POWERS AND DUTIES OF THE CUSTODIAN Sample Clauses

POWERS AND DUTIES OF THE CUSTODIAN. WITH RESPECT TO ITS ROLE AS FINANCIAL AGENT: The Fund hereby also appoints the Custodian as the Funds financial agent. With respect to the appointment as financial agent, the Custodian shall have and perform the following powers and duties:
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POWERS AND DUTIES OF THE CUSTODIAN. The Custodian shall have and shall perform the following powers and duties hereunder: (a) The Custodian shall receive and hold all the Securities delivered to it and shall ensure that such Securities (other than those in bearer form) be registered in the name of the Custodian or of an Agent or in such other name as may be customary in the country or counties of the relevant Securities (which may include the Client, in which case Clause 3(b) second paragraph above shall apply to the effect that only the Custodian may dispose of Client assets so registered). Bearer Securities shall be deposited in the vault of the Custodian or of an Agent or otherwise dealt with as is appropriate for the purpose of providing for the safekeeping thereof; (b) Provided that the Custodian exercises such duties of supervision and control as are prescribed hereunder and by the Law and the code of conduct promulgated under the Law the Custodian may, for any transactions hereunder, entrust these without limitation, to subsidiaries, associated companies branches or offices of the Custodian or any agents, ("Agent" or in plural "Agents") provided that such agents, if any, shall be of sound reputation and good standing and the Custodian will exercise reasonable care in the selection thereof; (c) The Custodian shall have the duty, in order to protect successfully the Client’s rights and to prevent the use of the Client’s Securities for its own account or for the account of other clients, to educate and train persons duly approved by the Cyprus Securities and Exchange Commission, so that they can properly and effectively operate the administrative and accounting organization that the Custodian possesses, that provides for these issues and apply the control and security mechanisms, as especially mentioned in the Custodian’s Internal Regulation (“Compliance Manual”). (d) The approved persons shall have the duty to: (i) inform the Client about the Securities and Custodian’s procedures of safe-custody and management, in the course of provision of the custody service; and (ii) provide the Client with any information that is necessary for the exercise of its rights over the Securities that the Custodian keeps in safe- custody, as well as the ambit of the services that the Custodian undertakes to provide the Client with. (e) Subject as provided in Clause 3(a) above, the Custodian shall hold, or an Agent shall receive and hold to the order of the Custodian all monies paid to the Client, subject t...
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POWERS AND DUTIES OF THE CUSTODIAN with Respect to its Role as Financial Agent: The Fund hereby also appoints the Custodian as the Funds financial agent. With respect to the appointment as financial agent, the Custodian shall have and perform the following powers and duties:
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POWERS AND DUTIES OF THE CUSTODIAN with Respect to its Role as Recordkeeping Agent: The Custodian shall have and perform the following duties with respect to recordkeeping:
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POWERS AND DUTIES OF THE CUSTODIAN. Notices: Any required notice regarding this Custodial Account will be considered effective when mailed or electronically communicated by the Custodian to the Participant that is on the records of the Custodian. Any notice to be given to the Custodian will be effective when received by the Custodian. The last address of the Participant on the records of the Custodian will be the address used for any tax withholding, disbursement, and reporting required by taxing authorities. The Participant will notify the Custodian and the Sponsor of any change of address. 8.1 All notices, requests and other communications to the Custodian or Sponsor by the Employer or any Participant (or his spouse or Beneficiary) shall be in writing and in such form as the Custodian or Sponsor may from time to time prescribe. The Sponsor or the Custodian shall be entitled to rely on any such instruments believed by it to be genuine.
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POWERS AND DUTIES OF THE CUSTODIAN. In addition to, and not in limitation of, such powers as the Custodian has by law or under any other provisions of this Agreement, the Custodian shall, subject to the limitations set forth in Article III, have the following powers: (a) to deal with all or any part of the assets of the Account; (b) to retain uninvested (without liability for (interest) such cash of the Account held hereunder where vestment of such cash is delayed for any reason; (c) to enforce by suit or otherwise, or to waive its rights on behalf of the Account held hereunder, and to defend claims asserted against it or the Account, provided that the Custodian is indemnified to its satisfaction against liability and expenses; (d) to compromise, adjust, and settle any and all claims against or in favor of it or the Account; (e) to retain any funds or property subject to any dispute without liability for the payment of interest and to decline to make payment or delivery of the funds or property until a court of competent jurisdiction make final adjudication; (f) to charge against and pay from the Account all taxes of any nature levied, assessed, or imposed upon the Account and to pay all reasonable expenses and attorney fees which may be necessarily incurred by the Custodian with respect thereto; (g) to file any tax or information return required of the Custodian, and to pay any tax, interest or penalty associated with any such tax return; (h) to make, execute, acknowledge, and deliver any and all instruments that it deems necessary or appropriate to carry out the powers herein granted; and (i) generally to exercise any of the powers of an owner with respect to all or any part of the Account.
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POWERS AND DUTIES OF THE CUSTODIAN. WITH RESPECT TO ITS ROLE AS RECORDKEEPING AGENT: The Custodian shall have and perform the following duties with respect to recordkeeping:
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Related to POWERS AND DUTIES OF THE CUSTODIAN

  • POWERS AND DUTIES OF CUSTODIAN As custodian, the Custodian shall have and perform the powers and duties set forth in this Article II. Pursuant to and in accordance with Article IV hereof, the Custodian may appoint one or more Subcustodians (as hereinafter defined) to exercise the powers and perform the duties of the Custodian set forth in this Article II and references to the Custodian in this Article II shall include any Subcustodian so appointed.

  • Powers and Duties of the Trustee (a) This Guarantee Agreement shall be held by the Trustee for the benefit of the Holders, and the Trustee shall not transfer this Guarantee Agreement to any Person except the Trustee shall assign rights hereunder to a Holder to the extent such assignment is necessary to exercise such Holder's rights pursuant to Section 5.04 or to a Successor Trustee upon acceptance by such Successor Trustee of its appointment to act as Successor Trustee. The right, title and interest of the Trustee shall automatically vest in any Successor Trustee, and such vesting and cessation of title shall be effective whether or not conveyancing documents have been executed and delivered pursuant to the appointment of such Successor Trustee. (b) If an Event of Default has occurred and is continuing, the Trustee shall enforce this Guarantee Agreement for the benefit of the Holders. (c) The Trustee, before the occurrence of any Event of Default and after the curing or waiving of all Events of Default that may have occurred, shall undertake to perform only such duties as are specifically set forth in this Guarantee Agreement, and no implied covenants shall be read into this Guarantee Agreement against the Trustee. In case an Event of Default has occurred (that has not been cured or waived pursuant to Section 2.06), the Trustee shall exercise such of the rights and powers vested in it by this Guarantee Agreement, and use the same degree of care and skill in its exercise thereof, as a prudent person would exercise or use under the circumstances in the conduct of his or her own affairs. (d) No provision of this Guarantee Agreement shall be construed to relieve the Trustee from liability for its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: (i) prior to the occurrence of any Event of Default and after the curing or waiving of all such Events of Default that may have occurred: (A) the duties and obligations of the Trustee shall be determined solely by the express provisions of this Guarantee Agreement, and the Trustee shall not be liable except for the performance of such duties and obligations as are specifically set forth in this Guarantee Agreement; and (B) in the absence of bad faith on the part of the Trustee, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Trustee and conforming to the requirements of this Guarantee Agreement; but in the case of any such certificates or opinions that by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Guarantee Agreement; (ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer of the Trustee, unless it shall be proved that the Trustee was negligent in ascertaining the pertinent facts upon which such judgment was made; (iii) the Trustee shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of the Holders of a Majority in liquidation amount of the Preferred Securities relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Guarantee Agreement; and (iv) no provision of this Guarantee Agreement shall require the Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if the Trustee shall have reasonable grounds for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Guarantee Agreement or adequate indemnity against such risk or liability is not reasonably assured to it.

  • DUTIES OF THE CUSTODIAN WITH RESPECT TO PROPERTY OF THE FUND HELD BY THE CUSTODIAN IN THE UNITED STATES

  • Administrative Duties of the Custodian The Custodian shall perform the following administrative duties with respect to Investments of the Fund.

  • Powers and Duties of Trustees Section 3.1 General 6 Section 3.2 Investments 6 Section 3.3 Legal Title 7 Section 3.4 Issuance and Repurchase of Shares 7 Section 3.5 Borrow Money or Utilize Leverage 7 Section 3.6 Delegation; Committees 7 Section 3.7 Collection and Payment 8 Section 3.8 Expenses 8 Section 3.9 By-Laws 8 Section 3.10 Miscellaneous Powers 8 Section 3.11 Further Powers 8

  • Powers and Duties Each Lender irrevocably authorizes each Agent to take such action on such Lender’s behalf and to exercise such powers, rights and remedies hereunder and under the other Credit Documents as are specifically delegated or granted to such Agent by the terms hereof and thereof, together with such powers, rights and remedies as are reasonably incidental thereto. Each Agent shall have only those duties and responsibilities that are expressly specified herein and the other Credit Documents. Each Agent may exercise such powers, rights and remedies and perform such duties by or through its agents or employees. No Agent shall have, by reason hereof or any of the other Credit Documents, a fiduciary relationship in respect of any Lender; and nothing herein or any of the other Credit Documents, expressed or implied, is intended to or shall be so construed as to impose upon any Agent any obligations in respect hereof or any of the other Credit Documents except as expressly set forth herein or therein.

  • Services and Duties of the Distributor A. The Distributor agrees to sell Shares on a best efforts basis as agent for the Trust upon the terms and at the current offering price (plus sales charge, if any) described in the Prospectus. As used in this Agreement, the term “Prospectus” shall mean the current prospectus, including the statement of additional information, as both may be amended or supplemented, relating to the Fund and included in the currently effective registration statement (the “Registration Statement”) of the Trust filed under the Securities Act of 1933, as amended (the “1933 Act”) and the 1940 Act. The Trust shall in all cases receive the net asset value per Share on all sales. If a sales charge is in effect, the Distributor shall remit the sales charge (or portion thereof) to broker-dealers who have sold Shares, as described in Section 2(G), below. In no event shall the Distributor be entitled to all or any portion of such sales charge. B. During the continuous public offering of Shares, the Distributor will hold itself available to receive orders, satisfactory to the Distributor, for the purchase of Shares and will accept such orders on behalf of the Trust. Such purchase orders shall be deemed effective at the time and in the manner set forth in the Prospectus. C. The Distributor, with the operational assistance of the Trust’s transfer agent, shall make Shares available for sale and redemption through the National Securities Clearing Corporation’s Fund/SERV System. D. The Distributor acknowledges and agrees that it is not authorized to provide any information or make any representations other than as contained in the Prospectus and any sales literature specifically approved by the Trust. E. The Distributor agrees to cooperate with the Trust or its agent in the development of all proposed advertisements and sales literature relating to the Fund. The Distributor agrees to review all proposed advertisements and sales literature for compliance with applicable laws and regulations, and shall file with appropriate regulators those advertisements and sales literature it believes are in compliance with such laws and regulations. The Distributor agrees to furnish to the Trust any comments provided by regulators with respect to such materials and to use its best efforts to obtain the approval of the regulators to such materials. F. The Distributor, at its sole discretion, may repurchase Shares offered for sale by shareholders of the Fund. Repurchase of Shares by the Distributor shall be at the price determined in accordance with, and in the manner set forth in, the Prospectus. At the end of each business day, the Distributor shall notify the Trust and its transfer agent, by any appropriate means, of the orders for repurchase of Shares received by the Distributor since the last report, the amount to be paid for such Shares and the identity of the shareholders offering Shares for repurchase. The Trust reserves the right to suspend such repurchase right upon written notice to the Distributor. The Distributor further agrees to act as agent for the Trust to receive and transmit promptly to the Trust’s transfer agent, shareholder requests for redemption of Shares. G. The Distributor may, in its discretion, enter into agreements with such qualified broker-dealers as it may select, in order that such broker-dealers also may sell Shares of the Fund. The form of any dealer agreement shall be approved by the Trust. To the extent there is a sales charge in effect, the Distributor shall pay the applicable sales charge (or portion thereof), or allow a discount, to the selling broker-dealer, as described in the Prospectus. H. The Distributor shall devote its best efforts to effect sales of Shares of the Fund but shall not be obligated to sell any certain number of Shares. I. The Distributor shall prepare reports for the Board regarding its activities under this Agreement as from time to time shall be reasonably requested by the Board, including reports regarding the use of any 12b-1 payments received by the Distributor. J. The Distributor agrees to advise the Trust promptly in writing of the initiation of any proceedings against it by the SEC or its staff, the NASD or any state regulatory authority. K. The Distributor shall monitor amounts paid under Rule 12b-1 plans and pursuant to sales loads to ensure compliance with applicable NASD rules.

  • Authority and Duties of the Owner Trustee ACTION BY CERTIFICATEHOLDERS

  • POWERS AND DUTIES OF DIRECTORS Subject to the Companies Act, these Articles and to any resolutions passed in a general meeting, the business of the Company shall be managed by the Directors, who may pay all expenses incurred in setting up and registering the Company and may exercise all powers of the Company. No resolution passed by the Company in general meeting shall invalidate any prior act of the Directors that would have been valid if that resolution had not been passed.

  • POWERS AND DUTIES OF CUSTODIAN AND DOMESTIC SUBCUSTODIAN Except for Assets held by any Subcustodian appointed pursuant to Sections 5(b), (c), or (d) of this Agreement, the Custodian shall have and perform the powers and duties hereinafter set forth in this Section 4. For purposes of this Section 4 all references to powers and duties of the "Custodian" shall also refer to any Domestic Subcustodian appointed pursuant to Section 5(a).

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