Compulsory Depositories Sample Clauses

The Compulsory Depositories clause requires parties to use designated depository institutions for holding certain funds, assets, or documents related to the agreement. Typically, this means that any payments, securities, or important records must be deposited with a specified bank or financial institution, ensuring that these items are securely held and managed according to the contract's terms. This clause serves to centralize and safeguard critical assets, reducing the risk of mismanagement or loss and providing a clear, reliable process for handling valuable items during the course of the agreement.
Compulsory Depositories. Notwithstanding the foregoing sub-sections of this Paragraph 6, Custodian shall have no responsibility for the selection or monitoring of any Eligible Securities Depository or Eligible Securities Depository’s agent (“Compulsory Depository”) (i) the use of which is mandated by law or regulation; (ii) because securities cannot be withdrawn from the depository; or (iii) because maintaining securities outside the securities depository is not consistent with prevailing market practices in the relevant market; provided however, that Custodian shall notify Principal if Principal has directed a trade in a market containing a Compulsory Depository, so Principal and Advisor shall have an opportunity to determine the appropriateness of investing in such market.
View SourceView Similar (33)
Compulsory Depositories. (i) Notwithstanding the provisions of Section (a) above, the Custodian shall not serve as Foreign Custody Manager in respect of any Compulsory Depository, as defined below. The Custodian, through its branches or an Eligible Foreign Custodian shall be entitled to deposit and maintain the foreign investments in Compulsory Depositories as the Custodian deems prudent and appropriate, unless otherwise instructed by the Client, on behalf of a Portfolio, or its delegate; (ii) Prior to depositing the foreign investments in any Compulsory Depository, the Custodian shall notify the Client that such Depository will be used and provide the Client, in respect of such Depository, with current information of the type the Custodian provided to the Client in the Custodian’s Market Guides under the caption, “SEC Rule 17f-5 Package”. The Custodian, upon request, shall makes its representatives available to consult, in good faith, with such of the Client’s delegates as the Client shall designate regarding the advisability of depositing the Client’s foreign investments with any Compulsory Depository; (iii) The Custodian shall provide the Client with reports regarding Compulsory Depositories as provided in Section (a)(5), above and shall provide the Client with such other information with regard to any Compulsory Depository as the Client shall reasonably request; and
View SourceView Similar (15)
Compulsory Depositories. Argentina Caja de Valores Equity, Corporate & Government Debt ---------------------------------------------------------------------------------------------------------------------------------- Australia Austraclear Ltd. Corporate Debt, Money Market & Semi-Government Debt ---------------------------------------------------------------------------------------------------------------------------------- CHESS Equity (Clearing House Electronic Sub-register System) ---------------------------------------------------------------------------------------------------------------------------------- RITS Government Debt (Reserve Bank Information and Transfer System) ---------------------------------------------------------------------------------------------------------------------------------- Austria Oesterreichische Knotrolbank AG Equity, Corporate + Government Debt ---------------------------------------------------------------------------------------------------------------------------------- Belgium CIK Equity + Corporate Debt (Caisse Interprofessionnelle de Depots et de Virements de Titres) ---------------------------------------------------------------------------------------------------------------------------------- Banque Nationale de Belgique Treasury Bills + Government Debt ---------------------------------------------------------------------------------------------------------------------------------- Brazil BOVESPA Equity (Bolsa de Valores de Sao Paolo) ---------------------------------------------------------------------------------------------------------------------------------- BVRJ Equity (Bolsa de Valores de Rio de Janeiro) ---------------------------------------------------------------------------------------------------------------------------------- Canada CDS Equity, Corporate + Government Debt (Canadian Depository for Securities) ---------------------------------------------------------------------------------------------------------------------------------- China, SSCCRC Equity Shanghai (Shanghai Securities Central Clearing and Registration Corp.) ---------------------------------------------------------------------------------------------------------------------------------- China, SSCC Equity Shenzhen (Shenzhen Securities Registration Co., Ltd.) ---------------------------------------------------------------------------------------------------------------------------------- Czech SCP Equity + Long-Term Government Debt Republic (Securities ...
View SourceView Similar (5)
Compulsory Depositories. Notwithstanding the foregoing sub-sections of this Paragraph 6, Custodian shall have no responsibility for the selection or monitoring of any Eligible Securities Depository or Eligible Securities Depository’s agent (“Compulsory Depository”) (i) the use of which is mandated by law or regulation; (ii) because securities cannot be withdrawn from the depository; or (iii) because maintaining securities outside the securities depository is not consistent with prevailing market practices in the relevant market; provided however, that Custodian shall notify a Fund if that Fund has directed a trade in a market containing a Compulsory Depository, so that Fund shall have an opportunity to determine the appropriateness of investing in such market. Custodian shall provide risk analysis and monitoring of any such Compulsory Depository as provided in Rule 17f-7 under the Act, and will exercise reasonable care, prudence, and diligence in performing these responsibilities.
View SourceView Similar (3)
Compulsory Depositories. (i) Notwithstanding the provisions of Section A above, the Custodian shall not serve as Foreign Custody Manager in respect of any Compulsory Depository, as defined below. The Custodian, through its branches or any Subcustodians, shall be entitled to deposit and maintain the foreign investments in Compulsory Depositories as the Custodian deems prudent and appropriate, unless otherwise instructed by the Client or its delegate;
View SourceView Similar (3)
Compulsory Depositories. ARGENTINA Caja de Valores S.A. Equity, Corporate & Government Debt COMPULSORY -------------------------------------------------------------------------------------------------------------------- AUSTRALIA AUSTRACLEAR LTD. Corporate Debt, Money Market & Semi-Government Debt COMPULSORY -------------------------------------------------------------------------------------------------------------------- AUSTRALIA CHESS Equity (Clearing House Electronic Subregister System) COMPULSORY -------------------------------------------------------------------------------------------------------------------- AUSTRALIA RITS Government Debt (Reserve Bank Information and Transfer System) COMPULSORY -------------------------------------------------------------------------------------------------------------------- AUSTRIA Osterreichische Kontrolbank AG Equity, Corporate + Government Debt COMPULSORY -------------------------------------------------------------------------------------------------------------------- BELGIUM CIK Equity + Corporate Debt (Caisse Interprofessionnelle de Depots et de COMPULSORY Virements de Titres s.
View Source
Compulsory Depositories. Notwithstanding the foregoing subparagraphs of this Paragraph 6, Custodian shall have no responsibility for the selection or monitoring of any Eligible Securities Depository or Eligible Securities Depository’s agent (“Compulsory Depository”) (i) the use of which is mandated by law or regulation; (ii) because securities cannot be withdrawn from the depository; or
View Source
Compulsory Depositories. Notwithstanding the foregoing sub-sections of this Paragraph 6, Custodian shall have no responsibility for the selection or monitoring of any Eligible Securities Depository or Eligible Securities Depository's agent ("COMPULSORY DEPOSITORY") (i) the use of which is mandated by law or regulation; (ii) because securities cannot be withdrawn from the depository; or (iii) because maintaining securities outside the securities depository is not consistent with prevailing market practices in the relevant market; provided however, that Custodian shall notify Principal if Principal has directed a trade in a market containing a Compulsory Depository, so Principal and, as applicable, Investment Manager shall have an opportunity to determine the appropriateness of investing in such market.
View Source

Related to Compulsory Depositories

  • Depositories The Custodian shall have no liability whatsoever for the action or inaction of any Depository or Foreign Depository or for any Losses resulting from the maintenance of Securities or cash with a Depository or a Foreign Depository, except in each case to the extent such action or inaction is a direct result of the Custodian’s failure to fulfill its obligations hereunder.

  • Securities Depositories (a) Bank hereby represents to Customer that each securities depository listed on Schedule B is an Eligible Securities Depository. If Schedule B is amended, this representation shall be effective as to the amended Schedule on the date of such amendment. Bank shall promptly advise Customer if any securities depository listed on Schedule B ceases to be an Eligible Securities Depository. (b) Bank shall provide Customer an analysis of the custody risks (which analyses may be provided to Customer electronically) associated with maintaining Customer’s Foreign Assets with each Eligible Securities Depository used by Bank and at which any Foreign Assets of Customer are held or are expected to be held. Bank shall use reasonable efforts to provide such analysis at least annually on March 31st of each calendar year (or, in the case of an Eligible Securities Depository not used by Bank as of the agreed upon date, prior to the initial placement of Customer’s Foreign Assets at such Depository after such date). Bank shall monitor the custody risks associated with maintaining Custo-mer’s Foreign Assets at each such Eligible Securities Depository on a continuing basis, and shall promptly notify Customer or its investment adviser of any material changes in such risks. (c) Bank shall, upon Customer’s reasonable request from time to time, provide certain additional information (“Additional Information”) to Customer beyond the scope of the information Bank is otherwise obligated to provide to Customer under this Agreement, or any other agreement between the parties relating to Customer’s Foreign Assets. For example, Additional Information may relate to a country’s financial infrastructure, prevailing custody and settlement practices, laws applicable to the safekeeping and recovery of Foreign Assets held in custody, and the likelihood of nationalization, currency controls and similar risks, but shall not include information required to be provided under this Agreement or any other agreement between the parties relating to Customer’s Foreign Assets. (d) Bank’s obligation to provide Customer with Additional Information shall be limited to the extent Additional Information is (i) already in the possession of Bank, or (ii) available to Bank using commercially reasonable means. Customer hereby acknowledges that: (i) Additional Information is designed solely to inform Customer of certain market conditions and procedures and is not intended as a recommendation to invest or not invest in particular markets; and (ii) Bank has gathered the information from sources it considers reliable, but does not assume responsibility for inaccuracies or incomplete information attributable to actions or omissions of third parties. (For this purpose, “third parties” shall not include any of the Subcustodians listed on Schedule A, except to the extent that, in a given case, a Subcustodian accurately transmitted information it had itself received from a third party (such as from a regulator or securities depository) rather than information it had generated itself.) (e) Customer and Bank hereby acknowledge and agree that the decision to place Customer's Foreign Assets with an Eligible Securities Depository shall be made by Customer's investment adviser (subject to the Board's oversight) or the Customer, after consideration of the information provided by Bank and other information Customer deems relevant, and based on standards of care that are generally applicable to investment advisers and the Board. Further, the parties understand that the decision to place Customer’s Foreign Assets with an Eligible Securities Depository does not have to be made separately, but may be made in the overall context of the decision to invest in a particular country.

  • Subcustodians and Securities Depositories Subject to the provisions hereinafter set forth in this Section 8, the Fund hereby authorizes the Custodian to utilize Securities Depositories to act on behalf of the Fund and to appoint from time to time and to utilize Subcustodians. With respect to securities and funds held by a Subcustodian, either directly or indirectly (including by a Securities Depository or Clearing Corporation), notwithstanding any provisions of this Agreement to the contrary, payment for securities purchased and delivery of securities sold may be made prior to receipt of securities or payment, respectively, and securities or payment may be received in a form, in accordance with (a) governmental regulations, (b) rules of Securities Depositories and clearing agencies, (c) generally accepted trade practice in the applicable local market, (d) the terms and characteristics of the particular Investment, or (e) the terms of Instructions.

  • Primary Depository Borrower shall maintain all its depository, operating and investment accounts with Bank or Bank’s Affiliates.

  • SUBCUSTODIANS From time to time, in accordance with the relevant provisions of this Agreement, (i) the Custodian may appoint one or more Domestic Subcustodians, Foreign Subcustodians, Special Subcustodians or Interim Subcustodians (each as hereinafter defined) to act on behalf of any one or more Funds; and (ii) the Custodian may be directed, pursuant to an agreement between a Fund and the Custodian (“Delegation Agreement”), to appoint a Domestic Subcustodian to perform the duties of the Foreign Custody Manager (as such term is defined in Rule 17f-5 under the 1940 Act) (“Approved Foreign Custody Manager”) for such Fund so long as such Domestic Subcustodian is so eligible under the 1940 Act. Such Delegation Agreement shall provide that the appointment of any Domestic Subcustodian as the Approved Foreign Custody Manager must be governed by a written agreement between the Custodian and the Domestic Subcustodian, which provides for compliance with Rule 17f-5. The Approved Foreign Custody Manager may then appoint a Foreign Subcustodian or Interim Subcustodian in accordance with this Section 5. For purposes of this Agreement, all Domestic Subcustodians, Special Subcustodians, Foreign Subcustodians and Interim Subcustodians shall be referred to collectively as “Subcustodians.”