Common use of Completeness and Contents of Instructions Clause in Contracts

Completeness and Contents of Instructions. The Authorized Person shall be responsible for assuring the adequacy and accuracy of Instructions. Particularly, upon any acquisition or disposition or other dealing in Investments and upon any delivery and transfer of any Investment or moneys, the person initiating the Instruction shall give the Custodian an Instruction with all necessary information required by Custodian to enable Custodian to carry out the Instructions. If the Custodian determines that an Instruction is either unclear or incomplete, the Custodian may give prompt notice of such determination to the Company, and the Company shall thereupon amend or otherwise reform the Instruction. In such event, the Custodian shall have no obligation to take any action in response to the Instruction initially delivered until the redelivery of an amended or reformed Instruction. The Custodian need not act upon Instructions which it reasonably believes to be contrary to Applicable Law or market practice, but Custodian shall be under no duty to investigate whether any Instructions comply with Applicable Law or market practice. In the event Custodian elects to not act upon Instructions as provided in the foregoing sentence, Custodian shall promptly notify the Company and/or the Fund, as applicable, of any Instructions it believes to be contrary to Applicable Law or market practice.