Common use of Assignment of Responsibility Clause in Contracts

Assignment of Responsibility. Each Named Fiduciary shall have only such powers and responsibilities as are expressly assigned to it in this Trust Agreement for the control, safekeeping, management, investment and administration of the Fund; provided, in the event of any ambiguity or in the event a power or responsibility is not expressly assigned to a specific Named Fiduciary the power or responsibility shall be deemed to have been assigned to the Committee. The Trustee shall have no responsibility to inquire into the acts and omissions of the Committee or the Investment Committee in the exercise of powers or the discharge of responsibilities assigned to the Committee or Investment Committee under this Agreement.

Assignment of Responsibility. Each Named Fiduciary shall have only such powers and responsibilities as are expressly assigned to it in this Trust Agreement for the control, safekeeping, management, investment and administration of the Fund; provided, in the event of any ambiguity or in the event a power or responsibility is not expressly assigned to a specific Named Fiduciary the power or responsibility shall be deemed to have been assigned to the CommitteeCommittees in accordance with the Plan. The Trustee shall have no responsibility to inquire into the acts and omissions of the Committee or the Investment Committee Committees in the exercise of powers or the discharge of responsibilities assigned to the Committee or Investment Committee Committees under this Agreement.