TRUSTEE’S MANAGEMENT OF THE TRUST. The Trustee has the authority and responsibility to manage the Trust assets, but recognizes the authority of any Investment Manager(s) appointed by the Committee to invest and reinvest the assets of the Trust pursuant to Investment Manager Agreement(s) and as provided in Section 5.02 of this Agreement, and agrees to cooperate with such Investment Manager(s) as deemed necessary to accomplish these tasks. Notwithstanding the foregoing, the Trustee shall, without the written authorization of the Committee, invest cash balances, if any, in an investment account on a daily basis to the extent reasonable. Upon the written authorization of the Committee from time to time, the Trustee shall have the following powers, all of which are fiduciary powers to be executed in a fiduciary capacity and in the best interest of the Trust and the beneficiaries thereof, and which are to be exercised by the Trustee in its discretion, acting in such fiduciary capacity:
Appears in 3 contracts
Samples: Credit Trust Agreement, Credit Trust Agreement, Credit Trust Agreement
TRUSTEE’S MANAGEMENT OF THE TRUST. The Trustee has the authority and responsibility to manage the Trust assets, but recognizes the recognizesthe authority of any Investment Manager(s) appointed by the Committee to invest and reinvest the assets of the Trust pursuant to Investment Manager Agreement(s) and as provided in Section 5.02 of this Agreement, and agrees to cooperate with such Investment Manager(s) as deemed necessary to accomplish these tasks. Notwithstanding the foregoing, the Trustee shall, without the written authorization of the Committee, invest cash balances, if any, in an investment account on a daily basis to the extent reasonable. Upon the written authorization of the Committee from time to time, ,the Trustee shall have the following powers, all of which are fiduciary powers to be executed in a fiduciary afiduciary capacity and in the best interest of the Trust and the beneficiaries thereof, and which are to areto be exercised by the Trustee in its discretion, acting in such fiduciary capacity:
Appears in 3 contracts
Samples: Credit Trust Agreement, Credit Trust Agreement, Credit Trust Agreement
