Foreign Sub-Subcustodians and Interim Sub-Subcustodians Sample Clauses

Foreign Sub-Subcustodians and Interim Sub-Subcustodians. (a) Foreign Sub-Subcustodians. The Custodian may at any time appoint, or cause a Domestic Subcustodian to appoint: (i) any bank, trust company or other entity meeting requirements of an "eligible foreign custodian" under Section 17(f) of the 1940 Act and the rules and regulations thereunder or by order of the Securities and Exchange Commission exempted therefrom, or (ii) any bank as defined in Section 2(a)(5) of the 1940 Act meeting the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder to act on behalf of the Fund as a sub-subcustodian for purposes of holding cash, securities and other Assets of the Fund and performing other functions of the Domestic Subcustodian in countries other than the United States of America (a "Foreign Sub-Subcustodian"); provided that, prior to the appointment or approval of any Foreign Sub-Subcustodian the Custodian shall, or shall cause the Domestic Subcustodian to, notify the Fund, in writing, of the identity and qualifications of the proposed Foreign Sub-Subcustodian and make a copy of the proposed sub-subcustodian agreement available to the Fund at least sixty (60) days prior to the desired appointment; and provided further that the Custodian shall have obtained written confirmation from two or more Authorized Persons of the approval of the Board of Directors or other governing body of the Fund (which approval may be withheld in the sole discretion of such Board of Directors or other governing body or entity) with respect to (i) the identity and qualifications of any proposed Foreign Sub-Subcustodian, and (ii) the country or countries in which, and the securities depositories or clearing agencies (hereinafter "Securities Depositories and Clearing Agencies"), if any, through which, any proposed Foreign Sub-Subcustodian is authorized to hold securities and other Assets of the Fund. Each such duly approved Foreign Sub- Subcustodian and the countries where and the Securities Depositories and Clearing Agencies through which they may hold securities and other Assets of the Fund shall be listed on the Subcustodian List. The Fund shall be responsible for informing the Custodian sufficiently in advance of a proposed investment which is to be held in a country in which no Foreign Sub-Subcustodian is authorized to act, in order that there shall be sufficient time for the Custodian or any Domestic Subcustodian to effect the appropriate arrangements with a proposed Foreign Sub-Subcust...
Sample 1Sample 2Sample 3See All (25)
AutoNDA by SimpleDocs
Foreign Sub-Subcustodians and Interim Sub-Subcustodians. (a) Foreign Sub-Subcustodians. Provided that the Custodian of a Domestic Subcustodian is an Approved Foreign Custody Manager, the Custodian or any such Domestic Subcustodian, as applicable, may appoint any (1)(a) "
Sample 1Sample 2Sample 3See All (22)
Foreign Sub-Subcustodians and Interim Sub-Subcustodians. (a) Foreign Sub-Subcustodians. A Domestic Subcustodian which is an Approved Foreign Custody Manager, or the Domestic Subcustodian, may appoint any (1)(a) "Qualified Foreign Bank" (as such term is defined in Rule 17f-5) meeting the requirements of an "Eligible Foreign Custodian" (as such term is defined in Rule 17f-5) or by SEC order exempt therefrom; (b) majority-owned direct or indirect subsidiary of a "U.S. bank" (as such term is defined in Rule 17f-5) or bank holding company meeting the requirements of an Eligible Foreign Custodian or exempt by SEC order therefrom; or (c) any bank (as such term is defined in Section 2(a)(5) of the 0000 Xxx) meeting the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder (each a "Foreign Sub-Subcustodian") or (2) any "Securities Depository" (as such term is defined in Rule 17f-5) or clearing agency meeting the requirements of an Eligible Foreign Custodian or exempt by SEC order therefrom ("Securities Depositories and Clearing Agencies"), provided that the Foreign Custody Manager's appointments of such Eligible Foreign Custodians shall at all times be governed by the Delegation Agreement, except that the Fund's investment adviser, Xxxxxxx & Xxxx Investment Management Company, shall be responsible for the appointment of a compulsory depository, as applicable.
Sample 1Sample 2Sample 3See All (12)
Foreign Sub-Subcustodians and Interim Sub-Subcustodians. (a) Foreign Sub-Subcustodians. The Approved Foreign Custody Manager may appoint any entity meeting the requirements of an Eligible Foreign Custodian, as such term is defined in Rule 17f-5(a)(1) under the 1940 Act, and which term shall also include a bank that qualifies to serve as a custodian of assets of investment companies under Section 17(f) of the 1940 Act or by SEC order is exempt therefrom (each a "Foreign Sub- Subcustodian"), provided that the Approved Foreign Custody Manager's appointments of such Eligible Foreign Custodians shall at all times be governed by an agreement that complies with Rule 17f-5.
Sample 1Sample 2Sample 3See All (10)
Foreign Sub-Subcustodians and Interim Sub-Subcustodians. (a) Foreign Sub-Subcustodians. A Domestic Subcustodian which is an Approved Foreign Custody Manager, or the Domestic Subcustodian, may appoint any (1)(a) "Qualified Foreign Bank" (as such term is defined in Rule 17f-5) meeting the requirements of an "Eligible Foreign Custodian" (as such term is defined in Rule 17f-5) or by SEC order exempt therefrom; (b) majority- owned direct or indirect subsidiary of a "U.S. bank" (as such term is defined in Rule 17f-5) or bank holding company meeting the requirements of an Eligible Foreign Custodian or exempt by SEC order therefrom; or (c) any bank (as such term is defined in Section 2(a)(5) of the 1940 Act) meeting the requirements of a custodian under Sectiox 00(x) of the 1940 Act and the rules and regulations thereunder (each a "Foreign Sub-Subcustodian") or (2) any "Securities Depository" (as such term is defined in Rule 17f-5) or
Sample 1
Foreign Sub-Subcustodians and Interim Sub-Subcustodians 
Sample 1Sample 2

Related to Foreign Sub-Subcustodians and Interim Sub-Subcustodians

  • Foreign Subcustodians and Interim Subcustodians (a)(1) Delegation of Directors/Trustees Review of Subcustodians. From time to time, the Custodian may agree to perform certain reviews of Subcustodians and of Subcustodian Contracts as delegate of the Fund's Directors/Trustees. In such event, the Custodian's duties and obligations with respect to this delegated review will be performed in accordance with the terms of the attached 17f-5 Delegation Schedule to this Agreement.

  • Domestic Subcustodians and Foreign Subcustodians The Custodian shall be liable for the actions or omissions of any Domestic Subcustodian or any Foreign Subcustodian to the same extent as if such action or omission was performed by the Custodian itself. In the event of any loss, damage or expense suffered or incurred by a Fund caused by or resulting from the actions or omissions of any Domestic Subcustodian or Foreign Subcustodian for which the Custodian would otherwise be liable, the Custodian shall promptly reimburse such Fund in the amount of any such loss, damage or expense.

  • Foreign Subcustodians The Custodian may at any time appoint, or cause a Domestic Subcustodian to appoint, any bank, trust company or other entity meeting the requirements of an "eligible foreign custodian" under Section 17(f) of the 1940 Act and the rules and regulations thereunder to act for the Custodian on behalf of any one or more Funds as a subcustodian or sub-subcustodian (if appointed by a Domestic Subcustodian) for purposes of holding Assets of the Fund(s) and performing other functions of the Custodian in countries other than the United States of America (hereinafter referred to as a "Foreign Subcustodian" in the context of either a subcustodian or a sub-subcustodian); provided that the Custodian shall have obtained written confirmation from each Fund of the approval of the Board of Directors or other governing body of each such Fund (which approval may be withheld in the sole discretion of such Board of Directors or other governing body or entity) with respect to (i) the identity of any proposed Foreign Subcustodian (including branch designation), (ii) the country or countries in which, and the securities depositories or clearing agencies (hereinafter "Securities Depositories and Clearing Agencies"), if any, through which, the Custodian or any proposed Foreign Subcustodian is authorized to hold Securities and other Assets of each such Fund, and (iii) the form and terms of the subcustodian agreement to be entered into with such proposed Foreign Subcustodian. Each such duly approved Foreign Subcustodian and the countries where and the Securities Depositories and Clearing Agencies through which they may hold Securities and other Assets of the Fund(s) shall be listed on Appendix A attached hereto, as it may be amended, from time to time. Each Fund shall be responsible for informing the Custodian sufficiently in advance of a proposed investment which is to be held in a country in which no Foreign Subcustodian is authorized to act, in order that there shall be sufficient time for the Custodian, or any Domestic Subcustodian, to effect the appropriate arrangements with a proposed Foreign Subcustodian, including obtaining approval as provided in this Section 5(b). In connection with the appointment of any Foreign Subcustodian, the Custodian shall, or shall cause the Domestic Subcustodian to, enter into a subcustodian agreement with the Foreign Subcustodian in form and substance approved by each such Fund. The Custodian shall not consent to the amendment of, and shall cause any Domestic Subcustodian not to consent to the amendment of, any agreement entered into with a Foreign Subcustodian, which materially affects any Fund's rights under such agreement, except upon prior written approval of such Fund pursuant to Special Instructions.

  • Interim Subcustodians Notwithstanding the provisions of Section 5.01 to the contrary, the Custodian shall not be liable to a Fund for any loss, damage or expense suffered or incurred by such Fund or any of its Portfolios resulting from the actions or omissions of an Interim Subcustodian unless such loss, damage or expense is caused by, or results from, the negligence, misfeasance or misconduct of the Custodian; provided however, in the event of any such loss, damage or expense, the Custodian shall take all reasonable steps to enforce such rights as it may have against such Interim Subcustodian to protect the interests of the Funds and the Portfolios.

  • Special Subcustodians Upon receipt of Special Instructions, the Custodian shall, on behalf of a Fund, appoint one or more banks, trust companies or other entities designated in such Special Instructions to act for the Custodian on behalf of such Fund as a subcustodian for purposes of: (i) effecting third-party repurchase transactions with banks, brokers, dealers or other entities through the use of a common custodian or subcustodian; (ii) providing depository and clearing agency services with respect to certain variable rate demand note Securities, (iii) providing depository and clearing agency services with respect to dollar denominated Securities, and (iv) effecting any other transactions designated by such Fund in such Special Instructions. Each such designated subcustodian (hereinafter referred to as a "Special Subcustodian") shall be listed on Appendix A attached hereto, as it may be amended from time to time. In connection with the appointment of any Special Subcustodian, the Custodian shall enter into a subcustodian agreement with the Special Subcustodian in form and substance approved by the appropriate Fund in Special Instructions. The Custodian shall not amend any subcustodian agreement entered into with a Special Subcustodian, or waive any rights under such agreement, except upon prior approval pursuant to Special Instructions.

  • Domestic Subcustodians Except as provided in Section 7(d), the Custodian shall be liable for the acts or omissions of any Domestic Subcustodian to the same extent as if such actions or omissions were performed by the Custodian itself.

  • Securities Systems, Interim Subcustodians, Special Subcustodians, Eligible Securities Depositories The Custodian shall not be liable to any Fund for any loss, damage or expense suffered or incurred by such Fund resulting from or occasioned by the actions or omissions of a Securities System, Interim Subcustodian, Special Subcustodian, or Eligible Securities Depository unless such loss, damage or expense is caused by, or results from, the negligence or willful misconduct of the Custodian.

  • Foreign Sub-Custodians (a) Subject to the provisions of this Section 4, the Foreign Custody Manager may place and maintain the Foreign Assets in the care of a Foreign Sub-Custodian 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 a Foreign Sub-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 Foreign Sub-Custodian, after considering all factors relevant to the safekeeping of such assets, including, without limitation the factors specified in Rule 17f-5(c)(1) under the 0000 Xxx.

  • Special Subcustodians and Additional Custodians Notwithstanding the provisions of Section 5.01 to the contrary and except as otherwise provided in any subcustodian agreement to which the Custodian, a Fund and any Special Subcustodian or Additional Custodian are parties, the Custodian shall not be liable to a Fund for any loss, damage or expense suffered or incurred by such Fund or any of its Portfolios resulting from the actions or omissions of a Special Subcustodian or Additional Subcustodian, unless such loss, damage or expense is caused by, or results from, the negligence, misfeasance or misconduct of the Custodian; provided however, that in the event of any such loss, damage or expense, the Custodian shall take all reasonable steps to enforce such rights as it may have against any Special Subcustodian or Additional Custodian to protect the interests of the Funds and the Portfolios.

  • Foreign Subcustodians and Securities Depositories Unless instructed otherwise by the Fund, the Custodian may deposit and/or maintain non-U.S. Investments of the Fund in any non-U.S. Securities Depository provided such Securities Depository meets the requirements of an "eligible securities depository" under Rule 17f-7 promulgated under the 1940 Act, or any successor rule or regulation ("Rule 17f-7") or which by order of the Securities and Exchange Commission is exempted therefrom. Prior to the time that securities are placed with such depository, but subject to the provisions of Section 8.2.4 below, the Custodian shall have prepared an assessment of the custody risks associated with maintaining assets with the Securities Depository and shall have established a system to monitor such risks on a continuing basis in accordance with Subsection 8.2.3 of this Section and Rule 17f-7. Additionally, the Custodian may, at any time and from time to time, appoint (a) any bank, trust company or other entity meeting the requirements of an "eligible foreign custodian" under Rule 17f-5 or which by order of the Securities and Exchange Commission is exempted therefrom, or (b) any bank as defined in Section 2(a)(5) of the 1940 Act meeting the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder, to act on behalf of the Fund as a Subcustodian for purposes of holding Investments of the Fund outside the United States. Such appointment of foreign Subcustodians shall be subject to approval of the Fund or the Foreign Custody Manager in accordance with Subsections 8.2.1 and 8.2.2 hereof, and use of non-U.S. Securities Depositories shall be subject to the terms of Subsections 8.2.3 and 8.2.4 hereof. An Instruction to open an account in a given country shall comprise authorization of the Custodian to hold assets in such country in accordance with the terms of this Agreement. The Custodian shall not be required to make independent inquiry as to the authorization of the Fund to invest in such country.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!