Common use of Delegation of Investment Responsibility Clause in Contracts

Delegation of Investment Responsibility. Regardless of any other provision of this Agreement to the contrary, the Participant may also appoint an investment professional or other person to act as the Participant’s representative with authority to direct the Custodian with respect to the investment of assets in the Custodial Account. The appointment, however, will be effective only if (1) the Custodian has received an executed copy of an agreement between the Participant and the representative in a form and manner acceptable to the Custodian that specifies the authority of the representative to act on behalf of the Participant, and (2) the Custodian does not object to acting on the direction of that person, which objection the Custodian may assert for any reason at any time. If the Participant appoints a representative, as provided for above, references to the Participant in this section (“Investment of Contributions”) of this Agreement and in the “Powers, Duties, and Obligations of Custodian” section (Article VIII, Section 7) of this Agreement (insofar as pertinent to securities with respect to which the representative has investment authority) are also to that representative. However, all references in this Agreement to the individual whose Custodial Account is involved and to the making of contributions and the receipt of distributions are only to the Participant. The Participant may revoke the authority of any representative at any time by notifying the Custodian in a form and manner acceptable to the Custodian and the Custodian shall not be liable in any way for the transactions initiated prior to its receipt of such notice.

Delegation of Investment Responsibility. Regardless of any other provision of this Agreement to the contrary, the Participant may also appoint an investment professional or other person to act as the Participant’s representative with authority to direct the Custodian with respect to the investment of assets in the Custodial Account. The appointment, however, will be effective only if (1) the Custodian has received an executed copy of an agreement between the Participant and the representative in a form and manner acceptable to the Custodian that specifies the authority of the representative to act on behalf of the Participant, and (2) the Custodian does not object to acting on the direction of that person, which objection the Custodian may assert for any reason at any time. If the Participant appoints a representative, as provided for above, references to the Participant in this section (“Investment of Contributions”) of this Agreement and in the “Powers, Duties, and Obligations of Custodian” section (Article VIII, Section section 7) of this Agreement (insofar as pertinent to securities with respect to which the representative has investment authority) are also to that representative. However, all references in this Agreement to the individual whose Custodial Account is involved and to the making of contributions and the receipt of distributions are only to the Participant. The Participant may revoke the authority of any representative at any time by notifying the Custodian in a form and manner acceptable to the Custodian and the Custodian shall not be liable in any way for the transactions initiated prior to its receipt of such notice.

Delegation of Investment Responsibility. Regardless of any other provision of this Agreement to the contrary, the Participant may also appoint an investment professional or other person to act as the Participant’s representative with authority to direct the Custodian with respect to the investment of assets in the Custodial Account. The appointment, however, will be effective only if (1) the Custodian has received an executed copy of an agreement between the Participant and the representative in a form and manner acceptable to the Custodian that specifies the authority of the representative to act on behalf of the Participant, and (2) the Custodian does not object to acting on the direction of that person, which objection the Custodian may assert for any reason at any time. If the Participant appoints a representative, as provided for above, references to the Participant in this section (“Investment of Contributions”) of this Agreement and in the “Powers, Duties, and Obligations of Custodian” section (Article VIIIIX, Section 7) 8) of this Agreement (insofar as pertinent to securities with respect to which the representative has investment authority) are also to that representative. However, all references in this Agreement to the individual whose Custodial Account is involved and to the making of contributions and the receipt of distributions are only to the Participant. The Participant may revoke the authority of any representative at any time by notifying the Custodian in a form and manner acceptable to the Custodian and the Custodian shall not be liable in any way for the transactions initiated prior to its receipt of such notice.

Delegation of Investment Responsibility. Regardless of any other provision of this Agreement to the contrary, the Participant may also appoint an investment professional or other person to act as the Participant’s representative with authority to direct the Custodian with respect to the investment of assets in the Custodial Account. The appointment, however, will be effective only if (1) the Custodian has received an executed copy of an agreement between the Participant and the representative in a form and manner acceptable to the Custodian that specifies the authority of the representative to act on behalf of the Participant, and (2) the Custodian does not object to acting on the direction of that person, which objection the Custodian may assert for any reason at any time. If the Participant appoints a representative, as provided for above, references to the Participant in this section (“Investment of Contributions”) of this Agreement and in the “Powers, Duties, and Obligations of Custodian” section (Article VIIIIX, Section 7) of this Agreement (insofar as pertinent to securities with respect to which the representative has investment authority) are also to that representative. However, all references in this Agreement to the individual whose Custodial Account is involved and to the making of contributions and the receipt of distributions are only to the Participant. The Participant may revoke the authority of any representative at any time by notifying the Custodian in a form and manner acceptable to the Custodian and the Custodian shall not be liable in any way for the transactions initiated prior to its receipt of such notice.

Delegation of Investment Responsibility. Regardless of any other provision of this Agreement to the contrary, the Participant may also appoint an investment professional or other person to act as the Participant’s representative with authority to direct the Custodian with respect to the investment of assets in the Custodial Account. The appointment, however, will be effective etfective only if (1) the Custodian has received an executed copy of an agreement between the Participant and the representative in a form and manner acceptable to the Custodian that specifies the authority of the representative to act on behalf of the Participant, and (2) the Custodian does not object to acting on the direction of that person, which objection the Custodian may assert for any reason at any time. If the Participant appoints a representative, as provided for above, references to the Participant in this section (“Investment of Contributions”) of this Agreement and in the “Powers, Duties, and Obligations of Custodian” section (Article VIII, Section 7) of this Agreement (insofar as pertinent to securities with respect to which the representative has investment authority) are also to that representative. However, all references in this Agreement to the individual whose Custodial Account is involved and to the making of contributions and the receipt of distributions are only to the Participant. The Participant may revoke the authority of any representative at any time by notifying the Custodian in a form and manner acceptable to the Custodian and the Custodian shall not be liable in any way for the transactions initiated prior to its receipt of such notice.

Delegation of Investment Responsibility. Regardless of any other provision of this Agreement to the contrary, the Participant may also appoint an investment professional or other person to act as the Participant’s representative with authority to direct the Custodian with respect to the investment of assets in the Custodial Account. The appointment, however, will be effective etfective only if (1) the Custodian has received an executed copy of an agreement between the Participant and the representative in a form and manner acceptable to the Custodian that specifies the authority of the representative to act on behalf of the Participant, and (2) the Custodian does not object to acting on the direction of that person, which objection the Custodian may assert for any reason at any time. If the Participant appoints a representative, as provided for above, references to the Participant in this section (“Investment of Contributions”) of this Agreement and in the “Powers, Duties, and Obligations of Custodian” section (Article VIII, Section section 7) of this Agreement (insofar as pertinent to securities with respect to which the representative has investment authority) are also to that representative. However, all references in this Agreement to the individual whose Custodial Account is involved and to the making of contributions and the receipt of distributions are only to the Participant. The Participant may revoke the authority of any representative at any time by notifying the Custodian in a form and manner acceptable to the Custodian and the Custodian shall not be liable in any way for the transactions initiated prior to its receipt of such notice.