Common use of BE IT FURTHER RESOLVED THAT Clause in Contracts

BE IT FURTHER RESOLVED THAT. the Corporation approves the form of Custody Agreement presented to this meeting and authorizes the president or vice president to execute in behalf of the Corporation an agreement in substantially such form with the said Bank of New York; and BE IT FURTHER RESOLVED, That one of the Corporation officers, together with the Treasurer, be and they hereby are authorized to open and maintain accounts with Bank of New York as such officers may deem satisfactory for the handling of Corporation business; and BE IT FURTHER RESOLVED, That the officers of the Corporation are authorized to give instructions to Bank of New York as are necessary for the carrying out of the custodial relationship and that any two of these officers may designate in writing additional staff members as individuals authorized to provide information and give such instructions to Bank of New York as may be necessary for the carrying out of the daily operational aspects of the custodial relationship; and BE IT FURTHER RESOLVED, That the Board of Directors approves of the use by the custodian for the assets of the Corporation or by any agent of the custodian, of Depository Trust Company, Participants Trust Company and the Federal Book-Entry System for the deposit of securities of the Corporation; and BE IT FURTHER RESOLVED, That the Bank of New York, as Custodian pursuant to a Custody Agreement between The Bank of New York and the Corporation (the "Custody Agreement") is authorized and instructed on a continuous and ongoing basis to utilize the Federal Book-Entry System, as defined in the Custody Agreement, all securities eligible for deposit and to utilize the Book-Entry System to the extent possible in connection with its performance thereunder, including, without limitation, in connection with settlements of purchases and sales of securities, loans of securities, and deliveries and returns of securities collateral; and BE IT FURTHER RESOLVED, That the Bank of New York as Custodian pursuant to a Custody Agreement between The Bank of New York and the Corporation is authorized and instructed on a continuous and ongoing basis until such time as it receives a Certificate, as defined in the Custody Agreement, to the contrary, to deposit with Depository Trust Company as Depository, as defined in the Custody Agreement, all securities eligible for deposit therein, and to utilize the Depository to the extent possible in connection with its performance thereunder, including, without limitation, in connection with settlements of purchases and sales of securities, loans of securities, and deliveries and returns of securities collateral; and BE IT FURTHER RESOLVED, That the Bank of New York, as Custodian pursuant to a Custody Agreement between The Bank of New York and the Corporation is authorized and instructed on a continuous and ongoing basis until such time as it receives a Certificate, as defined in the Custody Agreement, to the contrary, to deposit in the Participants Trust Company as Depository, as defined in the Custody Agreement, all securities eligible for deposit therein, and to utilize the Participants Trust Company to the extent possible in connection with its performance thereunder, including, without limitation, in connection with settlements of purchases and sales of securities, loans of securities, and deliveries and returns of securities collateral; and BE IT FURTHER RESOLVED, That the Bank of New York, as Custodian pursuant to a Custody Agreement between The Bank of New York and the Corporation is authorized and instructed on a continuous and ongoing basis until such time as it receives a Certificate, as defined in the Custody Agreement, to the contrary, to accept, utilize and act with respect to Clearing Member confirmations for Options and transaction in Options, as such terms are defined in the Custody Agreement, as provided in the Custody Agreement; and BE IT FURTHER RESOLVED, That authority be granted to the officers of the Corporation for the signing of the Corporation's checks and orders for the payment of money. Any check for Two Hundred Thousand Dollars ($200,000) or less shall require the signature of only one of the officers. Any check over Two Hundred Thousand Dollars ($200,000) shall require two signatures; and BE IT FURTHER RESOLVED, That in connection with Corporation bank and custody accounts, any two Corporation officers be and they hereby are authorized to provide for the withdrawal and transfer of funds by verbal and written disbursement instruction, coded automatic telephone transmission, electronic funds transfer, secret authenticating codes for wire transfer, and such other means as necessary in the transfer of funds from any of the Corporation's accounts, according to a written plan establishing controls filed with the Secretary of the Corporation, subject, however, to any specific limitations in resolutions with respect to persons authorized to withdraw or transfer funds and the amounts thereof; and BE IF FURTHER RESOLVED, That the Bank of New York, as Custodian pursuant to a Custody Agreement between The Bank of New York and the Corporation, is authorized and instructed on a continuous and ongoing basis to act in accordance with, and to rely on Instructions (as defined in the Custody Agreement); and