Common use of Custodial and Other Arrangements Clause in Contracts

Custodial and Other Arrangements. The Fund shall, from time to time, inform the Investment Manager as to the custodian and any sub-custodian of the Fund, each broker with whom an account is opened by the Fund, any administrator of the Fund, and any other service providers of the Fund. By entering into this Agreement, the Fund directs each custodian and sub-custodian (if any) of the Fund and each broker with whom an account is opened by the Fund to honor and execute trading instructions of the Investment Manager to the same extent and effect as if the Fund had issued such instructions itself. The Fund shall, from time to time, direct these custodians, sub-custodians and the administrator(s) of the Fund to provide the Investment Manager with such periodic reports concerning the status of the Fund and the Managed Assets as the Investment Manager may reasonably request from time to time. The Fund may not retain or appoint additional or replacement custodian(s), sub-custodians, brokers, administrators or other service providers without giving the Investment Manager reasonable prior notice of its intention to do so, together with the name and other relevant information with respect to the replacement or additional entities or providers. The Fund agrees to execute and deliver to each such custodian, sub-custodian and broker such powers-of-attorney and other or additional authorizations as may be requested by such custodian, sub-custodian or broker in order to more fully establish and effectuate the discretionary authority granted to the Investment Manager by this Agreement. However, nothing in this Agreement or in any authority or power-of-attorney shall authorize the Investment Manager at any time to take custody itself or direct to others the custody or control of any Managed Assets, it being expressly understood that such custody and control shall remain at all times with the custodian(s) and sub-custodian(s) of the Fund as appointed by the Fund and/or the Board of Directors, from time to time. The discretionary investment authority granted by this Agreement and any authorization or power-of-attorney executed by the Fund and delivered to any custodian, sub-custodian or broker pursuant this Agreement may be fully relied upon by such custodian, sub-custodian or broker until it receives notice from the Fund of the termination of such authorization or power-of-attorney. The Fund shall be responsible for the payment of any and all commissions, custodian or other charges, and the Investment Manager shall have no responsibility for such payments.

Appears in 3 contracts

Samples: Investment Management Agreement (Fintan Alternative Fixed Income Master Fund, LLC), Investment Management Agreement (Fintan Alternative Fixed Income Advisory Fund, LLC), Investment Management Agreement (Fintan Alternative Fixed Income Institutional Fund, LLC)

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Custodial and Other Arrangements. The Fund Company shall, from time to time, inform the Investment Manager Adviser as to the custodian and any sub-custodian of the FundCompany, each broker with whom an account is opened by the FundCompany, any administrator of the Fund, Administrator(s) and any other service providers of the FundCompany. By entering into this Agreement, the Fund Company hereby directs each custodian and sub-custodian (if any) of the Fund Company and each broker with whom an account is opened by the Fund Company to honor and execute trading instructions of the Investment Manager Adviser to the same extent and effect as if the Fund Company had issued such instructions itself. The Fund Company shall, from time to time, direct these custodians, sub-custodians and the administrator(sAdministrator(s) of the Fund Company to provide the Investment Manager Adviser with such periodic reports concerning the status of the Fund Company and the Managed Assets as the Investment Manager Adviser may reasonably request from time to time. The Fund Company may not retain or appoint additional or replacement custodian(s), sub-custodians, brokers, administrators Administrators or other service providers without giving the Investment Manager Adviser reasonable prior notice of its intention to do so, together with the name and other relevant information with respect to the replacement or additional entities or providers. The Fund Company agrees to execute and deliver to each such custodian, sub-custodian and broker such powers-of-attorney and other or additional authorizations as may be requested by such custodian, sub-custodian or broker in order to more fully establish and effectuate the discretionary authority granted to the Investment Manager by this AgreementAdviser hereby. However, nothing in this Agreement herein or in any authority or power-of-attorney shall authorize the Investment Manager Adviser at any time to take custody itself or direct to others the custody or control of any Managed Assets, it being expressly understood that such custody and control shall remain at all times with the custodian(s) and sub-custodian(s) of the Fund Company as appointed by the Fund Company and/or the Board of Directors, from time to time. The discretionary investment authority granted by this Agreement hereby and any authorization or power-of-attorney executed by the Fund Company and delivered to any custodian, sub-custodian or broker pursuant this Agreement hereto may be fully relied upon by such custodian, sub-custodian or broker until it receives notice from the Fund Company of the termination of such authorization or power-of-attorneythereof. The Fund Company shall be responsible for the payment of any and all commissions, custodian or other charges, and the Investment Manager Adviser shall have no responsibility for such paymentstherefor.

Appears in 2 contracts

Samples: Investment Advisory Agreement (Cantor Opportunistic Alternatives Fund, LLC), Investment Advisory Agreement (Cantor Opportunistic Alternatives Fund, LLC)

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