Fund Responsibility Clause Samples

Fund Responsibility. Fund agrees that it shall be responsible to Custodian as a principal for all of its obligations to Custodian arising under or in connection with this Agreement, and Fund warrants its authority to deposit in the Custody Account any Financial Assets and funds which Custodian receives therefor and to give instructions relative thereto. Fund further agrees that Custodian shall not be subject to, nor shall its right and obligations with respect to this Agreement and the Custody Account be affected by, any agreement between Fund and any such person.

Fund Responsibility. Fund shall perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all such further and other acts, documents, instruments and assurances as Agent may reasonably require in order to carry out or perform its obligations under this Agreement. If any out-of-balance condition caused by Fund or any of its prior agents arises during any term of this Agreement, then Fund will, promptly upon Agent’s request, provide Agent with funds or Shares sufficient to resolve such out-of-balance condition. For purposes of the prior sentence, an “out-of-balance condition” occurs when any funds or Shares do not balance out adequately to cover payment or issuance obligations to Shareholders, or there is a record difference or over issuance as defined under applicable state or federal law.