Common use of Liability of the Custodian with Respect to Proper Instructions; Evidence of Authority, Etc Clause in Contracts

Liability of the Custodian with Respect to Proper Instructions; Evidence of Authority, Etc. The Custodian shall not be liable for any action taken or omitted in reliance upon proper instructions believed by it to be genuine or upon any other written notice, request, direction, instruction, certificate or other instrument believed by it to be genuine and signed by the proper party or parties. The Secretary or Assistant Secretary of each Fund shall certify to the Custodian the names, signatures and scope of authority of all persons authorized to give proper instructions or any other such notice, request, direction, instruction, certificate or instrument on behalf of the Fund, the names and signatures of the officers of the Fund, the name and address of the Shareholder Servicing Agent, and any resolutions, votes, instructions or directions of the Fund’s Board of Directors or Trustees or shareholders. Such certificate may be accepted and relied upon by the Custodian as conclusive evidence of the facts set forth therein and may be considered in full force and effect until receipt of a similar certificate to the contrary. So long as and to the extent that it is in the exercise of reasonable care, the Custodian shall not be responsible for the title, validity or genuineness of any property or evidence of title, thereto received by it or delivered by it pursuant to this Agreement. The Custodian shall be entitled, at the expense of the appropriate Fund or Funds, to receive and act upon advice of (i) counsel regularly retained by the Custodian in respect of custodian matters, (ii) counsel for such Fund or Funds, or (iii) such other counsel as such Fund or Funds and the Custodian may agree upon, with respect to all matters, and the Custodian shall be without liability for any action reasonably taken or omitted pursuant to such advice.

Appears in 1 contract

Samples: Custodian Agreement (Aberdeen Chile Fund, Inc.)

AutoNDA by SimpleDocs

Liability of the Custodian with Respect to Proper Instructions; Evidence of Authority, Etc. The Custodian shall not be liable for any action taken or omitted in reliance upon proper instructions believed by it to be genuine or upon any other written notice, request, direction, instruction, certificate or other instrument believed by it to be genuine and signed by the proper party or parties. The Secretary or Assistant Secretary of each the Fund shall certify to the Custodian the names, signatures and scope of authority of all persons authorized to give proper instructions or any other such notice, request, direction, instruction, certificate or instrument on behalf of the Fund, the names and signatures of the officers of the Fund, the name and address of the Shareholder Servicing Agent, and any resolutions, votes, instructions or directions of the Fund’s 's Board of Directors or Trustees or shareholders. Such certificate may be accepted and relied upon by the Custodian as conclusive evidence of the facts set forth therein and may be considered in full force and effect until receipt of a similar certificate to the contrary. So long as and to the extent that it is in the exercise of reasonable care, the Custodian shall not be responsible for the title, validity or genuineness of any property or evidence of title, title thereto received by it or delivered by it pursuant to this Agreement. The Custodian shall be entitled, at the expense of the appropriate Fund or FundsFund, to receive and act upon advice of (i) counsel regularly retained by the Custodian in respect of custodian matters, (ii) counsel for such Fund or Fundsthe Fund, subject to the following sentence, or (iii) such other counsel as such the Fund or Funds and the Custodian may agree upon, with respect to all legal matters, and the Custodian shall be without liability for any action reasonably taken or omitted pursuant to such advice. The Custodian shall be entitled, at the expense of the Fund, to receive advice of counsel for the Fund only upon the approval of an officer of the Fund, which approval shall not be unreasonably withheld.

Appears in 1 contract

Samples: Custodian Agreement (Comstock Partners Funds Inc)

Liability of the Custodian with Respect to Proper Instructions; Evidence of Authority, Etc. The Custodian shall not be liable for any action taken or omitted in reliance upon proper instructions believed by it to be genuine or upon any other written notice, request, direction, instruction, certificate or other instrument believed by it to be genuine and signed by the proper party or parties. The Secretary or Assistant Secretary of each the Fund shall certify to the Custodian the names, signatures and scope of authority of all persons authorized to give proper instructions or any other such notice, request, direction, instruction, certificate or instrument on behalf of the Fund, the names and signatures of the officers of the Fund, the name and address of the Shareholder Servicing Agent, and any resolutions, votes, instructions or directions of the Fund’s 's Board of Directors or Trustees or shareholders. Such certificate may be accepted and relied upon by the Custodian as conclusive evidence of the facts set forth therein and may be considered in full force and effect until receipt of a similar certificate to the contrary. So long as and to the extent that it is in the exercise of reasonable care, the Custodian shall not be responsible for the title, validity or genuineness of any property or evidence of title, title thereto received by it or delivered by it pursuant to this Agreement. The Custodian shall be entitled, at the expense of the appropriate Fund or Funds, entitled to receive and act upon advice of (i) counsel regularly retained by the Custodian in respect of custodian Custodian matters, or (ii) at the expense of the Fund, and upon the Fund's approval, (x) counsel for such Fund or Fundsthe Fund, or (iiiy) such other counsel as such the Fund or Funds and the Custodian may agree upon, with respect to all matters, and the Custodian shall be without liability for any action reasonably taken or omitted pursuant to such advice.

Appears in 1 contract

Samples: Custodian Agreement (Phoenix Multi Portfolio Fund)

Liability of the Custodian with Respect to Proper Instructions; Evidence of Authority, Etc. The Custodian shall not be liable for any action taken or omitted in reliance upon proper instructions believed by it to be genuine or upon any other written notice, request, direction, instruction, certificate or other instrument believed by it to be genuine and signed by the proper party or parties. The Secretary or Assistant Secretary of each Fund shall certify to the Custodian the names, signatures and scope of authority of all persons authorized to give proper instructions or any other such notice, request, direction, instruction, certificate or instrument on behalf of the each Fund, the names and signatures of the officers of the each Fund, the name and address of the Shareholder Servicing Agent, and any resolutions, votes, instructions or directions of the each Fund’s 's Board of Directors or Trustees or shareholders. Such certificate may be accepted and relied upon by the Custodian as conclusive evidence of the facts set forth therein and may be considered in full force and effect until receipt of a similar certificate to the contrary. So long as and to the extent that it is in the exercise of reasonable care, the Custodian shall not be responsible for the title, validity or genuineness of any property or evidence of title, title thereto received by it or delivered by it pursuant to this Agreement. The Custodian shall be entitled, at the expense of the appropriate Fund or Fundseach Fund, to receive and act upon advice of (i) counsel regularly retained by the Custodian in respect of custodian matters, (ii) counsel for such Fund or Fundseach Fund, or (iii) such other counsel as such each Fund or Funds and the Custodian may agree upon, with respect to all matters, and the Custodian shall be without liability for any action reasonably taken or omitted pursuant to such advice.

Appears in 1 contract

Samples: Agreement (Warburg Pincus Municipal Bond Fund Inc)

AutoNDA by SimpleDocs

Liability of the Custodian with Respect to Proper Instructions; Evidence of Authority, Etc. The Custodian shall not be liable for any action taken or omitted in reliance upon proper instructions believed by it to be genuine or upon any other written notice, request, direction, instruction, certificate or other instrument believed by it to be genuine and signed by the proper party or parties. The Secretary or Assistant Secretary of each the Fund shall certify to the Custodian the names, signatures and scope of authority of all persons authorized to give proper instructions or any other such notice, request, direction, instruction, certificate or instrument on behalf of the Fund, the names and signatures of the officers of the Fund, the name and address of the Shareholder Servicing Agent, and any resolutions, votes, instructions or directions of the Fund’s 's Board of Directors or Trustees or shareholders. Such certificate may be accepted and relied upon by the Custodian as conclusive evidence of the facts set forth therein and may be considered in full force and effect until receipt of a similar certificate to the contrary. So long as and to the extent that it is in the exercise of reasonable care, the Custodian shall not be responsible for the title, validity or genuineness of any property or evidence of title, title thereto received by it or delivered by it pursuant to this Agreement. The Custodian shall be entitled, at the expense of the appropriate Fund or FundsFund, to receive and act upon advice of (i) counsel regularly retained by the Custodian in respect of custodian matters, (ii) counsel for such Fund or Fundsthe Fund, or (iii) such other counsel as such the Fund or Funds and the Custodian may agree upon, with respect to all matters, and the Custodian shall be without liability for any action reasonably taken or omitted pursuant to such advice.

Appears in 1 contract

Samples: Agreement (Pioneer Growth Trust)

Time is Money Join Law Insider Premium to draft better contracts faster.