PROPERTY INSTRUCTIONS definition
PROPERTY INSTRUCTIONS. For purposes of this Agreement, the Custodian shall be deemed to have received Proper Instructions upon receipt of written (including instructions received by means of computer terminals of facsimile transmissions), telephone or telegraphic instructions from a person or persons authorized from time to time by Trustees of the Trust to give the particular class of instructions. Telephone or telegraphic instructions shall be confirmed in writing by such persons as said Trustees shall have from time to time authorized to give the particular class of instructions in question. The Custodian may act upon telephone or telegraphic instructions without awaiting receipt of written confirmation, and shall not be liable for the Trust's failure to confirm such instructions in writing.