BB&T 2015 Annual Report Download - page 298

direct; provided, however, if the Company fails to contribute liquid Qualified Assets as provided pursuant to Section 5.1.4, the
Trustee may sell or encumber Company Stock to the extent necessary to obtain cash to make distributions to Participants or to
pay administrative expenses. Whenever directed to acquire Company Stock, the Trustee may acquire Company Stock from the
Company or from any other source, and such Company Stock so purchased may be outstanding, newly issued, or treasury
shares.
3.2 Powers of Trustee: Except as otherwise provided in this Trust Agreement, including Section 3.1, the Trustee shall
have the following additional powers and authority with respect to all property constituting a part of the Trust Fund:
3.2.1 To receive all interest, issues, dividends, Income, profits and properties of every nature due the Trust;
3.2.2 To retain the properties now or hereafter received by the Trust, or to dispose of them as and when deemed
advisable by public or private sale or exchange or otherwise, for cash or upon credit, or partly upon cash and partly upon credit,
and upon such terms and conditions as shall be deemed proper;
3.2.3 To participate in any plan of liquidation, reorganization, consolidation, merger, or other financial adjustment of
any corporation or business in which the Trust is or shall be financially interested, and to exchange any property held in the
Trust for property issued under any such plan;
3.2.4 To invest or reinvest principal and income of the Trust Fund, without distinction, in (i) common or preferred
stocks, (ii) Company Stock, (iii) bonds, notes or other securities (including commercial paper and other short-term obligations),
(iv) cash equivalent deposits or accounts (including such deposits or accounts issued by the Trustee), (v) mutual funds, or any
combination of (i) through (v) as shall from time to time be determined by the Trustee, or to hold any part of such principal and
income in cash as may from time to time be determined by the Trustee;
3.2.5 To hold any investment belonging to the trust in bearer form, or to register and hold the same in the name of the
Trustee or in the name of the Trustee’s duly authorized nominee;
3.2.6 To borrow for the benefit of the Trust for such periods of time and upon such terms and conditions as may be
deemed proper any sum or sums of money, and to secure such loans by pledge of any property belonging to the Trust, without
personal liability therefor,
3.2.7 To compromise, arbitrate or otherwise adjust or settle claims in favor of or against the Trust;
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Source: BB&T CORP, 10-K, February 25, 2016 Powered by Morningstar® Document Research℠
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