Collection of Income and Other Matters Affecting Securities. Unless otherwise instructed to the contrary by Written Instructions, the Bank shall with respect to all Securities held for a Series in accordance with this Agreement: 4.5.1. Collect all income due or payable and credit such ------ income promptly on the contractual settlement date, whether or not actually received, to the account of the appropriate Series, except for income from foreign issues. Income which has not been collected after reasonable effort, within a time agreed upon between the parties, shall, be repaid to the Bank pending final collection at such date as may be mutually agreed upon by the Fund and the Bank. 4.5.2. Present for payment and collect the amount payable upon ------ all Securities which may mature or be called, redeemed or retired, or otherwise become payable. Bank shall promptly inform Fund of any call, redemption or retirement date with respect to Securities which are owned by a Series and held by the Bank or its nominee. Notwithstanding the foregoing, the Bank shall have no responsibility to the Fund or a Series for monitoring or ascertaining of any call, redemption or retirement date with respect to Securities, which are held by a Series and held by Bank or its nominee. Nor shall the Bank have any responsibility or liability to the Fund or to a Series for any loss by a Series for any missed payment or other default resulting therefrom unless the Bank received timely notification from the issuer or its agent specifying the time, place and manner for the presentment of any put bond owned by a Series and held by the Bank or its nominee, and Bank fails to promptly notify the Fund of the same. 4.5.3. Execute any necessary declarations or certificates of ------ ownership under the Federal income tax laws or the laws or regulations of any other taxing authority now or hereafter in effect; and 4.5.4. Hold for the account of each Series all rights and ------ other Securities issued with respect to any Securities held by the Bank hereunder for such Series.
Appears in 1 contract
Sources: Mutual Fund Custody Agreement (North Track Funds Inc)
Collection of Income and Other Matters Affecting Securities. Unless otherwise instructed to the contrary by Written Instructions, the Bank shall with respect to all Securities held for a Series in accordance with this Agreement:
4.5.1. 4.5.1 Collect all income due or payable and credit such ------ income promptly on the contractual settlement date, whether or not actually received, to the account of the appropriate Series, except for income from foreign issues. Income which has not been collected after reasonable effort, within a time agreed upon between the parties, shall, shall be repaid to the Bank pending final collection at such date as may be mutually agreed upon by the Fund Trust and the Bank.;
4.5.2. 4.5.2 Present for payment and collect in a timely manner the amount payable upon ------ all Securities which may mature or be called, redeemed or retired, or otherwise become payable. Bank bank shall promptly make a good faith effort to inform Fund Trust of any call, redemption or retirement date with respect to Securities which are owned by a Series and held by the Bank or its nominee. Notwithstanding the foregoing, the Bank shall have no responsibility to the Fund Trust or a Series series for monitoring or ascertaining of any call, redemption or retirement date with respect to Securities, Securities which are held owned by a Series and held by Bank or its nominee. Nor with respect to any put bond shall the Bank have any responsibility or liability to the Fund Trust or to a Series for any loss by a Series for any missed payment or other default resulting therefrom unless the Bank received timely notification general notification, which shall not be less than 5 business days, from the issuer Trust or its agent the Series specifying the time, place and manner for the presentment of any put bond owned by a Series and held by the Bank or its nominee, . The Bank shall not be responsible and assumes no liability to the Trust or a Series for the accuracy or completeness of any notification the Bank fails shall provide to promptly notify the Fund of the same.Trust or a Series with respect to put securities;
4.5.3. 4.5.3 Execute any necessary declarations or certificates of ------ ownership under the Federal income tax laws or the laws or regulations of any other taxing authority now or hereafter in effect; and;
4.5.4. 4.5.4 Hold for the account of each Series all rights and ------ other Securities issued with respect to any Securities held by the Bank hereunder for such Series; and
4.5.5 With respect to all Securities (except foreign securities) the Bank will pay to the Trust for the benefit of the Series, all interest and dividend income which is due and payable but unpaid on the contractual settlement or payment dates, subject to reimbursement from the Trust in each case at such a later date as may be agreed upon by the Trust and the Bank.
Appears in 1 contract
Collection of Income and Other Matters Affecting Securities. Unless otherwise instructed to the contrary by Written InstructionsInstruction, the Bank Custodian by itself, or through the use of the Book-Entry System or the Depository with respect to Securities therein deposited, shall with respect to all Securities held for a Series in accordance with this Agreement:
4.5.1. (1) Collect all income due or payable and credit such ------ income promptly on the contractual settlement date, whether or not actually received, to the account of the appropriate Series, except for income from foreign issues. Income which has not been collected after reasonable effort, within a time agreed upon between the parties, shall, be repaid to the Bank pending final collection at such date as may be mutually agreed upon by the Fund and the Bank.payable;
4.5.2. (2) Present for payment and collect the amount payable upon ------ all Securities which may mature or be called, redeemed or retired, or otherwise become payable. Bank Notwithstanding the foregoing, the Custodian shall promptly inform Fund of have no responsibility to the Client or the Series for monitoring or ascertaining any call, redemption or retirement date dates with respect to Securities Put Bonds which are owned by a the Client or the Series and held by the Bank Custodian or its nominee. Notwithstanding the foregoing, the Bank shall have no responsibility to the Fund or a Series for monitoring or ascertaining of any call, redemption or retirement date with respect to Securities, which are held by a Series and held by Bank or its nomineenominees. Nor shall the Bank Custodian have any responsibility or liability to the Fund Client or to a the Series for any loss by a the Client or the Series for any missed payment payments or other default defaults resulting therefrom therefrom; unless the Bank Custodian received timely notification from the issuer or its agent Client specifying the time, place and manner for the presentment of any put bond such Put Bond owned by a the Client for the Series and held by the Bank Custodian or its nominee, . The Custodian shall not be responsible and Bank fails assumes no liability to promptly notify the Fund Client or the Series for the accuracy or completeness of any notification the same.Custodian may furnish to the Client with respect to Put Bonds;
4.5.3. (3) Surrender Securities in temporary form for definitive Securities;
(4) Execute any necessary declarations or certificates of ------ ownership under the Federal income tax laws or the laws or regulations of any other taxing authority now or hereafter in effecteffect including filing such documents as may be necessary to reclaim foreign withholding taxes paid by the Series; and
4.5.4. (5) Hold directly, or through the Book-Entry System or the Depository with respect to securities therein deposited, for the account of each Series all rights and ------ other Securities similar securities issued with respect to any Securities held by the Bank Custodian hereunder for such each Series.
Appears in 1 contract
Collection of Income and Other Matters Affecting Securities. Unless otherwise instructed to the contrary by Written Instructions, the Bank shall with respect to all Securities held for a Series in accordance with this Agreement:
4.5.1. 4.5.1 Collect all income due or payable and credit such ------ income promptly on the contractual settlement date, whether or not actually received, to the account of the appropriate Series, except for income from foreign issues. Income which has not been collected after reasonable effort, within a time agreed upon between the parties, shall, shall be repaid to the Bank pending final collection at such date as may be mutually agreed upon by the Fund Trust and the Bank.;
4.5.2. 4.5.2 Present for payment and collect the amount payable upon ------ all Securities which may mature or be called, redeemed or retired, or otherwise become payable. Bank shall promptly make a good faith effort to inform Fund of any call, redemption or retirement date with respect to Securities securities which are owned by a Series and held by the Bank or its nominee. Notwithstanding the foregoing, the Bank shall have no responsibility to the Fund or a Series for monitoring or ascertaining of any call, redemption or retirement date with respect to Securities, securities which are held by a Series and held by Bank or its nominee. Nor shall the Bank have any responsibility or liability to the Fund or to a Series for any loss by a Series for any missed payment or other default resulting therefrom unless the Bank received timely notification general notification, which shall not be less than 5 business days, from the issuer Fund or its agent the Series specifying the time, place and manner for the presentment of any put bond owned by a Series and held by the Bank or its nominee, . The Bank shall not be responsible and Bank fails assumes no liability to promptly notify the Fund or a Series for the accuracy or completeness of any notification the same.Bank shall provide to the Fund or a series with respect to put securities;
4.5.3. 4.5.3 Execute any necessary declarations or certificates of ------ ownership under the Federal income tax laws or the laws or regulations of any other taxing authority now or hereafter in effect; and
4.5.4. Hold for the account of each Series all rights and ------ other Securities issued with respect to any Securities held by the Bank hereunder for such Series.
Appears in 1 contract
Collection of Income and Other Matters Affecting Securities. Unless otherwise instructed to the contrary by Written Instructions, the Bank shall with respect to all Securities held for a Series in accordance with this Agreement:
4.5.1. 4.5.1 Collect all income due or payable and credit such ------ income promptly on the contractual settlement date, whether or not actually received, to the account Account of the appropriate Series, except for income from foreign issues, which shall be credited thereto only upon receipt thereof by the Bank. Income which has not been collected after reasonable effort, within a time agreed upon between MCM and the partiesBank, shall, shall be repaid to the Bank pending final collection at such date as may be mutually agreed upon by the Fund MCM and the Bank.;
4.5.2. 4.5.2 Present for payment and collect the amount payable upon ------ all Securities which may mature or be called, redeemed or retired, or otherwise become payable. The Bank shall promptly make a good faith effort to inform Fund MCM of any call, redemption or retirement date with respect to Securities which are owned by a Series and held by the Bank or its nominee. Notwithstanding the foregoing, the Bank shall have no responsibility to the Fund MCM or a Series for monitoring or ascertaining of any call, redemption or retirement date with respect to Securities, which Securities that are held owned by or in the possession of a Series and held by the Bank or its duly appointed registered nominee. Nor The Bank also shall the Bank have any no responsibility or liability to the Fund MCM or to a Series for any loss by a Series for any missed payment or other default resulting therefrom unless the Bank received timely notification notification, which shall not be less than three (3) Business Days, from the issuer or its agent MCM specifying the time, place and manner for the presentment of any put bond owned by a Series and held by the Bank or its nominee, . The Bank shall not be responsible and assumes no liability to MCM or a Series for the accuracy or completeness of any notification the Bank fails shall provide to promptly notify the Fund of the same.MCM or a Series with respect to put Securities;
4.5.3. 4.5.3 Execute any necessary declarations or certificates of ------ ownership under the Federal income tax laws or the laws or regulations of any other taxing authority now or hereafter in effect; and
4.5.4. 4.5.4 Hold for in the account Account of each Series all rights and ------ other Securities issued with respect to any Securities held by the Bank hereunder for such Series.
Appears in 1 contract
Collection of Income and Other Matters Affecting Securities. Unless otherwise instructed to the contrary by Written Instructions, the Bank shall with respect to all Securities held for a Series in accordance with this Agreement:
4.5.1. 4.5.1 Collect all income due or payable and credit such ------ income promptly on the contractual settlement date, whether or not actually received, to the account of the appropriate Series, except for income from foreign issues. Income which has not been collected after C-104 reasonable effort, within a time agreed upon between the parties, shall, shall be repaid to the Bank pending final collection at such date as may be mutually agreed upon by the Fund Trust and the Bank.;
4.5.2. 4.5.2 Present for payment and collect the amount payable upon ------ all Securities which may mature or be called, redeemed or retired, or otherwise become payable. Bank shall promptly make a good faith effort to inform Fund of any call, redemption or retirement date with respect to Securities securities which are owned by a Series and held by the Bank or its nominee. Notwithstanding the foregoing, the Bank shall have no responsibility to the Fund or a Series for monitoring or ascertaining of any call, redemption or retirement date with respect to Securities, securities which are held by a Series and held by Bank or its nominee. Nor shall the Bank have any responsibility or liability to the Fund or to a Series for any loss by a Series for any missed payment or other default resulting therefrom unless the Bank received timely notification general notification, which shall not be less than 5 business days, from the issuer Fund or its agent the Series specifying the time, place and manner for the presentment of any put bond owned by a Series and held by the Bank or its nominee, . The Bank shall not be responsible and Bank fails assumes no liability to promptly notify the Fund or a Series for the accuracy or completeness of any notification the same.Bank shall provide to the Fund or a series with respect to put securities;
4.5.3. 4.5.3 Execute any necessary declarations or certificates of ------ ownership under the Federal income tax laws or the laws or regulations of any other taxing authority now or hereafter in effect; and
4.5.4. 4.5.4 Hold for the account of each Series all rights and ------ other Securities issued with respect to any Securities held by the Bank hereunder for such Series.
Appears in 1 contract
Sources: Custody Agreement (Bb&t Funds /)
Collection of Income and Other Matters Affecting Securities. Unless otherwise instructed to the contrary by Written Instructions, the Bank shall with respect to all Securities held for a Series in accordance with this Agreement:
4.5.1. 4.5.1 Collect all income due or payable and credit such ------ income promptly on the contractual settlement date, whether or not actually received, to the account of the appropriate Series, except for income from foreign issues. Income which has not been collected after reasonable effort, within a time agreed upon between the parties, shall, shall be repaid to the Bank pending final collection at such date as may be mutually agreed upon by the Fund Trust and the Bank.;
4.5.2. 4.5.2 Present for payment and collect the amount payable upon ------ all Securities which may mature or be called, redeemed or retired, or otherwise become payable. Bank shall promptly make a good faith effort to inform Fund Trust of any call, redemption or retirement date with respect to Securities securities which are owned by a Series and held by the Bank or its nominee. Notwithstanding the foregoing, the Bank shall have no responsibility to the Fund Trust or a Series for monitoring or ascertaining of any call, redemption or retirement date with respect to Securities, securities which are held by a Series and held by Bank or its nominee. Nor shall the Bank have any responsibility or liability to the Fund Trust or to a Series for any loss by a Series for any missed payment or other default resulting therefrom unless the Bank received timely notification general notification, which shall not be less than 5 business days, from the issuer Trust or its agent the Series specifying the time, place and manner for the presentment of any put bond owned by a Series and held by the Bank or its nominee, . The Bank shall not be responsible and assumes no liability to the Trust or a Series for the accuracy or completeness of any notification the Bank fails shall provide to promptly notify the Fund of the same.Trust or a series with respect to put securities;
4.5.3. 4.5.3 Execute any necessary declarations or certificates of ------ ownership under the Federal income tax laws or the laws or regulations of any other taxing authority now or hereafter in effect; and
4.5.4. 4.5.4 Hold for the account of each Series all rights and ------ other Securities issued with respect to any Securities held by the Bank hereunder for such Series.
Appears in 1 contract
Collection of Income and Other Matters Affecting Securities. Unless otherwise instructed to the contrary by Written Instructions, the Bank shall with respect to all Securities held for a Series in accordance with this Agreement:
4.5.1. 4.5.1 Collect all income due or payable and credit such ------ income promptly on the contractual settlement date, whether or not actually received, to the account of the appropriate Series, except for income from foreign issues. Income which has not been collected after reasonable effort, within a time agreed upon between the parties, shall, shall be repaid to the Bank pending final collection at such date as may be mutually agreed upon by the Fund Trust and the Bank.
4.5.2. 4.5.2 Present for payment and collect the amount payable upon ------ all Securities which may mature or be called, redeemed or retired, or otherwise become payable. Bank shall promptly monitor major publications for notice or corporate actions in accordance with normal industry standards and shall make a good faith effort to inform Fund Trust of any call, redemption or retirement date with respect to Securities which are owned by a Series and held by the Bank or its nominee. Notwithstanding the foregoing, the Bank shall have makes no responsibility guarantees to the Fund Trust or a Series for that such normal monitoring or ascertaining of shall identify any call, redemption or retirement date with respect to Securities, Securities which are held by a Series and held by Bank or its nominee. Nor shall the Bank have any responsibility or liability to the Fund Trust or to a Series for any loss by a Series for any missed payment or other default resulting therefrom unless the Bank received timely notification notification, which shall not be less than 5 business days, from the issuer Trust or its agent the Series or a depository specifying the time, place and manner for the presentment of any put bond owned by a Series and held by the Bank or its nominee, . The Bank shall not be responsible and assumes no liability to the Trust or a Series for the accuracy or completeness of any notification provided to the Bank fails that the Bank shall provide to promptly notify the Fund of the same.Trust or a Series with respect to put Securities;
4.5.3. 4.5.3 Execute any necessary declarations or certificates of ------ or ownership under the Federal income tax laws or the laws or regulations of any other taxing authority now or hereafter in effect; and
4.5.4. 4.5.4 Hold for the account of each Series all rights and ------ other Securities issued with respect to any Securities held by the Bank hereunder for such Series.
Appears in 1 contract