Common use of Banking Activities Clause in Contracts

Banking Activities. Without limiting the generality of Section 2.4, each of the Member and the Administrator is authorized to act on behalf of the Company (on its own behalf and on behalf of or with respect to each Series) and each Series and in the name of the Company (on its own behalf and on behalf of or with respect to each Series) or any Series, as the case may be: (a) to establish bank accounts on behalf of and in the name of the Company (on its own behalf or on behalf of or with respect to each Series) (each, a “Company Account”); (b) to sign checks, drafts, instruments, bills of exchange, acceptances and/or other orders for the payment of money from any Company Account; (c) to endorse checks, instruments, evidences of indebtedness, and orders payable, owned or held by the Company (on its own behalf or on behalf of or with respect to each Series) or such Series; (d) to accept drafts, acceptances, instruments and/or other evidences of indebtedness payable at or through the bank at which any Company Account is maintained (each, a “Bank”); (e) to waive presentment, demand, protest and notice of protest or dishonor of any check(s), instrument(s), draft(s), acceptance(s), or other evidences of indebtedness made, drawn or endorsed by the Company (on its own behalf or on behalf of or with respect to each Series) or such Series; (f) otherwise to deal with each Bank in connection with the foregoing activities on behalf of the Company (on its own behalf or on behalf of or with respect to each Series) or such Series; (g) to enter into one or more agreements with the Bank, which will be deemed to govern the Company Accounts established at such Bank; (h) to authorize the purchase, on behalf of the Company (on its own behalf or on behalf of or with respect to each Series) or such Series, short-term investments (e.g., certificates of deposit, money market funds and commercial paper) from each Bank; (i) to obtain, on behalf of the Company (on its own behalf or on behalf of or with respect to each Series) or such Series, other related services from any Bank, such as the rental of safe deposit boxes from such Bank, obtaining of night depository services, routine cash management services, and the like, which will be governed by night depository agreement(s), safe deposit box lease agreement, and any other such agreement(s) contained on the application or signature cards pertaining to any such services offered to the Company (on its own behalf or on behalf of or with respect to each Series) or such Series by such Bank, as amended from time to time; (j) to sign and execute signature cards, applications and forms as any Bank will deem appropriate, from time to time, in connection with the opening and maintaining of Company Accounts at such Bank and/or obtaining any of the aforementioned additional related services; and (k) to execute applications for the issuance of any savings instrument in the name of the Company (on its own behalf or on behalf of or with respect to each Series) or such Series.