Common use of Protection of Provident Clause in Contracts

Protection of Provident. Provident shall be protected in any action it takes or does not take in reliance upon directions, advice or Oral or Written Instructions it receives from the Fund or from counsel and which Provident believes, in good faith, to be consistent with those directions, advice or Oral or Written Instructions. Nothing in this paragraph shall be construed so as to impose an obligation upon Provident (i) to seek such directions, advice or Oral or Written Instructions, or (ii) to act in accordance with such directions, advice or Oral or Written Instructions unless, under the terms of other provisions of this Agreement, the same is a condition of Provident's properly taking or not taking such action.

Appears in 2 contracts

Samples: Custodian Services Agreement (American Skandia Trust), Paying and Transfer Agency Agreement (Greater China Fund Inc)

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Protection of Provident. Provident shall be protected in any action it takes or does not take in reliance upon directions, advice or Oral or Written Instructions it receives from the Fund or from counsel to the Fund and which Provident believes, in good faith, to be consistent with those directions, advice or Oral or Written Instructions. Nothing in this paragraph shall be construed so as to impose an obligation upon Provident (i) to seek such directions, advice or Oral or Written Instructions, or (ii) to act in accordance with such directions, advice or Oral or Written Instructions unless, under the terms of other provisions of this Agreement, the same is a condition of Provident's properly taking or not taking such action.

Appears in 1 contract

Samples: Custodian Services Agreement (Schwab Charles Family of Funds)

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Protection of Provident. Provident shall be protected in any action it takes or does not take in reliance upon directions, advice or Oral or Written Instructions it receives from the Fund or from counsel to the Fund and which Provident believes, in good faith, to be consistent with those directions, advice or Oral or Written Instructions. Nothing in this paragraph shall be construed so as to impose an obligation upon Provident (i) to seek such directions, advice or Oral or Written Instructions, or (ii) to act in accordance with such directions, directions advice or Oral or Written Instructions unless, unloose under the terms of other provisions of this Agreement, the same is in a condition of Provident's properly taking or not taking such action.

Appears in 1 contract

Samples: Custodian Services Agreement (Schwab Investments)

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