– TERMS AND CONDITIONS OF DESIGNATED REPRESENTATIVE Sample Clauses

– TERMS AND CONDITIONS OF DESIGNATED REPRESENTATIVE. 1. The Participant, by providing such information in any form or manner that is otherwise acceptable to PENSCO Trust, may designate a representative (“Designated Representative”) through whom PENSCO Trust shall be authorized to accept investment instructions for the custodial account. The Participant (and not PENSCO Trust) shall be responsible for investigating, selecting, instructing and monitoring the Designated Represen- tative and to perform whatever investigation or due diligence as may be appropriate before selecting, designating or retaining the Designated Representative. The Designated Representa- tive shall be the authorized agent of the Depositor and shall not be treated for any purpose as an employee, agent or affiliate of PENSCO Trust, or as controlled, approved, recommended or endorsed by PENSCO Trust. PENSCO Trust shall have no duty to, and shall not supervise or monitor the Designated Repre- sentative or any investment transactions the Designated Repre- sentative instructs PENSCO Trust to make. PENSCO Trust may construe any and all investments and transactions requested or directed by the Designated Representative, whether writ- ten, or oral, as having been duly authorized by the Participant if the Participant has appointed a Designated Representative for the custodial account. PENSCO Trust is authorized to notify the Designated Representative of any investment instructions received from the Participant; unless the Participant specifically notifies PENSCO Trust NOT to do so in writing, or PENSCO Trust is prohibited from doing so by law. PENSCO Trust will not be responsible for any consequences of such notification. The Participant may remove a Designated Representative by written notice to PENSCO Trust, provided, however, that removal of a Designated Representative shall not have the effect of cancel- ling any notice, instruction, direction or approval received by PENSCO Trust from the removed Designated Representative before PENSCO Trust has received written notice of removal of the Designated Representative and has had a reasonable opportunity to implement such cancellation.
Sample 1
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Related to – TERMS AND CONDITIONS OF DESIGNATED REPRESENTATIVE

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