Direction of Eligible Foreign Custodians Sample Clauses

Direction of Eligible Foreign Custodians. The Fund may direct Wachovia to place and maintain Foreign Assets with a particular Eligible Foreign Custodian. In such event, Wachovia will have no duties under this Paragraph 8 with respect to such arrangement, except those included under Paragraph 8.g and those that it may undertake specifically in writing.
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Direction of Eligible Foreign Custodians. Customer may direct Wachovia to place and maintain Foreign Assets with a particular Eligible Foreign Custodian. In such event, Wachovia will have no duties under this Paragraph 8 with respect to such arrangement, except those included under Paragraph 8.g and those that it may undertake specifically in writing.
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Direction of Eligible Foreign Custodians. The Fund may direct First Union to place and maintain Foreign Assets with a particular Eligible Foreign Custodian. In such event, First Union will have no duties under this Paragraph 8 with respect to such arrangement, except those included under Paragraph 8.g and those that it may undertake specifically in writing.
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Direction of Eligible Foreign Custodians. The Fund may direct First Union ---------------------------------------- to place and maintain Foreign Assets with a particular Eligible Foreign Custodian. In such event, First Union will have no duties under this Paragraph 18 with respect to such arrangement, except those included under Paragraph 18.c (vi) and those that it may undertake specifically in writing. (i) First Union shall apply for a reduction of withholding tax and any refund of any tax paid or tax credits that apply in each market in respect of income payments on Assets for the benefit of the Fund which First Union believes may be available to the Fund. If the Fund is eligible, pursuant to applicable law or to the provisions of any tax treaty, for a reduced rate of, or exemption from, any tax which is otherwise required to be withheld or paid on behalf of the Fund under any applicable law, First Union shall, or shall instruct the applicable Eligible Foreign Custodian or withholding agent to, either withhold or pay such tax at such reduced rate or refrain from withholding or paying such tax, as appropriate. In the event that a reduced rate of, or exemption from, any tax is obtainable only by means of an application for refund, First Union shall, or shall instruct the applicable Eligible Foreign Custodian or withholding agent to, apply for such refund. The provision of tax services is conditional upon the Fund's provision to First Union of all documentary evidence as First Union shall reasonably require in connection with taxation, and the Fund warrants that when given, this information shall be true and correct in every material respect. The Fund undertakes to notify First Union immediately if any such information requires updating or amendment. (ii) First Union and the applicable Eligible Foreign Custodian shall have no responsibility for the accuracy or validity of any forms or documentation the Fund provides to First Union hereunder, and the Fund hereby indemnifies and agrees to hold harmless First Union and each Eligible Foreign Custodian in respect of any liability arising from any underwithholding or underpayment of any tax which results from the inaccuracy or invalidity of any such forms or other documentation. (iii) First Union and the applicable Eligible Foreign Custodian shall not be liable to the Fund or any third party for any taxes, fines or penalties payable by the Fund or First Union, and shall be indemnified accordingly, whether these result form the Fund's or any third party'...
Sample 1
Direction of Eligible Foreign Custodians. The Fund may direct First Union to place and maintain Foreign Assets with a particular Eligible Foreign Custodian. In such event, First Union will have no duties under this Paragraph 35 with respect to such arrangement, except those included under Paragraph 35.c (vi) and those that it may undertake specifically in writing.
Sample 1

Related to Direction of Eligible Foreign Custodians

  • SELECTION OF ELIGIBLE FOREIGN CUSTODIANS Subject to the provisions of this Section 3.2, the Foreign Custody Manager may place and maintain the Foreign Assets in the care of the Eligible Foreign Custodian selected by the Foreign Custody Manager in each country listed on Schedule A, as amended from time to time. In performing its delegated responsibilities as Foreign Custody Manager to place or maintain Foreign Assets with an Eligible Foreign Custodian, the Foreign Custody Manager shall determine that the Foreign Assets will be subject to reasonable care, based on the standards applicable to custodians in the country in which the Foreign Assets will be held by that Eligible Foreign Custodian, after considering all factors relevant to the safekeeping of such assets, including, without limitation the factors specified in Rule 17f-5(c)(1).

  • Selection of Eligible Foreign Custodian The Delegate shall place and maintain the Fund's Assets with an Eligible Foreign Custodian, provided that the Delegate shall have determined that the Fund's Assets will be subject to reasonable care based on the standards applicable to custodians in the relevant market after considering factors relevant to the safekeeping of such assets including without limitation: (i) The Eligible Foreign Custodian's practices, procedures, and internal controls, including, but not limited to, the physical protections available for certificated securities (if applicable), the controls and procedures for dealing with any Securities Depository, the method of keeping custodial records, and the security and data protection practices; (ii) Whether the Eligible Foreign Custodian has the requisite financial strength to provide reasonable care for the Fund's Assets; (iii) The Eligible Foreign Custodian's general reputation and standing; and (iv) Whether the Fund will have jurisdiction over and be able to enforce judgments against the Eligible Foreign Custodian, such as by virtue of the existence of any offices of such Eligible Foreign Custodian in the United States or such Eligible Foreign Custodian's appointment of an agent for service of process in the United States or consent to jurisdiction in the United States. The Delegate shall be required to make the foregoing determination to the best of its knowledge and belief based only on information reasonably available to it.

  • Direction as to Eligible Foreign Custodian Notwithstanding this Delegation Schedule, the Fund, acting through its Board, its Investment Advisor or its other Authorized Representative, may direct the Delegate to place and maintain the Fund's Assets with a particular Eligible Foreign Custodian, including without limitation with respect to investment in countries as to which the Custodian will not provide delegation services. In such event, the Delegate shall be entitled to rely on any such instruction as an Instruction under the terms of the Custodian Agreement and shall have no duties under this Delegation Schedule with respect to such arrangement save those that it may undertake specifically in writing with respect to each particular instance.

  • Selection of Eligible Foreign Custodian and Contract Administration The Delegate shall perform the following duties with respect to the selection of Eligible Foreign Custodians and administration of certain contracts governing the Fund's foreign custodial arrangements:

  • CONTRACTS WITH ELIGIBLE FOREIGN CUSTODIANS The Foreign Custody Manager shall determine that the contract governing the foreign custody arrangements with each Eligible Foreign Custodian selected by the Foreign Custody Manager will satisfy the requirements of Rule 17f-5(c)(2).

  • BNY AS A FOREIGN CUSTODY MANAGER 1. The Funds on behalf of its Board hereby delegate to BNY with respect to each Specified Country the Responsibilities. 2. BNY accepts the Board’s delegation of Responsibilities with respect to each Specified Country and agrees in performing the Responsibilities as a Foreign Custody Manager to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of the Funds’ assets would exercise. 3. BNY shall provide to the Board at such times as the Board deems reasonable and appropriate based on the circumstances of the Funds’ foreign custody arrangements written reports notifying the Board of the placement of assets of the Funds with a particular Eligible Foreign Custodian within a Specified Country and of any material change in the arrangements (including the contract governing such arrangements) with respect to assets of the Funds with any such Eligible Foreign Custodian.

  • STANDARD OF CARE AS FOREIGN CUSTODY MANAGER OF A PORTFOLIO In performing the responsibilities delegated to it, the Foreign Custody Manager agrees to exercise reasonable care, prudence and diligence such as a person having responsibility for the safekeeping of assets of management investment companies registered under the 1940 Act would exercise.

  • LIABILITY ON FOREIGN ACCOUNTS State Street shall not be required to repay any deposit made at a non-U.S. branch of State Street, or any deposit made with State Street and denominated in a non-U.S. dollar currency, if repayment of such deposit or the use of assets denominated in the non-U.S. dollar currency is prevented, prohibited or otherwise blocked due to: (a) an act of war, insurrection or civil strife; (b) any action by a non-U.S. government or instrumentality or authority asserting governmental, military or police power of any kind, whether such authority be recognized as a defacto or a dejure government, or by any entity, political or revolutionary movement or otherwise that usurps, supervenes or otherwise materially impairs the normal operation of civil authority; or(c) the closure of a non-U.S. branch of State Street in order to prevent, in the reasonable judgment of State Street, harm to the employees or property of State Street. The obligation to repay any such deposit shall not be transferred to and may not be enforced against any other branch of State Street. The foregoing provisions constitute the disclosure required by Massachusetts General Laws, Chapter 167D, Section 36. While State Street is not obligated to repay any deposit made at a non-U.S. branch or any deposit denominated in a non-U.S. currency during the period in which its repayment has been prevented, prohibited or otherwise blocked, State Street will repay such deposit when and if all circumstances preventing, prohibiting or otherwise blocking repayment cease to exist.

  • Custodian or Foreign Securities System The Custodian may hold foreign securities for all of its customers, including the Portfolios, with any Foreign Sub-Custodian in an account that is identified as belonging to the Custodian for the benefit of its customers, provided however, that (i) the records of the Custodian with respect to foreign securities of the Portfolios which are maintained in such account shall identify those securities as belonging to the Portfolios and (ii), to the extent permitted and customary in the market in which the account is maintained, the Custodian shall require that securities so held by the Foreign Sub-Custodian be held separately from any assets of such Foreign Sub-Custodian or of other customers of such Foreign Sub-Custodian.

  • Determination of Eligibility The Plan Administrator shall determine the eligibility of each Employee for participation in the Plan based upon information provided by the Employer. Such determination shall be conclusive and binding on all individuals except as otherwise provided herein or by operation of law.

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