AGENCY FUNCTIONS Clause Samples
The "Agency Functions" clause defines the specific roles, responsibilities, and authority granted to an agent acting on behalf of another party, typically a principal. It outlines the scope of actions the agent is permitted to perform, such as negotiating contracts, managing assets, or making decisions within agreed parameters. By clearly delineating these functions, the clause ensures both parties understand the agent's powers and limitations, thereby reducing the risk of misunderstandings or unauthorized actions.
AGENCY FUNCTIONS. (i) The Fund acknowledges that the R.O.
AGENCY FUNCTIONS. (i) The Customer Acknowledges that the R.O.C. Investment Regulations require the Customer to appoint an agent or agents to carry out the agency functions contemplated thereby ("Agency Functions").
(ii) If the Customer elects or is required to appoint the Bank to perform any of such Agency Functions, the Customer shall execute all such powers of attorney and other documents as the Bank may reasonably require to perform such functions and the provisions of the Master Agreement shall apply thereto .
(iii) If the Customer does not so appoint the Bank, the Bank shall not, notwithstanding anything to the contrary contained in the Master Agreement, be required to perform the Agency Functions and the agent(s) so appointed by the Customer shall be Authorized Persons,