Common use of Actions Permitted without Express Authority Clause in Contracts

Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable Portfolio: (i) Surrender securities in temporary form for securities in definitive form; (ii) Endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and (iii) In general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable Board.

Appears in 65 contracts

Samples: Custodian Services Agreement (Western Asset Middle Market Debt Fund Inc.), Custodian Services Agreement (ClearBridge Energy MLP Total Return Fund Inc.), Custodian Services Agreement (Legg Mason BW Global Income Opportunities Fund Inc.)

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Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable Portfolio: (i) Surrender securities in temporary form for securities in definitive form; (ii) Endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and (iii) In general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable BoardProper Instructions.

Appears in 23 contracts

Samples: Custodian Services Agreement, Custodian Services Agreement (Western Asset Emerging Markets Debt Fund Inc.), Custodian Services Agreement (Western Asset Global High Income Fund Inc.)

Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable Portfolio: (i) Surrender securities in temporary form for securities in definitive form; (ii) Endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and (iii) In general, attend to all non-discretionary details and mandatory actions in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable BoardProper Instructions.

Appears in 21 contracts

Samples: Custodian Services Agreement (Western Asset Global High Income Fund Inc.), Custodian Services Agreement (Western Asset Managed Municipals Fund Inc.), Custodian Services Agreement (Western Asset High Income Fund Ii Inc.)

Actions Permitted without Express Authority. The Custodian may in may, at its discretion, without express authority from the applicable Fund on behalf of each applicable PortfolioFund: (ia) Surrender securities surrender Assets in temporary form for securities Assets in definitive form; (iib) Endorse endorse for collection, in the name of the Portfolio, collection checks, drafts and other negotiable instruments; and (iiic) In general, in general attend to all non-discretionary nondiscretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities Bank Accounts, Sub-custodians, Assets, cash and other property of the Portfolio except as otherwise directed by the applicable BoardFund and its Subsidiaries.

Appears in 12 contracts

Samples: Custody Agreement (RiverNorth/DoubleLine Strategic Opportunity Fund, Inc.), Custody Agreement (Stone Ridge Trust VIII), Custody Agreement (First Trust Alternative Opportunities Fund)

Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable PortfolioFund: (i2) Surrender surrender securities in temporary form for securities in definitive form; (ii3) Endorse endorse for collection, in the name of the PortfolioFund, checks, drafts and other negotiable instruments; and (iii4) In in general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio Fund except as otherwise directed by the applicable BoardBoard of Directors/Trustees of the Fund.

Appears in 12 contracts

Samples: Custodian Contract (Prudential Structured Maturity Fund Inc), Custodian Contract (Prudential Jennison Fund Inc), Custodian Contract (Strategic Partners Series)

Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable Portfolio: (i1) Surrender securities in temporary form for securities in definitive form; (ii2) Endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and (iii3) In general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable Board.

Appears in 9 contracts

Samples: Master Custodian Agreement (Vanguard Institutional Index Funds), Master Custodian Agreement (Vanguard Ohio Tax-Free Funds), Master Custodian Agreement (Vanguard Massachusetts Tax-Exempt Funds)

Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable Portfolio: (i1) Surrender securities in temporary form for securities in definitive form; (ii2) Endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and (iii3) In general, attend to all non-discretionary non‑discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable Board.

Appears in 7 contracts

Samples: Master Custodian Agreement (Vanguard Institutional Index Funds), Master Custodian Agreement (Vanguard California Tax-Free Funds), Master Custodian Agreement (Vanguard New York Tax-Free Funds)

Actions Permitted without Express Authority. The Custodian may in may, at its discretion, without express authority from the applicable Fund on behalf of each applicable PortfolioCompany: (ia) Surrender securities surrender Securities in temporary form for securities Securities in definitive form; (iib) Endorse endorse for collection, in the name of the Portfolio, checkscollection cheques, drafts and other negotiable instruments; and (iiic) In general, in general attend to all non-discretionary nondiscretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable BoardCompany.

Appears in 4 contracts

Samples: Custody Agreement (Prospect Capital Corp), Custody Agreement (Prospect Capital Corp), Custody Agreement (Prospect Capital Corp)

Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable Portfolio: (i) Surrender securities in temporary form for securities in definitive form; (ii) Endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and (iii) In general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable Board.

Appears in 3 contracts

Samples: Custodian Services Agreement (Consulting Group Capital Markets Funds), Custodian Services Agreement (Consulting Group Capital Markets Funds), Custodian Services Agreement (Consulting Group Capital Markets Funds)

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Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable Portfolio: (i1) Surrender make payments to itself or others for minor expenses of handling securities or other similar items relating to its duties under this Contract, provided that all such payments shall be accounted for to the Portfolio; 2) surrender securities in temporary form for securities in definitive form; (ii3) Endorse endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and (iii) In in general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable BoardBoard of Trustees of the Portfolio.

Appears in 1 contract

Samples: Custodian Contract (Floating Rate Portfolio)

Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable Portfolio: (i1) Surrender surrender securities in temporary form for securities in definitive form; (ii2) Endorse endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and (iii3) In in general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable BoardBoard of Directors of the Fund.

Appears in 1 contract

Samples: Custodian Contract (RS Variable Products Trust)

Actions Permitted without Express Authority. The In its discretion the Custodian may in its discretionmay, without express authority from the applicable Fund on behalf of each applicable PortfolioFund: (i1) Surrender surrender securities in temporary form for securities in definitive form; (ii2) Endorse endorse for collection, in the name of the a Portfolio, checks, drafts and other negotiable instruments; instruments on the same day as received: and (iii3) In in general, . attend to all non-discretionary nondiscretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the a Portfolio except as otherwise directed by the applicable BoardBoard of Directors of the Fund.

Appears in 1 contract

Samples: Custodian Agreement (Calvert World Values Fund Inc)

Actions Permitted without Express Authority. The In its discretion the Custodian may in its discretionmay, without express authority from the applicable Fund on behalf of each applicable PortfolioFund: (i1) Surrender surrender securities in temporary form for securities in definitive form; (ii2) Endorse endorse for collection, in the name of the a Portfolio, checks, drafts and other negotiable instruments; instruments on the same day as received: and (iii3) In in general, attend to all non-discretionary nondiscretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the a Portfolio except as otherwise directed by the applicable BoardBoard of Directors of the Fund.

Appears in 1 contract

Samples: Custodian Agreement (Calvert Variable Series Inc)

Actions Permitted without Express Authority. The Custodian may in its discretion, without express authority from the applicable Fund on behalf of each applicable the Portfolio: (i1) Surrender surrender securities in temporary form for securities in definitive form; (ii2) Endorse endorse for collection, in the name of the Portfolio, checks, drafts and other negotiable instruments; and (iii3) In in general, attend to all non-discretionary details in connection with the sale, exchange, substitution, purchase, transfer and other dealings with the securities and property of the Portfolio except as otherwise directed by the applicable BoardBoard of Trustees of the Fund.

Appears in 1 contract

Samples: Custodian Contract (Funds for Institutions Series)

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