Common use of Transactions Requiring Instructions Clause in Contracts

Transactions Requiring Instructions. Upon receipt of Oral or Written Instructions and not otherwise, Provident shall: (a) execute and deliver to such persons as may be designated in such Oral or Written Instructions, proxies, consents, authorizations, and other instruments whereby the authority of the Fund as owner of any securities may be exercised; (b) deliver any securities held for the Fund in exchange for other securities or cash issued or paid in connection with the liquidation, reorganization, refinancing, merger, consolidation, recapitalization or sale (c) deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the liquidation, reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement such certificates of deposit, interim receipts or other instruments or documents as may be issued to it to evidence such delivery; (d) make such transfers or exchanges of the assets of the Fund and take such other steps as shall be stated in said Oral or Written Instructions to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation, recapitalization or sale of assets of the Fund; and (e) release securities belonging to the Fund to any bank or trust company for the purpose of pledge or hypothecation to secure any loan incurred by the Fund; provided, however, that securities shall be released only upon payment to Provident of the monies borrowed, except that in cases where additional collateral is required to secure a borrowing already made, subject to proper prior authorization, further securities may be released for that purpose; and pay such loan upon redelivery to it of the

Transactions Requiring Instructions. Upon receipt of Oral or Written Instructions and not otherwise, Provident Provident, directly or through the use of the Book-Entry System, shall: (a) execute and deliver to such persons as may be designated in such Oral or Written Instructions, proxies, consents, authorizations, and any other instruments whereby the authority of the Fund as owner of any securities may be exercised; (b) deliver any securities held for the Fund in exchange for other securities or cash issued or paid in connection with the liquidation, reorganization, refinancing, merger, consolidationconsolidation or recapitalization of any corporation, recapitalization or salethe exercise of any conversion privilege; (c) deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the liquidation, reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement such certificates of deposit, interim receipts receipt or other instruments or documents as may be issued to it to evidence such delivery; (d) make such transfers or exchanges of the assets of the Fund and take such other steps as shall be stated in said Oral or Written Instructions to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation, consolidation or recapitalization or sale of assets of the Fund; and (e) release securities belonging to the Fund to any bank or trust company for the purpose of pledge or hypothecation to secure any loan incurred by the Fund; provided, however, that securities shall be released only upon payment to Provident of the monies borrowed, except that in cases where additional collateral is required to secure a borrowing already made, subject to proper prior authorization, further securities may be released for that purpose; and pay such loan upon redelivery to it of thethe securities pledged or hypothecated therefor and upon surrender of the note or notes evidencing the loan.

Transactions Requiring Instructions. Upon receipt of Oral or Written Instructions and not otherwise, Provident Bessemer, directly or through the use of the Book-Entry System, shall: (a) execute and deliver to such persons persons, as may be designated in such Oral or Written Instructions, proxies, consents, authorizations, and ad any other instruments whereby the authority of the Fund as owner of any securities may be exercised; (b) deliver any securities held for the Fund in exchange for against receipt of other securities or cash issued or paid in on connection with the liquidation, reorganization, refinancing, merger, consolidationconsolidation or recapitalization of any corporation, recapitalization or salethe exercise of an conversion privilege; (c) deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the liquidation, reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement such certificates securities of deposit, interim receipts or other instruments or documents as may be issued to it to evidence such delivery; (d) make such transfers or exchanges of the assets of the Fund and take such other steps as shall be stated in said Oral or Written Instructions to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation, consolidation or recapitalization or sale of assets of the Fund; and; (e) release securities belonging to the Fund to any bank or trust company for the purpose of pledge or hypothecation to secure any loan incurred by the Fund; provided, however, that securities shall be released only upon payment to Provident Bessemer of the monies borrowed, except that in cases case where additional collateral is required to secure a borrowing already made, subject to proper prior authorization, further securities may be released for that purpose; and pay repay such loan upon redelivery to it of thethe securities pledged or hypothecated thereof and upon surrender of the note or notes evidencing the loan; and (f) release and deliver securities owned by the Fund in connection with any repurchase agreement entered into on behalf of the Fund, but only on receipt of payment therefor; and pay out moneys of the Fund in connection with such repurchase agreements, but only upon delivery the delivery of the securities; and (g) otherwise transfer, exchange or deliver securities in accordance with Oral and Written Instructions.

Transactions Requiring Instructions. Upon receipt of Oral or Written Instructions and not otherwise, Provident shall: (a) execute and deliver to such persons as may be designated in such Oral or Written Instructions, proxies, consents, authorizations, and other instruments instructions whereby the authority of the Fund as owner of any securities may be exercised; (b) deliver any securities held for the Fund in exchange for other securities or cash issued or paid in connection with the liquidation, reorganization, refinancing, merger, consolidation, recapitalization or salesale of assets of any corporation, or the exercise of any conversion privilege; (c) deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the liquidation, reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement such certificates of deposit, interim receipts or other instruments or documents as may be issued to it to evidence such delivery; (d) make such transfers or exchanges of the assets of the Fund and take such other steps as shall be stated in said Oral or Written Instructions to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation, recapitalization or sale of assets of the Fund; and (e) release securities belonging to the Fund to any bank or trust company for the purpose of pledge or hypothecation to secure any loan incurred by the Fund; provided, however, that securities shall be released only upon payment to Provident of the monies borrowed, except that in cases where additional collateral is required to secure a borrowing already made, subject to proper prior authorization, further securities may be released for that purpose; and pay such loan upon redelivery to it of thethe securities pledged or hypothecated therefor and upon surrender of the note or notes evidencing the loan.

Transactions Requiring Instructions. Upon receipt of Oral or Written Instructions and not otherwise, Provident Provident, directly or through the use of the Book-Entry System, shall: (a) execute and deliver to such persons as may be designated in such Oral or Written Instructions, proxies, consents, authorizations, and any other instruments whereby the authority of the Fund as owner of any securities may be exercised; (b) deliver any securities held for the Fund in exchange for against receipt of other securities or cash issued or paid in connection with the liquidation, reorganization, refinancing, merger, consolidationconsolidation or recapitalization of any corporation, recapitalization or salethe exercise of any conversion privilege; (c) deliver any securities held for the Fund to any protective committee, reorganization committee or other person in connection with the liquidation, reorganization, refinancing, merger, consolidation, recapitalization or sale of assets of any corporation, and receive and hold under the terms of this Agreement such certificates of deposit, interim receipts or other instruments or documents as may be issued to it to evidence such delivery; (d) make such transfers or exchanges of the assets of the Fund and take such other steps as shall be stated in said Oral or Written Instructions to be for the purpose of effectuating any duly authorized plan of liquidation, reorganization, merger, consolidation, consolidation or recapitalization or sale of assets of the Fund; and; (e) release securities belonging to the Fund to any bank or trust company for the purpose of pledge or hypothecation to secure any loan incurred by the Fund; provided, however, that securities shall be released only upon payment to Provident of the monies borrowed, except that in cases where additional collateral is required to secure a borrowing already made, subject to proper prior authorization, further securities may be released for that purpose; and pay repay such loan upon redelivery to it of thethe securities pledged or hypothecated therefor and upon surrender of the note or notes evidencing the loan; and (f) release and deliver securities owned by the Fund in connection with any repurchase agreement entered into on behalf of the Fund, but only on receipt of payment therefor; and pay out moneys of the Fund in connection with such repurchase agreements, but only upon the delivery of the securities; and (g) otherwise transfer, exchange or deliver securities in accordance with Oral or Written Instructions.