Rights and Obligations of DTC Participant Clause Samples
The 'Rights and Obligations of DTC Participant' clause defines the specific entitlements and responsibilities of an entity participating in the Depository Trust Company (DTC) system. It typically outlines the participant's authority to submit securities transactions, access settlement services, and comply with DTC's operational rules and procedures. For example, a DTC participant may be required to maintain certain account standards and promptly report discrepancies. This clause ensures that all participants understand their roles and duties within the DTC framework, promoting orderly and secure processing of securities transactions.
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Rights and Obligations of DTC Participant. The Authorized Participant, as a DTC Participant, agrees that it shall be bound by all of the obligations of a DTC Participant in addition to any obligations that it undertakes hereunder or in accordance with the Procedures.
Rights and Obligations of DTC Participant. In executing the Authorized Participant Agreement, the Authorized Participant agrees in connection with any purchase or redemption transactions in which it acts for an Authorized Participant Client or for any other DTC Participant or indirect participant, or any other person on whose behalf it holds iShares, that it shall extend to any such party all of the rights, and shall be bound by all of the obligations, of a DTC Participant in addition to any obligations that it undertakes hereunder or under the Procedures.