Appointment of Sub-Custodian. Notwithstanding any other provisions of this Agreement, all or any of the monies or securities of Fund may be held in Custodian's own custody or in the custody of one or more other banks or trust companies acting as sub-custodians as may be approved by resolutions of Fund's Board of Trustees, evidenced by a copy thereof certified by the Secretary or Assistant Secretary of Fund. Any sub-custodian must have the qualifications required for custodians under the 1940 Act unless exempted therefrom. Any sub-custodian may participate directly or indirectly in the Depository Trust Company, the Treasury/Reserve Book Entry System, the Participants Trust Company and any other securities depository approved by the Board of Trustees of the Fund to the same extent and subject to the same conditions as provided hereunder. Neither Custodian nor sub-custodian shall be entitled to reimbursement by Fund for any fees or expenses of any sub-custodian; provided that Custodian shall not be liable for, and Fund shall hold Custodian harmless from, the expenses of any special sub-custodian. The appointment of a sub-custodian shall not relieve Custodian of any of its obligations hereunder; provided that Custodian shall be responsible to Fund for any loss, damage, or expense suffered or incurred by Fund resulting from the actions or omissions of a special sub-custodian only to the extent the special sub-custodian is liable to Custodian.
Appointment of Sub-Custodian. The Custodian hereby employs and appoints the Sub-Custodian as a sub-custodian for safekeeping of securities and other assets of the Fund for the term and subject to the provisions of this Agreement. Upon request, the Custodian shall deliver to the Sub-Custodian such proxies, powers of attorney or other instruments as may be reasonably necessary or desirable in connection with the performance by the Sub-Custodian of its obligations under this Agreement on behalf of the Fund.
Appointment of Sub-Custodian. With prior written notice to the Fund, and at the direction of the Fund with respect to any foreign Sub-custodian, the Custodian may from time to time employ one or more Sub-custodians for the Custodial Account, provided that such Sub-custodian (including a foreign Sub-custodian) meets the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder and can and continues to be able to meet the duties and obligations imposed upon the Custodian hereunder. The appointment of any Sub-custodians and the maintenance of any Assets and cash of the Fund or its Subsidiaries with such Sub-custodians shall be at the Fund’s expense and shall not relieve the Custodian of any of its obligations or liabilities under this Agreement.
Appointment of Sub-Custodian. With prior written notice to the Fund, and at the direction of the Fund with respect to any foreign Sub-custodian, the Custodian may from time to time employ one or more Sub-custodians for the Custodial Account. The Foreign Custody Manager shall be responsible for determining whether any foreign Sub-custodian meets the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder, and for performing the duties of a foreign custody manager set forth in Rule 17f-5 under the 1940 Act. The appointment of any Sub-custodian and the maintenance of any Assets and cash of the Fund or its Subsidiaries with such Sub-custodian shall be at the Fund’s expense.
Appointment of Sub-Custodian. With prior written notice to a Fund, and at the direction of a Fund with respect to any foreign Sub-custodian, the Custodian may from time to time employ one or more Sub-custodians for a Custodial Account. The Custodian in its capacity as Foreign Custody Manager as described in Section 2.5 shall be responsible for determining whether any foreign Sub-custodian meets the requirements of a custodian under Section 17(f) of the 1940 Act and the rules and regulations thereunder, and for performing the duties of a foreign custody manager set forth in Rule 17f-5 under the 1940 Act. The appointment of any Sub-custodian and the maintenance of any Assets and cash of a Fund or its Subsidiaries with such Sub-custodian shall be at a Fund’s expense and shall not relieve the Custodian of any of its obligations or liabilities under this Agreement. Every Sub-custodian shall be qualified to act as a custodian under the 1940 Act.
Appointment of Sub-Custodian. 1. The Custodian hereby constitutes and appoints FIB as sub-custodian of such securities and moneys as may from time to time be received by FIB in connection with sales of shares of the Fund, delivered to FIB by the Custodian, received by FIB in connection with the purchase or sale of securities by the Fund, or received with respect to securities of the Fund held by FIB hereunder.
Appointment of Sub-Custodian. With prior written notice to the Company, the Custodian may from time to time employ one or more sub-custodians located in the United States, but only in accordance with the approval of the board of directors of the Company. The Custodian shall not appoint a sub-custodian unless the agreement between the Custodian and such sub-custodian requires the sub-custodian to: (i) at a minimum, exercise due care in accordance with reasonable commercial standards in discharging its duty as a sub-custodian to obtain and thereafter maintain such financial assets; (ii) provide, promptly upon request by the Company, such reports as are available concerning the internal accounting controls and financial strength of the sub-custodian; and (iii) at a minimum, exercise due care in accordance with reasonable commercial standards in discharging its duty as a sub-custodian to obtain and thereafter maintain financial assets corresponding to the security entitlements of its entitlement holders.
Appointment of Sub-Custodian. In its discretion but with prior written notice, the Custodian may from time to time employ for a Custodial Account one or more Sub-custodians (a) to establish and maintain arrangements with a Security Depository to hold Assets and cash of the Company and (b) to carry out such other provisions of this Agreement as it may determine. The appointment of any Sub-custodian and the maintenance of any Assets and cash of the Company with such Sub-custodian shall be at the Company’s expense.
Appointment of Sub-Custodian. Notwithstanding any other provisions of this Agreement, all or any of the Assets may be held in Custodian's own custody or in the custody of one or more other banks or trust companies acting as sub-custodians as may be selected by Custodian. Any such sub-custodian must have the qualifications required for a custodian under the 1940 Act. The sub-custodian may participate directly or indirectly pursuant to the approval of the Board in the Depository Trust Company, any other depository approved by Fund, or the Treasury/Federal Reserve Book Entry System (as such entity is defined at 17 CFR Sec. 270.17f-4(b)). Neither Custodian nor sub-custodian will be entitled to reimbursement by Fund for any fees or expenses of any sub-custodian. The appointment of a sub-custodian will not relieve Custodian of any of its obligations hereunder. Custodian may appoint as sub-custodian for Fund's foreign securities on behalf of the applicable Portfolio(s) the foreign banking institutions and foreign securities depositories designated in Exhibits C and D hereto, but only in accordance with the applicable provisions of Sections III and IV. Custodian shall have no more or less responsibility or liability to Fund on account of any actions or omissions of any sub-custodian so appointed than any such sub-custodian has to Custodian. Custodian shall furnish annually to Fund upon request, information concerning any sub-custodian and any foreign sub-custodians employed by Custodian. Such information shall be similar in kind and scope to that furnished to Fund in connection with the initial approval of this Agreement. In addition, Custodian will promptly inform Fund in the event that Custodian learns of a material adverse change in the financial condition of a sub-custodian or foreign sub-custodian or is notified by a foreign banking institution employed as a foreign sub-custodian that there appears to be a substantial likelihood that its shareholders' equity will decline below $200 million (U.S. dollars or the equivalent thereof) or that its shareholders' equity has declined below $200 million (in each case computed in accordance with generally accepted U.S. accounting principals).
Appointment of Sub-Custodian. State Street, as custodian, may from time ---------------------------- to time employ one or more sub-custodians, but only in accordance with the terms and conditions set forth in a resolution of the Trustees of the Fund authorizing the appointment of each particular sub-custodian, it being understood and agreed that: (i) State Street shall have no more responsibility or liability to the Fund on account of any actions or omissions of any sub-custodian so employed than such sub-custodian has to Xxxxx Xxxxxx; and (ii) the responsibility or liability of the sub-custodian to State Street shall conform to the resolution of the Trustees of the Fund authorizing the appointment of the particular sub-custodian.
