Common use of WRITTEN AND ORAL INSTRUCTIONS Clause in Contracts

WRITTEN AND ORAL INSTRUCTIONS. Written Instructions as used throughout this Agreement mean a writing signed or initialed by one or more person or persons as the Board of Trustees shall have from time to time authorized. Each such writing shall set forth the specific transaction or type of transaction involved, including a specific statement of the purpose for which such action is requested. Oral Instructions will be considered proper instructions if NYLIM reasonably believes them to have been given by a person authorized to give such instructions with respect to the transaction involved. The Trust shall cause all Oral Instructions to be confirmed in writing. Upon receipt of a certificate of the Secretary or an Assistant Secretary as to the authorization by the Board of Trustees of the Trust, Oral Instructions may include communications effected directly between electromechanical or electronic devices provided that the Board of Trustees and NYLIM are satisfied that such procedures afford adequate safeguards for the Trust's assets.

WRITTEN AND ORAL INSTRUCTIONS. Written Instructions as used throughout this Agreement mean a writing signed or initialed initialled by one or more person or persons as the Board of Trustees shall have from time to time authorized. Each such writing shall set forth the specific transaction or type of transaction involved, including a specific statement of the purpose for which such action is requested. Oral Instructions will be considered proper instructions if NYLIM MMI reasonably believes them to have been given by a person authorized to give such instructions with respect to the transaction involved. The Trust shall cause all Oral Instructions to be confirmed in writing. Upon receipt of a certificate of the Secretary or an Assistant Secretary as to the authorization by the Board of Trustees of the Trust, Oral Instructions may include communications effected directly between electromechanical or electronic devices provided that the Board of Trustees and NYLIM MMI are satisfied that such procedures afford adequate safeguards for the Trust's assets.