Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions: (1) The Custodian may keep securities of the Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers; (2) The records of the Custodian with respect to securities of the Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the Fund; (3) The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Fund. (4) The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System; (5) The Custodian shall have received the initial certificate, required by Section 9 hereof; (6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage. (7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 8 contracts
Samples: Custodian Contract (NBT Investment Co Inc), Custodian Contract (Cathay Securities Fund Inc), Custodian Contract (ZFNB Asset Fund Inc)
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund Funds in a clearing agency registered with the Securities and Exchange Commission ("“SEC"”) under Section 17A or any successor provision of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively each referred to herein as "“Securities System", ,” in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the each Fund in a Securities System provided that such securities are represented in an account ("“Account"”) of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Funds which are maintained in a Securities System shall identify by book-entry those securities belonging to the each Fund;
(3) The Custodian shall pay for securities purchased for the account of the each Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the a Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Trust at its request. Upon request, the Custodian shall furnish the Fund Trust confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Trust copies of daily transaction sheets reflecting each day's ’s transactions in the Securities System for the account of the a Fund.;
(4) The Custodian shall provide the Fund Trust with any report obtained by the Custodian on the Securities System's ’s accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract Agreement notwithstanding, the Custodian shall be liable to the Fund Trust for any actual loss or damage (but not any consequential or punitive damages) to the a Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the FundTrust, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the a Fund has not been made whole for any such loss or damage.; and
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 2 contracts
Samples: Custodian Agreement (Huntington Funds), Custodian Agreement (Huntington Funds)
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund Funds in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", " in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the each Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Funds which are maintained in a Securities System shall identify by book-entry those securities belonging to the each Fund;
(3) The Custodian shall pay for securities purchased for the account of the each Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the a Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Trust at its request. Upon request, the Custodian shall furnish the Fund Trust confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Trust copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the a Fund.
(4) The Custodian shall provide the Fund Trust with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund Trust for any loss or damage to the a Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the FundTrust, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the a Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 2 contracts
Samples: Custodian Contract (Regions Morgan Keegan Select Funds), Custodian Contract (WCT Funds)
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "U.S. Securities System", Systems" in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund in a U.S. Securities System provided that such securities are represented in an account ("Account") of the Custodian in the U.S. Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund which are maintained in a U.S. Securities System shall identify by book-entry those securities belonging to the Fund;
(3) The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the U.S. Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the U.S. Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the U.S. Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the U.S. Securities System for the account of the Fund.;
(4) The Custodian shall provide the Fund with any report obtained by the Custodian on the U.S. Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the U.S. Securities System;
(5) The Custodian shall have received from the Fund the initial certificate, certificate required by Section 9 Article 15 hereof;; and
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the U.S. Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the U.S. Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the U.S. Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage. The Custodian agrees to cooperate with Fund in connection with the enforcement of the Fund's subrogation rights.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Securities Exchange ActAct of 1934, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", " in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the Fund;
(3) The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's day s transactions in the Securities System for the account of the Fund.
(4) The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's System s accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial or annual certificate, as the case may be, required by Section Article 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Samples: Custodian Contract (Blackrock New York Insured Muncipal 2008 Term Trust Inc)
Deposit of Fund Assets in Securities System. The Custodian may deposit ------------------------------------------- and/or maintain securities owned by the Fund Funds in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A or any successor provision of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively each referred to herein as "Securities System", ," in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the each Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Funds which are maintained in a Securities System shall identify by book-entry those securities belonging to the each Fund;
(3) The Custodian shall pay for securities purchased for the account of the each Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the a Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Trust at its request. Upon request, the Custodian shall furnish the Fund Trust confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Trust copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the a Fund.;
(4) The Custodian shall provide the Fund Trust with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract Agreement notwithstanding, the Custodian shall be liable to the Fund Trust for any loss or damage to the a Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the FundTrust, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the a Fund has not been made whole for any such loss or damage.; and
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund Funds in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A or any successor provision of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively each referred to herein as "Securities System", ," in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the each Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Funds which are maintained in a Securities System shall identify by book-entry those securities belonging to the each Fund;
(3) The Custodian shall pay for securities purchased for the account of the each Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the a Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Trust at its request. Upon request, the Custodian shall furnish the Fund Trust confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Trust copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the a Fund.;
(4) The Custodian shall provide the Fund Trust with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract Agreement notwithstanding, the Custodian shall be liable to the Fund Trust for any loss or damage to the a Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the FundTrust, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the a Fund has not been made whole for any such loss or damage.; and
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund Funds in a clearing agency registered with the Securities and Exchange Commission ("“SEC"”) under Section 17A of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "“Securities System", ” in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the each Fund in a Securities System provided that such securities are represented in an account ("“Account"”) of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Funds which are maintained in a Securities System shall identify by book-entry those securities belonging to the each Fund;
(3) The Custodian shall pay for securities purchased for the account of the each Fund upon (i) receipt of if advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the a Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Trust at its request. Upon request, the Custodian shall furnish the Fund Trust confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Trust copies of daily transaction sheets reflecting each day's ’s transactions in the Securities System for the account of the a Fund.;
(4) The Custodian shall provide the Fund Trust with any report obtained by the Custodian on the Securities System's ’s accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund Trust for any loss or damage to the a Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the FundTrust, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the a Fund has not been made whole for any such loss or damage.;
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission (the "SEC") under Section 17A of the Securities Exchange ActAct of 1934, which acts as a securities depository, or in the book-book- entry system authorized by the U.S. Department of the Treasury and certain federal agencies, agencies (collectively referred to herein as a "Securities System", ) in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions:
(1) . The Custodian may keep securities of the Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian custodian, or otherwise for customers;
(2) . The records of the Custodian with respect to securities of the Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the Fund;
(3) . The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an any entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the The Custodian shall furnish the Fund confirmation of a monthly account statement which shall include each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in Fund, including those processed through the Securities System for the account of the Fund.;
(4) . The Custodian shall have received the certificate required by Article IX hereof; and
5. The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;; and
(5) 6. The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any direct loss or damage to the Fund resulting from use of the Securities System to the extent caused by reason of any the negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of employees. In no event shall the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole liable for any such loss indirect, special, consequential or damagepunitive damages.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit ------------------------------------------- and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Securities Exchange ActAct of 1934, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", " in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the Fund;
(3) The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Fund.
(4) The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial or annual certificate, as the case may be, required by Section Article 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Samples: Custodian Contract (Painewebber Financial Services Growth Fund Inc)
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Securities Exchange ActAct of 1934, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", " in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the Fund;
(3) The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account Account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Fund.
(4) The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial or annual certificate, as the case may be, required by Section Article 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Samples: Custodian Agreement (Painewebber Rma Tax Free Fund Inc)
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Securities Exchange ActAct of 1934, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", " in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the Fund;
(3) The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Fund.
(4) The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial or annual certificate, as the case may be, required by Section Article 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Samples: Custodian Agreement (Painewebber Managed Municipal Trust /Ny/)
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund a Portfolio in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Securities Exchange ActAct of 1934, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "U.S. Securities System", Systems" in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund Portfolio in a U.S. Securities System provided that such securities are represented in an account ("Account") of the Custodian in the U.S. Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Portfolio which are maintained in a U.S. Securities System shall identify by book-entry those securities belonging to the FundPortfolio;
(3) The Custodian shall pay for securities purchased for the account of the Fund Portfolio upon (i) receipt of advice from the U.S. Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the FundPortfolio. The Custodian shall transfer securities sold for the account of the Fund Portfolio upon (i) receipt of advice from the U.S. Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the FundPortfolio. Copies of all advices from the U.S. Securities System of transfers of securities for the account of the Fund Portfolio shall identify the FundPortfolio, be maintained for the Fund Portfolio by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund on behalf of the Portfolio confirmation of each transfer to or from the account of the Fund Portfolio in the form of a written advice or notice and shall furnish to the Fund on behalf of the Portfolio copies of daily transaction sheets reflecting each day's transactions in the U.S. Securities System for the account of the Fund.Portfolio;
(4) The Custodian shall provide the Fund for the Portfolio with any report obtained by the Custodian on the U.S. Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the U.S. Securities System;
(5) The Custodian shall have received from the Fund on behalf of the Portfolio the initial certificate, certificate required by Section 9 Article 16 hereof;; and
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for the benefit of the Portfolio for any loss or damage to the Fund Portfolio resulting from use of the U.S. Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the U.S. Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the U.S. Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund Portfolio has not been made whole for any such loss or damage. The Custodian agrees to cooperate with Fund in connection with the enforcement of the Fund's subrogation rights.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Samples: Custodian Contract (Painewebber Pace Select Advisors Trust)
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund Funds in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A or any successor provision of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively each referred to herein as "Securities System", ," in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the each Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Funds which are maintained in a Securities System shall identify by book-entry those securities belonging to the each Fund;
(3) The Custodian shall pay for securities purchased for the account of the each Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the a Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Trust at its request. Upon request, the Custodian shall furnish the Fund Trust confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Trust copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the a Fund.;
(4) The Custodian shall provide the Fund Trust with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract Agreement notwithstanding, the Custodian shall be liable to the Fund Trust for any loss or damage to the a Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the FundTrust, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the a Fund has not been made whole for any such loss or damage.; and
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian (including any sub-custodian appointed under Section 1) may deposit and/or maintain securities owned by the Fund Funds in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as a "Securities System", in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the each Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Funds which are maintained in a Securities System shall identify by book-book- entry those securities belonging to the each Fund;
(3) The Custodian shall pay for securities purchased for the account of the each Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the a Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Corporation at its request. Upon request, the Custodian shall furnish the Fund Corporation confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Corporation copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the a Fund.
(4) The Custodian shall provide the Fund Corporation with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund Corporation for any loss or damage to the a Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the FundCorporation, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the a Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain domestic securities owned by the any Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Exchange Act, which acts as a securities depository, or in a Federal Reserve Bank, as Custodian may select, and to permit such deposited Assets to be registered in the book-entry system authorized by name of Custodian or Custodian's agent or nominee on the U.S. Department records of such Federal Reserve Bank or such registered clearing agency or the Treasury and certain federal agencies, nominee of either (collectively referred to herein as "Securities System", ) in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep domestic securities of the a Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to domestic securities of the a Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the such Fund;
(3) The Custodian shall pay for domestic securities purchased for the account of the a Fund upon (i) the simultaneous receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer domestic securities sold for the account of the a Fund upon (i) the simultaneous receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Fund.
(4) The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.and
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain domestic securities owned by the any Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Exchange Act, which acts as a securities depository, or in a Federal Reserve Bank, as Custodian may select, and to permit such deposited Assets to be registered in the book-entry system authorized by name of Custodian or Custodian's agent or nominee on the U.S. Department records of such Federal Reserve Bank or such registered clearing agency or the Treasury and certain federal agencies, nominee of either (collectively referred to herein as "Securities System", ) in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep domestic securities of the a Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to domestic securities of the a Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the such Fund;
(3) The Custodian shall pay for domestic securities purchased for the account of the a Fund upon (i) the simultaneous receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer domestic securities sold for the account of the a Fund upon (i) the simultaneous receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices advises from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Company at its request. Upon request, the Custodian shall furnish the Fund Company confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Company copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the each Fund.
(4) The Custodian shall provide the Fund Company with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial or annual certificate, as the case may be, required by Section 9 Article 16 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund Company (for the account of each Fund) for any loss or damage to the Fund applicable Fund(s) resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent or employee to enforce effectively such rights as it may have against the Securities System; at the election of the FundCompany, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has applicable Funds have not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian (including any sub-custodian appointed under Section 1) may deposit and/or maintain securities owned by the Fund Funds in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as a "Securities System", in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
: (1) The Custodian may keep securities of the each Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
; (2) The records of the Custodian with respect to securities of the Fund Funds which are maintained in a Securities System shall identify by book-book- entry those securities belonging to the each Fund;
(3) The Custodian shall pay for securities purchased for the account of the each Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the a Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Corporation at its request. Upon request, the Custodian shall furnish the Fund Corporation confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Corporation copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the a Fund.
(4) The Custodian shall provide the Fund Corporation with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
; (5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
; (6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund Corporation for any loss or damage to the a Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the FundCorporation, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the a Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Securities Exchange ActAct of 1934, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", " in accordance with applicable Federal Reserve Board and SEC Securities Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the Fund;
(3) The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Fund.
(4) The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial or annual certificate, as the case may be, required by Section Article 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission ("“SEC"”) under Section 17A of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "“Securities System"”, in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund in a Securities System provided that such securities are represented in an account ("“Account"”) of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the Fund;
(3) The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's ’s transactions in the Securities System for the account of the Fund.
(4) The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's ’s accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund a Portfolio in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Securities Exchange ActAct of 1934, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", " in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund Portfolio in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Portfolio which are maintained in a Securities System shall identify by book-entry those securities belonging to the FundPortfolio;
(3) The Custodian shall pay for securities purchased for the account of the Fund Portfolio upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the FundPortfolio. The Custodian shall transfer securities sold for the account of the Fund Portfolio upon (i) receipt of advice from the Securities System that payment for of such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the FundPortfolio. Copies of all advices from the Securities System of transfers of securities for the account of the Fund Portfolio shall identify the FundPortfolio, be maintained for the Fund Portfolio by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund on behalf of the Portfolio confirmation of each transfer to or from the account of the Fund Portfolio in the form of a written advice or notice and shall furnish to the Fund on behalf of the Portfolio copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the FundPortfolio.
(4) The Custodian shall provide the Fund for the Portfolio with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received from the Fund on behalf of the Portfolio the initial or annual certificate, as the case may be, required by Section Article 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for the benefit of the Portfolio for any loss or damage to the Fund Portfolio resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund Portfolio has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Samples: Custodian Contract (Acm Institutional Reserves Inc)
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Securities Exchange ActAct of 1934, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", " in accordance with applicable Federal Reserve Board and SEC Securities and Exchange Commission rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include Include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;:
(2) The records of the Custodian with respect to securities of the Fund which are maintained in a Securities System shall identify by book-entry those securities belonging to the Fund;
(3) The Custodian shall pay for securities purchased for the account of the Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund at its request. Upon request, the Custodian shall furnish the Fund confirmation of each transfer to or from the account of the Fund in the form of a written advice or notice and shall furnish to the Fund copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the Fund.
(4) The Custodian shall provide the Fund with any report obtained by the Custodian on the Securities System's accounting system, internal Internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial or annual certificate, as the case may be, required by Section Article 9 hereof;
(6) Anything to the contrary in this Contract notwithstanding, the Custodian shall be liable to the Fund for any loss or damage to the Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the Fund, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Deposit of Fund Assets in Securities System. The Custodian may deposit and/or maintain securities owned by the Fund Funds in a clearing agency registered with the Securities and Exchange Commission ("SEC") under Section 17A of the Exchange Act, which acts as a securities depository, or in the book-entry system authorized by the U.S. Department of the Treasury and certain federal agencies, collectively referred to herein as "Securities System", " in accordance with applicable Federal Reserve Board and SEC rules and regulations, if any, and subject to the following provisions:
(1) The Custodian may keep securities of the each Fund in a Securities System provided that such securities are represented in an account ("Account") of the Custodian in the Securities System which shall not include any assets of the Custodian other than assets held as a fiduciary, custodian or otherwise for customers;
(2) The records of the Custodian with respect to securities of the Fund Funds which are maintained in a Securities System shall identify by book-entry those securities belonging to the each Fund;
(3) The Custodian shall pay for securities purchased for the account of the each Fund upon (i) receipt of advice from the Securities System that such securities have been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such payment and transfer for the account of the Fund. The Custodian shall transfer securities sold for the account of the a Fund upon (i) receipt of advice from the Securities System that payment for such securities has been transferred to the Account, and (ii) the making of an entry on the records of the Custodian to reflect such transfer and payment for the account of the Fund. Copies of all advices from the Securities System of transfers of securities for the account of the a Fund shall identify the Fund, be maintained for the Fund by the Custodian and be provided to the Fund Trust at its request. Upon request, the Custodian shall furnish the Fund Trust confirmation of each transfer to or from the account of the a Fund in the form of a written advice or notice and shall furnish to the Fund Trust copies of daily transaction sheets reflecting each day's transactions in the Securities System for the account of the a Fund.
(4) The Custodian shall provide the Fund Trust with any report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System;
(5) The Custodian shall have received the initial certificate, required by Section 9 hereof;
(6) Anything to the contrary in this Contract Agreement notwithstanding, the Custodian shall be liable to the Fund Trust for any loss or damage to the a Fund resulting from use of the Securities System by reason of any negligence, misfeasance or misconduct of the Custodian or any of its agents or of any of its or their employees or from failure of the Custodian or any such agent to enforce effectively such rights as it may have against the Securities System; at the election of the FundTrust, it shall be entitled to be subrogated to the rights of the Custodian with respect to any claim against the Securities System or any other person which the Custodian may have as a consequence of any such loss or damage if and to the extent that the a Fund has not been made whole for any such loss or damage.
(7) The authorization contained in this Section 2.12 shall not relieve the Custodian from using reasonable care and diligence in making use of any Securities System.
Appears in 1 contract
Samples: Custodian Agreement (Regions Morgan Keegan Select Funds)
