Common use of Instructions from The Trust Clause in Contracts

Instructions from The Trust. 14.1 The Trust shall from time to time file with the Custodian a certified copy of each resolution of its Board of Trustees authorizing the person or persons to give instructions to the Custodian under this Agreement, together with certified signatures of such persons authorized to sign, which shall constitute conclusive evidence of the authority of the officers and signatories designated therein to act, and shall be considered in full force and effect with the Custodian fully protected in acting in reliance thereon until it receives written notice to the contrary. 14.2 A person or persons authorized from time to time by the Trustees of the Trust to give the particular class of instructions may give instruction, notice, or other communication called for by this Agreement to Custodian in writing, or by telecopy, telex, telegram, facsimile, computer terminal, or other form of electronic communication acceptable to Custodian. Unless otherwise expressly provided, all Instructions shall continue in full force and effect until canceled or superseded. A person or persons authorized from time to time by the Trustees of the Trust to give the particular class of instructions may give and Custodian may accept oral instructions; provided, however, that a person or persons authorized from time to time by the Trustees of the Trust to give the particular class of instructions shall promptly confirm any oral communications in writing. The Trust will hold Custodian harmless for the failure of a person or persons authorized from time to time by the Trustees of the Trust to give the particular class of instructions to send confirmation in writing, the failure of such confirmation to conform to the telephone instructions received or Custodian’s failure to produce such confirmation at any subsequent time except if such failure was a result of Custodian’s negligent intentional tortuous act or willful misconduct. Custodian may electronically record any instruction given by telephone, and any other telephone discussions with respect to the Custody Account. 14.3 All such communications shall be deemed effective upon receipt by Custodian at its address specified in Paragraph 15 of this Agreement, as amended from time to time. Custodian without liability may rely upon and act in accordance with any instruction that Custodian using ordinary care believes has been given by the Trust. 14.4 Custodian may at any time request reasonable instructions from the Trust and may await such instructions without incurring liability. Custodian has no obligation to act in the absence of such requested instructions, but may, however, without liability take such action as it deems appropriate to carry out the purposes of this Agreement.