Common use of Custodial Duties Requiring Instructions Clause in Contracts

Custodial Duties Requiring Instructions. The Custodian shall promptly carry out the following actions but only upon receipt of and in accordance with specific Instructions: (i) make payment for and/or receive any Securities or deliver or dispose of any Securities except as otherwise specifically provided for in this Agreement; (ii) deal with rights, conversions, options, warrants, exchanges, calls, tenders, consent solicitations, redemptions, dividends and other similar interests or any other discretionary right in connection with Securities; and (iii) carry out any action affecting Securities or the Custody Account or Cash or the Cash Account other than those specified in Section 6(B) below, but in each instance subject to the agreement of the Custodian, which agreement shall not be unreasonably withheld or delayed.

Custodial Duties Requiring Instructions. The Custodian shall promptly carry out the following actions but only upon receipt of and in accordance with specific Instructions: (i) make payment for and/or receive any Securities or deliver or dispose of any Securities except as otherwise specifically provided for in this Agreement, and exchange, convert or deliver any Securities in connection with any mandatory corporate action; (ii) deal with rights, conversions, options, warrants, exchanges, calls, tenders, consent solicitations, redemptions, dividends warrants and other similar interests or any other discretionary right in connection with Securities; and (iii) carry out any action affecting Securities or the Custody Account or Cash or the Cash Account other than those specified in Section 6(B) below, but in each instance subject to the agreement of the Custodian, which agreement shall not be unreasonably withheld or delayed.