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion With notice to the investment fund(s) in need of liquidity. (f) To Sponsor, to settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Globalsantafe Corp)

Trustee Powers. The Trustee shall have the following powers and authority:; (ai) Subject to the provisions paragraphs (b), (c) and (d) of this Trust AgreementSection 4, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fv) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Trust Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Internal Revenue Code. The Sponsor shall provide the Trustee with an opinion of counsel whether an annual fiduciary tax return should be filed for the Trust; in the absence of such opinion, Trustee may consult with counsel to the extent it deems appropriate on this issue, and any resulting counsel fees shall be charged to the Trust to the extent not paid by the Sponsor.

Appears in 1 contract

Sources: Trust Agreement (Crowley Maritime Corp)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b), (c) and (d) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank or other financial institution not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iviii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Trust Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Internal Revenue Code.

Appears in 1 contract

Sources: Trust Agreement (Dj Orthopedics Inc)

Trustee Powers. The Subject to the requirements and limitations of Nebraska law governing Police Officers Retirement Systems of Cities of the Fist Class, the Trustee shall have the following powers powers, rights, and authorityduties in addition to those vested in it elsewhere in the Plan or by law: (a) Subject To purchase or subscribe for any securities or other property and to retain the provisions of this Trust Agreement, to same in trust. (b) To sell, exchange, convey, transfer, or otherwise dispose of any securities or other property held in by the TrustTrustee, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bc) To vote any stocks, bonds, or other securities; to give general or special proxies or powers of attorney with or without power of substitution; to exercise any conversion privileges, subscription rights, or other options, and to make any payments incidental thereto; to oppose or to consent to, or otherwise participate in, corporate reorganizations or other changes affecting corporate securities; to pay any assessments or charges in connection therewith; and generally to exercise any of the powers of an owner with respect to stocks, bonds, securities, or other property held as part of the Pension Fund. (d) To cause any securities or other property held as part of the Trust Pension Fund, to be registered in the Trustee's own name, name of the Trustee or in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trustnominee. (ce) To keep that portion borrow or raise money for the purpose of the Trust in cash such amount, and upon such terms and conditions as the Trustee shall deem advisable; for any sums so borrowed, to issue its promissory note as Trustee; to secure the repayment thereof by paying all, or cash balances as Fortune mayany part, from time to time, deem to be in the best interest of the TrustPension Fund; and no person lending money to the Trustee shall be bound to see to the application of the money loaned or to inquire into the validity, expediency, or propriety of any such borrowing. (df) To make, execute, acknowledge, and deliver any and all documents of transfer deeds, assignments, conveyances, and any and all other instruments that may be necessary or conveyance and appropriate to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fg) To settle, compromise, abandon, or submit to arbitration arbitration, any claims, debts, or damages due to or arising from owing to, or from, the TrustPension Fund; to commence or defend suits or legal or administrative proceedings; and to represent the Trust Pension Fund in all suits and suits, legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortune. (g) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortuneproceedings. (h) To invest all of any part of employ suitable agents and counsel (who may be counsel to the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the TrusteeEmployer) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) pay their reasonable expenses and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreementcompensation. (i) To do all other acts such acts, take all such proceedings, and exercise all such rights and privileges, although not specifically mentioned herein, as the Trustee may deem necessary to administer the Pension Fund and to carry out any of the foregoing powers and the purposes of the this Trust.

Appears in 1 contract

Sources: Trust Agreement

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank or other financial institution not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. The Sponsor acknowledges that it has received the disclosure on the Trustee’s line of credit program and credit allocation policy and a copy of the text of Prohibited Transaction Exemption 2002-55 prior to executing this Agreement if applicable. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iviii) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code. The Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Brush Engineered Materials Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank or other financial institution not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity.. The Sponsor acknowledges that it has received the disclosure on the Trustee’s line of credit program and credit allocation policy and a copy of the text of Prohibited Transaction Exemption 2002-55 prior to executing this Agreement if applicable. Table of Contents (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To With the consent of the Sponsor which shall not be unreasonably withheld, the Trustee can employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iviii) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code. The Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Brush Engineered Materials Inc)

Trustee Powers. The valid Trustee shall have may: perform any administrative act normally prescribed by Law for the following powers proper administration of a Trust; and authority: (a) Subject register the Trust in one or more Foreign Jurisdictions to enable the Trust to engage in lawful trade and commerce; and use and register all post and communication of the Trust for the purpose of international recognition of the legal standing of the Trust by foreign entities and the status of the Trust; and establish a special deposit account with a reputable bank ensuring that any property of the trust placed in the bank account remains the legal property of the Trust and not the bank; and convey and deposit property to the provisions special deposit bank account for the purpose of administering the needs of the Trust; pay or deduct all costs, charges, commissions, stamp duties, imposts, outgoings and expenses of or incidental to the Trust Fund or its management or in connection with the preparation, execution and stamping of this deed, as though the Trustee were the absolute owner of the Trust AgreementFund and the income of the Trust Fund; and attract and encourage donations, gifts, endowments, trust distributions and other forms of financial assistance to sell, exchange, convey, transfer, or otherwise dispose for the benefit of any property held in the Trust; and employ and pay or provide any benefit for any employee without being responsible for the default of the employee or for any loss occasioned by the employment; and engage and pay any agent, contractor or professional person without being responsible for the default of the agent, contractor or employee or for any loss occasioned by private contract or at public auction. No person dealing with the Trustee shall be bound to see engagement; and sponsor, organize and undertake fund raising activities and arrange for the issue of appeals to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (b) To cause any securities or other property held public for donations; and accept as part of the Trust Fund any gifts donations, settlements or other dispositions in money or property to be registered or in favor of the Trustee's own name, Trust Fund and either retain them in the name of one their original form without selling or more of its nomineesconverting them into money, or invest, apply or deal with them in any way that the Trustee's account Trustee may invest, apply or deal with the Depository Trust Company of New York Fund under this deed; and decline or otherwise refuse to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are accept as part of the Trust. (c) To keep that portion Trust Fund any gift, donation, settlement or other disposition in money or property; and manage any real property it holds with all the powers of an absolute owner including, but not limited to, power to allow any Beneficiary to occupy the property on the terms and conditions the Trustee thinks fit; and change an investment for any others or vary the terms and conditions on which an investment is held; and sell or otherwise dispose of the whole or any part of the investments or property of the Trust Fund; and borrow or raise or secure the payment of money and secure the repayment of any debt, liability, contract, guarantee or other engagement in cash any way and, in particular, by mortgage, charge, lien, encumbrance, debenture or cash balances as Fortune mayother security, from time fixed or floating, over any present or future asset of any kind and wherever situated; and take and act on the opinion of an expert in relation to time, deem to be in the best interest interpretation or effect of this deed or any of the Trust. (d) To maketrusts or powers of this deed without responsibility for any loss or error resulting from doing so, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank but this provision does not affiliated with stop the Trustee in order from applying to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost court of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (f) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearingscompetent jurisdiction; and to pay all reasonable expenses arising from take any such action, from action for the Trust if not paid by Fortune. (g) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortune. (h) To invest all adequate protection or insurance of any part of the assets Trust Fund; and purchase, draw, make, accept, endorse, discount, execute and issue promissory notes, bills of exchange, and other negotiable or transferable instruments of any kind; and do all other things incidental to the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates exercise of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax ’s powers under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreementdeed. (i) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Deed of Trust

Trustee Powers. The Trustee shall have the following powers and -------------- authority: (ai) Subject to the provisions paragraphs (b), (c), and (d) of this Trust AgreementSection 4, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (ii) Subject to paragraphs (b) and (c) of this Section 4, to invest in guaranteed investment contracts and short-term investments (including interest bearing accounts with the Trustee or money market mutual funds advised by affiliates of the Trustee) and in collective investment funds maintained by the Trustee for qualified plans, in which case the provisions of each collective investment fund in which the Trust is invested shall be deemed adopted by the Sponsor and the provisions thereof incorporated as a part of this Trust and the Plan. (iii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (civ) To keep that portion of the Trust in cash or cash balances as Fortune the PIC may, from time to time, deem to be in the best interest of the Trust. (dv) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions relating to the HEI Common Stock Fund in a timely fashion; provided that the cost of such borrowing shall be allocated to the HEI Common Stock Fund. (vi) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fvii) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gviii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iix) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Trust Agreement (Hawaiian Electric Co Inc)

Trustee Powers. (a) The Trustee shall have act with the following powers care, skill, prudence and authority: (a) Subject to diligence under the provisions of this Trust Agreement, to sell, exchange, convey, transfer, or otherwise dispose of any property held circumstances then prevailing that a prudent person acting in like capacity and familiar with such matters would use in the Trust, by private contract or at public auction. No person dealing conduct of an enterprise of a like character and with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other dispositionlike aims. (b) To cause If the Trustee undertakes or defends any securities arbitration, proceeding or other property held as part of litigation arising in connection with Trust B, the Trust Company agrees to be registered in indemnify the Trustee against the Trustee's own namecosts, in the name of one or more of its nomineesexpenses and liabilities (including, or in the Trustee's account with the Depository Trust Company of New York without limitation, reasonable attorneys' fees and expenses) relating thereto and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all be primarily liable for such investments are part of the Trustpayments. (c) To keep that portion The Trustee may consult with legal counsel (who, prior to any Change of Control, may also be counsel for the Trust in cash Company generally) with respect to any of its duties or cash balances as Fortune may, from time to time, deem to be in the best interest of the Trustobligations hereunder. (d) To makeThe Trustee may hire agents, executeaccountants, acknowledgeactuaries, and deliver investment advisors, financial consultants or other professionals to assist it in performing any and all documents of transfer its duties or conveyance and to carry out obligations hereunder. The expense of such professionals shall be paid by the powers herein grantedCompany. (e) To borrow funds from a bank not affiliated with The Trustee shall have, without exclusion, all powers conferred on trustees by applicable law, unless expressly provided otherwise herein; provided, however, that if an insurance policy is held as an asset of Trust B, the Trustee in order shall have no power to provide sufficient liquidity name a beneficiary of the policy other than Trust B, to process Plan transactions in assign the policy (as distinct from conversion of the policy to a timely fashiondifferent form) other than to a successor Trustee, provided that or to loan to any person the cost proceeds of any borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidityagainst such policy. (f) To settleNotwithstanding any powers granted to the Trustee pursuant to this Trust B Agreement or to applicable law, compromisethe Trustee shall not have any power that could give Trust B the objective of carrying on a business and dividing the gains therefrom, or submit to arbitration any claims, debts, or damages due to or arising from within the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortune. (g) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions meaning of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortune. (h) To invest all of any part section 301.7701-2 of the assets of the Trust in guaranteed interest contracts Procedure and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of Administrative Regulations promulgated pursuant to the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (i) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Employment Agreement (Integrated Health Services Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b), (c) and (d) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank not affiliated with With the Trustee in order prior consent of the Sponsor, to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (f) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To With the prior consent of the Sponsor, to employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (hvii) To invest all of any part of With notice to the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trustSponsor, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (i) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Analog Devices Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b), (c) and (d) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iviii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Advo Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b), (c) and (d) of this Trust AgreementSection 4, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust.... (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fv) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Trust Agreement or to applicable law, Trustee shall not have any power that could give this trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the procedure and Administrative Regulations promulgated pursuant to the Internal Revenue Code. SECTION 5.

Appears in 1 contract

Sources: Adoption Agreement (Fair Isaac & Company Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fv) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to the Trustee pursuant to this Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code. The Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Barnes Group Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b) and (c) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Named Fiduciary or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, ; provided that the cost of such borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To With notice to the Sponsor, to employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (hviii) To invest all of or any part of the assets of the Trust in guaranteed interest investment contracts and short-short term investments (including interest bearing accounts with the Trustee of or money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the . The provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iix) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Trust Agreement (Tech Data Corp)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b),(c) and (d) of this Trust AgreementSection 4, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust... (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fv) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Trust Agreement or to applicable law, Trustee shall not have any power that could give this trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Internal Revenue Code. SECTION 5.

Appears in 1 contract

Sources: Trust Agreement (Lawter International Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions Subsection (a) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) With the written consent of the Sponsor, which consent shall not be unreasonably withheld, to: (1) settle, compromise, or submit to arbitration any claims, debts or damages due to or arising from the Trust; (2) commence or defend suits or legal or administrative proceedings; (3) represent the Trust in all suits and legal and administrative hearings; (4) and pay all reasonable expenses arising from any such action from the Trust, if not paid by the Sponsor. (vi) With the written consent of the Sponsor, which consent shall not be unreasonably withheld, to: (1) employ legal, accounting, clerical, and other assistance as may be reasonably required in carrying out the provisions of this Agreement: and (2) pay their reasonable expenses and compensation from the Trust, if not paid by the Sponsor. (vii) To do all other acts although not specifically mentioned herein, as the Trustee may deem reasonably necessary to carry out any of the foregoing powers and the purposes of the Trust. (viii) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (f) To settle, compromise, or submit . Notwithstanding any powers granted to arbitration any claims, debts, or damages due Trustee pursuant to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortune. (g) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and to pay their reasonable expenses and compensation from dividing the Trust if not paid by Fortune. (h) To invest all gains therefrom, within the meaning of any part Section 301.7701-2 of the assets of the Trust in guaranteed interest contracts Procedure and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of Administrative Regulations promulgated pursuant to the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (i) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Trust Agreement (FMC Technologies Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b) and (c) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Committee or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, ; provided that the cost of such borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. The Sponsor acknowledges that it has received the disclosure on the Trustee’s line of credit program and credit allocation policy and a copy of the text of Prohibited Transaction Class Exemption 2002-55 prior to executing this Agreement if applicable. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (hviii) To invest all of or any part of the assets of the Trust in guaranteed interest investment contracts and short-short term investments (including interest bearing accounts with the Trustee of or money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the . The provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iix) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Trust Agreement (Expedia, Inc.)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank or other financial institution not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. The Sponsor acknowledges that it has received the disclosure on the Trustee’s line of credit program and credit allocation policy and a copy of the text of Prohibited Transaction Exemption 2002-55 prior to executing this Agreement if applicable. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iviii) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code. The Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Shaw Group Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fv) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortune.the Sponsor. Confidential Information 9 (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to the Trustee pursuant to this Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code. The Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Barnes Group Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b), (c) and (d) of this Trust AgreementSection 4, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (ii) Subject to paragraphs (b) and (c) of this Section 4, to invest in guaranteed investment contracts and short term investments (including interest-bearing accounts with the Trustee or money market mutual funds advised by affiliates of the Trustee) and in collective investment funds maintained by the Trustee for qualified plans, in which case the provisions of each collective investment fund in which the Trust is invested shall be deemed adopted by the Sponsor and the provisions thereof incorporated as a part of this Trust as long as the fund remains exempt from taxation under Sections 401(a) and 501(a) of the Internal Revenue Code of 1986, as amended (the "Code"). (iii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (civ) To keep that portion of the Trust in cash or cash balances as Fortune the Named Fiduciary or Administrator may, from time to time, deem to be in the best interest of the Trust. (dv) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iviii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Trust Agreement (Arkansas Best Corp /De/)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b) and (c) of this Trust AgreementSection 4, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Named Fiduciary or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, ; provided that the cost of such borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (hviii) To invest all of or any part of the assets of the Trust in guaranteed interest investment contracts and short-short term investments (including interest bearing accounts with the Trustee of or money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the . The provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iix) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Trust Agreement (Sybase Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions subsections (b), (c) and (e) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, transfer or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, expediency or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, nominees or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Named Fiduciary or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in the Stock Fund in a timely fashion, ; provided that the cost of such borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need Stock Fund. The Sponsor acknowledges that it has received the disclosure on the Trustee’s line of liquiditycredit program and credit allocation policy and a copy of the text of Prohibited Transaction Exemption 2002-55 prior to executing this Agreement if applicable. (fvi) To settle, compromise, compromise or submit to arbitration any claims, debts, debts or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay from the Trust all reasonable expenses arising from any such action, from the Trust action if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, clerical and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (hviii) To invest all of or any part of the assets of the Trust in guaranteed interest investment contracts and short-short term investments (including interest bearing accounts with the Trustee of or money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section section 401(a) and exempt from tax under Section section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the . The provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iix) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Master Trust Agreement (Hawaiian Electric Industries Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To If applicable, to borrow funds from a bank or other financial institution not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. The Sponsor acknowledges that it has received the disclosure on the Trustee’s line of credit program and credit allocation policy and a copy of the text of Prohibited Transaction Class Exemption 2002-55 prior to executing this Agreement if applicable. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (iviii) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust. Notwithstanding any powers granted to Trustee pursuant to this Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Code. The Trustee will file an annual fiduciary return to the extent required by law.

Appears in 1 contract

Sources: Trust Agreement (Computer Associates International Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b), (c) and (d) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's own name, in the name of one or more of its nominees, or in the Trustee's account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Sponsor or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (e) To borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, provided that the cost of borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. (fv) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvi) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (h) To invest all of any part of the assets of the Trust in guaranteed interest contracts and short-term investments (including interest bearing accounts with the Trustee of money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. (ivii) To do all other acts although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.. Notwithstanding any powers granted to Trustee pursuant to this Trust Agreement or to applicable law, Trustee shall not have any power that could give this Trust the objective of carrying on a business and dividing the gains therefrom, within the meaning of Section 301.7701-2 of the Procedure and Administrative Regulations promulgated pursuant to the Internal Revenue Code. The Sponsor may provide the Trustee with an opinion of counsel whether an annual fiduciary tax return should be filed for the Trust;

Appears in 1 contract

Sources: Trust Agreement (Sybase Inc)

Trustee Powers. The Trustee shall have the following powers and authority: (ai) Subject to the provisions paragraphs (b) and (c) of this Trust AgreementSection 5, to sell, exchange, convey, transfer, or otherwise dispose of any property held in the Trust, by private contract or at public auction. No person dealing with the Trustee shall be bound to see to the application of the purchase money or other property delivered to the Trustee or to inquire into the validity, expediency, or propriety of any such sale or other disposition. (bii) To cause any securities or other property held as part of the Trust to be registered in the Trustee's ’s own name, in the name of one or more of its nominees, or in the Trustee's ’s account with the Depository Trust Company of New York and to hold any investments in bearer form, but the books and records of the Trustee shall at all times show that all such investments are part of the Trust. (ciii) To keep that portion of the Trust in cash or cash balances as Fortune the Named Fiduciary or Administrator may, from time to time, deem to be in the best interest of the Trust. (div) To make, execute, acknowledge, and deliver any and all documents of transfer or conveyance and to carry out the powers herein granted. (ev) To the extent a unitized option is included in the Plan, to borrow funds from a bank not affiliated with the Trustee in order to provide sufficient liquidity to process Plan transactions in a timely fashion, ; provided that the cost of such borrowing shall be allocated in a reasonable fashion to the investment fund(s) in need of liquidity. The Sponsor acknowledges that it has received the disclosure on the Trustee’s line of credit program and credit allocation policy and a copy of the text of Prohibited Transaction Exemption 2002-55 prior to executing this Agreement if applicable. (fvi) To settle, compromise, or submit to arbitration any claims, debts, or damages due to or arising from the Trust; to commence or defend suits or legal or administrative proceedings; to represent the Trust in all suits and legal and administrative hearings; and to pay all reasonable expenses arising from any such action, from the Trust if not paid by Fortunethe Sponsor. (gvii) To employ legal, accounting, clerical, and other assistance as may be required in carrying out the provisions of this Agreement and to pay their reasonable expenses and compensation from the Trust if not paid by Fortunethe Sponsor. (hviii) To invest all of or any part of the assets of the Trust in guaranteed interest investment contracts and short-short term investments (including interest bearing accounts with the Trustee of or money market mutual funds advised by affiliates of the Trustee) and in any collective investment trust or group trust, including any collective investment trust or group trust maintained by the Trustee, which then provides for the pooling of the assets of plans described in Section 401(a) and exempt from tax under Section 501(a) of the Code, or any comparable provisions of any future legislation that amends, supplements, or supersedes those sections, provided that such collective investment trust or group trust is exempt from tax under the Code or regulations or rulings issued by the Internal Revenue Service; the . The provisions of the document governing such collective investment trusts or group trusts, as it may be amended from time to time, shall govern any investment therein and are hereby made a part of this Trust Agreement. . (iix) To do all other acts acts, although not specifically mentioned herein, as the Trustee may deem necessary to carry out any of the foregoing powers and the purposes of the Trust.

Appears in 1 contract

Sources: Trust Agreement (Zions Bancorporation, National Association /Ut/)