Investment of Trust Fund. 5.1 Prior to a Change of Control, the Trustee shall invest and reinvest the assets of the Trust as the Company shall prescribe in writing from time to time.
Investment of Trust Fund. (a) The Trustee shall invest and reinvest the principal of the Trust including any income accumulated and added to principal, as directed by the Organization and Compensation Committee of the Board of Directors of Cleveland-Cliffs (which direction may not include investment in common shares of Cleveland-Cliffs). In the absence of any such direction, the Trustee shall have sole power to invest the assets of the Trust (excluding investment in common shares of Cleveland-Cliffs). The Trustee shall act at all times, however, with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent corporate trustee, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of a like character and with like aims. The investment objective of the Trustee shall be to preserve the principal of the Trust while obtaining a reasonable total rate of return, measurement of which shall include market appreciation or depreciation plus receipt of interest and dividends. The Trustee shall be mindful, in the course of its management of the Trust, of the liquidity demands on the Trust and any actuarial assumptions that may be communicated to it from time to time in accordance with the provisions of this Trust Agreement No. 1.
Investment of Trust Fund. The following provisions shall apply with respect to the investment of the Trust Funds:
Investment of Trust Fund. The Trustees shall hold the Fund and its assets and may, in their sole discretion, invest it or parts of it in securities, real estate, or other investments which are permitted under the laws of the State of Wisconsin and pursuant to the Canon Law of the Roman Catholic Church. All investments shall be made in accordance with the investment guidelines promulgated by the Xxxxxx for the Diocese of Madison or, in the absence of diocesan guidelines, in accordance with guidelines adopted by the Advisory Board. The Fund may be divided into sub-funds or sub-accounts.
Investment of Trust Fund. The Trustee shall invest the principal of the Trust including any income accumulated and added to principal in (a) interest-bearing deposit accounts or certificates of deposit (including any such accounts or certificates issued or offered by the Trustee or any successor or affiliated corporation but excluding obligations of the Company), (b) direct obligations of the United States of America, or obligations the payment of which is guaranteed, as to both principal and interest, by the government or an agency of the government of the United States of America, or (c) one or more mutual funds or commingled funds, whether or not maintained by the Trustee, substantially all of the assets of which is invested in obligations the income from which is not subject to taxation; provided, however, that no such investment may mature more than 90 days after the date of purchase. Nothing in this Trust Agreement No. 2 shall preclude the commingling of Trust assets for investment. The Trustee shall not be required to invest nominal amounts.
Investment of Trust Fund. 5.1 Except as provided in Section 5.2, the Company shall have sole investment discretion and responsibility for the assets of the Trust, and the Trustee shall invest and reinvest, and act with respect to, the assets of the Trust only as directed by the Company in writing from time to time and shall have no investment review responsibility therefor, and the Trustee shall not consider the propriety of holding or selling, or vote such assets other than as directed by Company; provided, however, that if the Trustee shall not have received contrary instructions from the Company, the Trustee shall invest for short term purposes any cash in its custody in bonds, notes and other evidences of indebtedness having a maturity date not beyond five years from the date of purchase, United States Treasury bills, commercial paper, bankers' acceptances and certificates of deposit, and undivided interests or participations therein, and participations in regulated investment companies for which the Trustee or its affiliate is the adviser.
Investment of Trust Fund. 10.1.1 The Trustee shall hold, invest and reinvest the Trust Fund in Qualified Investments in accordance with Applicable Laws and the Statement of Investment Policies and Procedures and, for greater certainty, shall have and be vested with the powers regarding investment of the Trust Fund described in Article V.
Investment of Trust Fund. The trustees will be at the liberty to invest the full trust fund or potion there to in the manner provided hereby but shall be chargeable only for such money, and funds that shall be actual come into their hands and a trustee shall not be answerable or accountable for neglect, default acts and omission or commission of the trustees, nor of nay banks or other person with who the trust properties or any securities may have been deposit or kept. The Trustees may invest the trust fund either in the purchase of immovable property/shares/ mutual funds/ debentures/ fixed deposits with banks / other instruments on such terms and conditions as board of trustees or any other authorized by the board of trustees may deem fit & proper from time to time in compliance with the Income Tax, 1961, or any other act applicable to the trust from time to time. The trustees shall be competent in their absolute discretion to transfer and assign the Trust fund to any recognized trust, society or institution having charitable objects for the purpose of administering the trust fund. It is expressly declared that no part of the trust fund or its income shall be applied for any purpose which is not public charitable purpose in law and if any provision hereof can be construed to authorize the trustees to utilize the trust assets or its income for any charitable purpose, all the powers and provisions shall be consumed as being construed as being subject to such restriction and limitation.
Investment of Trust Fund. Pending use of any Trust held hereunder for the purpose of this Trust, to invest and reinvest all or any part of such Trust, including any undistributed income therefrom; provided. however, that no such investment or reinvestment may be made by the Trustee:
Investment of Trust Fund. The Trustee shall invest the principal of the Trust including any income accumulated and added to principal in (a) interest-bearing deposit accounts or certificates of deposit (including any such accounts or certificates issued or offered by the Trustee or any successor or affiliated corporation but excluding obligations of the Company), (b) direct obligations of the United States of America, or obligations the payment of which is guaranteed, as to both principal and interest, by the government or an agency of the government of the United States of America, or (c) one or more mutual funds or commingled funds, whether or not maintained by the Trustee, substantially all of the assets of which is invested in obligations the income from which is not subject to taxation; provided, however, that no such investment may mature more than 90 days after the date of purchase. Nothing in this Trust Agreement No. 2 shall preclude the commingling of Trust assets for investment.
