Discretionary Actions by Trustee; Consultation. (a) The Trustee may, in its discretion, undertake any action which it may deem necessary or desirable to protect the rights of the Registered Owners. The expenses incurred by the Trustee in connection with taking any action under the preceding sentence (including the fees and disbursements of legal counsel) shall be expenses of the Trust, and the Trustee shall be entitled to be promptly reimbursed for those expenses by the Trust. (b) The Trustee shall notify and consult with the Sponsor before undertaking any action under subsection (a) above or 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.
Appears in 15 contracts
Samples: Depositary Trust Agreement, Depositary Trust Agreement (Currencyshares Swiss Franc Trust), Depositary Trust Agreement (Currencyshares Canadian Dollar Trust)
Discretionary Actions by Trustee; Consultation. (a) The Trustee may, in its discretion, undertake any action which it may deem necessary or desirable to protect the rights of the Registered Owners. The expenses incurred by the Trustee in connection with taking any action under the preceding sentence (including the fees and disbursements of legal counsel) shall be expenses of the Trust, and the Trustee shall be entitled to be promptly reimbursed for those expenses by the Trust.
(b) The Trustee shall notify and consult with the Sponsor before undertaking any action under subsection (a) above or 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.. 38
Appears in 4 contracts
Samples: Depositary Trust Agreement (Currencyshares Mexican Peso Trust), Depositary Trust Agreement (Currencyshares Canadian Dollar Trust), Depositary Trust Agreement (Currencyshares British Pound Sterling Trust)
Discretionary Actions by Trustee; Consultation. (a) The Trustee may, in its discretion, undertake any action which that it may deem considers necessary or desirable to protect the rights Trust or the interests of the Registered Owners. The expenses incurred by the Trustee in connection with taking any action under the preceding sentence (including the fees and disbursements of legal counsel) shall be expenses of the Trust, and the Trustee shall be entitled to be promptly reimbursed for those expenses by the Trust.
(b) The Trustee shall notify and consult with the Sponsor before undertaking any action under subsection (a) above or 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.
Appears in 3 contracts
Samples: Depositary Trust Agreement (Euro Currency Trust), Depositary Trust Agreement (Euro Currency Trust), Trust Agreement (Euro Currency Trust)
