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and reservations as they shall deem proper, and to execute and deliver any deed, power, •
<br /> assignment, bill of sale, or other instrument in connection with the foregoing. The Trustees
<br /> shall also have full and complete power, subject in all respects to Article IV hereof, and in
<br /> furtherance of the affairs and purposes of the 4M Fund, to give consents and make contracts
<br /> relating to 4M Fund Property or its use.
<br /> 2.05 Taxes. The Trustees shall have full and complete power: (i) to pay all taxes or
<br /> assessments, of whatever kind of nature, validly and lawfully imposed upon or against the 4M
<br /> Fund or the Trustees in connection with the 4M Fund Property or upon or against the 4M Fund
<br /> Property or income or any part thereof; (ii) to settle and compromise disputed tax liabilities; and
<br /> (iii) for the foregoing purposes to make such returns and do all such other acts and things as
<br /> may be deemed by the Trustees to be necessary or desirable.
<br /> 2.06 Rights as Holders of 4M Fund ProRpM. The Trustees shall have full and complete
<br /> power to exercise on behalf of the Participants all of the rights, powers and privileges
<br /> appertaining to the ownership of all or any Permitted Investments or other property forming part
<br /> of the 4M Fund Property to the same extent that any individual might, and, without limiting the
<br /> generality of the foregoing, to vote or give any consent, request or notice or waive any notice
<br /> either in person or by proxy or power of attorney, with or without the power of substitution, to
<br /> one or more Persons, which proxies and powers of attorney may be for meetings or actions
<br /> generally, or for any particular meeting or action, and may include the exercise of discretionary
<br /> powers.
<br /> 2.07 Delegation: Committees. The Trustees shall have full and complete power(consistent •
<br /> with their continuing exclusive authority over the management of the 4M Fund, the conduct of
<br /> its affairs, their duties and obligations as Trustees, and the management and disposition of 4M
<br /> Fund Property), to delegate from time to time to such one or more of their number (who may
<br /> be designated as constituting a committee of the Trustees as provided in Section 9.09 hereof) or
<br /> to officers, employees or agents of the 4M Fund (including, without limitation, the
<br /> Administrator, the Adviser and the Custodian) the doing of such acts and things and the
<br /> execution of such instruments either in the name of the 4M Fund, or the names of the Trustees
<br /> or as their attorney or attorneys, or otherwise as the Trustees may from time to time deem
<br /> expedient and appropriate in the furtherance of the business affairs and purposes of the 4M
<br /> Fund.
<br /> 2.08 Collection. The Trustees shall have full and complete power: (i) to collect, sue for,
<br /> receive and receipt for all sums of money or other property due to the 4M Fund; (ii) to consent
<br /> to extensions of the time for payment, or to the renewal of any securities, investments or
<br /> obligations; (iii) to engage or intervene in, prosecute, defend, compromise, abandon or adjust
<br /> by arbitration or otherwise any actions, suits, proceedings, disputes, claims, demands or things
<br /> relating to the 4M Fund Property; (iv) to foreclose any collateral, security or instrument securing
<br /> any investments, notes, bills, bonds, obligations or contracts by virtue of which any sums of
<br /> money are owed to the 4M Fund; (v) to exercise any power of sale held by them, and to convey
<br /> good title hereunder free of any and all trusts, and in connection with any such foreclosure or
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