Foreign Currency Exchange. Unless the Depositor shall otherwise direct, whenever funds are received by the Trustee in foreign currency, upon the receipt thereof or, if such funds are to be received in respect of a sale of Securities, concurrently with the contract of the sale for the Security (in the latter case the foreign exchange contract to have a settlement date coincident with the relevant contract of sale for the Security), the Trustee shall enter into a foreign exchange contract for the conversion of such funds to U.S. dollars pursuant to the instruction of the Depositor. The Trustee shall have no liability for any loss or depreciation resulting from action taken pursuant to such instruction. (u) If so provided in the Prospectus for the Trust(s), each Trust elects to be treated and to qualify as a Regulated Investment Company as defined in the Internal Revenue Code, and the Trustee is hereby directed to make such elections, including any appropriate election to be taxed as a corporation, as shall be necessary to effect such qualification. Section 8.01 shall be amended to add the following paragraph (m):
Appears in 12 contracts
Samples: Trust Indenture and Agreement (Nuveen Unit Trusts Series 88), Trust Indenture and Agreement (Nuveen Unit Trusts Series 97), Trust Indenture and Agreement (Nuveen Unit Trusts Series 90)
