Common use of Unclear or Ambiguous Instructions Clause in Contracts

Unclear or Ambiguous Instructions. If, in Custodian’s opinion, any instructions received from Trustee are unclear or ambiguous, Custodian will use reasonable efforts (taking into account any relevant time constraints) to obtain clarification of those instructions but, failing that, Custodian may in its absolute discretion and without liability on its part either act upon what Custodian believes in good faith such instructions to be, or refrain from acting upon such instructions until they have been clarified to Custodian’s reasonable satisfaction.

Appears in 2 contracts

Sources: Custodian Agreement, Custodian Agreement (iShares Copper Trust)

Unclear or Ambiguous Instructions. If, in Custodian’s opinion, any instructions received from Trustee are unclear or ambiguous, Custodian will use reasonable efforts (taking into account any relevant time constraints) to obtain clarification of those instructions but, failing that, Custodian may in its absolute discretion and without liability on its part either act upon what Custodian believes in good faith such instructions to be, or refrain from acting upon such instructions until they have been clarified to Custodian’s reasonable satisfaction.

Appears in 1 contract

Sources: Custodian Agreement (iShares Copper Trust)