Maintenance of the Trust’s Assets Abroad Clause Samples
The 'Maintenance of the Trust’s Assets Abroad' clause authorizes the trustee to hold, manage, and invest trust assets in foreign jurisdictions outside the trust’s home country. This clause typically outlines the trustee’s powers to open accounts, purchase property, or engage in transactions with foreign institutions, and may address compliance with local laws or currency regulations. Its core function is to provide flexibility in asset management, enabling the trust to diversify holdings internationally and respond to global investment opportunities, while also clarifying the trustee’s authority to operate across borders.
Maintenance of the Trust’s Assets Abroad. The Trust, acting through its Board or its duly authorized representative, hereby instructs Delegate pursuant to the terms of the Custodian Agreement dated as of the date hereof executed by and between the Trust and the Delegate (the Custodian Agreement) to place and maintain the Trust’s Assets in countries outside the United States in accordance with Instructions received from the Trust’s Investment Advisor and in accordance with this Schedule. Such instruction shall represent an Instruction under the terms of the Custodian Agreement. The Trust acknowledges that (a) the Delegate shall perform services hereunder only with respect to the countries where it accepts delegation as Foreign Custody Manager as indicated on Delegate’s Global Custody Network Listing, as may be revised from time to time upon advance written notice to Trust; (b) depending on conditions in the particular country, advance notice may be required before the Delegate shall be able to perform its duties hereunder in or with respect to such country (such advance notice to be reasonable in light of the specific facts and circumstances attendant to performance of duties in such country); and (c) nothing in this Delegation Schedule shall require the Delegate to provide delegated or custodial services in any country, and there may from time to time be countries as to which the Delegate determines it will not provide delegation services. Delegate will provide the Trust with advance written notice of such countries.