Common use of Custody Services Clause in Contracts

Custody Services. Whenever Southwest has been instructed to act as custodian of the securities in any Correspondent or Customer Account, or to hold such securities in "safekeeping," Southwest may hold the securities in the Customer's name or may cause such securities to be registered in the name of Southwest or its nominee or in the names of nominees of any depository used by Southwest. Southwest will perform the services required in connection with acting as custodian for securities in Correspondent and Customer accounts, such as (i) collection and payment of dividends; (ii) transmittal and handling (through Correspondent) of tenders or exchanges pursuant to tender offers and exchange offers; (iii) transmittal of proxy materials and other shareholder communications; and (iv) handling of exercises or expirations of rights and warrants, and of redemptions of securities.