Directed Funds definition
Examples of Directed Funds in a sentence
The Trustee shall not have any discretionary responsibility or authority to manage or control any asset held in a Directed Fund upon the resignation or removal of an Asset Manager unless and until it has been notified in writing by the Named Fiduciary that the Asset Manager's authority has terminated and that such Directed Fund's assets are to be integrated with the Discretionary Fund.
All Directed Funds will contribute to the Investment Differential (which shall be defined and set forth in the Co-Branded Site Agreement, and shall be reflect methodology similar to that found in the definition of Investment Differential set forth in the Initial Website Agreement).
Unless specifically prohibited in writing, the Master Trustee, as custodian, may hold the assets of such Directed Funds in the name of a nominee or nominees.
The parties hereto acknowledge that while the Trustee will perform certain duties (such as custodial, reporting, recording, valuation and bookkeeping functions) with respect to Directed Funds, such duties will not involve the exercise of any discretionary authority to manage or control the assets of the Directed Funds and will be the responsibility of officers or other employees of the Trustee who are unfamiliar with and have no responsibility for investment management.
WOME▇.▇▇▇ ▇▇▇ees to invest no fewer than [*] ("Directed Funds") for the development of a co-branded website with Rodale, which website will be based upon content from New Woman Magazine (the "Co-Branded Site"), upon terms to be mutually agreed upon by WOME▇.▇▇▇ ▇▇▇ Rodale in the Co-Branded Site Agreement (as hereinafter defined).
That portion of the fund for which the Trustee shall have such responsibility is hereinafter referred to as the "Discretionary Fund." Any portion of the Master Fund over which an Investment Manager shall have such responsibility is hereinafter referred to as a "Directed Fund." Allocation of assets of the Fund between or among any Discretionary or Directed Funds shall be determined by the Company.
The Administrator also may direct the Trustee to eliminate one or more Directed Funds, and the Trustee shall thereupon dispose of the assets of any such Directed Fund and reinvest the proceeds in accordance with the directions of the Administrator.
The Trustee shall be under no duty to question, and shall not incur any liability on account of following, any direction of the Administrator with respect to the establishment or elimination of any Directed Fund or the allocation or transfer of securities or other property between or among any Directed Funds.
Upon the separation of the assets in accordance with the instructions of the Benefit Committee, the Master Trustee shall thereupon be relieved and released of all investment duties, responsibilities and liabilities normally and statutorily incident to a Master Trustee as to such Directed Funds, and, as to such Directed Funds, the Master Trustee shall act as custodian.
The Trustee shall not have any discretionary responsibility or authority to manage or control any asset held in a Directed Fund upon the resignation or removal of an Investment Manager unless and until it has been notified in writing by the Company that the Investment Manager's authority has terminated and that such Directed Fund's assets are to be integrated with the other investment funds maintained under the Trust Fund.