Appoint Custodians Sample Clauses
The "Appoint Custodians" clause authorizes one or more parties to designate individuals or entities to act as custodians for certain assets, documents, or property relevant to the agreement. In practice, this clause outlines the process for selecting custodians, specifies the scope of their responsibilities, and may set criteria or qualifications required for appointment. By clearly establishing who is responsible for safeguarding important items or information, the clause ensures accountability and helps prevent disputes over custody or control.
Appoint Custodians. Appoint or cause to be appointed domestic Custodians (including Affiliates of the Trustee) as to part or all of the Fund Property, provided the Trustee shall not be responsible or liable for any losses or damages suffered by the Trust arising as a result of the insolvency of any such Custodian, except to the extent the Trustee failed to adhere to the Standard of Care in the selection, appointment or continued retention of such custodianCustodian. The Trustee shall be responsible for holding its Custodians to a commercially reasonable standard of care under their contract of appointment. Where a Custodian has caused a loss to the Trust, the Trustee agrees, upon written request by the Company, to pursue commercially reasonable remedies on behalf of the Trust against any such Custodian. Upon request by the Company, the Trustee shall provide the Company with a list of its current Custodians.
Appoint Custodians. Appoint or cause to be appointed domestic Custodians, including Affiliates of the Trustee, as to part or all of the Fund Property, provided the Trustee shall not be responsible or liable for any losses or damages suffered by the Trust arising as a result of the insolvency of any such Custodian, except to the extent the Trustee failed to adhere to the Standard of Care in the selection, appointment, supervision or continued retention of such Custodian. The Trustee shall be responsible for holding its Custodians to a commercially reasonable standard of care under their contract of appointment. Upon request by the Company, the Trustee shall provide the Company with a list of its current Custodians. Where a Custodian has caused a loss to the Trust, the Trustee agrees, upon written request by the Company that the Trustee will pursue commercially reasonable remedies on behalf of the Trust against any such Custodian. If the Company has requested the Trustee to take such action and the Trustee is not doing so promptly or is not diligently pursuing such action, the Beneficiaries may pursue any remedy against such Custodian in the name of, and on behalf of, the Trust for the benefit of the Trust, but no property from the Fund may be used for the purposes of the Company pursuing such a remedy.
Appoint Custodians. Appoint or cause to be appointed domestic Custodians, including affiliatesAffiliates of the Trustee (provided such affiliateAffiliate is appointed on market terms and conditions), as to part or all of the Fund Property. The Trustee shall be responsible for holding its Custodians to the Standard of Care under their contract of appointment. Upon request by the Company, the Trustee shall provide the Company with a list of its current Custodians;