Common use of CLEARING CREDIT Clause in Contracts

CLEARING CREDIT. Custodian may, in its sole discretion and from time to time, advance funds to the Master Fund to facilitate the settlement of its transactions in the Custody Account . Any such advance (a) shall be repayable immediately upon demand made by Custodian, (b) shall be fully secured as provided in Section 8.3 below, and (c) shall bear interest at such rate, and be subject to such other terms and conditions, as Custodian and the Master Fund may agree.

Appears in 2 contracts

Sources: Custody Agreement (Endowment Master Fund L P), Custody Agreement (Endowment Master Fund L P)

CLEARING CREDIT. Custodian may, in its sole discretion and from time to time, advance funds to the Master Fund to facilitate the settlement of its the Fund's transactions in the Custody Account Account. Any such advance (a) shall be repayable immediately upon demand made by Custodian, (b) shall be fully secured as provided in Section 8.3 9.3 below, and (c) shall bear interest at such rate, and be subject to such other terms and conditions, as Custodian and the Master Fund may agree.

Appears in 1 contract

Sources: Custody Agreement (Watchdog Fund Trust)