Asset Managers Sample Clauses
The 'Asset Managers' clause defines the roles, responsibilities, and authority of individuals or entities appointed to manage assets on behalf of another party, such as a fund or trust. Typically, this clause outlines the scope of the asset manager's powers, including investment decisions, reporting obligations, and any limitations or requirements for approval. By clearly delineating these duties and boundaries, the clause ensures that asset management is conducted in accordance with the agreed terms, thereby protecting the interests of the asset owner and providing accountability for the manager's actions.
Asset Managers. Manage funding allocations and identify eligible assets to achieve performance goals for their asset class.
Asset Managers. Discretionary authority for the management and control of assets of a Participating Plan from time to time held in the Master Fund may be retained, allocated or delegated. as the case may be, for one or more purposes, to and among the Asset Managers by the Named Fiduciary, in its absolute discretion. The terms and conditions of appointment, authority and retention of any Asset Manager shall be the sole responsibility of the Named Fiduciary. The Named Fiduciary shall promptly notify the Trustee in writing of the appointment or removal of an Asset Manager. Any notice of appointment pursuant to this Section 4.1 shall constitute a representation and warranty that the Asset Manager has been appointed in accordance with the provisions of the, Participating Plan and that any Asset Manager (other than the Trustee or the Named Fiduciary) is an Investment Manager.
Asset Managers. (a) The Benefit Committee will from time to time, in its sole discretion, appoint one or more Asset Managers to manage specified portions of the Fund. Upon the appointment of each Asset Manager, the Benefit Committee shall so notify the Master Trustee and instruct the Master Trustee in writing to separate into a separate account those assets as to which each Asset Manager has discretion and control. The Asset Manager shall designate in writing the person or persons who are to represent any such Asset Manager in dealings with the Master Trustee. Upon the separation of the assets in accordance with the instructions of the Benefit Committee, the Master Trustee shall thereupon be relieved and released of all investment duties, responsibilities and liabilities normally and statutorily incident to a Master Trustee as to such Directed Funds, and, as to such Directed Funds, the Master Trustee shall act as custodian. Except as otherwise provided by the Benefit Committee in writing from time to time, the Master Trustee shall take no action as to such Directed Funds with respect to the duties or powers allocated to an Asset Manager in Section 6 or Section 7 without receipt of written directions of the Asset Manager. Unless specifically prohibited in writing, the Master Trustee, as custodian, may hold the assets of such Directed Funds in the name of a nominee or nominees.
(b) Should an Asset Manager at any time elect to place security transactions directly with a broker or dealer, the Master Trustee shall not recognize such transaction unless and until it has received instructions or confirmation of such fact from the Asset Manager. Should the Asset Manager direct the Master Trustee to utilize the services of any person with regard to the assets under its management or control, such instructions shall be in writing and shall specifically set forth the actions to be taken by the Master Trustee as to such services.
(c) In the event that an Asset Manager places security transactions directly or directs the utilization of a service, the Asset Manager shall be solely responsible for the acts of such persons. The sole duty of the Master Trustee as to such transactions shall be incident to its duties as custodian.
Asset Managers. 22.9.1 Subject to Clause 22.9.2, no Obligor shall without the prior written consent of the Agent (such consent not to be unreasonably withheld or delayed):
(A) appoint any asset manager of any Property;
(B) amend or waive any provision of any Asset Management Agreement; or
(C) terminate the appointment of any Asset Manager of any Property.
22.9.2 An Obligor:
(A) may appoint any Affiliate of any Shareholder as Asset Manager of the Properties provided that:
(1) the relevant Asset Management Agreement is approved by the Majority Lenders (acting reasonably);
(2) the fees payable to such Asset Manager under the terms of the relevant Asset Management Agreement are not more than the fees then payable to Argent Estates under the Asset Management Agreement delivered to the Agent in accordance with Schedule 2 (Conditions precedent); and
(3) such Asset Manager of the Properties enters into an Asset Manager Duty of Care Agreement;
(B) may appoint any other person as Asset Manager of the Properties provided that:
(1) the relevant Asset Management Agreement is approved by the Majority Lenders (such approval not to be unreasonably withheld or delayed); and
(2) such Asset Manager of the Properties enters into an Asset Manager Duty of Care Agreement.
22.9.3 If any Asset Manager is in material default in its obligations under the relevant Asset Management Agreement to an extent entitling the relevant Obligor to rescind or terminate that agreement, then if the Agent so requires that Obligor will promptly use all reasonable endeavours to terminate that contract and appoint a new Asset Manager in accordance with Clause 22.9.2.
Asset Managers. Discretionary authority for the management and control of assets in the Fund may be retained, allocated or delegated, as the case may be, for one or more purposes, to and among the Asset Managers by the Company, in its absolute discretion. The terms and conditions of appointment, authority and retention of any Asset Manager shall be the sole responsibility of the Company or its delegate. The Company or its delegate shall promptly notify the Trustee in writing of the appointment or removal of an Asset Manager. Any notice of appointment pursuant to this Section 7 shall constitute a representation and warranty that the Asset Manager has been appointed in accordance with the provisions of the Plan and that any Asset Manager (other than the Trustee, the Company, the Committee or the IMC) is an Investment Manager.
Asset Managers. TO THE EXTENT ASSETS ARE HELD IN CUSTODY AT BANKERS, THE RESPONSIBILITY FOR THE SAFEKEEPING OF THE TRUST FUND SHALL BE VESTED IN THE TRUSTEE, SUBJECT TO THE TERMS OF THIS AGREEMENT. DISCRETIONARY AUTHORITY FOR THE MANAGEMENT AND CONTROL OF ASSETS OF A THE PLAN FROM TIME TO TIME HELD IN THE TRUST FUND MAY BE RETAINED, ALLOCATED OR DELEGATED, AS THE CASE MAY BE, FOR ONE OR MORE PURPOSES, TO AND AMONG THE ASSET MANAGERS SELECTED BY THE NAMED FIDUCIARY, IN ITS ABSOLUTE DISCRETION. THE TERMS AND CONDITIONS OF APPOINTMENT, AUTHORITY AND RETENTION OF ANY ASSET MANAGER SHALL BE THE SOLE RESPONSIBILITY OF THE NAMED FIDUCIARY. THE NAMED FIDUCIARY SHALL PROMPTLY NOTIFY THE TRUSTEE IN WRITING OF THE APPOINTMENT OR REMOVAL OF AN ASSET MANAGER. ANY NOTICE OF APPOINTMENT PURSUANT TO THIS SECTION 4.1 SHALL CONSTITUTE A REPRESENTATION AND WARRANTY THAT THE ASSET MANAGER HAS BEEN APPOINTED IN ACCORDANCE WITH THE PROVISIONS OF THE PLAN AND THAT ANY ASSET MANAGER (OTHER THAN THE TRUSTEE OR THE NAMED FIDUCIARY) IS INTENDED TO BE AN INVESTMENT MANAGER.