Common use of Use of Nominees Clause in Contracts

Use of Nominees. Custodian, a Securities Depository and/or a Sub-Custodian acting hereunder may register Securities in the names of their respective nominees. Client shall have the right to approve use of a nominee hereunder, which approval shall not be withheld unreasonably. Use of a nominee shall require that either (i) Custodian provide Client with an affidavit from an officer of Custodian describing the legal structure of the nominee, and identifying the nominee's officers, directors or partners, as applicable ("Nominee Affidavit") or (ii) that the parties hereto specify any nominees' legal structure in Schedule 4.5 to this Agreement. Custodian shall follow the instructions of Client with respect to any required filing of a Nominee Affidavit with the Regulatory Authorities. Client agrees to hold Custodian, any Sub-Custodian, any Securities Depository and their respective approved nominees harmless from any liability incurred solely by virtue of being shareholder of record of any Securities.