Safekeeping of Financial Instruments Sample Clauses

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Safekeeping of Financial Instruments. 1. The Client’s Financial Instruments shall be deposited for safekeeping with a third party/custodian in the name of the Client and/or in the name of the Company on behalf of the Client subject to the terms of this Agreement, which may include the Company if applicable and permitted by applicable legislation. Such Financial Instruments may not be separately identifiable from the proprietary Financial Instruments of the third party / custodian and in such cases, the Client may not be fully protected against any act, omission or the insolvency of the third party / custodian. 2. The Company shall act with diligence and care during the appointment and monitoring of the third party / custodian for the holding and safeguarding of Financial Instruments. The Company shall not be liable for any loss suffered by the Client due to any act, omission or the insolvency of the third party / custodian, unless such loss is the result of gross negligence or fraud by the Company in the appointment or monitoring of the third party / custodian. 3. Where the Financial Instruments and assets of the Client are deposited for safekeeping with a third party / custodian of the Client’s choice, the Client will enter directly into an agreement with the third party / custodian of his choice and will notify the Company in writing of the appointment and the details of the third party / custodian.
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Safekeeping of Financial Instruments. 11.1 The Client’s Financial Instruments shall be deposited for safekeeping with a third party / custodian in the name of the Client and/or in the name of the Company on behalf of the client subject to the terms of this agreement. Such Financial Instruments may not be separately identifiable from the proprietary Financial Instruments of the third party / custodian and in such cases the Client may not be fully protected against any act, omission or the insolvency of the third party / custodian. 11.2 The Company shall act with diligence and care during the appointment and monitoring of the third party / custodian for the holding and safeguarding of Financial Instruments. The Company shall not be liable for any loss suffered by the Client due to any act, omission or the insolvency of the third party / custodian, unless such loss is the result of gross negligence or fraud by the Company in the appointment or monitoring of the third party / custodian. 11.3 The Client’s Financial Instruments in accordance with the provisions of paragraph 11.1 may be held with Financial Instruments of other clients in a pooled account with a third party / custodian. Consequently, in the event of default on the part of the third party / custodian which causes a shortfall in the Financial Instruments held in the pooled account, the Client may share proportionately in that shortfall. 11.4 Where the Financial Instruments and assets of the Client are deposited for safekeeping with a third party / custodian of the Client’s choice, the Client will enter directly into an agreement with the third party / custodian of his choice and will notify the Company in writing of the appointment and the details of the third party / custodian. 11.5 Where the Know-Your-Client (KYC) documents such as copy of valid passport/identity card and Proof of Address supplied by the Client during the account opening onboarding process are not certified and notarised by a relevant authority from the Client’s home country, or in cases where the Client refuses or is unable to furnish updated KYC documents as requested from time to time by the Company, then the custody and safe-keeping of financial instruments will be entrusted and transferred to the Company’s 100% subsidiary – Eurivex Nominees Ltd, a company incorporated in England and Wales, on 11 November 2014 with registration number 9304579. Only after the submission of updated, certified and notarised documents, such financial instruments will be transferred ba...
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Safekeeping of Financial Instruments. 1. The Client’s Financial Instruments, unless they fall under a class of OTC derivatives that has been declared subject to the clearing obligation of Article 4 of EMIR, will be deposited for safekeeping and custody with the Company, and it shall be the Company performing the valuation of such Financial Instruments, including the valuation of margin required to maintain such positions. 2. Due to the bespoke nature of the Financial Instruments that the Company makes available to Clients for trading, it may not be possible to transfer any positions in Financial Instruments to any third party/custodian. In such cases, the positions will have to be closed, and the Client will be able to transfer the proceeds from such positions. It is also not possible, due to the bespoke nature of CFDs and FXOptions, to receive for safekeeping and custody any such instruments the Client keeps under the safekeeping and custody of any third party. 3. In the event of the death of a Client, once the Company confirms the identity of the Client’s heirs and their lawful right to the estate of the deceased Client, it shall liquidate any positions the deceased Client had in his / her Trading Account and distribute the proceeds, net of any amounts owed to the Company, to the Client’s heirs. 4. The Company will, when it is under an obligation to report transactions under Article 9 of EMIR, report or cause the reporting of such transactions and/or positions held under its safekeeping and custody or the termination of such positions on behalf of its Clients to a trade repository of its choice. 5. The Company shall act with diligence and care in the selection and appointment of a central counterparty for any of the Financial Instruments of Clause 14(1) that are under the clearing obligation of Article 4 of EMIR. The Company shall not be liable for any loss suffered by the Client due to any act, omission or the insolvency of the third party central counterparty, unless such loss is the result of gross negligence or fraud by the Company in the appointment or monitoring of the central counterparty.
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Safekeeping of Financial Instruments. 15.1. The Client confirms its acknowledgment and acceptance of the following conditions: 1. The Company executes the safekeeping of Clients’ Financial Instruments in third parties. A limited list of such third parties, with which the Company works, is contained in the Company’s …[name document]…. found on the Website and/or in the Strategy chosen by the Client. 2. The Company will carry out due diligence and take into account the expertise and market reputation of such third parties with the view of ensuring the protection of Client’s rights, as well as any legal or regulatory requirements or market practices related to holding of Client money that could adversely affect the Client’s rights. 3. The Client accepts that the Company may, at its discretion and without any prior notification, delegate any of its functions concerning the holding of Financial Instruments to another third party. 4. The Company keeps records and accounts so as to enable the Company at any time and without delay to distinguish assets held for one client from assets held for any other client, as well as from the Company’s own assets. 5. The Company will take the necessary steps to ensure that any Client Financial Instruments deposited with a third party, are identifiable from any Financial Instruments belonging to the Company or such third party by means of differently titled accounts on the books of such third party or other equivalent measures that achieve the same level of protection as provided by Applicable Regulations. The third party to which the Company transfers Client’s Financial Instruments may hold those Financial Instruments in an omnibus account. Upon the Client's request the Company will provide information about a third party on which the Client’s Financial Instruments are stored. 6. The Client accepts that the Company may, at its discretion and without any prior notification, delegate any of its functions concerning the holding of Financial Instruments to another third party. 7. The Company keeps records and accounts so as to enable the Company at any time and without delay to distinguish assets held for one client from assets held for any other client, as well as from the Company’s own assets. 8. The Company will take the necessary steps to ensure that any Client Financial Instruments deposited with a third party, are identifiable from any Financial Instruments belonging to the Company or such third party by means of differently titled accounts on the books of such ...
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Safekeeping of Financial Instruments. 15.1. The Client confirms its acknowledgment and acceptance of the following conditions: 1. The Company executes the safekeeping of Clients’ Financial Instruments in third parties. A limited list of such third parties, with which the Company works, is contained in the Company’s …[name document]…. found on the Website and/or in the Strategy chosen by the Client. 2. The Company will carry out due diligence and take into account the expertise and market reputation of such third parties with the view of ensuring the protection of Client’s rights, as well as any legal or regulatory requirements or market practices related to holding of Client money that could adversely affect the Client’s rights. 3. The Client accepts that the Company may, at its discretion and without any prior notification, delegate any of its functions concerning the holding of Financial Instruments to another third party. 4. The Company keeps records and accounts so as to enable the Company at any time and without delay to distinguish assets held for one client from assets held for any other client, as well as from the Company’s own assets. 5. The Company will take the necessary steps to ensure that any Client Financial Instruments deposited with a third party, are identifiable from any Financial Instruments belonging to the Company or such third party by means of differently titled accounts on the books of such third party or other equivalent measures that achieve the same level of protection as provided by Instruments are stored. 6. The Client accepts that the Company may, at its discretion and without any prior notification, delegate any of its functions concerning the holding of Financial Instruments to another third party. 7. The Company keeps records and accounts so as to enable the Company at any time and without delay to distinguish assets held for one client from assets held for any other client, as well as from the Company’s own assets. 8. The Company will take the necessary steps to ensure that any Client Financial Instruments deposited with a third party, are identifiable from any Financial Instruments belonging to the Company or such third party by means of differently titled accounts on the books of such third party or other equivalent measures that achieve the same level of protection as provided by Applicable Regulations. The third party to which the Company transfers Client’s Financial Instruments may hold those Financial Instruments in an omnibus account. 9. If the Client ...
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Safekeeping of Financial Instruments. 4.1.1 Financial Instruments shall be held in custody by BNYM in accordance with the requirements of the Directive and the Other Dutch Laws and the Depositary shall perform the services as set out in the Custody Agreement in relation to such Financial Instruments held in custody by BNYM. 4.1.2 BNYM will ensure that: (a) Financial Instruments that can be registered in a Securities Account are registered in BNYM's books in Securities Accounts segregated from BNYM's own assets so that these can be clearly identified at all times as belonging to the Fund; (b) records and segregated Securities Accounts are maintained in a way that ensures their accuracy, and in particular record the correspondence with the Financial Instruments and cash held for or on behalf of the Fund; (c) reconciliations are conducted on a regular basis between BNYM’s internal accounts and records and those of any Third Party to whom custody functions have been delegated; (d) due care is exercised in relation to the Financial Instruments held in custody in order to ensure a high standard of protection of Investors; (e) all relevant custody risks throughout the custody chain are assessed and monitored and the Manager is informed of any material risk identified; (f) adequate organisational arrangements are introduced to minimise the risk of loss or diminution of the Financial Instruments, or of rights in connection with those Financial Instruments as a result of fraud, poor administration, inadequate registering or negligence. 4.1.3 When BNYM has delegated custody functions to a Third Party, it shall remain subject to the obligations set out in Article 4.1.2 under (b) up to and including (e). BNYM has to ensure that such Third Party is subject to the obligations set out in Article 4.1.2 under (b) up to and including (f). 4.1.4 No securities accounts other than the Securities Account shall be opened by the Manager acting on behalf of the Fund or the Fund itself, except for securities accounts at Euroclear for the facilitation of (reversed) repurchase activities by or on behalf of the Fund. The Manager will inform BNYM prior to opening such a securities account at Euroclear.
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Related to Safekeeping of Financial Instruments

  • Location of Financial Institution Regardless of any provision in any other agreement, for purposes of the UCC, New York will be the location of the bank for purposes of Sections 9-301, 9-304 and 9-305 of the UCC and the securities intermediary for purposes of Sections 9-301 and 9-305 and Section 8-110 of the UCC.

  • Safekeeping of Fund Assets The Custodian shall hold Investments delivered to it or Subcustodians for the Fund in accordance with the provisions of this Section. The Custodian shall not be responsible for (a) the safekeeping of Investments not delivered or that are not caused to be issued to it or its Subcustodians; or, (b) pre-existing faults or defects in Investments that are delivered to the Custodian or its Subcustodians. The Custodian is hereby authorized to hold with itself or a Subcustodian, and to record in one or more accounts, all Investments delivered to and accepted by the Custodian, any Subcustodian or their respective agents pursuant to an Instruction or in consequence of any corporate action or income event. The Custodian shall hold Investments for the account of the Fund and shall segregate Investments from assets belonging to the Custodian and shall cause its Subcustodians to segregate Investments from assets belonging to the Subcustodian in an account held for the Fund or in an account maintained by the Subcustodian generally for non-proprietary assets of the Custodian.

  • Transactions in Foreign Custody Account (a) Except as otherwise provided in paragraph (b) of this Section 3.8, the provision of Sections 2.2 and 2.7 of this Contract shall apply, mutatis mutandis to the foreign securities of the Fund held outside the United States by foreign sub-custodians. (b) Notwithstanding any provision of this Contract to the contrary, settlement and payment for securities received for the account of each applicable Portfolio and delivery of securities maintained for the account of each applicable Portfolio may be effected in accordance with the customary established securities trading or securities processing practices and procedures in the jurisdiction or market in which the transaction occurs, including, without limitation, delivering securities to the purchaser thereof or to a dealer therefor (or an agent for such purchaser or dealer) against a receipt with the expectation of receiving later payment for such securities from such purchaser or dealer. (c) Securities maintained in the custody of a foreign sub-custodian may be maintained in the name of such entity's nominee to the same extent as set forth in Section 2.3 of this Contract, and the Fund agrees to hold any such nominee harmless from any liability as a holder of record of such securities.

  • Depository Banks Each Loan Party and each Subsidiary will maintain the Administrative Agent as its principal depository bank, including for the maintenance of operating, administrative, cash management, collection activity, and other deposit accounts for the conduct of its business.

  • Reliance by Financial Institution The Financial Institution is not obligated to investigate or inquire whether the Secured Party may deliver a Secured Party Order. The Financial Institution may rely on communications (including Secured Party Orders) believed by it in good faith to be genuine and given by the proper party.