Named Fiduciary and Allocation of Responsibilities Sample Clauses

Named Fiduciary and Allocation of Responsibilities. Pursuant to ERISA, the Company shall be the sole named fiduciary with respect to the Plan and, except as otherwise stated with respect to the powers and authority of the Board of Administration in Section 2 of this Article VI, below, shall have authority to control and manage the operation and administration of the Plan. The Board of Directors shall have the authority on behalf of the Company to determine major funding policy under the Plan, to appoint and remove trustees under the Plan, to approve policies relating to the allocation of contributions and the distribution of assets among trustees, and to approve Plan amendments except that the Vice President-General Xxxxxxx and Secretary, Vice President-Human Resources and Vice Chairman and Chief Financial Officer are designated to approve Plan additions, deletions and modifications on behalf of the Company to the extent deemed necessary or appropriate under ERISA or the Internal Revenue Code. The Vice Chairman and Chief Financial Officer shall be authorized on behalf of the Company to carry out a funding policy and method with respect to the Plan, to contract with the trustees under the Plan and to determine the form and terms of the trust agreements to be entered into with such trustees and to allocate contributions and distribute assets among trustees, and shall have authority to designate other persons to carry out specific responsibilities in connection therewith provided, however, that such actions shall be consistent with ERISA, the policy of the Board of Directors and the Plan. Except as otherwise provided in this Subsection or elsewhere in the Plan, the Vice President-Human Resources and the Vice Chairman and Chief Financial Officer are designated to carry out the Company’s responsibilities with respect to the Plan. The Vice President-Human Resources and the Vice Chairman and Chief Financial Officer may allocate responsibilities between themselves and may designate other persons to carry out specific responsibilities on behalf of the Company. In the event of a change in a designated officer’s title, the officer or officers with functional responsibility for the Plan shall have the authority to the extent described in this subsection. Any Company director, officer or employee who shall have been expressly designated pursuant to the Plan to carry out specific Company responsibilities shall be acting on behalf of the Company. Any person or group of persons may serve in more than one capacity with resp...
Sample 1
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Named Fiduciary and Allocation of Responsibilities. Pursuant to ERISA, the Company shall be the sole named fiduciary with respect to the Plan and, except as otherwise stated with respect to the powers and author- ity of the Board of Administration in Section 2 of this Article VI, below, shall have authority to control and manage the operation and administration of the Plan. The Board of Directors shall have the authority on behalf of the Company to determine major funding policy under the Plan, to appoint and remove trustees under the Plan, to approve policies relating to the allocation of contribu- tions and the distribution of assets among trustees, and to approve Plan amendments except that the Vice President-General Counsel and Secretary, Vice President-Human Resources and Vice Chairman and Chief Financial Officer are designated to approve Plan additions, deletions and modifications on behalf of the Company to the extent deemed necessary or appropriate under ERISA or the Internal Revenue Code. The Vice Chairman and Chief Financial Officer shall be authorized on behalf of the Company to carry out a funding policy and method with respect to the Plan, to contract with the trustees under the Plan and to deter-
Sample 1

Related to Named Fiduciary and Allocation of Responsibilities

  • Allocation of Responsibility 6.1 For the purposes of this Schedule 8 responsibility for each minute of delay included in Minutes Delay, each Third Party Train Cancellation, each Diversion, each Failure to Stop and each Planned Service Cancellation shall be allocated according to the responsibility for the incident which caused such Minutes Delay, Third Party Train Cancellation, Diversion, Failure to Stop or Planned Service Cancellation as established in accordance with the following provisions of this paragraph 6.

  • Administrative Responsibilities With respect to each Trust Fund, the Administrator (on behalf of the Trustee) shall hold and administer, or supervise the administration of, the REMIC Pools and MACR Pools in a manner consistent with and to the extent required by standards of prudence and in substantially the same manner as the Administrator holds and administers assets of the same or similar type held for its own account. In performing its responsibilities hereunder, the Administrator may employ independent contractors or agents. Except as provided in Articles VI, VII and VIII and Sections 9.05 and 9.06 of this Agreement, the Administrator shall not be subject to the control of Holders in any manner whatsoever in the discharge of its responsibilities pursuant to this Agreement. Except with regard to its indemnities under Sections 2.05 and 9.01, the Administrator shall have no liability to any Holder other than for any direct damage resulting from the Administrator’s failure to exercise that degree of ordinary care which it exercises in the conduct and management of its own affairs. In no event shall the Administrator have any liability of any nature for consequential damages. Nothing in this Section shall relieve Xxxxxxx Mac, in its capacity as Guarantor, of its guarantee obligation pursuant to Section 4.06.

  • Delegation of Responsibility Transmission Provider may use the services of subcontractors as it deems appropriate to perform its obligations under this LGIP. Transmission Provider shall remain primarily liable to Interconnection Customer for the performance of such subcontractors and compliance with its obligations of this LGIP. The subcontractor shall keep all information provided confidential and shall use such information solely for the performance of such obligation for which it was provided and no other purpose.

  • Employer Responsibilities Recognizing the inherent risk(s) in a correctional setting, the Employer is obligated to provide a safe workplace and to educate employees on proper safety procedures and use of protective and safety equipment. The Employer is committed to responding to legitimate safety concerns raised by the Union and employees. The Employer will comply with federal and state safety standards, including requirements relating to first aid training, first aid equipment and the use of protective devices and equipment.

  • Administrative Responsibility Except as otherwise provided herein, the City shall retain all rights and duties pursuant to the Charter of the City to operate and direct the Department of Fire & Rescue Operations.

  • IRO Responsibilities The IRO shall:

  • Employer Responsibility The Employer accepts its responsibility to insure equal opportunity in all aspects of employment for all qualified persons regardless of race, creed, religion, color, national origin, age, disability, reliance on public assistance, sex, marital status, sexual orientation/affectional preference, or any other class or group distinction, as set forth by state or federal anti-discrimination laws, or in Board policy.

  • Scope of Responsibilities The responsibilities of the Operating Committee shall be the following:

  • Member Responsibilities The Member’s responsibilities shall include, but are not limited to:

  • Limitation of Responsibility Notwithstanding any other provisions ---------------------------- hereof, Committee Members shall be liable to the parties only for actions constituting bad faith, gross negligence or breach of an express provision of this Agreement (so long as such breach remains uncured after ten (10) days of receiving notice of the nature of such breach). In all other respects, Committee Members shall not be liable for negligence or mistakes of judgment.

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