Common use of Fiduciary Activities Clause in Contracts

Fiduciary Activities. The Company and each of its Subsidiaries has properly administered in all respects material and which could reasonably be expected to be material to the financial condition of the Company and its Subsidiaries taken as a whole all accounts for which it acts as a fiduciary, including but not limited to accounts for which it serves as a trustee, agent, or custodian, in accordance with the terms of the governing documents and applicable state and federal law and regulation and common law. Neither the Company nor any Subsidiary has committed any breach of trust with respect to any such fiduciary account which is material to or could reasonably be expected to be material to the financial condition of the Company and its Subsidiaries taken as a whole, and the accountings for each such fiduciary account are true and correct in all material respects and accurately reflect the assets of such fiduciary account.