Common use of Assets Not Controlled by J Clause in Contracts

Assets Not Controlled by J. X. Xxxxxx (a) J.X. Xxxxxx will not be obliged to (i) hold Account Assets with any person not agreed to by J.X. Xxxxxx or (ii) register or record Financial Assets in the name of any person other than J.X. Xxxxxx, a Subcustodian, or their respective nominee or (iii) register or record Financial Assets in the name of J.X. Xxxxxx or its nominee if J.X. Xxxxxx concludes cannot be operationally supported or (iv) register or record on J.X. Xxxxxx’x records Financial Assets or cash held outside of J.X. Xxxxxx’x control. If, however, the Customer makes any such request and J.X. Xxxxxx agrees to the request, the consequences of doing so will be at the Customer’s own risk. J.X. Xxxxxx shall not be responsible for the control of any such Financial Asset or cash, for verifying the Customer’s initial or ongoing ownership of any such Financial Asset or cash or for income collection, proxy voting, class action litigation or Corporate Action notification and processing with respect to any such Financial Asset. Any transaction relating to the settlement of the purchase or sale of any such Financial Asset shall be treated for purposes of this Agreement as a cash only movement. (b) From time to time, at the Customer’s request, J.X. Xxxxxx may agree to hold in its vault on the Customer’s behalf documentation relating to Financial Assets not held in J.X. Xxxxxx’x control. Notwithstanding anything in this Agreement to the contrary, J.X. Xxxxxx shall not be responsible for reviewing this documentation for any purpose, including authenticity, sufficiency or relevance to the Financial Asset to which it purports to relate.