Communications Relating to Portfolio Securities. (a) The Custodian shall transmit promptly to the applicable Fund for each Portfolio all written information and notices received by the Custodian from issuers with regard to the securities being held for the Portfolio and/or any corporate action by such issuer affecting such securities (including without limitation stock splits, stock dividends, reorganizations, pendency of calls and maturities of domestic securities and expirations of rights in connection therewith, notices of exercise of call and put options written by the Fund on behalf of the Portfolio and the maturity of futures contracts purchased or sold by the Fund on behalf of the Portfolio). (b) With respect to tender or exchange offers, the Custodian shall transmit promptly to the applicable Fund all written information received by the Custodian from issuers of the securities whose tender or exchange is sought and from the party (or its agents) making the tender or exchange offer. If a Fund desires to take action with respect to any tender offer, exchange offer or any other similar transaction, the Fund shall notify the Custodian prior to the deadline established by the Custodian in its reasonable discretion as will give the Custodian (including any Foreign Sub-Custodian) sufficient time to take such action, which deadline shall in no event be longer than three (3) business days. The Custodian shall inform the Fund or its appointed investment adviser of pertinent deadlines in each case.
Appears in 65 contracts
Samples: Custodian Services Agreement (Western Asset Middle Market Debt Fund Inc.), Custodian Services Agreement (ClearBridge Energy MLP Total Return Fund Inc.), Custodian Services Agreement (Legg Mason BW Global Income Opportunities Fund Inc.)
Communications Relating to Portfolio Securities. (a) The Custodian shall transmit promptly to the applicable Fund for each Portfolio all written information and notices received by the Custodian from issuers with regard to the securities being held for the Portfolio and/or any corporate action by such issuer affecting such securities (including without limitation stock splits, stock dividends, reorganizations, pendency of calls and maturities of domestic securities Domestic Securities and expirations of rights in connection therewith, notices of exercise of call and put options written by the Fund on behalf of the Portfolio and the maturity of futures contracts purchased or sold by the Fund on behalf of the Portfolio).
(b) With respect to tender or exchange offers, the Custodian shall transmit promptly to the applicable Fund all written information received by the Custodian from issuers of the securities whose tender or exchange is sought and from the party (or its agents) making the tender or exchange offer. If a Fund desires to take action with respect to any tender offer, exchange offer or any other similar transaction, the Fund shall notify the Custodian prior to the deadline established by the Custodian in its reasonable discretion as will give the Custodian (including any Foreign Sub-Custodian) sufficient time to take such action, which deadline shall in no event be longer than three (3) business daysdays prior to the date on which the Custodian is to take such action. If the Fund provides the Custodian with such notification after such deadline, the Custodian shall use commercially reasonable efforts to take such action. The Custodian shall inform the Fund or its appointed investment adviser a reasonable time in advance, to the extent possible, of pertinent deadlines in each case.
Appears in 23 contracts
Samples: Custodian Services Agreement, Custodian Services Agreement (Western Asset Emerging Markets Debt Fund Inc.), Custodian Services Agreement (Western Asset Global High Income Fund Inc.)
