Limitations in respect of Directions. The Trustee shall act in accordance with Directions, and shall be fully protected and absolved from any liability arising therefrom. Further, notwithstanding anything else in this Master Trust Agreement, the Trustee shall not be required to comply with Directions to settle the purchase of any securities on behalf of the Fund unless there is sufficient cash in the Fund at the time, nor shall the Trustee be required to comply with Directions to settle the sale of any securities on behalf of the Fund unless such securities are in deliverable form. If the Trustee is not provided with Directions when required hereunder, then the Trustee shall be fully protected and absolved from any liability arising from the failure to act in the absence of Directions.
Appears in 6 contracts
Sources: Master Trust Agreement, Master Trust Agreement, Master Trust Agreement
Limitations in respect of Directions. The Trustee shall act in accordance with Directions, and shall be fully protected and absolved from any liability arising therefrom. Further, notwithstanding anything else in this Master Trust Agreement, the Trustee shall not be required to comply with Directions to settle the purchase of any securities on behalf of the Fund unless there is sufficient cash in the Fund at the time, nor shall the Trustee be required to comply with Directions to settle the sale of any securities on behalf of the Fund unless such securities are in deliverable form. If the Trustee is not provided with Directions when required hereunder, then the Trustee shall be fully protected and absolved from any liability arising from the failure to act in the absence of Directions.
Appears in 1 contract
Sources: Master Trust Agreement