Custodian’s Sub-Agent Network Sample Clauses
The "Custodian’s Sub-Agent Network" clause defines the custodian’s authority to appoint and utilize sub-agents or sub-custodians to perform certain duties on its behalf. In practice, this means the custodian can delegate specific responsibilities, such as holding or safeguarding assets, to third-party entities within its approved network, often in different jurisdictions or for specialized asset types. This clause ensures operational flexibility for the custodian while clarifying the scope of delegation and the parties involved, ultimately facilitating efficient asset management and addressing the practical need for custodians to operate across various markets and asset classes.
Custodian’s Sub-Agent Network. Principal hereby acknowledges receiving appropriate notice of Custodian's selection of the use of those Eligible Foreign Custodians and Eligible Securities Depositories that are identified in Appendix A of this Agreement as amended from time to time.
Custodian’s Sub-Agent Network. Each Fund hereby acknowledges receiving appropriate notice of Custodian’s selection of the use of those Eligible Foreign Custodians and Eligible Securities Depositories that are identified in Appendix A of this Agreement as amended from time to time.
4. ESTABLISHMENT OF ACCOUNT For each Fund, Custodian shall open and maintain a separate Account or Accounts in the name of that Fund and shall hold in such Account or Accounts, subject to the provisions hereof, all Securities received by it from or for the Account of that Fund. Custodian, in its sole discretion, may reasonably refuse to accept any property now or hereafter delivered to it for inclusion in the Account. A Fund shall be notified promptly of such refusal and any such property shall be immediately returned to that Fund. Custodian shall be under no duty to take any action hereunder on behalf of a Fund except as specifically set forth herein or as may be specifically agreed to by Custodian and that Fund in a written amendment hereto. 5.
Custodian’s Sub-Agent Network. Each Fund hereby acknowledges receiving appropriate notice of Custodian’s selection of the use of those Eligible Foreign Custodians and Eligible Securities Depositories that are identified in Appendix A of this Agreement as amended from time to time.
Custodian’s Sub-Agent Network. Trust hereby acknowledges receiving appropriate notice of Custodian's selection of the use of those Eligible Foreign Custodians and Eligible Securities Depositories that are identified in Appendix A of this Agreement.