Receipt of Securities. (a) Except as provided by paragraph 12 hereof, the Custodian shall hold all securities and non-cash Property received by it for the Trust. All such securities and non-cash Property are to be held or disposed of by the Custodian for the Trust pursuant to the terms of this Agreement. In the absence of Proper Instructions, the Custodian shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any such securities and non-cash Property, except in accordance with the express terms provided for in this Agreement. In no case may any trustee, officer, employee or agent of the Trust, acting as individuals, withdraw any securities or non-cash Property.
Appears in 6 contracts
Samples: Mutual Fund Custody Agreement (Victory Institutional Funds), Mutual Fund Custody Agreement (Victory Variable Insurance Funds), Mutual Fund Custody Agreement (Victory Portfolios)
Receipt of Securities. (a) Except as provided by paragraph Paragraph 12 hereof, the Custodian shall hold all securities and non-cash Property received by it for the Trust. All such securities and non-cash Property are to be held or disposed of by the Custodian for the Trust pursuant to the terms of this Agreement. In the absence of Proper Instructions, the Custodian shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any such securities and non-cash Property, except in accordance with the express terms provided for in this Agreement. In no case may any trustee, officer, employee or agent of the Trust, acting as individuals, withdraw any securities or non-cash Property.
Appears in 5 contracts
Samples: Mutual Fund Custody Agreement (Victory Portfolios), Mutual Fund Custody Agreement (Victory Variable Insurance Funds), Mutual Fund Custody Agreement (Victory Portfolios)
Receipt of Securities. (a) Except as provided by paragraph 12 Paragraph 11 hereof, the Custodian U.S. Trust shall hold all securities and non-cash Property received by it for the Trust. All such securities and non-cash Property are to be held or disposed of by the Custodian U.S. Trust for the Trust pursuant to the terms of this Agreement. In the absence of Proper Instructions, the Custodian U.S. Trust shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any such securities and non-non- cash Property, except in accordance with the express terms provided for in this Agreement. In no case may any trustee, officer, employee or agent of the Trust, acting as individuals, withdraw any securities or non-cash Property.
Appears in 1 contract
Samples: Agreement (First Funds)
