Common use of Investment Directions Clause in Contracts

Investment Directions. Except as provided in this Section, the Committee shall provide the Trustee with all investment instructions. The Trustee shall neither affect nor change investments of the Trust Fund, except as directed in writing by the Committee, and shall have no right, duty or responsibility to recommend investments or investment changes; provided, that the Trustee may (i) deposit cash on hand from time to time in any bank savings account, certificate of deposit, or other instrument creating a deposit liability for a bank, including the Trustee's own banking department, if the Trustee is a bank, without such prior direction, (ii) invest in mutual funds, government securities, bonds with specific ratings, or stock of "S&P 500" companies, all within broad investment guidelines established by the Committee from time to time, or (iii) invest in universal variable life insurance.

Investment Directions. Except as provided in this SectionSection and Section 3.2below, the Committee shall provide the Trustee with all investment instructionsinstructions in writing. The Trustee shall neither affect nor change investments of the Trust Fund, except as directed in writing by the Committee, and shall have no right, duty or responsibility to recommend investments or investment changes; provided, that the Trustee may (i) deposit cash on hand from time to time in any bank savings account, certificate of deposit, or other instrument creating a deposit liability for a bank, including the Trustee's ’s own banking department, if the Trustee is a bank, without such prior direction, or (ii) invest in mutual funds, government securities, bonds with specific ratings, equities, or stock mutual funds composed of "S&P 500" companiessuch investments, all within broad investment guidelines established by the Committee from time to time, or (iii) invest in universal variable life insurance.

Investment Directions. Except as provided in this SectionSection and Section 3.2 below, the Committee shall provide the Trustee with all investment instructions. The Trustee shall neither affect nor change investments of the Trust Fund, except as directed in writing by the Committee, and shall have no right, duty or responsibility to recommend investments or investment changes; provided, that the Trustee may (i) deposit cash on hand from time to time in any bank savings account, certificate of deposit, or other instrument creating a deposit liability for a bank, including the Trustee's own banking department, if the Trustee is a bank, without such prior direction, or (ii) invest in mutual funds, government securities, bonds with specific ratings, equities, or stock mutual funds composed of "S&P 500" companiessuch investments, all within broad investment guidelines established by the Committee from time to time, or (iii) invest in universal variable life insurance.

Investment Directions. Except as provided in this Section, the Committee shall provide the Trustee with all investment instructions. The Trustee shall neither affect nor change investments of the Trust Fund, except as directed in writing by the Committee, and shall have no right, duty or responsibility to recommend investments or investment changes; provided, that the Trustee may (i) deposit cash on hand from time to time in any bank savings account, certificate of deposit, or other instrument creating a deposit liability for a bank, including the Trustee's ’s own banking department, if the Trustee is a bank, without such prior direction, or (ii) invest in mutual funds, government securities, bonds with specific ratings, or stock of "“S&P 500" ” companies, all within broad investment guidelines established by the Committee from time to time, or (iii) invest in universal variable life insurance.

Investment Directions. Except as provided in this Section, the Committee shall provide the Trustee with all investment instructions. The Trustee shall neither affect nor change investments of the Trust Fund, except as directed in writing by the Committee, and shall have no right, duty or responsibility to recommend investments or investment changes; provided, that the Trustee may (i) deposit cash on hand from time to time in any bank savings account, certificate of deposit, or other instrument creating a deposit liability for a bank, including the Trustee's ’s own banking department, if the Trustee is a bank, without such prior direction, (ii) invest in mutual funds, government securities, bonds with specific ratings, or stock of "“S&P 500" ” companies, all within broad investment guidelines established by the Committee from time to time, or (iii) invest in universal variable life insurance.