Securities Depository Clause Samples
The Securities Depository clause defines the role and responsibilities of a central securities depository in the context of holding and transferring securities on behalf of parties to an agreement. Typically, this clause specifies that securities will be held in electronic form by a recognized depository, such as the Depository Trust Company (DTC), and outlines the procedures for settlement, transfer, and record-keeping. By establishing a clear framework for the safekeeping and transfer of securities, this clause ensures efficiency, reduces the risk of loss or fraud, and provides legal certainty regarding ownership and settlement processes.
Securities Depository. The Fund agrees to maintain settlement of the VMTP Shares in global book entry form through the Securities Depository or such other clearance system acceptable to ▇▇▇▇▇ Fargo.
Securities Depository. The term Securities Depository shall mean a system, domestic or foreign, for the central handling of securities in which all securities of any particular class or series of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of the securities and shall include any system for the issuance of Book-Entry Securities.
Securities Depository. In selecting an Eligible Securities Depository, Custodian shall exercise reasonable care, prudence, and diligence in evaluating the custody risks associated with maintaining Securities with the Eligible Securities Depository under Custodian's custody arrangements with any relevant Eligible Foreign Custodian and the Eligible Securities Depository.
Securities Depository. Securities Depository has the meaning set forth in Rule 17f-4(a).
Securities Depository. The Issuer agrees to arrange to maintain settlement of the RVMTP Shares in global book entry form through the Securities Depository or such other clearance system acceptable to the Purchaser.
Securities Depository. The Issuer agrees to maintain settlement of the VMTP Shares in global book entry form through the Securities Depository or such other clearance system acceptable to the Purchasers.
Securities Depository. The Fund agrees to use its best efforts to maintain settlement of the MFP Shares in global book entry form through the Securities Depository or such other clearance system acceptable to the Purchaser.
Securities Depository. The Fund agrees to maintain settlement of the AMTP Shares in global book entry form through the Securities Depository or such other clearance system acceptable to Banc of America.
Securities Depository. The Fund agrees to arrange to maintain settlement of the RVMTP Shares in global book entry form through the Securities Depository or such other clearance system acceptable to the Purchaser.
Securities Depository. The Fund agrees to use its best efforts to maintain settlement of the Series 1 VRDP Shares in global book entry form through the Securities Depository or such other clearance system acceptable to the Purchaser.