Common use of Official Information Clause in Contracts

Official Information. The Bank shall notify the Client of all official notices, circulars, reports and announcements received by the Bank in such capacity concerning the Securities held in any Securities Account that require discretionary action and will exercise reasonable efforts to do so within such time as will reasonably enable the Client to undertake such discretionary action; provided that the Bank shall receive any such information sufficiently in advance of the deadline for such discretionary action to be able to notify the Client in accordance with its customary operating procedures.

Official Information. The Bank shall notify the Client Fund of all official notices, circulars, reports and announcements received by the Bank in such capacity concerning the Securities held in any Securities Account that require discretionary action and will exercise reasonable efforts to do so within such time as will reasonably enable the Client Fund to undertake such discretionary action; provided that the Bank shall receive any such information sufficiently in advance of the deadline for such discretionary action to be able to notify the Client Fund in accordance with its customary operating procedures.