Common use of Bank May Consult With Counsel Clause in Contracts

Bank May Consult With Counsel. Bank shall be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 100 contracts

Samples: Global Custody Agreement (Vanguard Fixed Income Securities Funds), Global Custody Agreement (Vanguard Specialized Funds), Global Custody Agreement (Vanguard Valley Forge Funds)

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Bank May Consult With Counsel. Bank shall be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 54 contracts

Samples: Global Custody Agreement, Country Sub (Vanguard Wellington Fund), Country Sub (Vanguard Wellesley Income Fund)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 20 contracts

Samples: Accounting Agreement (JPMorgan Institutional Trust), And Fund Accounting Agreement (JPMorgan Trust I), Accounting Agreement (Jpmorgan Trust Ii)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which reasonably may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 14 contracts

Samples: Fund Accounting Agreement (Undiscovered Managers Funds), Fund Accounting Agreement (Jp Morgan Mutual Fund Investment Trust), Fund Accounting Agreement (Jp Morgan Fleming Mutual Fund Group Inc)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the adviceadvice of which it promptly notifies Customer.

Appears in 11 contracts

Samples: Global Custody Agreement, Custody Agreement, Custody Agreement

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 11 contracts

Samples: Domestic Custody Agreement (Tiaa Cref Life Separate Account Va-1), Domestic Custody Agreement (Tiaa-Cref Life Separate Account Vli-1), Domestic Custody Agreement (Tiaa Cref Life Separate Account Va-1)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers counsel in relation to matters of law, regulation or market practice (which may be the professional advisers counsel of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that . Bank has selected and retained such professional advisers using will use reasonable care in the selection and acts reasonably in reliance on the advicecontinued appointment of such advisers.

Appears in 9 contracts

Samples: Global Custody Agreement (Universal Institutional Funds Inc), Global Custody Agreement (Morgan Stanley Emerging Markets Debt Fund Inc), Custody Agreement (Morgan Stanley Frontier Emerging Markets Fund, Inc.)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers counsel in relation to matters of law, regulation or market practice (which may be the professional advisers counsel of Customer), and shall not be liable deemed to Customer for have been negligent with respect to any action reasonably taken or omitted in good faith pursuant to such advice; provided that . Bank has selected and retained such professional advisers using will use reasonable care in the selection and acts reasonably in reliance on the advicecontinued appointment of such counsel.

Appears in 7 contracts

Samples: Master Global Custody Agreement (Columbia Funds Variable Series Trust II), Custody Agreement (Columbia Acorn Trust), Master Global Custody Agreement (Columbia Funds Series Trust)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers legal counsel in relation to matters of law, regulation or market practice (which may be the professional advisers legal counsel of Customer), and shall not be liable deemed to Customer for have been negligent with respect to any action reasonably taken or omitted in good faith pursuant to such advice; provided that . Bank has selected and retained such should notify Customer if relying on professional advisers using reasonable care and acts reasonably in reliance on the adviceadvisers.

Appears in 6 contracts

Samples: Master Global Custody Agreement (Curian Variable Series Trust), Master Global Custody Agreement (Curian Variable Series Trust), Master Global Custody Agreement (JNL Series Trust)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall not be liable deemed to Customer for have been negligent with respect to any action reasonably taken or omitted pursuant to such advice; , provided that Bank has selected and retained such professional advisers using exercised reasonable care and acts reasonably in reliance on the adviceselection of such counsel.

Appears in 5 contracts

Samples: Global Custody Agreement (DWS International Fund, Inc.), Global Custody Agreement (DWS Global/International Fund, Inc.), Global Custody Agreement (DWS International Fund, Inc.)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which reasonably may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided provided, that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 2 contracts

Samples: Accounting Agreement (JPMorgan Trust I), Accounting Agreement (JPMorgan Trust I)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that . Bank has selected and retained shall promptly notify Customer of any action taken or omitted by Bank pursuant to such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 2 contracts

Samples: Domestic Custody Agreement (Ziegler Exchange Traded Trust), Domestic Custody Agreement (Exchange Traded Trust)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided . In the event that Bank has selected and retained shall have need to seek advice of counsel, Bank will notify Customer where such professional advisers using reasonable care and acts reasonably in reliance advice may adversely affect Customer and, where possible, prior to taking any action on the such advice.

Appears in 2 contracts

Samples: Domestic Custody Agreement (Proshares Trust), Domestic Custody Agreement (Proshares Trust)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted in good faith pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 2 contracts

Samples: Global Custody Agreement (Goldman Sachs Variable Insurance Trust), Global Custody Agreement (Goldman Sachs Trust)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained , provided, however, with respect to the performance of any action upon such professional advisers using reasonable care and acts reasonably in reliance on advice, the adviceCustodian shall be required to conform to the Standard of Care.

Appears in 2 contracts

Samples: Global Custody Agreement (Fortress Pinnacle Investment Fund LLC), Jpmorgan Logo (Fortress Investment Trust Ii)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of non-U.S. law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; advice provided that Bank has selected and retained is not negligent in the selection of such professional advisers using reasonable care and acts reasonably in reliance on adviser. Bank will treat Customer the advicesame as other similarly situated customers when dealing with professional advisers.

Appears in 2 contracts

Samples: Global Custody Agreement (Seligman Portfolios Inc/Ny), Global Custody Agreement (Seligman Global Fund Series Inc)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall not be liable deemed to Customer for have been negligent with respect to any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 2 contracts

Samples: Master Global Custody Agreement (Navellier Performance Funds), Master Global Custody Agreement (Navellier Performance Funds)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 2 contracts

Samples: Domestic Custody Agreement (FBR Funds), Domestic Custody Agreement (Mma Praxis Mutual Funds)

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Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of reputable professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 1 contract

Samples: Global Custody Agreement (Friends Ivory Funds)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the adviceadviceof which it promptly notifies Customer.

Appears in 1 contract

Samples: Global Custody Agreement (Oppenheimer Main Street Small Cap Fund)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of CustomerCustomer or Fund), and shall will not be liable to Customer or Fund for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 1 contract

Samples: Global Custody Agreement (Tocqueville Alexis Trust)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to ============ such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.advice of which it promptly notifies Customer. =======================================

Appears in 1 contract

Samples: Global Custody Agreement (Oppenheimer International Bond Fund)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional Form Domestic Custody Agreement (Mutual Fund) February 28, 2007 advisers of Customer), and shall not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 1 contract

Samples: Domestic Custody Agreement (Diamond Hill Funds)

Bank May Consult With Counsel. Bank shall be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall not be liable to Customer for any action reasonably taken or omitted in good faith pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 1 contract

Samples: Global Custody Agreement (Apollo Investment Corp)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers with appropriate expertise in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 1 contract

Samples: Domestic Custody Agreement

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall not be liable to Customer for any action reasonably taken or omitted in good faith pursuant to such advice; provided that that, upon customer’s request and subject to the consent to disclose from the professional advisers, Bank has selected and retained shall promptly make available to Customer the relevant written opinions from such professional advisers using reasonable care and acts reasonably in reliance on the advice.advisers

Appears in 1 contract

Samples: Domestic Custody Agreement (NETS Trust)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), and shall will not be liable to Customer or the Fund for any action reasonably taken or omitted pursuant to such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 1 contract

Samples: Agreement (Tocqueville Trust)

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation or market practice (which may be the professional advisers of Customer), ) and shall not be liable deemed to Customer for any action reasonably taken or omitted pursuant to have breached the agreed standard of care set forth in Section 7.1(a) of this Agreement in relying on such advice; provided that Bank has selected and retained such professional advisers using reasonable care and acts reasonably in reliance on the advice.

Appears in 1 contract

Samples: JPMorgan Trust I

Bank May Consult With Counsel. Bank shall will be entitled to rely on, and may act upon the advice of professional advisers in relation to matters of law, regulation Applicable Law or market practice (which may be the professional advisers of Customer), and shall not be liable to Customer for any action reasonably taken or omitted pursuant to such advice; advice provided that Bank has selected and retained exercised reasonable care in the selection of such professional advisers using reasonable care and acts reasonably in reliance on the such advice.

Appears in 1 contract

Samples: Custody Agreement (Aberdeen Funds)

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