Common use of Reserving for Expenses Clause in Contracts

Reserving for Expenses. The Master Custodial Administration Agreement Administrator may reserve such sums as it deems necessary to defray its expenses in settling its accounts, to pay any of its compensation due and unpaid, and to discharge any obligations of the Master Custodial Administration Agreement for which the Master Custodial Administration Agreement Administrator may be liable; but if the sums so reserved are not sufficient for those purposes, the Master Custodial Administration Agreement Administrator shall be entitled to recover the amount of any deficiency from either the Employer, the successor Master Custodial Administration Agreement Administrator, or both.