Undertakings of Correspondent Clause Samples

The "Undertakings of Correspondent" clause sets out the specific obligations and commitments that a correspondent (often a bank or agent acting on behalf of another party) must fulfill under an agreement. Typically, this clause details the correspondent's duties, such as processing transactions, maintaining records, or adhering to certain standards of care and compliance. By clearly outlining these responsibilities, the clause ensures that both parties understand the correspondent's role and helps prevent misunderstandings or disputes regarding performance expectations.
Undertakings of Correspondent. 1) During the term of this Agreement, Correspondent will not obtain the services contemplated hereunder through a broker other than NFS without prior written consent of NFS. Notwithstanding the foregoing sentence, in the event that Correspondent requests NFS to provide such services for certain financial products or to certain Customers and NFS is unwilling or unable to provide such services for such products or to such Customers, Correspondent may either self-clear or engage a third party to provide the clearing and/or custody services for such products or to such Customers, only.
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Undertakings of Correspondent 
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Related to Undertakings of Correspondent

  • Other Activities of Administrator Nothing herein shall prevent the Administrator or its Affiliates from engaging in other businesses or, in its or their sole discretion, from acting as an administrator for any other person or entity, or in a similar capacity therefor, even though such person or entity may engage in business activities similar to those of the Issuer, the Owner Trustee or the Indenture Trustee.

  • Other Business Activities of the Note Holders Each Note Holder acknowledges that each other Note Holder or its Affiliates may make loans or otherwise extend credit to, and generally engage in any kind of business with, the Mortgage Loan Borrower or any Affiliate thereof, any entity that is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower (each, a “Mortgage Loan Borrower Related Party”), and receive payments on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties and otherwise act with respect thereto freely and without accountability in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.

  • Other Business Activities of the Noteholders Each Noteholder acknowledges that each other Noteholder or its Affiliates may make loans or otherwise extend credit to, and generally engage in any kind of business with, (i) (a) the Mortgage Loan Borrower or (b) any direct or indirect parent of the Mortgage Loan Borrower or (c) any Affiliate of the Mortgage Loan Borrower or (d) any Affiliate of any direct or indirect parent of the Mortgage Loan Borrower, (ii) any entity that is a holder of debt secured by direct or indirect ownership interests in the Mortgage Loan Borrower or any Affiliate of the holder of such debt, or (iii) any entity that is a holder of a preferred equity interest in the Mortgage Loan Borrower or any Affiliate of a holder of such preferred equity (each, a “Mortgage Loan Borrower Related Party”), and receive payments on such other loans or extensions of credit to Mortgage Loan Borrower Related Parties and otherwise act with respect thereto freely and without accountability in the same manner as if this Agreement and the transactions contemplated hereby were not in effect.

  • Other Officers and Agents The Board may appoint such other Officers and agents as may from time to time appear to be necessary or advisable in the conduct of the affairs of the Company, who shall hold their offices for such terms and shall exercise such powers and perform such duties as shall be determined from time to time by the Board.

  • Meetings of Trustees The Financial Trustees and the Community Fund Trustees shall respectively meet at least once every two (2) months or more frequently, as may be required. The conduct of all of their meetings shall be governed by the following rules: (a) a quorum at each meeting of Financial Trustees shall be four (4) Financial Trustees and a quorum at each meeting of Community Fund Trustees shall be three (3) Community Fund Trustees; (b) no Trustee may attend by, or vote by, proxy on any decision of the Trustees; (c) a Trustee may participate in the meeting by means of telephone or other communication facilities that permit all persons participating in the meeting to hear each other, and a Trustee participating in such a meeting by those means shall be considered present at the meeting and at the place of the meeting; (d) at the first meeting of the Financial Trustees and at the first meeting of the Community Fund Trustees in any calendar year, the Financial Trustees and the Community Fund Trustees present at their respective meetings shall each appoint one (1) Financial Trustee and one (1) Community Fund Trustee, as the case may be, to chair their respective meetings for that year. The chairperson shall not have any additional rights to vote on any matter, other than his or her right to vote in his or her capacity as a Trustee. If the chairperson is not in attendance at a meeting, the Trustees who are present shall appoint one (1) Trustee present to chair the meeting; (e) the Trustee appointed to chair the meetings in any year, or any three (3) Community Fund Trustees or any four (4) Financial Trustees then holding office, upon written request, as applicable, shall have the right to call additional meetings of the Trustees in that year as shall be deemed necessary; (f) all Trustees shall be given at least fifteen (15) days notice in writing of the place, date and time of every meeting, unless all Trustees agree to shorter notice in writing or waive the required notice in writing; and (g) minutes of the meetings of the Financial Trustees and of the Community Fund Trustees shall be kept in writing and shall be signed by the Trustee appointed as chair upon approval by all of the Financial Trustees or Community Fund Trustees, as the case may be. Those minutes shall also indicate which Trustees were in favour of an intended action and which Trustees opposed that action.