Common use of Form of Proper Instructions Clause in Contracts

Form of Proper Instructions. Proper Instructions may relate to specific transactions or to types or classes of transactions, and may be in the form of standing instructions acceptable to the Custodian. Proper Instructions may be transmitted electronically or by computer, provided that a Fund or Series has followed any relevant security procedures agreed to from time to time by the Fund and the Custodian including, but not limited to, the security procedures selected by the Fund by reference to the form of Funds Transfer Addendum attached hereto as Axxxxxxx X, the terms of which are part of this Agreement. Each Fund shall be responsible for safeguarding any testkeys, identification codes or other security devices that the Custodian makes available to the Fund. The Custodian shall be without liability for relying on any instruction, including any instruction transmitted via facsimile, that have been verified in accordance with the Security Procedures established by the Custodian. The Custodian shall promptly notify an Authorized Person if the Custodian determines that an instruction does not contain all information reasonably necessary for the Custodian to carry out the instruction. The Custodian may decline to act upon an instruction if it does not receive clarification or confirmation reasonably satisfactory to it. The Custodian will not be liable for any loss arising from any reasonable delay in carrying out any such instruction while it seeks information, clarification or confirmation or in declining to act upon any instruction for which it does not receive clarification satisfactory to it. The Custodian need not act upon Proper Instructions which it reasonably believes to be contrary to law, regulation or market practice, and the Custodian shall be under no duty to investigate whether any Proper Instructions comply with applicable law or market practice. In the event the Custodian does not act upon such Proper Instructions, the Custodian will promptly notify the applicable Fund or Series unless such notification is contrary to applicable law or regulation. If such prompt notification is contrary to applicable law or regulation, the Custodian will provide appropriate notification to the Fund or Series as soon as reasonably practicable.

Form of Proper Instructions. Proper Instructions may relate to specific transactions or to types or classes of transactions, and may be in the form of standing instructions acceptable to the Custodian. Proper Instructions may be transmitted electronically or by computer, provided that a Fund or Series has followed any relevant security procedures agreed to from time to time by the Fund and the Custodian including, but not limited to, the security procedures selected by the Fund by reference to the form of Funds Transfer Addendum attached hereto as Axxxxxxx X, the terms of which are part of this AgreementCustodian. Each Fund shall be responsible for safeguarding any testkeys, identification codes or other security devices that the Custodian makes available to the Fund. The Custodian shall be without liability for relying on any instruction, including any instruction transmitted via facsimile, that have been verified in accordance with the Security Procedures established by the Custodian. The Custodian shall promptly notify an Authorized Person if the Custodian determines that an instruction does not contain all information reasonably necessary for the Custodian to carry out the instruction. The Custodian may decline to act upon an instruction if it does not receive clarification or confirmation reasonably satisfactory to it. The Custodian will not be liable for any loss arising from any reasonable delay in carrying out any such instruction while it seeks information, clarification or confirmation or in declining to act upon any instruction for which it does not receive clarification satisfactory to it. The Custodian need not act upon Proper Instructions which it reasonably believes to be contrary to law, regulation or market practice, and the Custodian shall be under no duty to investigate whether any Proper Instructions comply with applicable law or market practice. In the event the Custodian does not act upon such Proper Instructions, the Custodian will promptly notify the applicable Fund or Series unless such notification is contrary to applicable law or regulation. If such prompt notification is contrary to applicable law or regulation, the Custodian will provide appropriate notification to the Fund or Series as soon as reasonably practicable.