Responsibilities means the responsibilities delegated to BNY under the Rule as a Foreign Custody Manager with respect to each Specified Country and each Eligible Foreign Custodian selected by BNY, as such responsibilities are more fully described in Article III of this Agreement.
Duties includes obligations.
Supervisory Permission means, in relation to any action, such supervisory permission (or, as appropriate, waiver) from the Regulator and/or the Relevant Resolution Authority as is required therefor under Applicable Banking Regulations.
Performance of duties means duties performed within the employee’s authorized scope of employment and performed in the line of duty.
Supervisor means Advisors Asset Management Inc., and its successors in interest, or any successor evaluator appointed as hereinafter provided."