Common use of Instructions Generally Clause in Contracts

Instructions Generally. All Instructions from Goldman to Northern shall conform to the procedures in general use by Northern, provided that (i) Northern shall have informed Goldman of such procedures in writing prior to the date of this Agreement; (ii) Northern shall inform Goldman in writing at least ten Business Days in advance of any changes in such procedures; and (iii) such procedures are not inconsistent with the terms of this Agreement. Different persons may be authorized by Goldman to give Instructions for different purposes, and Instructions may be general or specific in terms. Written advice signed by a general partner of Goldman may be received and accepted by Northern as conclusive evidence of the authority of an employee of Goldman (an “authorized employee”) to (iv) give Instructions of the class or classes so designated, (v) receive security information of the type or types so designated or (vi) advise Northern as to additional persons who are authorized to (A) give Instructions of the class or classes so designated or (B) receive security information of the type or types so designated. Written advice signed by an employee of Goldman given the authority described in clause (vi) of the preceding sentence may be received and accepted by Northern as conclusive evidence of the authority of any additional persons to (vii) give Instructions of the class or classes so designated or (viii) received security information of the type or types so designated. The written advice described in the two preceding sentences may be considered by Northern to be in full force and effect until receipt of written or telephonic Instructions to the contrary. Any such telephonic Instruction will be confirmed by Goldman in writing within five Business Days. If such Instruction is not so confirmed, the validity of the Instruction shall not be affected and Northern shall use its best efforts to promptly request that such Instruction be so confirmed.

Appears in 1 contract

Sources: Wiring Agreement (Goldman Sachs Trust)

Instructions Generally. All Instructions from Goldman to Northern ---------------------- shall conform to the procedures in general use by Northern, provided that (i) Northern shall have informed Goldman of such procedures in writing prior to the date of this Agreement; (ii) Northern shall inform Goldman in writing at least ten Business Days in advance of any changes in such procedures; and (iii) such procedures are not inconsistent with the terms of this Agreement. Different persons may be authorized by Goldman to give Instructions for different purposes, and Instructions may be general or specific in terms. Written advice signed by a general partner of Goldman may be received and accepted by Northern as conclusive evidence of the authority of an employee of Goldman (an "authorized employee") to (iv) give Instructions of the class or classes so designated, (v) receive security information of the type or types so designated or (vi) advise Northern as to additional persons who are authorized to (A) give Instructions of the class or classes so designated or (B) receive security information of the type or types so designated. Written advice signed by an employee of Goldman given the authority described in clause (vi) of the preceding sentence may be received and accepted by Northern as conclusive evidence of the authority of any additional persons to (vii) give Instructions of the class or classes so designated or (viii) received receive security information of the type or types so designated. The written advice described in the two preceding sentences may be considered by Northern to be in full force and effect until receipt of or written or telephonic Instructions to the contrary. Any such telephonic Instruction will be confirmed by Goldman in writing within five Business Days. If such Instruction is not so confirmed, the validity of the Instruction shall not be affected and Northern shall use its best efforts to promptly request that such Instruction be so confirmed.

Appears in 1 contract

Sources: Wiring Agreement (Goldman Sachs Trust)