Common use of Lottery Clause in Contracts

Lottery. In the event Financial Assets held in the Custody Account at a Securities Depository are called for partial redemption by the issuer, the Custodian will, in its reasonable discretion, allocate the called portion to the respective holders in a manner which is fair, equitable, and in accordance with its established procedures.

Appears in 13 contracts

Sources: Custody Agreement (State Farm Mutual Fund Trust), Custody Agreement (State Farm Municipal Bond Fund Inc), Custody Agreement (State Farm Growth Fund Inc)