Monitoring Responsibilities. (a) The Custodian will promptly inform each Fund in the event that the Custodian learns of a material adverse change in the financial condition of a Foreign Custodian or learns that a Foreign Custodian's financial condition has declined or is likely to decline below the minimum levels required by Rule 17f-5 of the 1940 Act.
Appears in 31 contracts
Samples: Master Custody Agreement (Franklin Floating Rate Master Trust), Master Custody Agreement (Franklin New York Tax Free Trust), Master Custody Agreement (Franklin Templeton International Trust)
Monitoring Responsibilities. (a) The Custodian will promptly inform each Fund in the event that the Custodian learns of a material adverse change in the financial condition of a Foreign Custodian or learns that a Foreign Custodian's ’s financial condition has declined or is likely to decline below the minimum levels required by Rule 17f-5 of the 1940 Act.
Appears in 1 contract
