Appointment of Foreign Subcustodians Sample Clauses

The "Appointment of Foreign Subcustodians" clause authorizes a custodian to select and engage subcustodians located in foreign jurisdictions to hold and safeguard assets on behalf of the client. In practice, this means that when assets are invested or held in countries outside the custodian's home country, the custodian can delegate the safekeeping of those assets to reputable local institutions that meet certain standards. This clause is essential for facilitating international investment and asset management, as it ensures that assets can be properly held and protected in multiple jurisdictions while clarifying the responsibilities and oversight involved in such arrangements.
Appointment of Foreign Subcustodians. State Street is authorized and instructed to employ as Subcustodians for the Fund's securities and other assets maintained outside of the United States, the foreign banking institutions and foreign securities depositories designated on Schedule B hereto as revised from time to time ("Foreign Subcustodians"). Upon receipt of Proper Instructions, together with a certified resolution of the Fund's Board of Trustees, State Street and the Fund may agree to amend Schedule B hereto from time to time to designate additional foreign banking institutions and foreign securities depositories to act as Foreign Subcustodians. Upon receipt of Proper Instructions, the Fund may instruct State Street to cease the employment of any one or more of such Subcustodians for maintaining custody of the Fund's assets.
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Appointment of Foreign Subcustodians. State Street is authorized and instructed to employ as Subcustodians for the Fund's securities and other assets maintained outside of the United States the foreign banking institutions and foreign securities depositories designated on Schedule C hereto ("Foreign Subcustodians"). Upon receipt of proper instructions, together with a certified resolution of the Fund's Board of Trustees, State Street and the Fund may agree to amend Schedule C hereto from time to time to designate additional foreign banking institutions and foreign securities depositories to act as Foreign Subcustodians. Upon receipt of proper instructions from the Fund, State Street shall cease the employment of any one or more of such Subcustodians for maintaining custody of the Fund's assets.
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Appointment of Foreign Subcustodians. The Trust hereby authorizes and instructs the Custodian to employ as subcustodians for the Fund’s securities and other assets maintained outside the United States the foreign banking institutions and foreign securities depositories designated on Schedule A hereto (“foreign subcustodians”). Upon receipt of “Proper Instructions”, as defined in Section 5 of this Contract, together with a certified resolution of the Trust’s Board of Trustees, the Custodian and the Trust may agree to amend Schedule A hereto from time to time to designate additional foreign banking institutions and foreign securities depositories to act as subcustodian. Upon receipt of Proper Instructions, the Trust may instruct the Custodian to cease the employment of any one or more such subcustodians for maintaining custody of the Fund’s assets.
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Appointment of Foreign Subcustodians. The Fund hereby authorizes and instructs the Custodian to employ as subcustodians for the Fund's securities and other assets maintained outside the United States the foreign banking institutions and foreign securities depositories designated on Schedule A hereto ("foreign subcustodians").
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Appointment of Foreign Subcustodians. The Company hereby authorizes and instructs the Bank to employ as subcustodians for the Company's Portfolio Securities and other assets maintained outside the United States the foreign banking institutions and foreign securities depositories designated on the Schedule attached hereto (each, a "Selected Foreign Subcustodian"). Upon receipt of Proper Instructions, the Bank and the Company may agree to designate additional foreign banking institutions and foreign securities depositories to act as Selected Foreign Subcustodians hereunder. Upon receipt of Proper Instructions, the Company, upon recommendation of the Bank, may instruct the Bank to cease the employment of any one or more such Selected Foreign Subcustodians for maintaining custody of the Company's assets, and the Bank shall so cease to employ such subcustodian as soon as alternate custodial arrangements have been implemented.
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Appointment of Foreign Subcustodians. State Street is authorized and instructed to employ as Subcustodians for the Fund's securities and other assets maintained outside of the United States the foreign banking institutions and foreign securities depositories designated on Schedule C hereto ("Foreign Subcustodians"). Upon receipt of Proper Instructions, together with a certified resolution of the Fund's Board of Trustees, State Street and the Fund may agree to amend Schedule C hereto from time to time to designate additional foreign banking institutions and foreign securities depositories to act as Foreign Subcustodians. Upon receipt of Proper Instructions from the Fund, State Street shall cease the employment of any one or more of such Subcustodians for maintaining custody of the Fund's assets.
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Appointment of Foreign Subcustodians. The Fund hereby authorizes and instructs the Custodian to employ as subcustodians for the Fund's securities and other assets maintained outside the United States the foreign banking institutions, foreign trust companies, foreign securities depositories, and foreign clearing agencies designed at Schedule A hereto ("foreign subcustodians"). Upon receipt of "Proper Instructions", as defined in Section 9 of the Custodian Agreement, together with a certified resolution of the Fund's Board of Trustees, the Custodian and the Fund may agree to amend Schedule A hereto from time to time to designate additional foreign banking institutions, foreign trust companies, foreign securities depositories and foreign clearing agencies to act as subcustodians. Upon receipt of Proper Instructions, the Fund may instruct the Custodian to cease the employment of any one or more of such subcustodians for maintaining custody of the Fund's assets.
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Related to Appointment of Foreign Subcustodians

  • Appointment of Foreign Sub-Custodians The Fund hereby authorizes and instructs the Custodian to employ as sub-custodians for the Portfolio's securities and other assets maintained outside the United States the foreign banking institutions and foreign securities depositories designated on Schedule A hereto ("foreign sub-custodians"). Upon receipt of "Proper Instructions", as defined in Section 5 of this Contract, together with a certified resolution of the Fund's Board of Trustees, the Custodian and the Fund may agree to amend Schedule A hereto from time to time to designate additional foreign banking institutions and foreign securities depositories to act as sub-custodian. Upon receipt of Proper Instructions, the Fund may instruct the Custodian to cease the employment of any one or more such sub-custodians for maintaining custody of the Portfolio's assets.

  • Board Approval of Foreign Subcustodians Unless and except to the extent that the Board has delegated to the Custodian and the Custodian has accepted delegation of review of certain matters concerning the appointment of Subcustodians pursuant to Subsection 8.3, the Custodian shall, prior to the appointment of any Subcustodian for purposes of holding Investments of the Fund outside the United States, obtain written confirmation of the approval of the Board of Trustees or Directors of the Fund with respect to (a) the identity of a Subcustodian, and (b) the Subcustodian agreement which shall govern such appointment, such approval to be signed by an Authorized Person. An Instruction to open an account in a given country shall comprise authorization of the Custodian to hold assets in such country in accordance with the terms of this Agreement. The Custodian shall not be required to make independent inquiry as to the authorization of the Fund to invest in such country.

  • Appointment of Subcustodians The Custodian is hereby authorized to appoint one or more domestic subcustodians (which may be an affiliate of the Custodian) to hold Securities and monies at any time owned by the Fund. The Custodian is also hereby authorized when acting pursuant to Instructions to: 1) place Assets with any Foreign Custodian located in a jurisdiction which is not a Selected Country and with Euroclear, Clearstream, or any other transnational depository; and 2) place Assets with a broker or other agent as subcustodian in connection with futures, options, short selling or other transactions. When acting pursuant to such Instructions, the Custodian shall not be liable for the acts or omissions of any subcustodian so appointed.

  • Foreign Subcustodians The Custodian may at any time appoint, or cause a Domestic Subcustodian to appoint, any bank, trust company or other entity meeting the requirements of an "eligible foreign custodian" under Section 17(f) of the 1940 Act and the rules and regulations thereunder to act for the Custodian on behalf of any one or more Funds as a subcustodian or sub-subcustodian (if appointed by a Domestic Subcustodian) for purposes of holding Assets of the Fund(s) and performing other functions of the Custodian in countries other than the United States of America (hereinafter referred to as a "Foreign Subcustodian" in the context of either a subcustodian or a sub-subcustodian); provided that the Custodian shall have obtained written confirmation from each Fund of the approval of the Board of Directors or other governing body of each such Fund (which approval may be withheld in the sole discretion of such Board of Directors or other governing body or entity) with respect to (i) the identity of any proposed Foreign Subcustodian (including branch designation), (ii) the country or countries in which, and the securities depositories or clearing agencies (hereinafter "Securities Depositories and Clearing Agencies"), if any, through which, the Custodian or any proposed Foreign Subcustodian is authorized to hold Securities and other Assets of each such Fund, and (iii) the form and terms of the subcustodian agreement to be entered into with such proposed Foreign Subcustodian. Each such duly approved Foreign Subcustodian and the countries where and the Securities Depositories and Clearing Agencies through which they may hold Securities and other Assets of the Fund(s) shall be listed on Appendix A attached hereto, as it may be amended, from time to time. Each Fund shall be responsible for informing the Custodian sufficiently in advance of a proposed investment which is to be held in a country in which no Foreign Subcustodian is authorized to act, in order that there shall be sufficient time for the Custodian, or any Domestic Subcustodian, to effect the appropriate arrangements with a proposed Foreign Subcustodian, including obtaining approval as provided in this Section 5(b). In connection with the appointment of any Foreign Subcustodian, the Custodian shall, or shall cause the Domestic Subcustodian to, enter into a subcustodian agreement with the Foreign Subcustodian in form and substance approved by each such Fund. The Custodian shall not consent to the amendment of, and shall cause any Domestic Subcustodian not to consent to the amendment of, any agreement entered into with a Foreign Subcustodian, which materially affects any Fund's rights under such agreement, except upon prior written approval of such Fund pursuant to Special Instructions.

  • Appointment of Custodians The Trustee may, with the consent of the Depositor and the Master Servicer appoint one or more Custodians to hold all or a portion of the Mortgage Files as agent for the Trustee, by entering into a Custodial Agreement. The appointment of any Custodian may at any time be terminated and a substitute Custodian appointed therefor upon the reasonable request of the Master Servicer to the Trustee, the consent to which shall not be unreasonably withheld. The Trustee shall pay any and all fees and expenses of any Custodian in accordance with each Custodial Agreement (provided that if expenses of the kind that would be reimbursable to the Trustee pursuant to Section 8.05 if incurred by the Trustee are incurred by the Custodian, the Trustee shall be entitled to reimbursement under Section 8.05 for such kind of expenses to the extent the Trustee has paid such expenses on behalf of the Custodian or for which the Trustee has reimbursed the Custodian). The Trustee initially appoints the Custodian as Custodian, and the Depositor and the Master Servicer consent to such appointment. Subject to Article VIII hereof, the Trustee agrees to comply with the terms of each Custodial Agreement and to enforce the terms and provisions thereof against the Custodian for the benefit of the Certificateholders having an interest in any Mortgage File held by such Custodian. Each Custodian shall be a depository institution or trust company subject to supervision by federal or state authority, shall have combined capital and surplus of at least $10,000,000 and shall be qualified to do business in the jurisdiction in which it holds any Mortgage File. Each Custodial Agreement may be amended only as provided in Section 11.01. In no event shall the appointment of any Custodian pursuant to a Custodial Agreement diminish the obligations of the Trustee hereunder.