Trustee's Administrative Powers. The Trustee shall receive, hold, invest and reinvest contributions to the Trust and shall make disbursements from the Trust pursuant to Article VI hereinabove. For purposes of accounting and valuation, the records of the Trust shall be maintained on a cash receipts and disbursements basis, and in accordance with GAAP. 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 Authority and communicated to the Trustee, the Trustee shall have the following powers and rights in addition to those invested in the Trustee by law.
Appears in 2 contracts
Sources: Trust Agreement, Trust Agreement