Common use of Certain Ministerial Acts Clause in Contracts

Certain Ministerial Acts. (a) Until Bank receives Instructions to the contrary, Bank will: (i) present all Financial Assets for which Bank has received notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation; (ii) execute in the name of Customer such certificates as may be required to obtain payment in respect of Financial Assets; and (iii) exchange interim or temporary documents of title held in the Securities Account for definitive documents of title, or for transfer into the name of an entity allowable under Section 2.3; and for a different number of certificates or instruments representing the same number of shares or the same principal amount of indebtedness. (b) Subject to Section 10.10, Bank may provide information concerning the Accounts to Subcustodians, Securities Depositories, counterparties, issuers of Financial Assets, governmental entities, securities exchanges, self-regulatory entities, and similar entities to the extent required by Applicable Law or as may be required by market practice for accounts of Institutional Clients in order to provide the services contemplated by this Agreement. (c) Bank shall attend to all nondiscretionary details in connection with the sale or purchase or other administration of Financial Assets, except as otherwise directed by Instruction, and may make payments to itself or others for minor expenses of administering Financial Assets under this Agreement, provided that Customer shall have the right to request an accounting with respect to such expenses.

Certain Ministerial Acts. (a) Until Bank receives Instructions to the contrary, Bank will: (i) present all Financial Assets for which Bank has received notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation; (ii) execute in the name of Customer such certificates as may be required to obtain payment in respect of Financial Assets; and (iii) exchange interim or temporary documents of title held in the Securities Account for definitive documents of title, or for transfer into the name of an entity allowable under Section 2.3; and for a different number of certificates or instruments representing the same number of shares or the same principal amount of indebtedness. (b) Subject to Section 10.1010.11, Bank may provide information concerning the Accounts to Subcustodians, Securities Depositories, counterparties, issuers of Financial Assets, governmental entities, securities exchanges, self-regulatory entities, and similar entities to the extent required by Applicable Law or as may be required by market practice for accounts of Institutional Clients in order to provide the services contemplated by this Agreement. (c) Bank shall attend to all nondiscretionary details in connection with the sale or purchase or other administration of Financial Assets, except as otherwise directed by Instruction, and may make payments to itself or others for minor expenses of administering Financial Assets Investments under this Agreement, provided that Customer shall have the right to request an accounting with respect to such expenses.