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On
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Grant; PTE 2003-38 |
D-11167
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G:
68 FR 70315 (12/17/03)
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P:
68 FR 55993 (09/29/03)
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Aetna Life Insurance Company
(Aetna) and UBS Realty Investors LLC (UBS Realty)
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Permits certain transactions that may occur as a result of
the sharing of real estate investments among various accounts maintained by
Aetna, including the Aetna general account and the general accounts of Aetna’s
affiliates which are insurance companies licensed to do business in at least one
state (collectively, the General Account), and the ERISA-Covered Accounts with
respect to which both Aetna and UBS Realty are fiduciaries. Aetna and UBS Realty
(pursuant to the arrangement described therein) are primarily responsible for
the acquisition, management and disposition of the assets allocated to the ERISA-Covered
Accounts. Aetna has hired UBS Realty as a discretionary sub-advisor for the
ERISA-Covered Accounts maintained by Aetna. UBS Realty will perform such
services for the Accounts as of the transition effective date (October 1, 2003).
However, Aetna will retain fiduciary authority over the ERISA-Covered Accounts
after such date.
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Grant; PTE 2003-28 |
D-11171
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G:
68 FR 52790 (09/05/03)
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P: 68 FR 37545 (06/24/03)
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Raleigh Pathology Laboratory
Associates, P.A. Profit Sharing Plan (the Plan)
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Permits the exchange of an unimproved waterfront lot owned by
the Plan and allocated to the individually-directed account in the plan of James
R. Edwards, M.D., for one unimproved tract of land owned personally by Dr.
Edwards and his spouse, Mrs. Delores Edwards.
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Grant; PTE 2003-17 |
D-11119; D-11120
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G: 68 FR 37521 (06/24/03)
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P: 68 FR 3050 (01/22/03)
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DuPont Capital Management
Corporation (DCMC)
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Permits the past extension of credit from the CONSOL Inc.
Employee Retirement Plan and the CONSOL Inc. Investment Plan for Salaried
Employees (collectively, the Plans) to Conoco Inc. (Conoco), a party in interest
with respect to the Plans, as a result of the holding by the Plans of certain
corporate debt securities issued by Conoco, for the period from December 29,
1999 through August 16, 2001.
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Grant; PTE 2003-16 |
D-11114 to D-11118
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G: 68 FR 37520 (06/24/03)
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P: 68 FR 3048 (01/22/03)
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DuPont Capital Management
Corporation (DCMC)
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Permits the past extension of credit from the DuPont Pension
and Retirement Plan, the Pioneer Hi-Bred International, Inc. Retirement Plan,
the Protein Technologies International Retirement Plan and the DuPont Savings
and Investment Plan (collectively, the Plans) to ConAgra Foods, Inc. (ConAgra),
a party in interest with respect to the Plans, as a result of the holding by the
Plans of certain corporate debt securities issued by ConAgra, for the period
from September 5, 2001 until October 17, 2001.
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Grant; PTE 2003-15 |
D-11111 - D-11113
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G: 68 FR 37519 (06/24/03)
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P: 68 FR 3047 (01/22/03)
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DuPont Capital Management
Corporation (DCMC)
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Permits the past extension of credit from the DuPont Pension
and Retirement Plan, the Pioneer Hi-Bred International, Inc. Retirement Plan and
the Protein Technologies International Retirement Plan (collectively, the Plans)
to the Dow Chemical Company (Dow), a party in interest with respect to the
Plans, as a result of the holding by the Plans of certain corporate debt
securities issued by Dow, for the period from October 25, 2000 until July 10,
2001.
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Grant; PTE 2003-12 |
D-11055
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G:
68 FR 34648 (06/10/03)
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P:
67 FR 79649 (12/30/02)
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Deutsche Bank AG (Deutsche Bank)
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Permits, effective December 11, 2002, foreign exchange
transactions (i.e., an income item conversion or a de minimus purchase or sale
transaction) between Deutsche Bank or a foreign affiliate thereof that is a bank
or broker-dealer (collectively, DBAG), and an employee benefit plan with respect
to which DBAG is a trustee, custodian, fiduciary or other party in interest.
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Grant; PTE 2003-37 |
D-11136
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G:
68 FR 70315 (12/17/03)
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P:
68 FR 56006 (09/29/03)
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The National Electrical Benefit
Fund (the Plan)
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Permits, effective October 17, 2002, (1) the provision, by
Bank of America, N.A. (the Bank), a party in interest with respect to the Plan,
of a guaranty of repayment for the benefit of the bondholders in the form of an
Irrevocable Direct Draw Letter of Credit No. 3051512; and (2) the subsequent
reimbursement to the Bank, by Colma Apartment Associates, L.P. (the
Partnership), of amounts advanced by the Bank pursuant to the Letter of Credit
in connection with the investment by the Plan in the Partnership.
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O: 68 FR 11589 (03/11/03) (Hearing
Notice)
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Northwest Airlines Pension Plan for
Salaried Employees, et al. (collectively, the Plans)
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Permits, effective January 15, 2003, (1)
the in kind contribution(s) of the common stock of either
Pinnacle Airlines, Inc. or Pinnacle Airlines Corp. (Pinnacle
Stock) to the Plans by Northwest Airlines, Inc. (Northwest), a
party in interest with respect to such Plans; (2) the holding
of the Pinnacle Stock by the Plans; (3) the sale of the
Pinnacle Stock by the Plans to Northwest; and (4) the
acquisition, holding, and exercise by the Plans of a put
option granted to the Plans by Northwest.
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Grant; PTE 2003-01
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D-10995
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G: 68 FR 6194 (02/06/03)
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P: 67 FR 69560 (11/18/02)
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The Northern Trust Company and Affiliates
(Northern)
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Permits the in kind redemption by the
Northern Trust Company Thrift-Incentive Plan of shares of
proprietary mutual funds currently offered by, or offered
in the future by, investment companies for which Northern
or its affiliate provides investment advisory and/or other
services.
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Grant; PTE 2003-11 |
D-10840
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G:
68 FR 34646 (06/10/03)
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P: 68 FR 10035 (03/03/03)
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Deutsche Bank AG (DB)
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Permits (1) retroactive exemptive relief from June 4, 1999
until the date of granting of the exemption for the investment of the assets of
a Bank Plan or a Client Plan (either, a Plan) in deposits of DB, its current or
future branches, and/or its current or future subsidiaries; and (2) prospective
relief for the same transaction, but with additional conditions applying.
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Grant; PTE 2003-35 |
D-11194
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G: 68 FR 64658 (11/14/03)
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P: 68 FR 52796 (09/05/03)
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Newspaper Agency Corporation
Pension Trust (the Plan)
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Permits (1) the leasing of certain improved real property by
the Plan to the Newspaper Agency Corporation (the Employer), a party in interest
with respect to the Plan, pursuant to the terms of a lease (the New Lease),
effective August 1, 2003; and (2) the guarantee by MediaNews Group, Inc. and
Deseret News Publishing Corporation (the owners of the Employer) of the
obligations of the Employer under the terms of the New Lease.
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Grant; PTE 2003-25 |
L-11155 and L-11156
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G: 68 FR 48642 (08/14/03)
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P: 68 FR 28026 (05/22/03)
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IBEW Local No. 1 Health and Welfare
Fund (the Welfare Fund); and Local No. 1,
Apprenticeship and Training Fund (the Training Fund)
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Permits the lease of certain classroom space and supplemental
facilities by the Welfare Fund to the Training Fund, a party in interest with
respect to the Welfare Fund.
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Grant; PTE 2003-10 |
D-11062
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G: 68 FR 28031 (05/22/03)
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P: 68 FR 13954 (03/21/03)
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The JP Morgan Chase Bank
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Permits, effective, December 31, 2000, (a) the continuation
of a lease, by the Commingled Pension Trust Fund of JPMorgan Chase Bank (the
Fund) with respect to which JPMorgan Chase Bank (JPMCB) is the trustee, of
office space in a certain commercial office building to Chase Global Funds
Service Company, a party in interest with respect to employee benefit plans
whose assets are invested in the Fund and an affiliate of JPMCB; and (b) the
continued and future provision by JPMCB or its affiliates of letters of credit
to guarantee the obligations of unrelated third-party tenants to pay rent to the
Fund under the commercial real estate leases.
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Grant; PTE 2003-06 |
D-11059
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G: 68 FR 18710 (04/16/03)
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P: 68 FR 6205 (02/06/03)
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Individual Exemption to Replace Prohibited Transaction
Exemptions (PTEs) 81-56, 85-19 and 89-5 (the Prior Exemptions) Involving the
Truman Arnold Companies Retirement Plan and Trust (the Plan)
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Each of the Prior Exemptions permitted the Truman Arnold Companies (the
Employer) to contribute and/or lease from the Plan certain improved real
property under the provisions of three distinct written leases. The exemption
incorporates many of the facts and representations contained in the Prior
Exemptions and updates information to the extent that there have been changes.
Because it appears that PTE 81-56 expired on September 30, 1999, and the parties
have not been covered by an administrative exemption since that time, the
exemption provides retroactive exemptive relief from October 1, 1999 until
September 30, 2002. In addition, to resolve uncertainty regarding the expiration
dates of the leases described in PTEs 81-56 and 85-19, the exemption merges the
leases, along with the lease described in PTE 89-5, under a new master lease and
provides retroactive exemptive relief effective October 1, 2002 with respect to
such past and continued lease arrangements. Further, the exemption permits the
replacement of AmSouth Bank, the Plan’s former independent fiduciary, with
Regions Bank, the Plan’s current trustee.
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Grant; PTE 2003-29 |
D-11172
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G:
68 FR 52790 (09/05/03)
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P: 68 FR 37546 (06/24/03)
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Valley OB-GYN Clinic, P.C.
Employees Pension Plan (the Plan)
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Permits the loan of $550,000 by the Plan to Valley OB-GYN
Realty Company, a party in interest with respect to the Plan.
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Grant; PTE 2003-21 |
D-11142
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G: 68 FR 40693 (07/08/03)
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P: 68 FR 23778 (05/05/03)
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Arizona Machinery Group, Inc. (AMG)
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Permits the (1) the acquisition by the Arizona Machinery
Group Employees’ Profit Sharing Plan (the Plan) of customer notes acquired
from the Plan sponsor, AMG, or from any successor employer which sponsors the
Plan at the time of the acquisition of such customer note, or from any other
employer which at the time of the acquisition of such customer note has adopted
the Plan (including employers which adopt the Plan subsequent to the proposed
exemption being granted) and which generates customer notes, or from any
affiliate of any such employer; (2) the Plan’s holding of the customer notes,
if the notes acquired and held by the Plan are guaranteed by the respective
employer or affiliate, which accepted and held the customer notes prior to their
acquisition by the Plan, as well as AMG (when the customer note was accepted and
held by an employer other than AMG; and (3) the repurchase of customer notes
from the Plan by the employer or affiliate which initially transferred those
notes to the Plan.
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Grant; PTE 2003-05 |
D-11061
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G: 68 FR 18704 (04/16/03)
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P: 68 FR 3040 (01/22/03)
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John Hancock Life Insurance Company (Hancock)
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Permits (1) the purchase of a timber asset from International Paper Company
(International Paper) or any affiliate, by a certain insurance company separate
account (ForesTree IP), maintained and managed by Hancock for the investment of
the assets of one or more employee pension benefit plans sponsored by
International Paper; and (2) the sale of a timber product to International Paper by ForesTree IP.
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Grant; PTE 2003-23 |
D-11169
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G: 68 FR 40698 (07/08/03)
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P: 68 FR 18698 (04/16/03)
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Goldman, Sachs & Co. and Its
Affiliates (Goldman)
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Permits any purchase or sale of securities, in the context of
a portfolio liquidation or restructuring, between (i) Goldman and its current
and future affiliates, including foreign broker-dealers or banks (collectively,
the Applicant) and (ii) employee benefit plans with respect to which the
Applicant is a party in interest.
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Grant; PTE 2003-22 |
D-11164
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G: 68 FR 40694 (07/08/03)
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P: 68 FR 18687 (04/16/03)
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Lehman Brothers Holding, Inc. (LBHI)
and Lehman Brothers Inc. (LBI), et al.
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Permits, effective April 16, 2003, the purchase of any
securities by LBHI and LBI and their affiliates (collectively, the Asset
Manager), on behalf of employee benefit plans (the Client Plans), including
Client Plans investing in a pooled fund, for which the Asset Manager acts as a
fiduciary, from any person other than the Asset Manager or an affiliate thereof,
during the existence of an underwriting or selling syndicate with respect to
such securities, where LBI and its affiliates are a manager or member of such
syndicate.
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Grant; PTE 2003-20 |
D-10988
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G: 68 FR 40689 (07/08/03)
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P: 68 FR 6187 (02/06/03)
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Deutsche Bank Securities Inc. (DBSI)
and Its Affiliates
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Permits any purchase or sale of securities, in the context of
a portfolio liquidation or restructuring, between (i) DBSI and its current or
future affiliates, including certain foreign broker-dealers or banks
(collectively, the Applicant) and (ii) employee benefit plans with respect to
which the Applicant is a party in interest.
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Grant; PTE 2003-36 |
D-11086 – D-11090
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G:
68 FR 70311 (12/17/03)
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P: 68 FR 13960 (03/21/03)
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Deutsche Bank AG (Deutsche Bank)
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Permits, effective April 8, 2002, the following relief: (1)
Basic Transaction -- any transaction between a party in interest with respect to
the plan, provided that the Deutsche Bank In-house Manager (DBIM) has
discretionary authority or control with respect to the plan assets involved in
the transaction; (2) Leasing of Office Space -- the leasing of office or
commercial space owned by a plan managed by a DBIM to an employer any of whose
employees are covered by the plan or an affiliate of such an employer, and the
leasing of residential space by a plan to a party in interest, provided various
conditions are satisfied; and (3) Places of Public Accommodation -- the
furnishing of services and facilities (and good incidental thereto) by a place
of public accommodation owned by a plan and managed by a DBIM to a party in
interest with respect to the plan, if the services and facilities (and
incidental goods) are furnished on a comparable basis to the general public. The
exemption is similar to PTE 84-14 (49 FR 9494, March 13, 1984), involving
qualified professional asset managers and PTE 96-23 (61 FR 15975, April 10,
1996), involving in house asset managers.
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Grant; PTE 2003-02 |
D-10999
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G: 68 FR 6196 (02/06/03)
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P: 67 FR 62822 (10/08/02)
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Brightpoint, Inc. (Brightpoint)
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Permits, as of June 5, 2001: (1) the
payment by Brightpoint of $108,738.85 to the Millennium
Trust Company on behalf of the Brightpoint, Inc. 401(k)
Plan (the Plan) for the purpose of satisfying a
court-ordered assessment against the assets of the Plan
that arose in connection with the $68,100,000 deficiency
(the Deficiency) incurred by the Independent Trust
Corporation; and (2) the transfer by the Plan to
Brightpoint of certain assets recovered by
PriceWaterhouseCoopers LLP in connection with the
Deficiency.
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Grant; PTE 2003-30 |
D-11101 |
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G: 68 FR 59199 (10/14/03)
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P: 68 FR 37539 (06/24/03)
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Fifth Third Bank
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Permits, effective April 2, 2001, the receipt of fees by
Fifth Third, a Michigan banking corporation and its affiliates (collectively,
Fifth Third), from the Kent Funds prior to October 26, 2001 or from the Fifth
Third Fund on or after October 26, 2001 (collectively, the Funds), open-end
investment companies registered under the Investment Company Act of 1940, for
acting as an investment adviser for the Funds, as well as for acting as an
administrator, custodian, transfer agent, and provider of other services to the
Funds (including brokerage services in the future) which are not advisory
services (collectively referred to as “Secondary Services”), in connection
with the purchase and sale of shares of the Funds by certain employee benefit
plans and individual retirement accounts for First Third serves as fiduciary
with investment discretion.
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