Custody of Assets. The Fund’s assets shall be held by a custodian or trustee which shall be a bank or trust company. The Fund shall, upon the resignation of, or a determination of the inability of such custodian or trustee, to serve of the custodian or trustee, (1) use its best efforts to obtain a successor custodian or trustee, and (2) require that the cash and securities owned by the Fund be delivered to the successor custodian or trustee.
Appears in 6 contracts
Samples: JNL Variable Fund LLC, Operating Agreement (JNL Variable Fund LLC), Operating Agreement (JNL Strategic Income Fund LLC)
Custody of Assets. The Fund’s 's assets shall be held by a custodian or trustee which shall be a bank or trust company. The Fund shall, upon the resignation of, or a determination of the inability of such custodian or trustee, to serve of the custodian or trustee, (1) use its best efforts to obtain a successor custodian or trustee, and (2) require that the cash and securities owned by the Fund be delivered to the successor custodian or trustee.
Appears in 3 contracts
Samples: Operating Agreement (JNL Variable Fund LLC), Operating Agreement (JNL Variable Fund LLC), JNL Strategic Income Fund LLC
