Common use of No Discretionary Authority Clause in Contracts

No Discretionary Authority. Notwithstanding any other provisions of this Agreement to the contrary, Stone Coast shall not have any discretionary authority or control with respect to the management of the assets of any Client, nor any discretionary authority or responsibility in the administration of a Client, and shall not be required to accept or exercise any such discretionary authority, control or responsibility that would cause Stone Coast to be deemed a fiduciary or to undertake any action that could possibly characterize Stone Coast as a fiduciary, as defined in Section 3(21) of the United States Employee Retirement Income Security Act of 1974, of any plan whose assets are invested in a Client.

No Discretionary Authority. Notwithstanding any other provisions of this Agreement to the contrary, Stone Coast shall not have any discretionary authority or control with respect to the management of the assets of any Client, nor any discretionary authority or responsibility in the administration of a Client, and shall not be required to accept or exercise any such discretionary authority, control or responsibility that would cause Stone Coast to be deemed a fiduciary or to undertake any action that could possibly characterize Stone Coast as a fiduciary, as defined in Section 3(21) of the United States Employee Retirement Income Security Act of 1974, of any plan whose assets are invested in a Client.. REMAINDER OF PAGE INTENTIONALLY LEFT BLANK