Common use of INSPECTION OF RECORDS BY OTHERS Clause in Contracts

INSPECTION OF RECORDS BY OTHERS. In case of any requests or demands for the inspection of the Shareholder records of the Trust, TFS will endeavor to notify the Trust and to secure instructions from an authorized officer of the Trust as to such inspection. Notwithstanding the foregoing, disclosure of such records by TFS is permitted to the extent: (i) disclosure is required by law, (ii) TFS is advised by counsel that it may incur liability for failure to make a disclosure, (iii) TFS is requested to divulge such information by duly-constituted authorities or court process, or (iv) TFS is requested to make a disclosure by a Shareholder or a properly authorized agent of a Shareholder (“Shareholder’s Agent”) with respect to information concerning an account as to which such Shareholder has either a legal or beneficial interest or when requested by the Trust or the dealer of record as to such account. TFS shall provide the Trust with reasonable advance notice of disclosure pursuant to items (i) through (iii) of the previous sentence, to the extent reasonably practicable.