Agents and Subcustodians Clause Samples

Agents and Subcustodians. The Bank may employ agents in the performance of its duties hereunder and shall be responsible for the acts and omissions of such agents as if performed by the Bank hereunder. Upon receipt of Proper Instructions, the Bank may employ subcustodians in accordance with such instructions, provided that any such subcustodian meets at least the minimum qualifications required by Section 17(f) of the Act to act as a custodian of any Portfolio of the Trust's assets, and provided further that the Bank shall have no more or less responsibility to any Portfolio of the Trust on account of any actions or omissions of any subcustodian so employed than any such subcustodian has to the Bank, provided that the liability limitations have been disclosed to the Trust. At the election of the Trust, it shall be entitled to be subrogated to the rights of the Bank with respect to any claims against a subcustodian as a consequence of any such loss, damage, cost, expense, liability or claim if and to the extent that any Portfolio or the Trust has not been made whole for any such loss, damage, cost, expense, liability or claim. The affected Portfolio(s) of the Trust shall pay all appropriately apportioned fees and expenses of any subcustodian.
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Agents and Subcustodians. Prime Broker may execute any of its duties and exercise any of its rights under any Contract by or through agents (including affiliates) or employees, including arrangements pursuant to which certain of Customer’s securities may be held by subcustodians, banks, financial institutions, clearing organizations and depositories inside or outside the United States. Prime Broker shall use reasonable care to select and appoint agents and shall not be liable for the acts or omissions of any such agent except the acts and omissions of the BofAML Entities.
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Agents and Subcustodians. ML Pro may execute any of its duties and exercise any of its rights under any Contract by or through agents (including affiliates) or employees, including arrangements pursuant to which certain of Customer’s securities may be held by subcustodians, banks, financial institutions, clearing organizations and depositories inside or outside the United States. ML Pro shall use reasonable care to select and appoint agents and shall not be liable for the acts or omissions of any such agent except the acts and omissions of the BofAML Entities.
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Agents and Subcustodians. 17 13.3 Duties of the Bank with Respect to Property Held Outside of the United States................. 18 13.4 Insurance........................................... 21 13.5 Fees and Expenses of Bank........................... 21 13.6 Advances by Bank................................... 21 14. Termination........................................................ 22 15. Confidentiality.................................................... 22 16. Notices............................................................ 23
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Agents and Subcustodians. The Bank may employ agents in the performance of its duties hereunder and shall be responsible for the acts and omissions of such agents as if performed by the Bank hereunder. Upon receipt of Proper Instructions, the Bank may employ subcustodians with respect to domestic Portfolio Securities, provided that any such subcustodian meets at least the minimum qualifications required by Section 17(f)(1) of the Act to act as a custodian of the Fund's assets. Provided the Bank has received a certified copy of a resolution of the Board specifically approving the appointment of an Eligible Foreign Custodian and the depositing of Portfolio Securities which are Foreign Securities therewith and the Bank has not received an Officer's Certificate indicating that such approval has been withdrawn, the Bank may deposit such Foreign Securities and cash with such Eligible Foreign Custodian, as a subcustodian hereunder, in accordance with Schedule A hereto. The Bank shall have the same liability to the Fund on account of any actions or omissions of any sub-custodian so employed as any such sub-custodian has to the Bank. The Fund shall indemnify the Bank and hold it harmless from and against any and all actions, suits and claims, arising directly or indirectly out of the performance of any subcustodian. Upon request of the Bank, the Fund shall assume the entire defense of any action, suit, or claim subject to the foregoing indemnity. The Fund shall pay all fees and expenses of any subcustodian. The Bank shall use its best efforts to provide the Fund with information described in the "NOTES" to Rule 17f-5 and such other similar information as the Fund may reasonably request to assist its Board of Directors to satisfy their obligation under such Rule. In addition, the Bank shall use its best efforts to provide the Fund with prompt notice of any material change in information previously provided to the Fund pursuant to this Section 12-2 or any material changes in the facts or circumstances upon which such information is based.
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Agents and Subcustodians. 18 13.3 Insurance.............................................. 18 13.4 Fees and Expenses of Bank.............................. 18 13.5
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Agents and Subcustodians. (a) The Bank may employ agents in the performance of its duties hereunder and shall be responsible for the acts and omissions of such agents as if performed by the Bank hereunder.
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Agents and Subcustodians. The Custodian may employ agents in the performance of its duties hereunder and shall be responsible for the acts and omissions of such agents as if performed by the Custodian hereunder. Upon receipt of Proper Instructions, the Custodian may employ subcustodians, provided that any such subcustodian meets at least the minimum qualifications required by Section
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Agents and Subcustodians. 15.3 Insurance........................................ 15.4
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Related to Agents and Subcustodians

  • Interim Subcustodians Notwithstanding the provisions of Section 5.01 to the contrary, the Custodian shall not be liable to a Fund for any loss, damage or expense suffered or incurred by such Fund or any of its Portfolios resulting from the actions or omissions of an Interim Subcustodian unless such loss, damage or expense is caused by, or results from, the negligence, misfeasance or misconduct of the Custodian; provided however, in the event of any such loss, damage or expense, the Custodian shall take all reasonable steps to enforce such rights as it may have against such Interim Subcustodian to protect the interests of the Funds and the Portfolios.

  • SUBCUSTODIANS From time to time, in accordance with the relevant provisions of this Agreement, (i) the Custodian may appoint one or more Domestic Subcustodians, Foreign Subcustodians, Special Subcustodians or Interim Subcustodians (each as hereinafter defined) to act on behalf of any one or more Funds; and (ii) the Custodian may be directed, pursuant to an agreement between a Fund and the Custodian (“Delegation Agreement”), to appoint a Domestic Subcustodian to perform the duties of the Foreign Custody Manager (as such term is defined in Rule 17f-5 under the 1940 Act) (“Approved Foreign Custody Manager”) for such Fund so long as such Domestic Subcustodian is so eligible under the 1940 Act. Such Delegation Agreement shall provide that the appointment of any Domestic Subcustodian as the Approved Foreign Custody Manager must be governed by a written agreement between the Custodian and the Domestic Subcustodian, which provides for compliance with Rule 17f-5. The Approved Foreign Custody Manager may then appoint a Foreign Subcustodian or Interim Subcustodian in accordance with this Section 5. For purposes of this Agreement, all Domestic Subcustodians, Special Subcustodians, Foreign Subcustodians and Interim Subcustodians shall be referred to collectively as “Subcustodians.”

  • Foreign Subcustodians and Interim Subcustodians (a) (1) Delegation of Directors/Trustees Review of Subcustodians. From time to time, the Custodian may agree to perform certain reviews of Subcustodians and of Subcustodian Contracts as delegate of the Fund's Directors/Trustees. In such event, the Custodian's duties and obligations with respect to this delegated review will be performed in accordance with the terms of the attached 17f-5 Delegation Schedule to this Agreement.

  • Special Subcustodians Upon receipt of Special Instructions, the Custodian shall, on behalf of a Fund, appoint one or more banks, trust companies or other entities designated in such Special Instructions to act for the Custodian on behalf of such Fund as a subcustodian for purposes of: (i) effecting third-party repurchase transactions with banks, brokers, dealers or other entities through the use of a common custodian or subcustodian; (ii) providing depository and clearing agency services with respect to certain variable rate demand note Securities, (iii) providing depository and clearing agency services with respect to dollar denominated Securities; and (iv) effecting any other transactions designated by such Fund in such Special Instructions. Each such designated subcustodian (hereinafter referred to as a "Special Subcustodian") shall be listed on Appendix A attached hereto, as it may be amended from time to time. In connection with the appointment of any Special Subcustodian, the Custodian may enter into a subcustodian agreement with the Special Subcustodian.

  • Subcustodians and Securities Depositories Subject to the provisions hereinafter set forth in this Section 8, the Fund hereby authorizes the Custodian to utilize Securities Depositories to act on behalf of the Fund and to appoint from time to time and to utilize Subcustodians. With respect to securities and funds held by a Subcustodian, either directly or indirectly (including by a Securities Depository or Clearing Corporation), notwithstanding any provisions of this Agreement to the contrary, payment for securities purchased and delivery of securities sold may be made prior to receipt of securities or payment, respectively, and securities or payment may be received in a form, in accordance with (a) governmental regulations, (b) rules of Securities Depositories and clearing agencies, (c) generally accepted trade practice in the applicable local market, (d) the terms and characteristics of the particular Investment, or (e) the terms of Instructions.