Discretionary Actions by Trustee; Consultation. (a) The Trustee shall notify and consult with the Initial Depositor and the Underwriter before undertaking any action if the Trustee becomes aware of any development or event that affects the administration of the Trust but is not contemplated or provided for in this Agreement. The Trustee may consult with the Initial Depositor and the Underwriter before taking or refraining from taking any action hereunder and shall be conclusively protected in relying upon or complying with any instructions received from the Initial Depositor and the Underwriter as to what action to take or refrain from taking.
Appears in 6 contracts
Samples: Depositary Trust Agreement (Bank of Montreal /Can/), Depositary Trust Agreement (Vaulted Gold Bullion Trust), Depositary Trust Agreement (Bank of Montreal /Can/)
Discretionary Actions by Trustee; Consultation. (a) The Trustee shall notify and consult with the Initial Depositor and the Underwriter Placement Agent before undertaking any action if the Trustee becomes aware of any development or event that affects the administration of the Trust but is not contemplated or provided for in this Agreement. The Trustee may consult with the Initial Depositor and the Underwriter Placement Agent before taking or refraining from taking any action hereunder and shall be conclusively protected in relying upon or complying with any instructions received from the Initial Depositor and the Underwriter Placement Agent as to what action to take or refrain from taking.
Appears in 3 contracts
Samples: Depositary Trust Agreement (Bank of Montreal /Can/), Depositary Trust Agreement (Bank of Montreal /Can/), Trust Agreement (Bank of Montreal /Can/)
Discretionary Actions by Trustee; Consultation. (a) The Trustee shall notify and consult with the Initial Depositor and the Underwriter before undertaking any action if the Trustee becomes aware of any development or event that affects the administration of the Trust but is not contemplated or provided for in this Agreement. The Trustee may consult with the Initial Depositor and the Underwriter before taking or refraining from taking any action hereunder and shall be conclusively protected in relying upon or complying with any instructions received from the Initial Depositor and the Underwriter as to what action to take or refrain from taking.. Section 5.13
Appears in 2 contracts
Samples: Depositary Trust Agreement, Depositary Trust Agreement
