Common use of Appointment of Subcustodians Clause in Contracts

Appointment of Subcustodians. The Custodian may, upon receipt of Proper Instructions, appoint another bank or trust company, which is itself qualified under the Investment Company Act to act as a custodian (a "Subcustodian"), as the agent of the Custodian to carry out such of the duties of the Custodian hereunder as a Custodian may from time to time direct; provided, however, that the appointment of any Subcustodian shall not relieve the Custodian of its responsibilities or liabilities hereunder.

Appears in 4 contracts

Samples: Custody Agreement (Franklin Templeton Global Trust), Custody Agreement (Franklin International Trust), Custody Agreement (Franklin Strategic Mortgage Portfolio)

AutoNDA by SimpleDocs

Appointment of Subcustodians. The Custodian may, upon receipt of Proper Instructions, appoint another bank or trust company, which is itself qualified under the Investment Company Act to act as a custodian (a "Subcustodian"), as the agent of the Custodian to carry out such of the duties of the Custodian hereunder as a Custodian may from time to time direct; provided, however, that the appointment of any Subcustodian shall not relieve the Custodian of its responsibilities or liabilities hereunder.

Appears in 2 contracts

Samples: Custody Agreement (Franklin Valuemark Funds), Custody Agreement (Templeton Variable Products Series Fund)

Appointment of Subcustodians. The Custodian may, upon receipt of Proper Instructions, appoint another bank or trust company, which is itself qualified under the Investment Company Act to act as a custodian (a "Subcustodian"), as the agent of the Custodian to carry out such of the duties of the Custodian hereunder as a the Custodian may from time to time direct; provided, however, that the appointment of any Subcustodian shall not relieve the Custodian of its responsibilities or liabilities hereunder.

Appears in 2 contracts

Samples: Custody Agreement (Franklin Balance Sheet Investment Fund), Custody Agreement (Franklin Principal Maturity Trust)

Appointment of Subcustodians. The Custodian may, upon receipt of Proper Authorized Instructions, appoint another bank or trust company, which is itself qualified under the Investment Company Act to act as a custodian (a "Subcustodian"), as the agent of the Custodian to carry out such of the duties of the Custodian hereunder as a Custodian the custodian may from time to time direct; provided, however, that the appointment of any Subcustodian shall not relieve the Custodian of its responsibilities or liabilities hereunder.

Appears in 1 contract

Samples: Custody Agreement (Money Market Portfolios)

Appointment of Subcustodians. The Custodian maymay appoint () or, upon receipt of Proper Instructions, appoint another bank or trust company, which is itself qualified under the Investment Company Act to act as a custodian (a "Subcustodian"), as the agent of the Custodian to carry out such of the duties of the Custodian hereunder as a Custodian may from time to time direct; provided, however, that the appointment of any Subcustodian shall not relieve the Custodian of its responsibilities or liabilities hereunder.

Appears in 1 contract

Samples: Custody Agreement (Franklin Valuemark Funds)

AutoNDA by SimpleDocs

Appointment of Subcustodians. The Custodian may, upon receipt of Proper Instructions, appoint another bank or trust Fund company, which is itself qualified under the Investment Company Act to act as a custodian (a "Subcustodian"), as the agent of the Custodian to carry out such of the duties of the Custodian hereunder as a Custodian may from time to time direct; provided, however, that the appointment of any Subcustodian shall not relieve the Custodian of its responsibilities or liabilities hereunder.

Appears in 1 contract

Samples: Custody Agreement (Franklin Templeton Money Fund Trust)

Appointment of Subcustodians. The Custodian may, upon receipt of Proper Instructions, appoint another bank or trust company, which is itself qualified under the Investment Company 1940 Act to act as a custodian (a "Subcustodian"), as the agent of the Custodian to carry out such of the duties of the Custodian hereunder as a Custodian may from time to time direct; provided, however, that the appointment of any Subcustodian shall not relieve the Custodian of its responsibilities or liabilities hereunder.

Appears in 1 contract

Samples: Custody Agreement (Franklin Premier Return Fund)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!