Trustee's Administrative Powers Clause Samples

Trustee's Administrative Powers. Subject to any limitations or other provisions stated in Section 4.1 and elsewhere in this Agreement, the Trustees (including any substitute or successor Trustee) shall have the following powers, in addition to those powers conferred under the laws of the State of Delaware, as amended from time to time, and shall only exercise these powers in the furtherance of the Purpose of the Trust:

Trustee's Administrative Powers. Except as otherwise provided herein, and subject to the Trustee's duties hereunder, the Trustee shall have the following powers and rights, in addition to those provided elsewhere in this Agreement or by law: (a) to retain any asset of the Trust Fund; (b) subject to Section 5.4 and Article 3, to sell, transfer, mortgage, pledge, lease or otherwise dispose of, or grant options with respect to, any Trust Fund assets at public or private sale; (c) upon direction from the Committee and with the Trustee's consent, to borrow from any lender (including the Company pursuant to the Loan), to acquire Company Stock as authorized by this Agreement, to enter into lending agreements upon such terms (including reasonable interest and security for the loan and rights to renegotiate and prepay such loan) as may be determined by the Committee; provided, however, that any collateral given by the Trustee for the Loan shall be limited to cash and property contributed by the Company to the Trust and dividends paid on Company Stock held in the Trust and shall not include Company Stock acquired with the proceeds of the Loan; (d) with the consent of the Committee, to settle, submit to arbitration, compromise, contest, prosecute or abandon claims and demands in favor of or against the Trust Fund initiated by a party other than the Trustee; (e) to vote or to give any consent with respect to any securities, including any Company Stock, held by the Trust either in person or by proxy for any purpose, provided that the Trustee shall vote, tender or exchange all shares of Company Stock as provided in Section 5.4; (f) to exercise any of the powers and rights of an individual owner with respect to any asset of the Trust Fund and to perform any and all other acts that in its judgment are necessary or appropriate for the proper administration of the Trust Fund, even though such powers, rights and acts are not specifically enumerated in this Agreement; (g) to employ such accountants, actuaries, investment bankers, appraisers, other advisors and agents as may be reasonably necessary in collecting, managing, administering, investing, valuing, distributing and protecting the Trust Fund or the assets thereof or any borrowings of the Trustee made in accordance with Section 5.3(c); and to pay their reasonable fees and out-of-pocket expenses, which shall be deemed to be expenses of the Trust and for which the Trustee shall be reimbursed in accordance with Section 4.1; (h) to cause any asset of the T...

Trustee's Administrative Powers. The Trustee shall receive, hold, invest and reinvest contributions to the Trust fund and shall make disbursements from the Trust fund pursuant to the terms of this Plan. Subject to the consent of the Trustee, the Company shall have the right to make its contributions hereunder in property to the Trustee. The Trustee shall make payments from the Trust fund only to such persons, in such manner, at such times, and in such amounts as may be specified in written directions from the Company and not otherwise, and the Trustee shall be fully protected in making payments under the direction of the Company. For purposes of accounting and valuation, the records of the Trust shall be maintained on a cash receipts and disbursements basis. The Trustee from time to time shall capitalize unexpended income and add the same to the principal of the Trust. Subject only to such instructions, rules and restrictions as may from time to time be adopted by the Company and communicated to the Trustee, the Trustee shall have the following powers and rights in addition to those invested in the Trustee by law:

Trustee's Administrative Powers. (1) The Trustee may make regulations or other provisions relating to the Scheme or the administration of the Fund which are not already provided for. The regulations or provisions must not conflict with the Rules. (2) In particular, but without limiting (1) above, the Trustee may exercise its powers under that Rule for one or more of the following purposes: (a) to require evidence of the truth of any statement and the notification of any information relevant to the Scheme; and (b) if any person does not comply with any requirement of or made pursuant to the Rules, to make forfeit, reduce or withhold all or any part of the benefit payable to or in respect of that person (subject however to sections 91 to 93 of the PA 1995).