Common use of Custodian’s Powers Clause in Contracts

Custodian’s Powers. Subject to the terms of this Agreement and applicable law, the Sponsor as Agent for the Custodian shall have the power and authority in the administration of the Custodial Account to do all acts, to execute and deliver all instruments and to exercise for the benefit of the Participants and their Beneficiaries any and all powers which would be lawful were it in its own right the actual owner of the property held.

Custodian’s Powers. Subject to the terms of this Agreement and applicable law, the Sponsor Sponsor, as Agent for the Custodian Custodian, shall have the power and authority in the administration of the Custodial Account to do all acts, to execute and deliver all instruments and to exercise for the benefit of the Participants and their Beneficiaries any and all powers which would be lawful were it in its own right the actual owner of the property held.