OPERATIONAL DUTIES OF CUSTODIAN Sample Clauses

OPERATIONAL DUTIES OF CUSTODIAN. RECEIPT OF PROPERTY BY CUSTODIAN Custodian shall receive Property, and place such Property in custody in the Account as directed by the Treasurer, a Deputy Treasurer, or a State Fund Administrative Entity. QUALIFIED SUB-CUSTODIANS Contracts with Sub-Custodians. Custodian will contract in writing with Qualified Sub-Custodians to provide settlement services and custodial services for domestic and foreign securities. Custodian shall provide and utilize a comprehensive system for selecting Qualified Sub-Custodians and evaluating and monitoring their internal control structures, performance, and financial condition. Custodian will, consistent with its fiduciary duty and the standard of care set forth herein, exercise prudence in the selection of Qualified Sub-Custodians and shall regularly review the performance of each Qualified Sub-Custodian to confirm the continued retention of such Qualified Custodian is prudent. Custodian shall take prompt, appropriate action in any case where it is determined that such standard has not been satisfied. Custodian represents and covenants that its Qualified Sub-Custodians can and will efficiently settle Domestic and Foreign Transactions and provide safe custody for Domestic Property and Foreign Property; and that Custodian will monitor its Qualified Sub-Custodians’ performance regarding securities custody and settlement. The use of Qualified Sub-Custodians by Custodian shall not relieve Custodian of any of its duties or obligations under this Agreement. For purposes of this Agreement, the acts or omissions of a Qualified Sub-Custodian shall be deemed to be the direct actions of Custodian, and Custodian shall be liable for the acts, omissions or negligence of its Qualified Sub-Custodians, including without limitation, any financial losses or damages sustained by any State Entity caused by such acts, omissions or negligence.
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OPERATIONAL DUTIES OF CUSTODIAN 
Sample 1

Related to OPERATIONAL DUTIES OF CUSTODIAN

  • Additional Duties (a) In addition to the duties of the Administrator set forth above, the Administrator shall (i) perform all duties and obligations applicable to or required of the Issuer as set forth in Appendix A to the Sale and Servicing Agreement in accordance with the terms and conditions thereof, (ii) perform such calculations and shall prepare or shall cause the preparation by other appropriate persons of, and shall execute on behalf of the Issuer or the Owner Trustee, all such documents, reports, filings, instruments, certificates and opinions that it shall be the duty of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to the Related Agreements or Section 5.04(a), (b), (c) or (d) of the Trust Agreement, and at the request of the Owner Trustee shall take all appropriate action that it is the duty of the Issuer or the Owner Trustee to take pursuant to the Related Agreement and perform such duties and obligations as required under the Asset Representations Review Agreement. In furtherance thereof, the Owner Trustee shall, on behalf of itself and of the Issuer, execute and deliver to the Administrator and to each successor Administrator appointed pursuant to the terms hereof, one or more powers of attorney substantially in the form of Exhibit A hereto, appointing the Administrator the attorney-in-fact of the Owner Trustee and the Issuer for the purpose of executing on behalf of the Owner Trustee and the Issuer all such documents, reports, filings, instruments, certificates and opinions. Subject to Section 5 of this Agreement, and in accordance with the directions of the Owner Trustee, the Administrator shall administer, perform or supervise the performance of such other activities in connection with the Collateral (including the Related Agreements) as are not covered by any of the foregoing provisions and as are expressly requested by the Owner Trustee and are reasonably within the capability of the Administrator. Such responsibilities shall include providing to the Depositor and the Indenture Trustee the monthly servicing report in an appropriate electronic form.

  • Responsibilities of Customer 5.1 To the extent that the Supplier requires access to the Customer Site to perform the Services, the Customer shall provide such access during Normal Business Hours and to provide a suitable work environment to enable the Supplier to perform such Services subject to the Supplier complying with such internal policies and procedures of the Customer (including those relating to security and health and safety) as may be notified to the Supplier in writing from time to time.

  • Administrative Duties 94 SECTION 12.2 Records.....................................................................97 SECTION 12.3 Additional Information to be Furnished to the Issuer........................97

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  • Civic Duties An employee who is late for work as a result of duties as a volunteer fire fighter or licensed ambulance attendant or licensed rescue squad attendant, shall be granted use of annual leave and/or accrued compensatory leave to cover the period of lateness, provided that performance of said duties may be verified by the Employer.

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  • Typical Duties (1) Supervises designated staff by performing duties such as scheduling and coordinating work assignments, evaluating employee performance and determining related training and orientation requirements.

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