No Enforcement Actions. Notwithstanding anything to the contrary in this Agreement, the Custodian shall not be under any duty or obligation to take action, by legal means or otherwise, to effect collection of any amount, if the Investment upon which such amount is payable is/are in default, or if payment is refused after due demand or presentation, unless and until (i) it shall be directed to take such action by Written Instructions and (ii) it shall be assured to its satisfaction (including prepayment thereof) of reimbursement of its costs and expenses in connection with any such action.
Appears in 22 contracts
Samples: Custody Agreement (MSS Series Trust), Custody Agreement (Capitol Series Trust), Custody Agreement (MSS Series Trust)
No Enforcement Actions. Notwithstanding anything to the contrary in this Agreement, the Custodian shall not be under any duty or obligation to take action, by legal means or otherwise, to effect collection of any amount, if the Investment upon which such amount is payable is/are in default, or if payment is refused after due demand or presentation, unless and until (i) it shall be directed to take such action by Written Instructions and (ii) it shall be assured to its sole satisfaction (including prepayment thereof) of the payment of its extraordinary compensation and the reimbursement of its costs and expenses (including, but not limited to, attorneys’ fees and expenses) in connection with any such action.
Appears in 9 contracts
Samples: Custody Agreement (OneAscent Capital Opportunities Fund), Custody Agreement (Upright Investments Trust), Custody Agreement (360 Funds)
No Enforcement Actions. Notwithstanding anything to the contrary in this Agreement, the Custodian shall not be under any duty or obligation to to· take action, by legal means or otherwise, to effect collection of any amount, if the Investment upon which such amount is payable is/are in default, or if payment is refused after due demand or presentation, unless and until (i) it shall be directed to take such action by Written Instructions and (ii) it shall be assured to its satisfaction (including prepayment thereof) of reimbursement of its costs and expenses in connection with any such action.
Appears in 2 contracts
Samples: Custody Agreement (Northern Lights Fund Trust Ii), Custody Agreement (Northern Lights Fund Trust Iii)
No Enforcement Actions. Notwithstanding anything to the contrary in this Agreement, the Custodian shall not be under any duty or obligation to take legal action, by legal means or otherwiseotherwise on behalf of the Trust or Fund, including, without limitation, to effect collection of any amount, amount if the Investment upon which such amount is payable is/are in default, or if payment is refused after due demand or presentation, unless and until (i) it shall be directed to take such action by Written Instructions and (ii) it shall be assured to its satisfaction (including prepayment thereof) of reimbursement of its costs and expenses in connection with any such action.
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