Common use of Acting on Direction Clause in Contracts

Acting on Direction. The Custodian shall act on the Account Owner’s Investment Decisions for transfers, investments and distributions of assets/ investments when the Account Owner has submitted directions in the manner required by Custodian. Custodian may also act on Account Owner’s Investment Decisions submitted by your Authorized Agent and any other authority granted by the Account Owner in compliance with Custodian’s then current policies and procedures. The Custodian is not responsible for losses or damages resulting from the delay of acting on an Account Owner’s Investment Decision if the direction is unclear, incomplete and not in acceptable form to the Custodian. The Custodian has no responsibility to question any Account Owner’s Investment Decisions received in good order from the Account Owner or your Authorized Agent. When the Custodian is directed to invest in assets in accordance with Account Owner’s Investment Decisions, including assets that are not publicly traded, the Custodian shall not have any responsibility or liability of the entity or the broker/agent involved does not settle the trade in accordance with the trade executed by the account owner.