Common use of Fiduciary Responsibility Clause in Contracts

Fiduciary Responsibility. (a) The Trustee shall discharge its duties under this Trust Agreement in a manner consistent with the objectives of this Trust Agreement and in accordance with applicable law. Except as otherwise provided in this Trust Agreement, or under applicable law, the Trustee shall have no liability for (i) loss sustained by the Trust Fund by reason of the purchase, retention, sale or exchange of any investment made in accordance with the written directions of the Dime or the Committee; (ii) failure of the Company or the Bank to make contributions to the Trust Fund; or (iii) for any insufficiency of assets in the Trust Fund to pay Benefits when due, unless such loss, failure or insufficiency is the result of the Trustee's own negligence or willful misconduct.

Fiduciary Responsibility. (a) The Trustee shall discharge its duties under this Trust Agreement in a manner consistent with the objectives of this Trust Agreement and in accordance with applicable law. Except as otherwise provided in this Trust Agreement, or under applicable law, the Trustee shall have no liability for (i) loss sustained by the Trust Fund by reason of the purchase, retention, sale or exchange of any investment made in accordance with the written directions of the Dime or the CommitteeBank; (ii) failure of the Company or the Bank to make contributions to the Trust Fund; or (iii) for any insufficiency of assets in the Trust Fund to pay Benefits when dueamounts contemplated hereunder, unless such loss, failure or insufficiency is the result of the Trustee's own negligence or willful misconduct.