Appointment of Sub-Custodians. The Custodian may at any time and from time to time appoint, at its own cost and expense, as a Sub-Custodian for the Fund any bank or trust company which meets the requirements of the 1940 Act and the rules and regulations thereunder to act as a custodian, provided that the Fund shall have approved any such bank or trust company and the Custodian gives prompt notice to the Fund of any such appointment. The agreement between the Custodian and any Sub-Custodian shall be substantially in the form of the Sub-Custodian agreement attached hereto as Exhibit 1 (the "Sub-Custodian Agreement") unless otherwise approved by the Fund, provided, however, that the agreement between the Custodian and any Sub-Custodian appointed primarily for the purpose of holding foreign securities of the Fund shall be substantially in the form of the Sub-Custodian Agreement attached hereto as Exhibit 1(A) (the "Foreign Sub-Custodian Agreement"; the "Sub-Custodian Agreement" and the "Foreign Sub-Custodian Agreement" are herein referred to collectively and each individually as the "Sub-Custodian Agreement"). All Sub-Custodians shall be subject to the instructions of the Custodian and not the Fund. The Custodian may, at any time in its discretion, remove any bank or trust company which has been appointed as a Sub-Custodian but shall in such case promptly notify the Fund in writing of any such action. Securities, funds and other property of the Fund delivered pursuant to this Agreement shall be held exclusively by Sub-Custodians appointed pursuant to the provisions of this Section 2. The Sub-Custodians which the Fund has approved to date are set forth in Schedule B hereto. Schedule B shall be amended from time to time as Sub-Custodians are changed, added or deleted. With respect to the securities, funds or other property held by a Sub-Custodian, the Custodian shall be liable to the Fund if and only to the extent that such Sub-Custodian is liable to the Custodian. The Custodian shall nevertheless be liable to the Fund for its own negligence in transmitting any instructions received by it from the Fund and for its own negligence in connection with the delivery of any securities, funds or other property of the Fund to any such Sub-Custodian. In the event that any Sub-Custodian appointed pursuant to the provisions of this Section 2 fails to perform any of its obligations under the terms and conditions of the applicable Sub-Custodian Agreement, the Custodian shall use its best efforts to cause s...
Appointment of Sub-Custodians. JPMS may appoint sub-custodians, including JPM Affiliates, of assets held by or through your Accounts. JPMS will exercise reasonable skill, care and diligence in the selection of any such sub-custodian and will be responsible to you for satisfying itself as to the ongoing suitability of such sub-custodian to provide custodial services, will maintain an appropriate level of supervision over such sub-custodian and will make appropriate inquiries periodically to confirm that the obligations of such sub-custodian continue to be competently discharged. Anything herein to the contrary notwithstanding, JPMS will be liable only for loss or damage (subject to the limitations in Section 14 above) arising out of the insolvency, acts or omissions of any sub-custodian appointed by it that is a JPM Affiliate, but shall not be liable for any such loss or damage arising out of the insolvency, acts or omissions of any sub-custodian appointed by it that is not a JPM Affiliate, provided that JPMS has complied with its undertakings in the preceding sentence.
Appointment of Sub-Custodians. In its discretion, the Custodian may appoint, and at any time remove, any domestic bank or trust company, which has been approved by the Board of Trustees and is qualified to act as a custodian under the 1940 Act, as sub-custodian to hold Securities and cash of the Funds and to carry out such other provisions of this Agreement as it may determine, and may also open and maintain one or more banking accounts with such a bank or trust company (any such accounts to be in the name of the Custodian on behalf of its customers and subject only to its draft or order pursuant to the terms of this Agreement), provided, however, that the Custodian shall have no more or less responsibility or liability to the Trust on account of any actions or omissions of such Sub-custodian so employed than any such sub-custodian has to the Custodian.
Appointment of Sub-Custodians. Notwithstanding the provisions of Clause 11 and subject to receipt of an opinion of legal counsel that such appointment will not give rise to any adverse tax consequences, the Custodian may, having given the Issuer and each relevant Rating Agency at least ten Business Days' prior written notice, appoint any financial institution with an office in any jurisdiction other than the United Kingdom (including any reputable financial institution in the same group as the Custodian) to act as sub-custodian (a "SUB-CUSTODIAN") of the Series 05-4 MTN located in that jurisdiction on substantially the same terms as the Agreement (except that there shall be no equivalent to this Clause 8.
Appointment of Sub-Custodians. In connection with its duties under this Agreement, the Custodian may, at its own expense, enter into sub-custodian agreements with other domestic banks or trust companies for the receipt of certain securities and cash to be held by the Custodian for the accounts of the Funds pursuant to this Agreement; provided that each such bank or trust company complies with all relevant provisions of the 1940 Act, applicable state securities laws and the rules and regulations thereunder. The Custodian shall remain responsible for the performance of all of its duties under this Agreement and shall hold St. Clair harmless from the acts and omissions, under the standards of care provided for herein, of any domestic bank or trust company that it might choose pursuant to this Section. The parties hereto acknowledge that they intend to enter into a Sub- Custodian Agreement with Mxxxxx Sxxxxxx Trust Company or another institution agreeable to them providing for the custody of certain Securities outside the United States in accordance with Rule 17f-5 under the 1940 Act.
Appointment of Sub-Custodians. Notwithstanding any other provisions hereof:
1. All or any of the Assets may be held in State Street’s own custody or in the custody of one or more other banks or trust companies (including, without limitation, affiliates of State Street) acting as Sub-Custodians as may be selected by State Street. State Street will be responsible to the applicable Portfolio for any loss, damage or expense suffered or incurred by such Portfolio resulting from the actions or omissions of any Sub-Custodians selected and appointed by State Street (except Sub-Custodians appointed at the request of PIMCO and as provided in Subsection 2 below) to the same extent that State Street would be responsible to the Trust hereunder if it committed the act or omission itself.
2. Upon request of PIMCO, State Street will contract with other Sub-Custodians reasonably acceptable to State Street for purposes of (a) effecting third-party repurchase transactions with banks, brokers, dealers, or other entities through the use of a common custodian or sub-custodian, or (b) providing depository and clearing agency services with respect to certain variable rate demand note securities, or (c) for other reasonable purposes specified by PIMCO; provided however, that State Street will be responsible to PIMCO for any loss, damage or expense suffered or incurred by the Trust resulting from the actions or omissions of any such Sub-Custodian only to the same extent such Sub-Custodian is responsible to State Street. PIMCO may review State Street’s contracts with such Sub-Custodian.
Appointment of Sub-Custodians. In connection with its duties under this Agreement, the Custodian may enter into sub-custodian agreements with other domestic banks or trust companies for the receipt of certain securities and cash to be held by the Custodian for the accounts of the Funds pursuant to this Agreement; provided that each such bank or trust company complies with all relevant provisions of the 1940 Act, applicable state securities laws and the rules and regulations thereunder. The Custodian shall remain responsible for the performance of all of its duties under this Agreement and shall hold Mutual Fund harmless from the acts and omissions, under the standards of care provided for herein, of any domestic bank or trust company that it might choose pursuant to this Section.
Appointment of Sub-Custodians. The Custodian may at any time or times in its discretion appoint (and may at any time remove) any other bank or trust company which is itself qualified under the 1940 Act and any applicable state law or regulation, to act as a sub-custodian, as its agent to carry out such of the provisions of this Agreement as the Custodian may from time to time direct; provided, however, that (i) the appointment of any agent shall not relieve the Custodian of its responsibilities or liabilities hereunder; and (ii) the Custodian understand and agrees that neither the Trust nor any Fund has any liability for the payment of any sub-custodian’s fee, and that fees owed to sub-custodians shall be the sole responsibility of the Custodian.
Appointment of Sub-Custodians. The Bank, as the Custodian, may from time to time employ one or more Sub-Custodians, provided, however, that the appointment of such agent shall not relieve the Bank of any of its responsibilities under this Agreement. Each Sub-Custodian,relationship shall be established by written instrument, copies of which are to be provided promptly to the Fund, which shall contain, INTER ALIA, the obligation of the Sub Custodian to segregate and hold assets of the Fund only for the benefit of the Fund.
Appointment of Sub-Custodians. In connection with its duties under this Agreement, the Custodian may, at its own expense, enter into sub-custodian agreements with other domestic banks or trust companies for the receipt of certain securities and cash to be held by the Custodian for the accounts of the Funds pursuant to this Agreement; provided that each such bank or trust company complies with all relevant provisions of the 1940 Act, applicable state securities laws and the rules and regulations thereunder. The Custodian shall remain responsible for the performance of all of its duties under this Agreement and shall hold the Trust harmless from the acts and omissions, under the standards of care provided for herein, of any domestic bank or trust company that it might choose pursuant to this Section. The parties hereto acknowledge that they intend to enter into a Sub- Custodian Agreement with Boston Safe Deposit and Trust Company or another institution agreeable to them providing for the custody of certain Securities outside the United States in accordance with Rule 17f-5 under the 1940 Act.
