Authority of Custodian Sample Clauses

Authority of Custodian. 3.1 Until the Bank receives Instructions to the contrary, the Bank is authorised: (a) to receive and collect all income and principal with respect to Securities; (b) to present for payment Securities which are called for redemption or have otherwise matured and all coupons and other income items which call for payment upon presentation to the extent that the Bank is aware of the same; (c) to execute in the name of the Customer such ownership and other certificates as the Bank reasonably deems appropriate to obtain payments in respect thereof; (d) to exchange interim receipts or temporary Securities for Securities in definitive form (including to exchanging warrants or other document of entitlement to Securities for the Securities themselves); (e) to exchange the Securities for other Securities wholly or for any combination of other Securities and cash pursuant to any plan or merger, consolidation, reorganisation, recapitalisation or readjustment and/or upon conversion of Securities pursuant to their terms of issue; (f) to exercise subscription, purchase or other similar rights represented by the Securities; (g) to sell any right, entitlement or a fractional interest received in respect of Securities resulting from a right issue, stock dividend or stock split where such right(s), entitlement or fractional interest bears an expiration date; (h) to convert monies received in foreign currency with respect to any of the Securities into Ringgit Malaysia or any other currency as the Bank in its discretion deems necessary to effect any transaction involving Securities through the facilities of the Bank, its Nominee or any sub-custodian or, through any other customary banking channels, using any method or agency available; (i) to submit or present in the Bank’s sole discretion any of the Securities in the custody of the Bank for registration in the name of the Customer or any person nominated by the Customer or in the name of the Bank or any sub-custodian; and (j) to convert any scrip Securities to scripless Securities and execute all instruments and do all such acts as the Bank deems required for or incidental to the conversion including but not limited to the establishment of a direct securities account in the name of the Customer or the establishment of a securities account with the Bank or its Nominee or sub-custodian.

Authority of Custodian. Unless the Custodian has received an Authorized Instruction to the contrary, the Custodian shall, or shall instruct the appropriate Subcustodian to: (i) execute in the name of the Client such ownership and other certificates as may be required to obtain payment or exercise any rights in respect of any Securities; (ii) accept and open all mail directed to the Client in care of the Custodian or such Subcustodian; and (iii) retain or dispose of fractional interests received by the Custodian or such Subcustodian as a result of stock dividends in accordance with local law and practice. With respect to any corporate events not listed above, the Custodian shall (in the absence of an Authorized Instruction from the Client within any prescribed deadline) take any action that it considers appropriate in the circumstances; provided that the Custodian shall not be liable for the consequences of any such action.

Authority of Custodian. Custodian is empowered to do all things necessary or convenient for the administration of this Account. The Custodian’s duties and obligations shall be limited to those specified hereunder, in addition to those provided by law. Custodian will at all times be subject to the direction of the Client, or a person authorized by the Client to provide directions. as appropriate, and shall not act, nor be under any obligation to act, absent the direction of such persons.

Authority of Custodian. (a) The Custodian may (but is not obliged or under a duty to) do anything which the Custodian considers necessary or desirable in order to give effect to this Agreement or to comply with any obligations imposed upon it by Applicable Law. (b) Without limiting clause 3.2(a), the Custodian is authorised to: i. open and maintain Bank Accounts and Securities Accounts; ii. appoint any Agent or Sub-Custodians or use any Securities System; iii. enter into all types of foreign exchange transactions on behalf of the Client which the Custodian considers are necessary to give effect to settlement of transactions entered into by the Client; iv. make deductions from the Client’s Assets from time to time for the purposes of satisfying any obligation entered into in accordance with this Agreement; v. seek and act upon legal, professional and other advice; and vi. defend any legal proceedings in connection with the Client’s Assets. (c) In the event that any fractional interests arise as a result of a Distribution in relation to any Securities held by the Custodian for and on behalf of the Client or for and on behalf of the Client’s customersin a sub- account of the Client’s account, the Custodian will, subject to Applicable Law, retain that fractional entitlement after rounding down to the nearest whole Distribution owing to the Client.