Common use of Acting on Instructions; Method of Instruction and Unclear Instructions Clause in Contracts

Acting on Instructions; Method of Instruction and Unclear Instructions. (a) The Fund authorizes ABIS to accept, rely upon and/or act upon any Instructions reasonably believed to be genuine. The Fund will indemnify ABIS against, and hold each of them harmless from, any Liabilities that may be imposed on, incurred by, or asserted against ABIS as a result of any action or omission taken in accordance with any Instruction unless the Liabilities result from an act of negligence, fraud or willful misconduct on the part of ABIS with respect to the manner in which such Instructions are followed. (b) ABIS shall promptly notify an Authorized Person or Shareholder, as applicable, if ABIS determines that an Instruction does not contain all information reasonably necessary for ABIS to carry out the Instruction. ABIS may decline to act upon an Instruction if it does not receive clarification or confirmation reasonably satisfactory to it. ABIS will not be liable for any loss arising from any reasonable delay in carrying out any such Instruction while it seeks such missing information, clarification or confirmation or in declining to act upon any Instruction for which it does not receive clarification reasonably satisfactory to it. In the event ABIS does not act upon such Instructions, ABIS will notify the Fund of its decision to do so as soon as reasonably practicable

Acting on Instructions; Method of Instruction and Unclear Instructions. (a) The Fund Each of the Trust and the Sponsor hereby authorizes ABIS the Custodian to accept, rely upon and/or and act upon any Instructions reasonably believed to be genuinereceived by it without inquiry. The Fund will Trust shall indemnify ABIS the Custodian Indemnitees against, and hold each of them harmless from, any Liabilities Damages that may be imposed on, incurred by, or asserted against ABIS the Custodian Indemnitees as a result of any action taken or omission omitted to be taken in accordance with any Instruction unless the Liabilities Damages result from an act of negligence, fraud or willful misconduct on the part of ABIS the Custodian Indemnitees with respect to the manner in which such Instructions are followed. (b) ABIS To the extent possible, instructions to the Custodian shall be sent via electronic instruction or trade information system acceptable to the Custodian or via facsimile transmission. Where reasonably practicable, the Customer will use automated and electronic methods of sending Instructions. (c) The Custodian shall promptly notify an Authorized Person or Shareholder, as applicable, if ABIS determines that an Instruction does not contain all information reasonably necessary for ABIS the Custodian to carry out the Instruction. ABIS The Custodian may decline to act upon an Instruction if it does not receive clarification or confirmation reasonably satisfactory to it. ABIS The Custodian will not be liable for any loss arising from any reasonable delay in carrying out any such Instruction while it seeks such missing information, clarification or confirmation or in declining to act upon any Instruction for which it does not receive clarification reasonably satisfactory to it. In the event ABIS does not act upon such Instructions, ABIS will notify the Fund of its decision to do so as soon as reasonably practicable.

Acting on Instructions; Method of Instruction and Unclear Instructions. (a) The Fund authorizes ABIS to accept, rely upon and/or act upon any Instructions reasonably believed to be genuine. The Fund will indemnify ABIS against, and hold each of them it harmless from, any Liabilities that may be imposed on, incurred by, or asserted against ABIS as a result of any action or omission taken in accordance with any Instruction unless the Liabilities result from an act of negligence, fraud or willful misconduct on the part of ABIS with respect to the manner in which such Instructions are followed. (b) ABIS shall promptly notify an Authorized Person or Shareholder, as applicable, if ABIS determines that an Instruction does not contain all information reasonably necessary for ABIS to carry out the Instruction. ABIS may decline to act upon an Instruction if it does not receive clarification or confirmation reasonably satisfactory to it. ABIS will not be liable for any loss arising from any reasonable delay in carrying out any such Instruction while it seeks such missing information, clarification or confirmation or in declining to act upon any Instruction for which it does not receive clarification reasonably satisfactory to it. In the event ABIS does not act upon such Instructions, ABIS will notify the Fund of its decision to do so as soon as reasonably practicable.