Appointment of Foreign Sub-custodian. The Company hereby authorizes and instructs the Custodian in its sole discretion to employ one or more Foreign Sub-custodians to act as Eligible Securities Depositories or as sub-custodian to hold the Securities and other assets of the Company maintained outside the United States, subject to the Company’s approval in accordance with this Section. If the Custodian wishes to appoint a Foreign Sub-custodian to hold property of the Company subject to this Agreement, it will so notify the Company and provide it with information reasonably necessary to determine any such new Foreign Sub-custodian’s eligibility under Rule 17f-5 under the 1940 Act, including a copy of the proposed agreement with such Foreign Sub-custodian. The Company shall at the meeting of its board of directors next following receipt of such notice and information give a written approval or disapproval of the proposed action.
Appointment of Foreign Sub-custodian. The Company hereby authorizes and instructs the Custodian in its sole discretion to employ one or more Foreign Sub-custodians to act as Eligible Securities Depositories or as Foreign Sub-custodian to hold the Securities and other assets of the Company maintained outside the United States. If, after the initial approval of a Foreign Sub-custodian by the board of directors of the Company in connection with this Agreement, the Custodian wishes to appoint other Foreign Sub-custodians to hold property of the Company subject to this Agreement, it will so notify the Company and provide it with information reasonably necessary to determine any such new Foreign Sub-custodian’s eligibility under Rule 17f-5 under the 1940 Act, including a copy of the proposed agreement with such Foreign Sub-custodian. The Company shall at the meeting of its board of directors next following receipt of such notice and information approve or disapprove of the proposed action.
Appointment of Foreign Sub-custodian. The Custodian is authorized and instructed, either directly or indirectly (through one or more sub-custodian U.S. banks), to employ as sub-custodians for the Fund's securities and other assets maintained outside of the United States the foreign institutions, foreign securities depositories and foreign clearing agencies, if any, designated on Schedule A hereto ("foreign sub-custodians"); provided, however, that, notwithstanding the contents of Schedule A hereto, the Custodian (including any of its agents and sub-custodians) is authorized to directly or indirectly employ or retain any sub-custodian, depository or clearing agency only if said employed or retained institution qualifies as either (a) an "eligible foreign custodian," as defined in Rule 17f-5 under the Investment Company Act of 1940, or (b) a "bank," as defined in Section 2(a)(5) of the Investment Company Act of 1940, that in turn qualifies as an eligible domestic custodian under Section 17(f) of the Investment Company Act of 1940; and provided further that the Custodian shall be liable to the Fund for any loss of any Fund assets custodied with any institution directly or indirectly employed or retained by the Custodian (or any of its agents or sub-custodians) that does not meet the qualifications of either clause (a) or (b) of the preceding proviso. Upon receipt of Proper Instructions, together with a certified resolution of the Fund's Board of Directors, the Custodian and the Fund may agree to amend Schedule A hereto from time to time to designate additional or alternative foreign banking institutions, foreign securities depositories and foreign clearing agencies to act as sub-custodian. Each foreign banking institution shall be authorized to deposit securities in foreign securities depositories and foreign clearing agencies authorized pursuant to Rule 17f-5 under the Investment Company Act of 1940. Upon receipt of Proper Instructions from the Fund the Custodian shall promptly cease the employment of any one or more of such sub-custodians for maintaining custody of the assets of the application Fund(s).
Appointment of Foreign Sub-custodian. The Company hereby authorizes and instructs the Custodian in its sole discretion to employ one or more Foreign Sub-custodians to act as Eligible Securities Depositories or as sub-custodian to hold the Securities and other assets of the Company maintained outside the United States, subject to the Company’s approval in accordance with this Section. If the Custodian wishes to appoint a Foreign Sub-custodian to hold property of the Company subject to this Agreement, it will so notify the Company and provide it with information reasonably necessary to determine any such new Foreign Sub-custodian’s eligibility under Rule 17f-5 under the 1940 Act, including a copy of the proposed agreement with such Foreign Sub-custodian.
Appointment of Foreign Sub-custodian. The Custodian is authorized and instructed to employ as sub-custodians for the Fund's securities and other assets maintained outside of the United States the foreign banking institutions and foreign securities depositories designated on Schedule A hereto ("foreign sub-custodians"). Upon receipt of Proper Instructions, together with a certified resolution of the Fund's Board of Directors, the Custodian and the Fund may agree to amend Schedule A hereto from time to time to designate additional foreign banking institutions and foreign securities depositories to act as sub-custodians. Upon receipt of Proper Instructions from the Fund the Custodian shall cease the employment of anyone or more of such sub-custodians for maintaining custody of the Fund's assets.
Appointment of Foreign Sub-custodian. The Custodian is authorized and instructed, either directly or indirectly (through one or more sub-custodian U.S. banks, if approved by the Board of Trustees as provided in Section 1 above), to employ as sub-custodians for any Fund’s securities and other assets maintained outside of the United States the foreign institutions, foreign securities depositories and foreign clearing agencies selected pursuant to the provisions of the Foreign Custody Manager Agreement between the Trust and the Custodian.
Appointment of Foreign Sub-custodian. In each foreign country in which Securities and other assets of the Fund are to be held, the Custodian shall employ, as sub-custodian for such Securities and assets, the Foreign Sub-custodian whose name is set forth opposite the name of such foreign country in Exhibit B hereto, provided that the Custodian shall not commence such employment or enter into a sub-custody agreement providing therefor until receipt by it of Written Instructions to do so.
Appointment of Foreign Sub-custodian. The Board hereby designates the Custodian as the Company’s “Foreign Custody Manager” as defined in Rule 17f-5 under the 1940 Act and the Custodian hereby accepts such designation and the delegation of such authority. The Company hereby authorizes and instructs the Custodian in its sole discretion to employ one or more Foreign Sub-custodians to act as Eligible Securities Depositories or as sub-custodian to hold the Securities and other assets of the Company maintained outside the United States, subject to the Company’s approval in accordance with this Section. If the Custodian wishes to appoint a Foreign Sub-custodian to hold property of the Company subject to this Agreement, it will so notify the Company and provide it with information reasonably necessary to determine any such new Foreign Sub-custodian’s eligibility under Rule 17f-5 under the 1940 Act, including a copy of the proposed agreement with such Foreign Sub-custodian.
Appointment of Foreign Sub-custodian the Fund hereby authorizes and instructs the Custodian to employ as sub- custodians for the Fund's securities and other assets maintained outside the United States the foreign banking institutions and foreign securities depositories designated on Schedule A hereto ("foreign sub-custodians"). Upon receipt of "Proper Instructions", as defined in Section 5 of this Contract, together with a certified resolution of the Fund's Board of Directors, the Custodian and the Fund may agree to amend Schedule A hereto from time to time to designate additional foreign banking institutions and foreign securities depositories to act as sub-custodian. Upon receipt of Proper Instructions, the Fund may instruct the Custodian to cease the employment of any one or more such sub-custodians for maintaining custody of the Fund's assets.
Appointment of Foreign Sub-custodian. The Company hereby authorizes and instructs the Account Bank in its sole discretion to employ one or more Foreign Sub-custodians to act as Eligible Securities Depositories or as Foreign Sub-custodian to hold the Securities and other assets of the Company maintained outside the United States (other than to the extent resulting from the negligence, misfeasance, fraud or willful misconduct of the Custodian itself, or from the failure of the Custodian to enforce effectively such rights as it may have against the U.S. Securities System). If, after the initial approval of a Foreign Sub-custodian by the board of directors of the Company in connection with this Agreement, the Account Bank wishes to appoint other Foreign Sub-custodians to hold property of the Company subject to this Agreement, it will so notify the Company and provide it with information reasonably necessary to determine any such new Foreign Sub-custodian’s eligibility under Rule 17f-5 under the 1940 Act, including a copy of the proposed agreement with such Foreign Sub-custodian.
