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 6 contracts
Samples: Custody Agreement (Paradigm Funds), Custody Agreement (Mundoval Funds), Custody Agreement (Blue Chip Investor Funds)
