Responsibilities Regarding Proxy Voting and Legal Proceedings Clause Samples
This clause defines the obligations of the parties concerning the exercise of proxy voting rights and participation in legal proceedings related to the subject matter of the agreement. It typically outlines which party is authorized to vote on behalf of others in shareholder meetings or similar contexts, and who is responsible for managing or responding to legal actions, such as lawsuits or regulatory inquiries. By clearly assigning these responsibilities, the clause ensures that there is no confusion over who acts on behalf of the parties in important decisions or legal matters, thereby reducing the risk of disputes and ensuring efficient management of such situations.
Responsibilities Regarding Proxy Voting and Legal Proceedings. Sub-Adviser will not be required to take any action with respect to the voting of proxies solicited by or with respect to the issuers of securities in the Model Portfolio. Additionally, responsibility to initiate, consider or participate in any bankruptcy, class action or other litigation against or involving any issuer of securities held in or formerly held in the Funds’ account or to advise or take any action with respect to any litigation shall remain with Adviser, and Sub-Adviser shall not have any responsibility to, and shall not, initiate, consider or participate in any such matters on behalf of Adviser or the Fund’s account However, Sub-Adviser shall reasonably consult with Adviser at Adviser’s request in this regard.
Responsibilities Regarding Proxy Voting and Legal Proceedings