Common use of Authorized Instructions Clause in Contracts

Authorized Instructions. All directions and instructions ("Instructions") to the Custodian from an Authorized Party shall be in writing, by facsimile transmission, electronic transmission subject to the Custodian's practices, or any other method specifically agreed to in writing by the Clients and the Custodian, provided the Custodian may, in its discretion and subject to the procedures below, accept oral Instructions. If the Custodian adheres to the security procedures identified below, the Custodian shall be fully protected in acting in accordance with all such directions and instructions ("Authorized Instructions") which it reasonably believes to have been given by an Authorized Party or in failing to act in the absence thereof. Notwithstanding anything to the contrary herein, Custodian shall follow the following security procedures.