Common use of COUNSEL; LEGAL EXPENSES Clause in Contracts

COUNSEL; LEGAL EXPENSES. Chase shall be entitled to the advice of counsel (who may be counsel for the Trust) at the expense of the Trust, in connection with carrying out Chase's duties hereunder and in no event shall Chase be liable for any action taken or omitted to be taken by it in good faith pursuant to advice of such counsel. If, in the absence of fault attributable to Chase and in the course of or in connection with carrying out its duties and obligations hereunder, any claims or legal proceedings are instituted against Chase or any Chase Branch by third parties, the Trust will hold Chase harmless against any claims, liabilities, costs, damages or expenses incurred in connection therewith and, if the Trust so elects, the Trust may assume the defense thereof with counsel satisfactory to Chase, and thereafter shall not be responsible for any further legal fees that may be incurred by Chase, provided, however, that all of the foregoing is conditioned upon the Trust's receipt from Chase of prompt and due notice of any such claim or proceeding.

Appears in 3 contracts

Samples: Custody Agreement (Templeton Variable Products Series Fund), Custody Agreement (Franklin Templeton International Trust), Custody Agreement (Franklin Global Trust)

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COUNSEL; LEGAL EXPENSES. Chase shall be entitled to the advice of counsel (who may be counsel for the TrustCompany) at the expense of the TrustCompany, in connection with carrying out Chase's duties hereunder and in no event shall Chase be liable for any action taken or omitted to be taken by it in good faith pursuant to advice of such counsel. If, in the absence of fault attributable to Chase and in the course of or in connection with carrying out its duties and obligations hereunder, any claims or legal proceedings are instituted against Chase or any Chase Branch by third parties, the Trust Company will hold Chase harmless against any claims, liabilities, costs, damages or expenses incurred in connection therewith and, if the Trust Company so elects, the Trust Company may assume the defense thereof with counsel satisfactory to Chase, and thereafter shall not be responsible for any further legal fees that may be incurred by Chase, provided, however, that all of the foregoing is conditioned upon the TrustCompany's receipt from Chase of prompt and due notice of any such claim or proceeding.

Appears in 2 contracts

Samples: Custody Agreement (Templeton Institutional Funds Inc), Custody Agreement (Templeton Institutional Funds Inc)

COUNSEL; LEGAL EXPENSES. Chase shall be entitled to the advice of counsel (who may be counsel for the TrustFund) at the expense of the Trust, Fund in connection with carrying out Chase's duties hereunder and in no event shall Chase be liable for any action taken or omitted to be taken by it in good faith pursuant to advice of such counsel. If, in the absence of fault attributable to Chase and in the course of or in connection with carrying out its duties and obligations hereunder, any claims or legal proceedings are instituted against Chase or any Chase Branch by third parties, the Trust Fund will hold Chase harmless against any claims, liabilities, costs, damages or expenses incurred in connection therewith and, if the Trust Fund so elects, the Trust Fund may assume the defense thereof with counsel satisfactory to Chase, and thereafter shall not be responsible for any further legal fees that may be incurred by Chase, provided, however, that all of the foregoing is conditioned upon the TrustFund's receipt from Chase of prompt and due notice of any such claim or proceeding.

Appears in 2 contracts

Samples: Custody Agreement (Templeton Russia & East European Fund Inc), Custody Agreement (Templeton Growth Fund Inc)

COUNSEL; LEGAL EXPENSES. Chase shall be entitled to the advice of counsel (who may be counsel for the TrustFund) at the expense of the Trust, Fund in connection with carrying out Chase's duties hereunder and in no event shall Chase be liable for any action taken or omitted to be taken by it in good faith pursuant to advice of such counsel. If, If in the absence of fault attributable to Chase and in the course of or in connection with carrying out its duties and obligations hereunder, any claims or legal proceedings are instituted against Chase or any Chase Branch by third parties, the Trust Fund will hold Chase harmless against any claims, liabilities, costs, damages or expenses incurred in connection therewith and, if the Trust Fund so elects, the Trust Fund may assume the defense thereof with counsel satisfactory to Chase, and thereafter shall not be responsible for any further legal fees that may be incurred by Chase, provided, however, that all of the foregoing is conditioned upon the TrustFund's receipt from Chase of prompt and due notice of any such claim or proceeding.

Appears in 1 contract

Samples: Custody Agreement (Templeton Global Income Fund Inc)

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COUNSEL; LEGAL EXPENSES. Chase shall be entitled to the advice of counsel (who may be counsel for the TrustCompany) at the expense of the Trust, Company in connection with carrying out Chase's duties hereunder and in no event shall Chase be liable for any action taken or omitted to be taken by it in good faith pursuant to advice of such counsel. If, in the absence of fault attributable to Chase and in the course of or in connection with carrying out its duties and obligations hereunder, hereunder any claims or legal proceedings are instituted against Chase or any Chase Branch by third parties, the Trust Company will hold Chase harmless against any claims, liabilities, costs, damages or expenses incurred in connection therewith and, if the Trust Company so elects, the Trust company may assume the defense thereof with counsel satisfactory to Chase, and thereafter shall not be responsible for any further legal fees that may be incurred by Chase, provided, however, that all of the foregoing is conditioned upon the Trust's receipt from Chase of prompt and due notice of any such claim or proceeding.,

Appears in 1 contract

Samples: Custody Agreement (Templeton Smaller Companies Growth Fund Inc)

COUNSEL; LEGAL EXPENSES. Chase shall be entitled to the advice of counsel (who may be counsel for the TrustFund) at the expense of the Trust, Fund in connection with carrying out Chase's duties hereunder and in no event shall Chase be liable for any action taken or omitted to be taken by it in good faith pursuant to advice of such counsel. If, in the absence of fault attributable to Chase and in the course of or in connection with carrying out its duties and obligations hereunder, any claims or or. legal proceedings are instituted against Chase or any Chase Branch by third parties, the Trust Fund will hold Chase harmless against any claims, liabilities, costs, damages or expenses incurred in connection therewith and, if the Trust Fund so elects, the Trust Fund may assume the defense thereof with counsel satisfactory to Chase, and thereafter shall not be responsible for any further legal fees that may be incurred by Chase, provided, however, that all of the foregoing is conditioned upon the TrustFund's receipt from Chase of prompt and due notice of any such claim or proceeding.

Appears in 1 contract

Samples: Custody Agreement (Templeton China World Fund Inc)

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