Receipt and Delivery of Securities. (a) Except as provided by Section 8 hereof, Chase shall hold and physically segregate all securities and noncash Property received by it for the Fund. All such securities and non-cash Property are to be held or disposed of by Chase for the Fund pursuant to the terms of this Agreement. In the absence of Proper Instructions, Chase shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any such securities and investments, except in accordance with the express terms provided for in this Agreement. In no case may any trustee, officer, employee or agent of the Fund withdraw any securities. In connection with its duties under this Section 7, Chase may, at its own expense, enter into subcustodian agreements with other banks or trust companies for the receipt of certain securities and cash to be held by Chase for the account of the Fund pursuant to this Agreement; provided that each such bank or trust company has an aggregate capital, surplus and undivided profits, as shown by its last published report, of not less than twenty million dollars ($20,000,000. Chase will be liable for acts or omissions of any subcustodian. Chase shall employ sub-custodians upon receipt of Proper Instructions.
Receipt and Delivery of Securities. (a) Except as provided by Section 8 hereof, U.S. Trust shall hold and physically segregate all securities and noncash Property received by it for the Fund. All such securities and non-cash Property are to be held or disposed of by U.S. Trust for the Fund pursuant to the terms of this Agreement. In the absence of Proper Instructions accompanied by a certified resolution authorizing the specific transaction by the Fund's Board, U.S. Trust shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any such securities and investments, except in accordance with the express terms provided for in this Agreement. In no case may any director, officer, employee or agent of the Fund withdraw any securities. In connection with its duties under this Section 7, U.S. Trust may, at its own expense, enter into subcustodian agreements with other banks or trust companies for the receipt of certain securities and cash to be held by U.S. Trust for the account of the Fund pursuant to this Agreement; provided that each such bank or trust company has an aggregate capital, surplus and undivided profits, as shown by its last published report, of not less than twenty million dollars ($20,000,000) and that such bank or trust company agrees with U.S. Trust to comply with all relevant provisions of the 1940 Act and applicable rules and regulations
Receipt and Delivery of Securities a. Except as provided in this Paragraph 7 and Paragraphs 8 and 9, Wachovia shall hold and segregate (physically, where Securities are held in certificate form) all Securities and non-cash Property it receives for the Fund. Wachovia will hold or dispose of all Securities and non-cash Property for the Fund pursuant to the terms of this Agreement. In the absence of Proper Instructions accompanied by a certified resolution of the Fund's Board authorizing the specific transaction, Wachovia shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any Securities and other Property, except in accordance with this Agreement. In no case may any director, trustee, officer, employee or agent of the Fund withdraw any Securities. Wachovia may, at its own expense, employ subcustodians for the receipt of certain non-Foreign Assets Wachovia is to hold for the account of the Fund pursuant to this Agreement; provided that each subcustodian has an aggregate capital, surplus and undivided profits, as shown by its last published report, of not less than twenty million dollars ($20,000,000) and that such subcustodian agrees with Wachovia to comply with all relevant provisions of the 1940 Act and applicable rules and regulations thereunder. Wachovia will be liable for acts or omissions of any subcustodian to the same extent that Wachovia is liable to the Fund under this Agreement. Wachovia shall employ subcustodians upon receipt of Proper Instructions, but only in accordance with an applicable vote of the Board of the Fund.
Receipt and Delivery of Securities a. Except for Property held by a subcustodian or depository pursuant to the terms of this Agreement, Wachovia shall hold on behalf of the Fund and segregate (physically, where Securities are held in certificate form) all Securities and non-cash Property it receives for the Fund. Wachovia will hold or dispose of all Securities and non-cash Property for the Fund pursuant to the terms of this Agreement. In the absence of Proper Instructions accompanied by a certified resolution of the Fund’s Board authorizing the specific transaction, Wachovia shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any Securities and other Property, except in accordance with this Agreement. In no case may any director, trustee, officer, employee or agent of the Fund withdraw any Securities. Wachovia may, upon receipt of Proper Instructions, but only in accordance with an applicable vote of the Board of the Fund, at its own expense, employ subcustodians for the receipt of certain non-Foreign Assets Wachovia is to hold for the account of the Fund pursuant to this Agreement; provided that each subcustodian is a U.S. Bank and has an aggregate capital, surplus and undivided profits, as shown by its last published report, of not less than twenty million dollars ($20,000,000) and that such subcustodian agrees with Wachovia to comply with all relevant provisions of the 1940 Act and applicable rules and regulations thereunder. Wachovia will be liable for acts or omissions of any subcustodian to the same extent that Wachovia is liable to the Fund under this Agreement.
Receipt and Delivery of Securities a. Except as provided in this Paragraph 7, and in Paragraphs 8 and 9 of this Agreement, Wachovia shall hold and segregate (physically, where Securities are held in certificate form) all Securities and non-cash Property it receives for Customer on behalf of each Fund in one or more Accounts. Wachovia will hold or dispose of all Securities and non-cash Property for Customer pursuant to the terms of this Agreement. In the absence of Proper Instructions, Wachovia shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any Securities and other Property, except in accordance with this Agreement.
Receipt and Delivery of Securities a. Except as provided in this Paragraph 7, First Union shall hold and physically segregate all Securities and non-cash Property it receives for the Fund. First Union will hold or dispose of all Securities and non-cash Property for the Fund pursuant to the terms of this Agreement. In the absence of Proper Instructions accompanied by a certified resolution of the Fund's Board authorizing the specific transaction, First Union shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any Securities and other Property, except in accordance with this Agreement. In no case may any director, trustee, officer, employee or agent of the Fund withdraw any Securities. First Union may, at its own expense, enter into subcustodian agreements with other banks or trust companies for the receipt of certain Securities and cash First Union is to hold for the account of the Fund pursuant to this Agreement; provided that each bank or trust company has an aggregate capital, surplus and undivided profits, as shown by its last published report, of not less than twenty million dollars ($20,000,000) and that such bank or trust company agrees with First Union to comply with all relevant provisions of the 1940 Act and applicable rules and regulations thereunder. First Union will be liable for acts or omissions of any subcustodian. First Union shall employ subcustodians upon receipt of Proper Instructions, but only in accordance with an applicable vote of the Board of Directors or Trustees of the Fund.
Receipt and Delivery of Securities. (a) Except as provided by Section 8 hereof, The Chase Manhattan Bank shall hold and physically segregate all securities and noncash Property received by it for the Fund. All such securities and non-cash Property are to be held or disposed of by The Chase Manhattan Bank for the Fund pursuant to the terms of this Agreement. In the absence of Proper Instructions accompanied by a certified resolution authorizing the specific transaction by the Trust's Board, The Chase Manhattan Bank shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any such securities and investments, except in accordance with the express terms provided for in this Agreement. In no case may any director, officer, employee or agent of the Fund withdraw any securities. In connection with its duties under this Section 7, The Chase Manhattan Bank may, at its own expense, enter into subcustodian agreements with other banks or trust companies for the receipt of certain securities and cash to be held by The Chase Manhattan Bank for the account of the Fund pursuant to this Agreement; provided that each such bank or trust company has an aggregate capital, surplus and undivided profits, as shown by its last published report, of not less than twenty million dollars ($20,000,000) and that such bank or trust company agrees with The Chase Manhattan Bank to comply with all relevant provisions of the 1940 Act and applicable rules and regulations thereunder. The Chase Manhattan Bank will be liable for acts or omissions of any subcustodian. The Chase Manhattan Bank shall employ sub- custodians upon receipt of Proper Instructions, but only in accordance with an applicable vote by the Board of Trustees of the Trust.
Receipt and Delivery of Securities. From time to time CREF on behalf of the Bond Account will instruct Bank to receive or deliver securities through Authorized Instructions as set forth in Section 20. Such instructions may be continuing if agreed to by the parties.
Receipt and Delivery of Securities. From time to time CREF on behalf of the Social Choice Account will instruct Bank to receive or deliver securities through Authorized Instructions as set forth in Section 20. Such instructions may be continuing if agreed to by the parties. a. In accordance with this Agreement, not- withstanding such instructions that relate to settlement date entries, Bank agrees to receive such securities against payment or exchange as directed in any Authorized Instructions and debit cash held in a Deposit Account on behalf of the Social Choice Account only against satisfactory delivery of securities. b. In accordance with this Agreement, not- withstanding instructions that relate to settlement date entries, Bank agrees to transfer, exchange, or deliver securities held by it hereunder including, but not limited to, the following:
Receipt and Delivery of Securities. (a) Except as provided by Section 8 hereof, The Trust Company shall hold and physically segregate all securities and noncash Property received by it for the Fund. All such securities and non-cash Property are to be held or disposed of by The Trust Company for the Fund pursuant to the terms of this Agreement. In the absence of Proper Instructions accompanied by a certified resolution authorizing the specific transaction by the Fund's Board, The Trust Company shall have no power or authority to withdraw, deliver, assign, hypothecate, pledge or otherwise dispose of any such securities and investments, except in accordance with the express terms provided for in this Agreement. In no case may any director, officer, employee or agent of the Fund withdraw any securities.
