Assignment of Casual Custodians Sample Clauses

Assignment of Casual Custodians. The Board will rotate casual assignments among all casual custodians for all vacancies of less than thirty (30) days’ duration. As a general principle, casual custodians are not to be assigned to a position for a period longer than thirty (30) days. It is recognized that certain conditions may develop that result in extending the assignment beyond 30 days. When this occurs, the parties will work cooperatively to assess the situation and determine if a rotation is necessary.
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Related to Assignment of Casual Custodians

  • SUB-CUSTODIANS Upon receipt of Proper Instructions, the Custodian shall on behalf of a Fund appoint one or more banks, trust companies or other entities located in the United States and designated in the Proper Instructions to act as a sub-custodian for the purposes of effecting such transactions as may be designated by the Fund in the Proper Instructions. The Custodian may place and maintain each Fund’s foreign securities with foreign banking institution sub-custodians employed by the Custodian or foreign securities depositories, all in accordance with the applicable provisions of Sections 4 and 5. An entity acting in the capacity of Underlying Transfer Agent is not an agent or sub-custodian of the Custodian for purposes of this Agreement.

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