Examples of Proper Instructions in a sentence
Upon Proper Instructions, the Custodian will open and maintain one or more Disbursement Accounts to facilitate the operation of the Program and from time to time shall pay funds on deposit in such accounts in accordance with Proper Instructions, which instructions may be of a continuing nature and, in such case, may be relied upon by the Custodian for all similar purposes until revoked in writing by the Investment Administrator.
Upon actual receipt by the Custodian of warrants or rights issued in connection with the assets of the Portfolios, the Custodian shall enter on its ledgers appropriate notations indicating such receipt and shall forward notice thereof to the Investment Administrator, but shall have no obligation whatsoever to take any action of any kind with respect to such warrants or rights except upon receipt of Proper Instructions authorizing the exercise or sale of such warrants or rights.