Use of Central Securities Depositories Clause Samples

The 'Use of Central Securities Depositories' clause establishes that securities transactions will be settled and held through central securities depositories (CSDs). In practice, this means that parties agree to use recognized CSDs for the safekeeping, transfer, and settlement of securities, which may include entities like Euroclear or DTC. This clause ensures efficient, standardized, and secure handling of securities, reducing operational risk and streamlining settlement processes for all parties involved.
Use of Central Securities Depositories. The Custodian and its Subcustodians will use CSDs in connection with the performance of the Services, and will notify the Client of the CSDs so employed from time to time through the Client Publications.
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Use of Central Securities Depositories. State Street and its Subcustodians will use CSDs in connection with the performance of the Custody Services, and will notify the Client of the CSDs so employed from time to time through the Client Publications.
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Related to Use of Central Securities Depositories

  • 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.