Direction of Investment. You acknowledge that it is your sole responsibility to direct the investment of your IRA assets and that we, acting as custodian of your account, will have no responsibility or involvement in evaluating or selecting any assets for acquisition or disposition, and shall have no liability for any loss or damage that may result from or be associated with any requested investment transaction. You shall direct all investment transactions, including earnings and the proceeds from securities sales. Your investment choices are limited to investments that the Custodian is capable of holding in the ordinary course of its business and in accordance with its policies and practices. At our sole discretion, we reserve the right to not accept any investment into your custodial account. Certain types of investments may pose unacceptable administrative burdens to us, and therefore, we reserve the right to not accept such investments into your custodial account. Administrative burdens include, but are not limited to, the inability of our computer, accounting, or other systems to service the asset or excessive manual labor to service the asset. In addition, all assets must comply with Trust Company policies. We reserve the right to review any or all investments to determine if the asset is administratively feasible to us. Our review will be solely administrative in nature. Our decision to not accept an asset should in no way be construed as a determination concerning the prudence or suitability of the investment for your IRA. Likewise, acceptance of the asset by us should not be construed as a favorable opinion as to the prudence or suitability of the investment for your IRA. Our review of any asset you desire to purchase and hold in your custodial account should in no way be construed as a “due diligence” review. We do not perform any type of feasibility study, nor do we research or confirm any financial information regarding any investment. You and upon your death, your Beneficiary agree to indemnify and hold harmless the Custodian from and against all losses, expenses, settlement payments, or judgements incurred by, or entered against the Custodian as the result of any threatened or asserted claim against the Custodian that pertains in any way to: the Custodian’s activities with you; your investments; and/or any situation or matter associated with this account. Your indemnification obligations also include the responsibility to reimburse the Custodian for all attorneys’ fe...
Direction of Investment. Notwithstanding anything contained in this Agreement to the contrary, Grantor retains the right to direct the investment of the Trust Fund and the Trustee shall have no duty to review or recommend investments; provided, however, that Grantor shall only direct the Trustee to invest the Trust Fund in Eligible Securities in accordance with Grantor’s current cash-management policies. If Grantor instructs the Trustee to invest in securities other than in Cash, Government Securities, Municipal Securities, Corporate Securities, Money Market Funds or Treasury Securities, such instruction shall be accompanied by the written consent of the Beneficiaries’ Representative as to the investment(s) in such Other Eligible Securities. If for any reason Grantor shall fail to direct the Trustee pursuant to written instructions as to how to invest the Trust Fund (including the consent of the Beneficiaries’ Representative if the proposed investment is in other than Eligible Securities), the Trustee shall invest the Trust Fund in accordance with the last instruction received. In the event the Trustee is required to make a distribution pursuant to Section 4.7 at a time when the Trust Fund has insufficient cash to cover such distribution, the Trustee shall promptly notify the Grantor. The Grantor shall then direct the Trustee as to which Trust investments to liquidate in order to cover the required distribution; if Grantor does not respond to the Trustee’s inquiry within two (2) Business Days the Trustee shall liquidate investments in the order specified in Exhibit B. The Trustee may purchase or sell to itself or any affiliate, as principal or agent, investments authorized by this Agreement. Grantor and the Beneficiaries’ Representative acknowledge that regulations of the Comptroller of the Currency grant the right to receive brokerage confirmations of the security transactions as they occur, at no additional cost. To the extent permitted by law, Grantor and the Beneficiaries’ Representative specifically waive compliance with 12 CFR 12 and hereby notify the Trustee that no brokerage confirmations need be sent relating to the security transactions as they occur.
Direction of Investment. Except for the limited investment rights granted to the Depositor in Article V of this agreement, the Responsible Individual has the exclusive responsibility for and control over the investment of the assets of the Xxxxxxxxx ESA. The Responsible Individual shall direct all investment transactions, including earnings and the proceeds from securities sales. The selection of investments, however, shall be limited to any investment vehicle approved and obtainable by the Custodian that the Custodian is capable of holding in the ordinary course of business. For example, investments may include but shall not be limited to common stocks, government and corporate bonds, mutual funds, the purchase of put options on existing positions and writing of covered listed call options. Investments not generating confirmations must be accompanied by additional written instructions. The Custodian shall act as a stockbroker or dealer whenever such services are required. In the absence of instructions from the Responsible Individual or if the instructions are not in a form acceptable to the Custodian, the Custodian shall hold any uninvested amounts in cash and shall have no responsibility to invest uninvested cash unless and until directed by the Responsible Individual. All transactions shall be subject to any and all applicable Federal and State laws and regulations and the rules, regulations, customs and usages of any exchange, market or clearing house where the transaction is executed and to the Custodian’s policies and practices. After the Responsible Individual’s death, the Successor Responsible Individual (Designated Beneficiary, if applicable) shall have the right to direct the investment of Xxxxxxxxx ESA assets, subject to the same conditions that applied to the Responsible Individual during his or her lifetime under this agreement (including, without limitation, Section 10.02).
Direction of Investment. Notwithstanding anything contained in this Agreement to the contrary, Grantor retains the right to direct the investment of the Trust Fund and Trustee shall have no duty to review or recommend investments; provided, however, that the Grantor shall only direct the Trustee to invest the Trust Fund in Eligible Securities in accordance with Grantor’s current cash-management policies. If the Grantor instructs the Trustee to invest in securities other than in Cash, Government Securities, Municipal Securities, Money Market Funds or Treasury Securities, such instruction shall be accompanied by the written consent of the Beneficiaries’ Representative as to the investment(s) in such Other Eligible Securities. Unless otherwise instructed by Grantor in writing, the Trustee shall initially invest the Trust Fund in the investments set forth on Exhibit B. If for any reason one or more investments on Exhibit B shall not be available, and Grantor shall fail to direct the Trustee pursuant to written instructions as to how to invest the Trust Fund (including the consent of Beneficiaries’ Representative if the proposed investment is in other than Eligible Securities), the Trustee shall invest the Trust Fund in Money Market Funds. In the event the Trustee is required to make a distribution pursuant to Section 4.7 at a time when the Trust Fund has insufficient cash to cover such distribution, the Trustee shall seek the advice of the Grantor with regard to which Trust investments to liquidate in order to cover the required distribution; if the Grantor does not respond to the Trustee’s inquiry within forty-eight (48) hours the Trustee shall use its discretion in choosing which investments to liquidate.
Direction of Investment. Board of Directors may from time to time specify by written notice to the Trustee whether the investment of the Legal Defense Fund shall be managed by one or more Investment Managers appointed by the Board of Directors, or whether both the Trustee and one or more Investment Managers are to participate in investment management and if so how the investment responsibility is to be divided with respect to assets, classes of assets or separate investment funds specified and defined in such notice. If an investment of the Legal Defense Fund is to be directed in whole or in part by an Investment Manager, the Trustee shall be given copies of the instruments appointing the Investment Manager and evidencing its acceptance of such appointment and acknowledgment that it is a fiduciary of the Plan, and a certificate evidencing the Investment Manager’s compliance with the registration requirements of ERISA Section 3(38). The Trustee may continue to rely upon such instruments and certificates until otherwise notified in writing. The Trustee shall follow the directions of an Investment Manager regarding the investment and reinvestment of the Legal Defense Fund, or such portion as is under management by the Investment Manager, and shall be under no duty or obligation to review any investment to be acquired, held or disposed of pursuant to such direction nor to make any recommendations with respect to the disposition or continued retention of any such investment. The Trustee shall have no liability or responsibility for acting without question on the direction of, or failing to act in the absence of any direction from, the Investment Manager, unless the Trustee knows that by such action or failure to act it will be participating in a breach of fiduciary duty by the Investment Manager. The Investment Manager at any time and from time to time may issue orders for the purchase or sale of securities directly to a broker, and in order to facilitate such transaction the Trustee upon request shall execute and deliver appropriate trading authorizations. The Investment Manager shall give written notification of the issuance of each such order promptly to the Trustee, and the broker shall confirm the execution of each such order to the Trustee. Such notification shall be authority for the Trustee to pay for securities purchased against receipt thereof and to deliver securities sold against payments therefor. In the event that an Investment Manager should resign or be removed, the Tru...
Direction of Investment. The Assets, other than the Trust Shares, shall be invested and reinvested by the Trustee in United States Treasury bills having a maturity of 30 days or less ("30-Day Treasuries"), and all interest, income and profit shall be added to and become a part of the Trust, and all brokers' commissions, fees, expenses and losses, if any, relating thereto shall be charged against the Trust. In the event that 30-Day Treasuries have matured, and the Assets invested in such matured 30-Day Treasuries cannot immediately be reinvested in 30-Day Treasuries, the Trustee shall place any such Assets in a money market account pending reinvestment. Notwithstanding any provision to the contrary in this Section 2.4, the Trustee is hereby directed to hold uninvested such monies or to liquidate and/or sell such monies as the Trustee, in its sole discretion, considers necessary to meet anticipated and imminent disbursements, including any payments pursuant to Section 5.3 hereof, without regard to any penalty or loss incurred as a result of liquidation prior to the maturity or sale of such Assets. To the extent the Trustee is uncertain as to the appropriate action to be taken in regard to the investment of the Assets, the Trustee shall be permitted to accept instructions in that regard from the Company. The Trustee shall not be liable or responsible for making any investment authorized by the provisions of this Agreement, in the manner provided in this Agreement or omitting to make any investment not authorized by this Agreement, or for any loss resulting from any such investment so made or omission to so make. The Trustee may deem investments directed by the Company to be appropriate investments without independent investigation thereof.
Direction of Investment. You acknowledge that it is your responsibility (either directly or through the Plan Administrator or the Account Representative) to direct the investment of Plan assets and that we have no responsibility or involvement in evaluating or selecting any assets for acquisition or disposition. We have no liability for any loss or damage that may result from or be associated with any requested investment transaction. You shall direct all investment transactions, including earnings and the proceeds from Plan asset sales. At our sole discretion, we reserve the right to decline any investment into the Plan. Certain types of assets may pose unacceptable administrative burdens to us, and therefore, we reserve the right to refuse such assets into the Plan. Administrative burdens include, but are not limited to, the inability of our computer, accounting, or other systems to service the asset or excessive manual labor to service the asset. In addition, all assets must comply with our policies. We reserve the right to review any or all assets to determine if it is administratively feasible to us. Our decision to either accept or refuse an asset should not be construed as a determination concerning the prudence or suitability of the investment for the Plan. Our review of any asset you desire to purchase and hold in the Plan will be solely administrative in nature and should not be construed as a “due diligence” review. We do not perform any type of feasibility study, nor do we research or confirm any financial information regarding any investment. In the absence of instructions from you in an acceptable form to us, we shall hold your Undirected Cash in an account or product of an FDIC, NCUSIF or other United States government insured financial institution (including but not limited to Fidelity Bank), United States government security, or security that is insured or guaranteed by the United States government. You acknowledge that Undirected Xxxx is insured for up to the amount available under the FDIC/ NCUSIF insurance; amounts in the account in excess of FDIC/NCUSIF insurance limits are not insured. Directions regarding the Plan must be in writing from either you, the Plan Administrator or Account Representative. In the event that we receive written investment directions from either you, the Plan Administrator or Account Representative, we may rely on the genuineness of all signatures and have no duty to investigate any directions or investment decisions. You authorize us ...
Direction of Investment. Except as set forth herein, Grantor shall have the exclusive right to direct the investment of the Trust Fund, provided, however, that such investments shall be limited solely to investments in Eligible Securities. The Trustee shall have no duty to review or recommend investments. If for any reason investments in any Eligible Securities as directed by Grantor cannot be made, or if Grantor shall fail to direct the Trustee pursuant to written instructions as to how to invest the Trust Fund, the Trustee shall invest in U.S.Treasury bills with a maturity of less than two (2) years. If the Trustee is required to make a distribution pursuant to Section 4.6 at a time when the Trust Fund has insufficient cash to cover such distribution, the Trustee shall seek the written direction of Grantor with regard to which Trust investments to liquidate in order to cover the required distribution. Grantor shall respond to the Trustee in writing within forty-eight (48) hours to any such request by the Trustee for direction with regard to which Trust investments to liquidate in order to cover the required distributions.
Direction of Investment. Notwithstanding anything contained herein to the contrary, Grantor retains the right to direct the investment of the Trust Fund and the Trustee shall have no duty to review or recommend investments. In the event the Trustee is required to make a distribution pursuant to Section 2.7 hereof at a time when the Trust Fund has insufficient cash to cover such distribution, the Trustee shall seek the advice of the Grantor with regard to which Trust investments to liquidate in order to cover the required distribution; if the Grantor does not respond to the Trustee's inquiry within forty-eight (48) hours the Trustee shall use its discretion in choosing which investments to liquidate.
Direction of Investment. The Assets shall be invested and reinvested by the Trustee, in its sole discretion, in the assets specified in Exhibit B hereto, and all interest, income and profit shall be added to and become a part of the Trust, and all brokers’ commissions, fees, expenses and losses, if any, relating thereto shall be charged against the Trust. Notwithstanding any provision to the contrary in this Section 2.3, the Trustee is hereby directed to hold uninvested such monies or to liquidate or sell such Assets as the Trustee, in its sole discretion, considers necessary to meet anticipated and imminent disbursements, including any payment pursuant to Article III or Section 6.3 hereof, without regard to any penalty or loss incurred as a result of liquidation prior to the maturity or sale of such Assets.
