Collection Where Payment Refused. The Bank shall not be under any duty or obligation to take action to effect collection of any amount, if the Securities upon which such amount is payable are in default, or if payment is refused after due demand or presentation, unless and until (a) it shall be directed to take such action by Written Instructions and (b) it shall be assured to its satisfaction of reimbursement of its costs and expenses in connection with any such action.
Appears in 17 contracts
Sources: Custody Agreement (Variable Insurance Funds), Custody Agreement (Variable Insurance Funds), Mutual Fund Custody Agreement (Bishop Street Funds)
Collection Where Payment Refused. The Bank shall not be under any duty or obligation to take action to effect collection of any amount, if the Securities upon which such amount is payable are in default, or if payment is refused after due demand or presentation, unless and until (a) it shall be directed to take such action by Written Instructions, or Oral Instructions confirmed by Written Instructions, and (b) it shall be assured to its satisfaction of reimbursement of its costs and expenses in connection with any such action.
Appears in 2 contracts
Sources: Custody Agreement (Armstrong Associates Inc), Custody Agreement (Parkstone Advantage Fund)
Collection Where Payment Refused. The Bank shall not be under any duty or obligation to take action to effect collection of any amount, if the Securities upon which such amount is payable are in default, or if payment is refused after due demand or presentation, unless and until (a) it shall be directed to take such action by Written Instructions from MCM and (b) it shall be assured to its satisfaction of reimbursement of its costs and expenses in connection with any such action.
Appears in 1 contract
Collection Where Payment Refused. The Bank shall not be ------------------------------------------ under any duty or obligation to take action to effect collection of any amount, if the Securities upon which such amount is payable are in default, or if payment is refused after due demand or presentation, unless and until (a) it shall be directed to take such action by Written Instructions and (b) it shall be assured to its satisfaction of reimbursement of its costs and expenses in connection with any such action.
Appears in 1 contract
Sources: Mutual Fund Custody Agreement (North Track Funds Inc)