CMU SERVICE Sample Clauses
The CMU Service clause defines the terms and conditions under which a Central Management Unit (CMU) provides its services to the parties involved in the agreement. Typically, this clause outlines the scope of services, responsibilities of the CMU, and any limitations or requirements for accessing the service, such as eligibility criteria or service levels. By clearly specifying the operational framework and expectations for the CMU's role, this clause ensures that all parties understand the nature of the service being provided and helps prevent misunderstandings or disputes regarding service delivery.
CMU SERVICE. (1) The CMU Lodging and Paying Agent will lodge any CMU Notes with a sub-custodian for the CMU Service on behalf of the Issuer in accordance with the provisions of the Procedures Memorandum and the CMU Reference Manual, and will be nominated as paying agent to receive notification from the CMU Service in respect of interests in such Notes credited to accountholders with the CMU Service prior to the interest payment dates and the maturity date of such Notes.
(2) It is understood that, once any Note is lodged with the CMU Service, the terms of the CMU Rules will apply to such Note and to all transactions and operations effected through the CMU Service in relation to such Note including transactions relating to the lodgement, withdrawal or redemption of such Note.
(3) The Issuer authorises the CMU Lodging and Paying Agent on its behalf to do all such acts and things and execute all such documents as may be required to enable the CMU Lodging and Paying Agent to observe and perform its obligations under the CMU Rules and to enter into any arrangement which the CMU Lodging and Paying Agent considers proper in connection with payments under and the redemption of any Note lodged with the CMU Service, including (but without limiting the generality of the foregoing):
(a) authenticating such Note; and
(b) making payments in respect of such Note in the manner prescribed by the CMU Rules, provided that the CMU Lodging and Paying Agent shall obtain the Issuer’s written approval before it takes such actions.
(4) It is agreed that the obligations of the CMU Lodging and Paying Agent to make payments upon presentation to it of any Note or Coupon shall be suspended for so long as any Note is held by the CMU Service and that while any Note is held by the CMU Service, the CMU Lodging and Paying Agent shall make payments to the person(s) confirmed to it by the CMU Service in a CMU Issue Position Report or otherwise prior to any relevant payment date as being credited with the interest(s) in such Note in accordance with the terms of the CMU Rules. Upon withdrawal of a CMU Note from the CMU Service, the CMU Lodging and Paying Agent shall arrange to make such endorsements to such CMU Note as would have been made in respect of the CMU Note during such period as if it had not been lodged with the CMU Service or otherwise so as to confirm that all payments on such CMU Note have been made up to the date of withdrawal from the CMU Service.
(5) The CMU Lodging and Paying Agent confirms ...
CMU SERVICE. The Trustee may call for and shall be entitled to rely on any records, report, certificate or other document of or to be issued by the CMU Service in relation to any determination of the principal amount of Notes represented by a Global Note representing CMU Notes. Any such records, report, certificate or other document shall be conclusive and binding for all purposes. The Trustee shall not be liable to any person by reason of having accepted as valid or not having rejected any such records, report certificate or other document to such effect purporting to be issued by the CMU Service and subsequently found to be forged or not authentic.