Common use of Class Action Claims Clause in Contracts

Class Action Claims. BPIC and the Custodian will, in their sole discretion, determine what role they will take in any legal proceedings affecting any securities held in the Account. It is not BPIC’s current practice to take the role of lead plaintiff on class actions but BPIC may in its sole discretion decide to do so in the future. However, BPIC may, in its sole discretion, if the Client is an eligible member of a class, process class action claims on the Client’s behalf or, may enlist Section One: BMO Private Investment Counsel Inc. Client Account Agreement (cont’d...) another company or firm in respect of exercising such discretion. Accordingly, BPIC may handle all pendency notices (notices of pending class action group filings/formations) and proof of claim forms (forms for the Client to complete and return to the class actions administrator or other designated party in order to claim the Client’s portion of the proposed settlement) in connection with a class action involving a security held in the Account. Notwithstanding the above, BPIC will not process any class action claims on the Client’s behalf or take any action whatsoever with respect to class actions if the Account is closed. Accordingly, the Client has an obligation to keep track of class actions in the event that his/her Account is closed. BPIC may charge the Client a reasonable fee for the filing of each class action claim, which filing fee, if any, will be charged quarterly. There may be instances where BPIC believes in good faith that the proceeds of settlement of a class action claim may not cover the filing fee. In such instances, BPIC may, in its discretion, choose not to file the class action claim on the Client’s behalf.

Appears in 1 contract

Sources: Client Account Agreement

Class Action Claims. BPIC BHIMI and the Custodian will, in their its sole discretion, determine what role they it will take in any legal proceedings affecting any securities held in the AccountAccount . It is not BPICBHIMI’s current practice to take the role of lead plaintiff on class actions but BPIC BHIMI may in its sole discretion decide to do so in the futurefuture . However, BPIC BHIMI may, in its sole discretion, if the Client is an eligible member of a class, process class action claims on the Client’s behalf or, may enlist Section One: BMO Private Investment Counsel Inc. Client Account Agreement (cont’d...) another company or firm in respect of exercising such discretiondiscretion . Accordingly, BPIC BHIMI may handle all pendency notices (notices of pending class action group filings/formations) and proof of claim forms (forms for the Client to complete and return to the class actions administrator or other designated party in order to claim the Client’s portion of the proposed settlement) in connection with a class action involving a security held in the AccountAccount . Notwithstanding the above, BPIC BHIMI will not process any class action claims on the Client’s behalf or take any action whatsoever with respect to class actions if the Account is closedclosed . Accordingly, the Client has an obligation to keep track of class actions in the event that his/her Account is closedclosed . BPIC BHIMI may charge the Client a reasonable fee for the filing of each class action claim, which filing fee, if any, will be charged quarterlyquarterly . There may be instances where BPIC BHIMI believes in good faith that the proceeds of settlement of a class action claim may not cover the filing feefee . In such instances, BPIC BHIMI may, in its discretion, choose not to file the class action claim on the Client’s behalfbehalf .

Appears in 1 contract

Sources: Client Account Agreement

Class Action Claims. BPIC BPICI and the Custodian will, in their its sole discretion, determine what role they it will take in any legal proceedings affecting any securities held in the AccountAccount . It is not BPICBPICI’s current practice to take the role of lead plaintiff on class actions but BPIC BPICI may in its sole discretion decide to do so in the futurefuture . However, BPIC BPICI may, in its sole discretion, if the Client is an eligible member of a class, process class action claims on the Client’s behalf or, may enlist Section One: BMO Private Investment Counsel Inc. Client Account Agreement (cont’d...) another company or firm in respect of exercising such discretiondiscretion . Accordingly, BPIC BPICI may handle all pendency notices (notices of pending class action group filings/formations) and proof of claim forms (forms for the Client to complete and return to the class actions administrator or other designated party in order to claim the Client’s portion of the proposed settlement) in connection with a class action involving a security held in the AccountAccount . Notwithstanding the above, BPIC BPICI will not process any class action claims on the Client’s behalf or take any action whatsoever with respect to class actions if the Account is closedclosed . Accordingly, the Client has an obligation to keep track of class actions in the event that his/her Account is closedclosed . BPIC BPICI may charge the Client a reasonable fee for the filing of each class action claim, which filing fee, if any, will be charged quarterlyquarterly . There may be instances where BPIC BPICI believes in good faith that the proceeds of settlement of a class action claim may not cover the filing feefee . In such instances, BPIC BPICI may, in its discretion, choose not to file the class action claim on the Client’s behalfbehalf .

Appears in 1 contract

Sources: Client Account Agreement