Common use of Reliance on Instructions Clause in Contracts

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an Authorized Person of the Series. Where the Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets of the account as collateral or otherwise pursuant to an investment strategy.

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an officer or Authorized Person of the Series. Where the Custodian is issued Instructions orally, the Custodian, in its discretion, may accept oral Instructions from any Authorized Person with respect to (i) Corporate Actions (as defined under Section 2(c)(11) above) and (ii) adjustments or corrections to purchase and sale transaction Instructions previously received by the Custodian, in either case, for the Account(s). In the event the Custodian accepts oral Instructions from any Authorized Person, the Custodian shall call an Authorized Person, other than the party issuing said Instructions, to confirm such Instructions prior to taking any action in accordance with any such oral Instructions. The Series acknowledge acknowledges that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets securities or other property held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets of the account as collateral or otherwise pursuant to an investment strategyCustodian.

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an officer or Authorized Person of the Series. Where the Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets securities or other property held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated designed by the Fund or Authorized Person to hold Assets property of the account as collateral or otherwise pursuant to an investment strategy.

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an officer or Authorized Person of the SeriesFund. Where the Custodian is issued Instructions orally, the Series Fund acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series Fund shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets securities or other property held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated designed by the Fund or Authorized Person to hold Assets property of the account as collateral or otherwise pursuant to an investment strategy.

Reliance on Instructions. (a) The Custodian shall accept and shall be entitled to rely fully protected if it relies upon any Instruction, notice or other instrument the instructions actually received and given in writing or as otherwise provided by this Section by any authorized officer, employee, or agent of the Investment Advisor, and all authorizations shall remain in full force and effect until cancelled or superseded by subsequent instructions received by the appropriate account officer of the Custodian. The authorized officers, employees, or agents of the Investment Advisor shall be only such persons as are authorized by corporate resolution of the Investment Advisor duly certified in writing to the Custodian and reasonably believed by the Investment Advisor’s Secretary. The Custodian may rely on instructions received by generally accepted methods of transmission acceptable to be genuine and the Custodian that the Custodian believes in good faith to be signed have been given by an Authorized Person of authorized person. The Custodian may also rely on instructions transmitted electronically through the Series. Where Asset Management System (“AMS”) or a customer data entry system or any similar electronic instruction system acceptable to the Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions givenCustodian. The Custodian shall have no responsibility to assure that the instructions of the Investment Advisor either conform to the Participation Agreement or require actions to be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereoftaken which are authorized by law. The Custodian shall be under incur no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets in the account, or to evaluate or question the performance liability as a result of any Authorized Person. The Custodian shall not be responsible act or liable for any diminution of value of any Assets held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained omission by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by accordance with instructions on which the Fund or Authorized Person Custodian is authorized to hold Assets of the account as collateral or otherwise rely pursuant to an investment strategythe provisions of this Section 7.5.

Reliance on Instructions. (a) The Custodian shall accept and shall be entitled to rely fully protected if it relies upon any Instruction, notice or other instrument the instructions actually received and given in writing or as otherwise provided by this Section by any authorized officer, employee or agent of the Investment Advisor, and all authorizations shall remain in full force and effect until cancelled or superseded by subsequent instructions received by the appropriate account officer of the Custodian. The authorized officers, employees or agents of the Investment Advisor shall be only such persons as are authorized by corporate resolution of the Investment Advisor duly certified in writing to the Custodian and reasonably believed by the Investment Advisor’s Secretary. The Custodian may rely on instructions received by generally accepted methods of transmission acceptable to be genuine and the Custodian which the Custodian believes in good faith to be signed have been given by an Authorized Person of authorized person. The Custodian may also rely on instructions transmitted electronically through the Series. Where Asset Management System (“AMS”) or a customer data entry system or any similar electronic instruction system acceptable to the Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions givenCustodian. The Custodian shall have no responsibility to assure that the instructions of the Investment Advisor either conform to the Participation Agreement or require actions to be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereoftaken which are authorized by law. The Custodian shall be under incur no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets in the account, or to evaluate or question the performance liability as a result of any Authorized Person. The Custodian shall not be responsible act or liable for any diminution of value of any Assets held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained omission by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by accordance with instructions on which the Fund or Authorized Person Custodian is authorized to hold Assets of the account as collateral or otherwise rely pursuant to an investment strategythe provisions of this Section 7.5.

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an officer or Authorized Person of the Series. Where the Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets securities or other property held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated designed by the Fund either Trust or Authorized Person to hold Assets property of the account as collateral or otherwise pursuant to an investment strategy.

Reliance on Instructions. The Custodian shall be entitled to rely upon ------------------------ any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an Authorized Person of the Series. Where the Custodian is issued Instructions orally, the Series 11 Lincoln Advisors Trust acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets of the account as collateral or otherwise pursuant to an investment strategy.

Reliance on Instructions. The Custodian shall not be entitled to rely upon responsible in any Instruction, notice or other instrument in writing received by respect for the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an Authorized Person administration of the SeriesCustodial Agreement except as provided for herein. Where The Custodian shall make such payments or distributions from the Participant’s Accumulation Account to or for the use of such persons, at such times, in such amounts and in such form as such Recordkeeper, upon receiving instructions from the Participant or Beneficiary(ies), shall from time to time direct. The Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if liable for any such confirmation payment or distribution made pursuant to any such direction and shall have no duty to determine whether any distribution is not received in accordance with the terms of the Custodial Agreement or Applicable Law. The Custodian shall act only in response to requests, directions, orders, certifications and instructions from the Recordkeeper. All requests, directions, orders, certifications, and instructions to the Recordkeeper shall be in writing or such other form as is contrary acceptable to oral Instructions giventhe Recordkeeper and shall be given by the Participant or by such other person or persons as may be designated from time to time by the Participant. The Custodian shall be fully protected in acting in accordance with all such Instructions requests, directions, orders, certifications, and instructions as provided by the Recordkeeper. The Custodian may rely on any instructions or other communications that it reasonably believes are given by the Recordkeeper. The Custodian shall have no duty to advise any person of the investment, tax or other consequences resulting from that person’s actions or inactions, or of its own actions in following the directions of the Recordkeeper, or its failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets of the account as collateral or otherwise pursuant to an investment strategydirections.

Reliance on Instructions. The Custodian shall be entitled to rely upon (a) Except as otherwise expressly provided in this Agreement, any Instructionstatement, notice certificate, notice, request, consent, approval or other instrument in writing received to be delivered or furnished by the Custodian Grantor, its designated Investment Manager or the Beneficiary shall be sufficiently executed if executed by an Authorized Person or by agents and reasonably believed attorneys-in-fact acting under written authority furnished to the Trustee by the Custodian Grantor, its designated Investment Manager or the Beneficiary, and the Trustee is authorized to follow and rely upon all Instructions, including, without limitation, Instructions given by letter or by e-mail, facsimile and other similar electronic methods (“Electronic Methods”) if the Trustee reasonably believes such Instructions to be genuine and to be signed have been signed, sent or presented by an the proper party or parties. The Trustee shall not incur any liability (i) resulting from actions taken by the Trustee in reliance in good faith on such Instructions; (ii) in executing Instructions (A) from any Authorized Person that is delivered prior to receipt by it of a more current certificate of Authorized Persons removing such prior Authorized Person or (B) from any agent or attorney-in-fact of the Series. Where Grantor, any Investment Manager or the Custodian is issued Instructions orally, the Series acknowledge Beneficiary that if written confirmation is requested, the validity are delivered prior to receipt by it of notice of the transactions or enforceability revocation of the transactions authorized written authority of such agent or attorney-in-fact to act on behalf of such Party. Each of the Grantor and the Beneficiary acknowledges and agrees that (x) it is fully informed of the protections and risks associated with the various methods of transmitting Instructions to the Trustee, and that there may be more secure methods of transmitting Instructions than the method selected by the Series shall not be affected sender; (y) that the security procedures, if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authorityany, to review any property held be followed in the account, connection with a transmission of Instructions provide to make any suggestions with respect to the investment it a commercially reasonable degree of protection in light of its particular needs and reinvestment of the Assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected circumstances; and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets of the account as collateral or otherwise pursuant to an investment strategy.that it shall

Reliance on Instructions. The Custodian shall be entitled to rely upon ------------------------ any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an Authorized Person of the Series. Where the Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets of the account as collateral or otherwise pursuant to an investment strategy.

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an Authorized Person of the Series. Where the Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Subject to its duty to exercise reasonable care in the performance of its duties under this Agreement, the Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereofInstructions. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets securities or other property held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets of the account as collateral or otherwise pursuant to an investment strategy.

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed or provide orally by an officer or Authorized Person of the SeriesFunds. Where Whenever a Fund provides an oral Instruction it may elect to provide written confirmation thereof by the close of business on the day on which such oral Instruction is given. The Custodian is authorized to act on any such oral Instruction prior to receipt of a written confirmation, it being agreed that the Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, shall not be liable for the validity of the transactions or enforceability of the transactions authorized or action taken by the Series shall Custodian if the Custodian does not be affected if receive a written confirmation or such written confirmation is not received contrary, or is contrary fails to conform, to the oral Instructions givenInstruction or the Custodian’s understanding thereof. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets assets in the account, or to evaluate or question the performance of any Authorized Person. If the Custodian receives an Instruction which appears on its face to have been transmitted by an Authorized Person via (i) computer facsimile, e-mail, the Internet or other insecure electronic method, or (ii) secure electronic transmission including passwords, authorization codes and/or authentication keys, the Funds understand and agree that the Custodian cannot determine the identity of the actual sender of such Instruction and that the Custodian shall conclusively presume that such Instruction has been sent by an Authorized Person, and the Funds shall be responsible for ensuring that only Authorized Persons transmit such Instructions. The Custodian shall not be responsible or liable for any diminution of value of any Assets Securities or other property held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated designed by the Fund or Authorized Person to hold Assets property of the account as collateral or otherwise pursuant to an investment strategy. The Funds hereby acknowledge that they are fully informed of the protections and risks of transmitting Instructions (including oral Instructions) and delivering Certificates, and agree that the security procedures, if any, to be followed in connection therewith provide a reasonable degree of protection in light of their particular needs and circumstances.

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an Authorized Person of the Series. Where the Custodian is issued Instructions orally, the Series acknowledge that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets of the account as collateral or otherwise pursuant to an investment strategy.investment

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an Authorized Person of the Series. Where the Custodian is issued Instructions orally, the Series acknowledge acknowledges that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series shall not be affected if such confirmation is not received or is contrary to oral Instructions given; provided that such oral Instructions reasonably appear to be genuine and to have been received from an Authorized Person. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets Securities or other property held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets property of the account as collateral or otherwise pursuant to an investment strategy.

Reliance on Instructions. The Custodian shall be entitled to rely upon any Instruction, notice or other instrument in writing received by the Custodian and reasonably believed by the Custodian to be genuine and to be signed by an Authorized Person of the SeriesFund. Where the Custodian is issued Instructions orally, the Series acknowledge Fund acknowledges that if written confirmation is requested, the validity of the transactions or enforceability of the transactions authorized by the Series Fund shall not be affected if such confirmation is not received or is contrary to oral Instructions given. The Custodian shall be fully protected in acting in accordance with all such Instructions and in failing to act in the absence thereof. The Custodian shall be under no duty to question any direction of an Authorized Person with respect to the portion of the account over which such Authorized Person has authority, to review any property held in the account, to make any suggestions with respect to the investment and reinvestment of the Assets in the account, or to evaluate or question the performance of any Authorized Person. The Custodian shall not be responsible or liable for any diminution of value of any Assets held by the Custodian or its subcustodians pursuant to Instructions. In following Instructions, the Custodian shall be fully protected and shall not be liable for the acts or omissions of any person or entity not selected or retained by the Custodian in its sole discretion, including but not limited to, any broker-dealer or other entity designated by the Fund or Authorized Person to hold Assets of the account as collateral or otherwise pursuant to an investment strategy.