Custody Responsibilities. The Manager shall identify to the Sub-Adviser one or more custodians (the "Custodian") to hold the assets of the Fund. The Custodian, as identified by the Manager, will be responsible for the custody, receipt and delivery of securities and other assets of the Fund, and the Sub-Sub-Adviser shall have no authority, responsibility or obligation with respect to the custody, receipt or delivery of securities or other assets of the Fund. In the event that any cash, securities or other assets of the Fund are delivered to the Sub-Sub-Adviser, it will promptly deliver the same over to the Custodian, in the name of the Fund, as permitted by applicable law. The Manager or the Fund shall be responsible for all custodial arrangements, including the payment of all fees and charges to Custodian. The Sub-Sub-Adviser shall not be responsible or liable for any act or omission of Custodian. Unless otherwise required by local custom, all portfolio transactions for the Fund will be consummated by payment to or delivery by the Fund of cash, securities or other assets due to or from the Fund. The Sub-Sub-Adviser will make all reasonable efforts to notify the Custodian of all orders to brokers, dealers or other market intermediaries for the Account by 9:00 a.m. Eastern Time on the day following the trade date and will affirm the trade before the close of business one (1) business day after the trade date (T+1).
Appears in 6 contracts
Samples: Investment Sub Sub Advisory Agreement (First Trust Exchange-Traded Fund Iv), Investment Sub Sub Advisory Agreement (First Trust Exchange-Traded Fund Iv), Investment Sub Sub Advisory Agreement (First Trust Exchange-Traded Fund Iv)
Custody Responsibilities. The Manager shall identify to the Sub-Adviser one or more custodians (the "Custodian") to hold the assets of the Fund. The Custodian, as identified by the Manager, will be responsible for the custody, receipt and delivery of securities and other assets of the Fund, and the Sub-Sub-Adviser shall have no authority, responsibility or obligation with respect to the custody, receipt or delivery of securities or other assets of the Fund. In the event that any cash, securities or other assets of the Fund are delivered to the Sub-Sub-Adviser, it will promptly deliver the same over to the Custodian, in the name of the Fund, as permitted by applicable law. The Manager or the Fund shall be responsible for all custodial arrangements, including the payment of all fees and charges to Custodian. The Sub-Sub-Adviser shall not be responsible or liable for any act or omission of Custodian. Unless otherwise required by local custom, all portfolio transactions for the Fund will be consummated by payment to or delivery by the Fund of cash, securities or other assets due to or from the Fund. The Sub-Sub-Adviser will make all reasonable efforts to notify the Custodian of all orders to brokers, dealers or other market intermediaries for the Account by 9:00 a.m. Eastern Time on the day following the trade date and will affirm the trade before the close of business one (1) business day after the trade date (T+1).
Appears in 3 contracts
Samples: Investment Sub Advisory Agreement (First Trust Exchange-Traded Fund Iv), Investment Sub Advisory Agreement (First Trust Exchange-Traded Fund Iv), Investment Sub Advisory Agreement (First Trust Exchange-Traded Fund Iv)
