Common use of SECURITY CODES Clause in Contracts

SECURITY CODES. If the Custodian has issued to the Customer (or any duly-authorized agent thereof) security codes, passwords, or test keys in order that the Custodian may verify that certain transmissions of information, including Proper Instructions, have been originated by the Customer (or such agent), the Custodian shall be kept indemnified by and be without liability to the Customer or the Customer Assets for any action taken or omitted by it in reliance upon receipt by the Custodian of transmissions of information with the proper security code or password, including instructions purporting to be Proper Instructions, which the Custodian reasonably believes to be from the Customer (or its duly-authorized agent). The Customer shall, and procure that any duly-authorized agent shall, safeguard any security codes, passwords, test keys or other security devices which the Custodian shall make available.

SECURITY CODES. If the Custodian has issued to the Customer a Fund (or any duly-authorized agent thereof) security codes, passwords, or test keys in order that the Custodian may verify that certain transmissions of information, including Proper Instructions, have been originated by the Customer Fund (or such agent), the Custodian shall be kept indemnified by and be without liability to the Customer Fund or the Customer Fund Assets for any action taken or omitted by it in reliance upon receipt by the Custodian of transmissions of information with the proper security code or password, including instructions purporting to be Proper Instructions, which the Custodian reasonably believes to be from the Customer Fund (or its duly-authorized agent). The Customer Fund shall, and procure that any duly-authorized agent shall, safeguard any security codes, passwords, test keys or other security devices which the Custodian shall make available.