Common use of Checks, Notes, Drafts, Etc Clause in Contracts

Checks, Notes, Drafts, Etc. Except as otherwise authorized by the Board of Trustees, all checks and drafts for the payment of money shall be signed in the name of the Trust by the Custodian, and all requisitions or orders for the payment of money by the Custodian or for the issue of checks and drafts therefor, all promissory notes, all assignments of shares or securities standing in the name of the Trust and all requisitions or orders for the assignment of shares or securities standing in the name of the Custodian or its nominee, or for the execution of powers to transfer the same, shall be signed in the name of the Trust by not less than two of its officers. Promissory notes, checks, or drafts payable to the Trust may be endorsed only to the order of the Custodian or its agent.