Common use of Effective Period, Termination and Amendment Clause in Contracts

Effective Period, Termination and Amendment. This Agreement shall become effective as of its execution, shall continue in full force and effect until terminated as hereinafter provided, may be amended at any time by mutual agreement of the parties hereto and may be terminated by either party by an instrument in writing delivered or mailed, postage prepaid to the other party, such termination to take effect not sooner than thirty (30) days after the date of such delivery or mailing; provided either party may at any time immediately terminate this Agreement in the event of the appointment of a conservator or receiver for the other party or upon the happening of a like event at the direction of an appropriate regulatory agency or court of competent jurisdiction. No provision of this Agreement may be amended or terminated except by a statement in writing signed by the party against which enforcement of the amendment or termination is sought. Upon termination of the Agreement, the Fund shall pay to the Custodian such compensation as may be due as of the date of such termination and shall likewise reimburse the Custodian and through the Custodian any Sub-Custodian for its costs, expenses and disbursements.

Appears in 35 contracts

Samples: Custodian Agreement (Putnam Classic Equity Fund), Custodian Agreement (Putnam Investment Funds), Custodian Agreement (Putnam Arizona Tax Exempt Income Fund)

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Effective Period, Termination and Amendment. This Agreement Contract shall become effective as of its executionthe date set forth above, shall continue in full force and effect until terminated as hereinafter provided, may be amended at any time by mutual agreement of the parties hereto and may be terminated by either party by an instrument in writing delivered or mailed, postage prepaid to the other partyparties, such termination to take effect not sooner than thirty (30) sixty days after the date of such delivery or mailing; provided either party provided, however, that the Fund may at any time immediately terminate this Agreement Contract upon written notice to the Custodian in the event of the appointment of a conservator or receiver for the other party Custodian by the Comptroller of the Currency or upon the happening of a like event at the direction of an appropriate regulatory agency or court of competent jurisdiction. No provision of this Agreement may be amended or terminated except by a statement in writing signed by the party against which enforcement of the amendment or termination is sought. Upon termination of the AgreementContract, the Fund shall pay to the Custodian such compensation as may be due as of the date of such termination and shall likewise reimburse the Custodian and through the Custodian any Sub-Custodian for its costs, expenses and disbursements.

Appears in 3 contracts

Samples: Custodian Contract (Excelsior Low Volatility Hedge Fund of Funds LLC), Custodian Contract (Excelsior Hedge Fund of Funds I LLC), Custodian Contract (Excelsior Low Volatility Hedge Fund of Funds Master Fund LLC)

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Effective Period, Termination and Amendment. This Agreement Contract shall become effective as of its execution, shall continue in full force and effect until terminated as hereinafter provided, may be amended at any time by mutual agreement of the parties hereto and may be terminated by either party by an instrument in writing delivered or mailed, postage prepaid to the other party, such termination to take effect not sooner than thirty sixty (3060) days after the date of such delivery or mailing; provided either party . The Fund shall not amend or terminate this Contract in contravention of any applicable federal or state regulations, or any provision of the Articles of Incorporation. The Fund may at any time by action of its Board of Directors (i) substitute another bank or trust company for the Custodian by giving notice as described above to the Custodian, or (ii) immediately terminate this Agreement Contract in the event of the assignment of the Contract by the Custodian without the prior written approval of the Fund or in the event of the appointment of a conservator or receiver for the other party Custodian by the Comptroller of the Currency or upon the happening of a like event at the direction of an appropriate regulatory agency or court of competent jurisdiction. No provision of this Agreement may be amended or terminated except by a statement in writing signed by the party against which enforcement of the amendment or termination is sought. Upon termination of the AgreementContract, the Fund shall pay to the Custodian such compensation as may be due as of the date of such termination and shall likewise reimburse the Custodian and through the Custodian any Sub-Custodian for its costs, expenses and disbursements.

Appears in 1 contract

Samples: Custodian Contract (Prudential Series Fund Inc)

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