Depositary Receipts. Only upon receipt of Proper Instructions, the Sub-Custodian shall instruct a 17f-5 Sub-Custodian appointed pursuant to Section 2.11(b) hereof or an agent of the Sub-Custodian appointed pursuant to Section 2.11(a) hereof (an "Agent") to surrender securities to the depositary used by an issuer of American Depositary Receipts or International Depositary Receipts (hereinafter collectively referred to as "ADRs") for such securities against a written receipt therefor adequately describing such securities and written evidence satisfactory to the 17f-5 Sub-Custodian or Agent that the depositary has acknowledged receipt of instructions to issue with respect to such securities ADRs in the name of the Sub-Custodian, or a nominee of the Sub-Custodian, for delivery to the Sub-Custodian in Boston, Massachusetts, or at such other place as the Sub-Custodian may from time to time designate.
Appears in 4 contracts
Samples: Custodian Agreement (Putnam Master Intermediate Income Trust), Custodian Agreement (Putnam RetirementReady Funds), Sub Custodian Agreement (Putnam Municipal Opportunities Trust)
Depositary Receipts. Only upon receipt of Proper Instructions, the Sub-Custodian shall instruct a 17f-5 Sub-Sub- Custodian appointed pursuant to Section 2.11(b) hereof or an agent of the Sub-Custodian appointed pursuant to Section 2.11(a) hereof (an "Agent") to surrender securities to the depositary used by an issuer of American Depositary Receipts or International Depositary Receipts (hereinafter collectively referred to as "ADRs") for such securities against a written receipt therefor adequately describing such securities and written evidence satisfactory to the 17f-5 Sub-Custodian or Agent that the depositary has acknowledged receipt of instructions to issue with respect to such securities ADRs in the name of the Sub-Custodian, or a nominee of the Sub-Custodian, for delivery to the Sub-Custodian in Boston, Massachusetts, or at such other place as the Sub-Custodian may from time to time designate.
Appears in 3 contracts
Samples: Sub Custodian Agreement (Putnam New York Tax Exempt Money Market Fund), Sub Custodian Agreement (Putnam Overseas Growth Fund), Sub Custodian Agreement (Putnam Tax Managed Funds Trust)