Common use of Right to Take Action Clause in Contracts

Right to Take Action. Notwithstanding the provisions of Clause 5 and 6.7 above, the Custodian shall be entitled in its absolute discretion to take any action in relation to the Securities, including without limitation the exercise of rights attached thereto and the satisfaction of liabilities arising therefrom or any other action on behalf of the Customer which the Custodian considers is necessary or desirable to safeguard the Securities or further the Customer's interests in the event that no Instructions to the contrary are received or that circumstances make it impracticable for the Custodian to obtain any, or any timely, Instructions.