Common use of Use of Securities System Clause in Contracts

Use of Securities System. With respect to Property in the Account(s) that is maintained by Forum or any Subcustodian through a Securities System employed pursuant to Section 4: (a) Forum shall, and the Subcustodian will be required by its agreement with Forum to, identify on its books such Property as being maintained for the account of Forum or Subcustodian for its customers. (b) Any Property maintained through a Securities System for the account of Forum or a Subcustodian will be subject only to the instructions of Forum or such Subcustodian, as the case may be. (c) Property deposited with a Securities System will be maintained in an account holding only assets for customers of Forum or Subcustodian, as the case may be, unless precluded by applicable law, rule, or regulation. (d) Forum shall provide Trust with any report obtained by Forum or Subcustodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System.

Appears in 1 contract

Sources: Custodian Agreement (Truecrossing Funds)

Use of Securities System. With respect to Property in the Account(s) that is maintained by Forum or any Subcustodian through a Securities System employed pursuant to Section 4: (a) Forum shall, and the Subcustodian will be required by its agreement with Forum to, identify on its books such Property as being maintained for the account of Forum or Subcustodian for its customers.; (b) Any Property maintained through a Securities System for the account of Forum or a Subcustodian will be subject only to the instructions of Forum or such Subcustodian, as the case may be.; (c) Property deposited with a Securities System will be maintained in an account holding only assets for customers of Forum or Subcustodian, as the case may be, unless precluded by applicable law, rule, or regulation.; and (d) Forum shall provide the Trust with any report obtained by Forum or Subcustodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System.;

Appears in 1 contract

Sources: Custodian Agreement (Stratevest Funds)