Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company error contained in any payment order sent by the Company to the Custodian. In the event that the Company's payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company so notifies the Custodian within thirty (30) business days following the Company's receipt of notice that such payment order had been processed. If a payment order in the name of the Company and accepted by the Custodian was not authorized by the Company, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 34 contracts
Samples: Custodian Agreement (Pioneer CoreTrust I), Custodian Agreement (Pioneer Securitized Income Fund), Custodian Agreement (Pioneer ILS Bridge Fund)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company Fund error contained in any payment order sent by the Company Fund to the Custodian. In the event that the Company's Fund’s payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Fund so notifies the Custodian within thirty (30) business days following the Company's Fund’s receipt of notice that such payment order had been processed. If a payment order in the name of the Company Fund and accepted by the Custodian was not authorized by the CompanyFund, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 20 contracts
Samples: Custodian Agreement (Alger ETF Trust), Custodian Agreement (Alger Institutional Funds), Custodian Agreement (Alger China-Us Growth Fund)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except So long as may be providedthe Custodian has satisfied the standard of care set forth in section 5.1 of this Agreement in processing a payment order instructed to it by or on behalf of the Fund, the Custodian is not responsible for detecting any Company Fund error contained in any payment order sent by the Company Fund to the Custodian. In the event that the Company's Fund’s payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Fund so notifies the Custodian within thirty (30) business days following the Company's Fund’s receipt of notice that such payment order had been processed. If a payment order in the name of the Company Fund and accepted by the Custodian was not authorized by the CompanyFund, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 18 contracts
Samples: Master Custodian Agreement (DWS Variable Series I), Master Custodian Agreement (DWS RREEF World Real Estate & Tactical Strategies Fund, Inc.), Master Custodian Agreement (DWS Investors Funds, Inc.)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be providedprovided in the Agreement, the Custodian is not responsible for detecting any Company Fund or General Partner error contained in any payment order sent by the Company Fund or the General Partner to the Custodian. In the event that the Company's Fund’s or the General Partner’s payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Fund and/or the General Partner so notifies the Custodian within thirty (30) business days Business Days following the Company's Fund’s and/or the General Partner’s receipt of notice that such payment order had been processed. If a payment order in the name of the Company Fund and accepted by the Custodian was not authorized by the CompanyFund or the General Partner, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 12 contracts
Samples: Custodian Agreement (United States 12 Month Natural Gas Fund, LP), Custodian Agreement (United States 12 Month Oil Fund, LP), Custodian Agreement (United States Natural Gas Fund, LP)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company error of the Trust contained in any payment order sent by the Company Trust to the Custodian. In the event that the Company's Trust’s payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Trust so notifies the Custodian within thirty (30) business days following the Company's Trust’s receipt of notice that such payment order had been processed. If a payment order in the name of the Company Trust and accepted by the Custodian was not authorized by the CompanyTrust, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 5 contracts
Samples: Custodian Agreement (Adviser Managed Trust), Custodian Agreement (Sei Institutional International Trust), Custodian Agreement (Sei Institutional Managed Trust)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company Fund error contained in any payment order sent by the Company Fund to the Custodian. In the event that the CompanyFund's payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Fund so notifies the Custodian within thirty (30) business days following the CompanyFund's receipt of notice that such payment order had been processed. If a payment order in the name of the Company and Fund accepted by the Custodian was not authorized by the CompanyFund, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 4 contracts
Samples: Custody Agreement (Pilgrim Worldwide Emerging Markets Fund Inc), Custody Agreement (Pilgrim Mutual Funds), Custodian Agreement (Pilgrim Troika Dialog Russia Fund Inc)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company Funds error contained in any payment order sent by the Company Funds to the Custodian. In the event that the Company's Funds' payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Funds so notifies notify the Custodian within thirty (30) business days following the Company's Funds' receipt of notice that such payment order had been processed. If a payment order in the name of the Company Funds and accepted by the Custodian was not authorized by the CompanyFunds, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 3 contracts
Samples: Custodian Agreement (Touchstone Strategic Trust), Custodian Agreement (Touchstone Investment Trust), Custodian Agreement (Touchstone Variable Series Trust)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company error contained in any payment order sent by the Company to the Custodian. In the event that the Company's ’s payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company so notifies the Custodian within thirty (30) business days following the Company's ’s receipt of notice that such payment order had been processed. If a payment order in the name of the Company and accepted by the Custodian was not authorized by the Company, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 3 contracts
Samples: Custodian Agreement (Shelton Greater China Fund), Custodian Agreement (AirShares(TM) EU Carbon Allowances Fund), Custodian Agreement (Taiwan Greater China Fund)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company Fund error contained in any payment order sent by the Company Fund to the Custodian. In the event that the Company's Fund’s payment order to the Custodian either (iI) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Fund so notifies the Custodian within thirty (30) business days following the Company's Fund’s receipt of notice that such payment order had been processed. If a payment order in the name of the Company Fund and accepted by the Custodian was not authorized by the CompanyFund, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 2 contracts
Samples: Custodian Agreement (PowerShares India Exchange-Traded Fund Trust), Custodian Agreement (PowerShares India Exchange-Traded Fund Trust)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company Fund or General Partner error contained in any payment order sent by the Company Fund or the General Partner to the Custodian. In the event that the Company's Fund’s or the General Partner’s payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Fund and/or the General Partner so notifies the Custodian within thirty (30) business days Business Days following the Company's Fund’s and/or the General Partner’s receipt of notice that such payment order had been processed. If a payment order in the name of the Company Fund and accepted by the Custodian was not authorized by the CompanyFund or the General Partner, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 2 contracts
Samples: Custodian Agreement (United States Oil Fund, LP), Custodian Agreement (United States Oil Fund, LP)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company error of the Trust contained in any payment order sent by the Company Trust to the Custodian. In the event that the CompanyTrust's payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Trust so notifies the Custodian within thirty (30) business days following the CompanyTrust's receipt of notice that such payment order had been processed. If a payment order in the name of the Company Trust and accepted by the Custodian was not authorized by the CompanyTrust, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 1 contract
Samples: Custodian Agreement (Sei Institutional Investments Trust)
Responsibility for the Detection of Errors and Unauthorized Payment Orders. Except as may be provided, the Custodian is not responsible for detecting any Company error of the Fund contained in any payment order sent by the Company Fund to the Custodian. In the event that the Company's Fund’s payment order to the Custodian either (i) identifies the beneficiary by both a name and an identifying or bank account number and the name and number identify different persons or entities, or (ii) identifies any bank by both a name and an identifying number and the number identifies a person or entity different from the bank identified by name, execution of the payment order, payment to the beneficiary, cancellation of the payment order or actions taken by any bank in respect of such payment order may be made solely on the basis of the number. The Custodian shall not be liable for interest on the amount of any payment order that was not authorized or was erroneously executed unless the Company Fund so notifies the Custodian within thirty (30) business days following the Company's Fund’s receipt of notice that such payment order had been processed. If a payment order in the name of the Company Fund and accepted by the Custodian was not authorized by the CompanyFund, the liability of the parties will be governed by the applicable provisions of UCC 4A.
Appears in 1 contract
Samples: Custodian Agreement (SEI Structured Credit Fund, LP)