Common use of Failure to Designate Successor Custodian Clause in Contracts

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Appears in 96 contracts

Samples: Custody Agreement (Unified Series Trust), Custody Agreement (American Pension Investors Trust), Custody Agreement (Capitol Series Trust)

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Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustCompany, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Company shall, upon the delivery by the Custodian to the Trust Company of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustCompany) and moneys then owned by the TrustCompany, be deemed to be the custodian for the TrustCompany, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the TrustCompany, which shall be held by the Custodian in accordance with this Agreement.

Appears in 19 contracts

Samples: Custody Agreement (MSS Series Trust), Custody Agreement (Capitol Series Trust), Custody Agreement (MSS Series Trust)

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, Corporation ,or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Corporation shall, upon the delivery by the Custodian to the Trust Corporation of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustCorporation) and moneys then owned by the Trust, Corporation ,be deemed to be the custodian for the Trust, Corporation ,and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, Corporation ,which shall be held by the Custodian in accordance with this Agreement.

Appears in 17 contracts

Samples: Custody Agreement (Mh Elite Portfolio of Funds Trust), Custody Agreement (Mh Elite Portfolio of Funds Trust), Custody Agreement

Failure to Designate Successor Custodian. If a successor custodian is not designated designate -23- by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Appears in 3 contracts

Samples: Custody Agreement (Aviemore Funds), Custody Agreement (Sycuan Funds), Custody Agreement (Mundoval Funds)

Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustCorporation, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Corporation shall, upon the delivery by the Custodian to the Trust Corporation of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustCorporation) and moneys then owned by the TrustCorporation, be deemed to be the custodian for the TrustCorporation, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the TrustCorporation, which shall be held by the Custodian in accordance with this Agreement.

Appears in 3 contracts

Samples: Custody Agreement, Custody Agreement (Spirit of America Investment Fund Inc), Custody Agreement (Fleming Capital Mutual Fund Group Inc)

Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustCompany, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Company shall, upon the delivery by the Custodian to the Trust Company of all Securities (other than Securities held in the Book-Entry Book‑Entry System which cannot be delivered to the TrustCompany) and moneys then owned by the TrustCompany, be deemed to be the custodian for the TrustCompany, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry Book‑Entry System, which cannot be delivered to the TrustCompany, which shall be held by the Custodian in accordance with this Agreement.

Appears in 2 contracts

Samples: Form of Custody Agreement (Peachtree Alternative Strategies Fund), Custody Agreement (Peachtree Alternative Strategies Fund)

Failure to Designate Successor Custodian. If a successor ---------------------------------------- custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Appears in 2 contracts

Samples: Custody Agreement (Runkel Funds), Custody Agreement (Alpha Analytics Investment Trust)

Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustFund, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust Fund shall, upon the delivery by the Custodian to the Trust Fund of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustFund) and moneys then owned by the TrustFund, be deemed to be the custodian for the TrustFund, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the TrustFund, which shall be held by the Custodian in accordance with this Agreement.

Appears in 2 contracts

Samples: Form Of:  custody Agreement (Z Seven Fund Inc), Custody Agreement (Bread & Butter Fund Inc.)

Failure to Designate Successor Custodian. If a successor ----------------------------------------- custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Appears in 2 contracts

Samples: Custody Agreement (Tanaka Funds Inc), Custody Agreement (Access Variable Insurance Trust)

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.. ARTICLE X

Appears in 1 contract

Samples: Custody Agreement (Ameriprime Insurance Trust)

Failure to Designate Successor Custodian. If a successor ------------------------------------------ custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Appears in 1 contract

Samples: Agreement (Wallace Funds)

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Failure to Designate Successor Custodian. If a successor custodian is not designated designate by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Presidio Funds)

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities (other than Securities held in the Book-Entry Book‑Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry Book‑Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Pennsylvania Avenue Funds)

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, Corporation ,or by the Custodian in accordance with the preceding paragraph, or the Exhibit 99.g designated successor cannot or will not serve, the Trust Corporation shall, upon the delivery by the Custodian to the Trust Corporation of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustCorporation) and moneys then owned by the Trust, Corporation ,be deemed to be the custodian for the Trust, Corporation ,and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, Corporation ,which shall be held by the Custodian in accordance with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Mh Elite Portfolio of Funds Trust)

Failure to Designate Successor Custodian. If a successor custodian is not designated by the TrustCorporation, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serveserve as such, the Trust Corporation shall, upon the delivery by the Custodian to the Trust Corporation of all Securities (other than Securities held in the Book-Entry System which cannot be delivered to the TrustCorporation) and moneys then owned by the TrustCorporation, be deemed to be the custodian for the TrustCorporation, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities held in the Book-Entry System, which cannot be delivered to the TrustCorporation, which shall be held by the Custodian in accordance with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Our Street Funds, Inc.)

Failure to Designate Successor Custodian. If a successor custodian is not designated notdesignated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor designatedsuccessor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities allSecurities (other than Securities held in the Book-Entry System which cannot be delivered to the Trust) and moneys andmoneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby shallthereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect withrespect to Securities held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held beheld by the Custodian in accordance with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (PSG Capital Management Trust)

Failure to Designate Successor Custodian. If a successor custodian is not designated by the Trust, or by the Custodian in accordance with the preceding paragraph, or the designated successor cannot or will not serve, the Trust shall, upon the delivery by the Custodian to the Trust of all Securities Investments (other than Securities Investments held in the Book-Entry System which cannot be delivered to the Trust) and moneys then owned by the Trust, be deemed to be the custodian for the Trust, and the Custodian shall thereby be relieved of all duties and responsibilities pursuant to this Agreement, other than the duty with respect to Securities Investments held in the Book-Entry System, which cannot be delivered to the Trust, which shall be held by the Custodian in accordance with this Agreement.

Appears in 1 contract

Samples: Custody Agreement (Cross Shore Discovery Fund)

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