Trustee Discretion. Within the expressed intent and purpose of this Agreement, the Trustee shall have sole and absolute discretion in making disbursements to or for the benefit of the Beneficiaries or in declining to make such disbursements. The Beneficiaries have no entitlement to the income or corpus of the Trust, except as the Trustee, in its complete and unfettered discretion, elects to disburse.
Trustee Discretion. The Trustee shall make Trust sub-account distributions consisting of principal and/or income, in Trustee’s absolute discretion for the exclusive benefit of the Beneficiary, as to a need or benefit not otherwise provided for through public assistance benefits in conformity with 42 U.S.C.1396p(d)(4)(C) and the Social Security Policy Operation Manual (“POMS”) SI 01120.203.
Trustee Discretion. Notwithstanding any other provisions to the contrary, the Trustees shall consider vested and first beneficiaries as the trustee's primary interest and responsibility, and contingent and/or remainder beneficiaries as the Trustee's secondary interest and responsibility.
Trustee Discretion. [TEXT OMITTED FOR DEMO PURPOSES]
Trustee Discretion. In the exercise of the authorities powers and discretions vested in it pursuant to this Deed, the Trustee will have an absolute and unfettered discretion and may from time to time exercise or enforce all or any of such powers authorities and discretions and will have power generally to do all such things as the Trustee in its absolute discretion considers appropriate in the administration of the Fund and the performance of its obligations under this Deed.
Trustee Discretion. In relation to any discretion to be exercised or action to be taken by the Trustee under the Trust Deed, the Notes, the Agency Agreement or any related document, the Trustee may, at its discretion and without further notice or shall, if it has been so directed by an Extraordinary Resolution of the Noteholders then outstanding or so requested in writing by the holders of at least one fifth in principal amount of such Notes, exercise such discretion or take such action, provided that (A) in either case, the Trustee shall not be obliged to exercise such discretion or take such action unless it shall have been indemnified and/or secured and/or pre-funded to its satisfaction against all liabilities; and (B) the Trustee shall not be held liable for the consequences of exercising its discretion or taking any such action and may do so without having regard to the effect of such action on individual Noteholders. When determining whether an indemnity or any security or pre-funding is satisfactory to it, the Trustee shall be entitled (i) to evaluate its risk in any given circumstance by considering the worst-case scenario and (ii) to require that any indemnity or security given to it by the Noteholders or any of them be given on a joint and several basis and be supported by evidence satisfactory to it as to the financial standing and creditworthiness of each counterparty and/or as to the value of the security and an opinion as to the capacity, power and authority of each counterparty and/or the validity and effectiveness of the security.
Trustee Discretion. The Trustee shall exercise its discretion over the investment of Trust Account, in the manner set forth under Article VII, including but not limited to having the authority to invest, reinvest, sell and hold all assets of the Trust Account through an authorized asset custodian in accordance with the guidelines established herein or as provided in the Investment Policy Statement approved by the Retirement Board of Authority, or as otherwise provided under applicable law. As applicable, the Trustee may, with the consent of the Retirement Board of Authority, contract with or appoint an Investment Manager who shall be responsible for assisting the Trustee in providing investment management services to the Trust that may include assistance in developing the initial Investment Policy Statement for review and approval by the Retirement Board of Authority, selecting the investments and/or portfolio managers to be used to implement the investment strategies authorized by the Investment Policy Statement, as well as assisting the Retirement Board of Authority in selecting asset allocation models for the Trust Account and reporting on the performance of investments held in the Trust. Without such designation to the Investment Manager, such roles and responsibilities shall remain with the Trustee as delegated by the Retirement Board of Authority.
Trustee Discretion. Except as otherwise spe- cifically provided in this Trust Agreement, the Trustee shall have full discretion in and sole responsibility for investment, management and control of the Trust Assets. Notwithstanding the foregoing, the Trust Assets shall be invested solely in one or more money market mutual funds consisting primarily of U.S.
Trustee Discretion. Except as otherwise specifically broadened or restricted in this Agreement, the use of the term “discretion” exercised by a Trustee shall refer to the exercise of autonomous choice informed only by the Trustee’s reasonable evaluation of all facts and circumstances relevant to the decision to be made; reliance on professional advice or majority vote of beneficiaries in connection with the exercise of “discretion” shall raise a presumption of reasonableness which shall be overcome only by a showing of clear and convincing evidence to the contrary.
