Common use of Appropriate Instructions Clause in Contracts

Appropriate Instructions. Attached hereto as Exhibit A is a list those persons authorized by the Companies to deliver instructions hereunder (the “Authorized Signers”) which may include officers and employees of the Investment Adviser. The Custodian may rely on any instruction given by an Authorized Signer. The term Appropriate Instructions shall mean an authorization, instruction, approval, item or set of data, or information of any kind in original writing containing signatures, or a copy of such document transmitted by facsimile transmission, electronic mail or other electronic transmission of text (including electronic records attached thereto) given by any Authorized Signer. The parties hereto assume full responsibility for the security of electronically transmitted communications which they send. Any electronic mail or other electronic transmission of text will be deemed signed by the sender if the sender’s name or electronic address appears as part of, or is transmitted with, the electronic record. Any communication addressed and mailed shall be deemed to be given when received; and any communication sent by electronic transmission shall be deemed to be given when actually received; and any communication delivered in person shall be deemed to be given when actually received by a Responsible Officer of the Custodian or the Company, as applicable. Any electronically delivered instructions, including by email or facsimile, received from or on behalf of any Authorized Signer, or any email or facsimile received from another individual on behalf of the Companies in which any Authorized Signers are also identified as copied, shall constitute Appropriate Instructions. The Custodian shall not incur any liability to anyone resulting from actions taken in good faith reliance on such communication or document. Nor shall the Custodian incur any liability in executing Appropriate Instructions from any Authorized Signer prior to receipt by the Custodian of notice of the revocation of such person or entity as an Authorized Signer.

Appropriate Instructions. Attached hereto as Exhibit A is The Trust shall from time to time deliver a list certificate listing those persons authorized by the Companies Trust to deliver instructions hereunder (and the “Authorized Signers”) class of instructions which they are authorized to deliver. The certificate may include officers and employees designate the Investment Advisor as such person in which case the Custodian shall rely on a written authorization signed by an officer of the Investment AdviserAdvisor designating those persons who are authorized by the Investment Advisor to act in its behalf and the class of instructions which they are authorized to deliver. The Custodian may rely on any instruction given certificate of the Trust or written authorization of the Investment Advisor until receipt by an Authorized Signerthe Custodian of a replacement certificate or authorization. The term Appropriate Instructions shall mean an authorization, instruction, approval, item or set of data, or information of any kind in original writing containing signatures, or a copy of such document transmitted by facsimile transmission, electronic mail or other electronic transmission of text (including electronic records attached thereto): (i) given by any Authorized Signerperson or entity whose name is listed on the most recent certificate delivered by the Trust or the Investment Advisor to the Custodian which lists those persons authorized to give authorizations and instructions in the name of and on behalf of the Trust and that are within the class of instructions for which such person is authorized to deliver; or (ii) given by any other person authorized by the Trust to give instructions or directions to the Custodian hereunder or whom the Custodian reasonably believe to be so authorized (such as an investment advisor or other agent designated by the Trust, for example). The parties hereto assume full responsibility for the security of electronically transmitted communications which they send. Any electronic mail or other electronic transmission of text will be deemed signed by the sender if the sender’s name or electronic address appears as part of, or is transmitted with, the electronic record. Any communication addressed and mailed shall be deemed to be given when received; and any communication sent by electronic transmission shall be deemed to be given when actually receivedreceipt of such transmission is acknowledged; and any communication delivered in person shall be deemed to be given when actually received by a Responsible Officer an authorized officer of the Custodian or the Company, as applicable. Any electronically delivered instructions, including by email Trust or facsimile, received from or on behalf of any Authorized Signer, or any email or facsimile received from another individual on behalf of the Companies in which any Authorized Signers are also identified as copied, shall constitute Appropriate Instructionsits agent. The Custodian shall will not incur any liability to anyone resulting from actions taken in good faith reliance on such communication or document. Nor shall the Custodian incur any liability in executing Appropriate Instructions instructions from any Authorized Signer person or entity authorized to act on behalf of the Trust or a Fund prior to receipt by the Custodian of notice of the revocation of the written authority of such person or entity as an Authorized Signerentity.