Common use of Payment of Customer Monies Clause in Contracts

Payment of Customer Monies. Upon receipt of Proper Instructions, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall pay out, or direct the respective Foreign Sub-Custodian or the respective Foreign Securities System to pay out, monies of the applicable Customer in the following cases only:

Payment of Customer Monies. Upon receipt of Proper InstructionsInstructions from the applicable Customer, which may be continuing instructions when deemed appropriate by the parties, the Custodian shall pay out, or direct the respective Foreign Sub-Custodian or the respective Foreign Securities System to pay out, out monies of the applicable Customer in the following cases only: