Appointment of Subcustodians; Use of Securities Depositories Sample Clauses

Appointment of Subcustodians; Use of Securities Depositories. (a) Bank is authorized under this Agreement to act through and hold Customer’s Global Assets with subcustodians, being at the date of this Agreement the entities listed in Schedule 1 and/or such other entities as Bank may appoint as subcustodians (“Subcustodians”). At the request of Customer, Bank may, but need not, add to Schedule 1 an Eligible Foreign Custodian where Bank has not acted as Foreign Custody Manager with respect to the selection thereof. Bank shall notify Customer in the event that it elects to add any such entity. Bank shall use reasonable care, prudence and diligence in the selection and continued appointment of such Subcustodians. In addition, Bank and each Subcustodian may deposit Global Assets with, and hold Global Assets in, any securities depository, settlement system, dematerialized book entry system or similar system (together a “Securities Depository”) on such terms as such systems customarily operate and Customer shall provide Bank with such documentation or acknowledgements that Bank may require to hold the Global Assets in such systems.
Appointment of Subcustodians; Use of Securities Depositories. (a) Bank is authorized under this Agreement to act through and hold Customer's Financial Assets with Subcustodians. Bank will use reasonable care in the selection, monitoring and continued appointment of such Subcustodians. In addition, Bank and each Subcustodian may deposit Securities with, and hold Securities in any Securities Depository on such terms as such Securities Depository customarily operates and Customer will provide Bank with such documentation or acknowledgements that Bank may require to hold the Financial Assets in such Securities Depository.
Appointment of Subcustodians; Use of Securities Depositories. (a) J.P. Morgan is authorized under this Agreement to act through and hold the Customer’s Financial Assets with Subcustodians. J.P. Morgan will make available on its website a list of Subcustodians. J.P. Morgan may modify the list of Subcustodians from time to time upon notice to the Customer. In addition, J.P. Morgan and each Subcustodian may deposit Financial Assets with, and hold Financial Assets in any Securities Depository on such terms as such Securities Depository customarily operates, and the Customer will provide J.P. Morgan with such documentation or acknowledgements that J.P. Morgan may require to hold the Financial Assets in such Securities Depository. On the basis of such terms, a Securities Depository may have a security interest or lien over, or right of set-off in relation to the Financial Assets.
Appointment of Subcustodians; Use of Securities Depositories. (a) Bank is authorized under this Agreement to act through and hold Customer’s Financial Assets and cash with Subcustodians, being at the date of this Agreement the entities listed in Schedule 2. Bank, as Customer’s Foreign Custody Manager, will maintain the standards required by Rule 17f-5 in the selection and continued appointment of such Subcustodians. In addition, Bank and each Subcustodian may deposit Financial Assets and cash with, and hold Financial Assets and cash in, any Reported Depository or “other U.S. Securities Depository.” Customer will provide Bank with such documentation or acknowledgements that Bank may reasonably require to hold the Financial Assets and cash in such Securities Depositories.
Appointment of Subcustodians; Use of Securities Depositories. (a) Bankis authorized under this Agreement toact through andhold Customer'sGlobalAssetswithsubcustodians,beingatthedateofthis Agreement theentitieslistedinSchedule1and/orsuchotherentitiesasBankmay appoint assubcustodians("Subcustodians").Bankshallusereasonablecare, prudenceand diligenceintheselection <PAGE> andcontinued appointment ofsuch Subcustodians. Inaddition, Bank andeach Subcustodian maydeposit Global Assetswith, andholdGlobal Assets in,any securities depository, settlementsystem, dematerializedbookentry systemor similar system (together a "Securities Depository") onsuch terms assuch systems customarily operate and Customer shall provide Bank with such documentation or acknowledgements thatBankmay require toholdthe Global Assetsinsuchsystems.
Appointment of Subcustodians; Use of Securities Depositories. (a) Bank is authorized under this Agreement to act through and hold Customer's Financial Assets with subcustodians, being at the date of this Agreement the entities listed in Schedule 1 and/or such other entities as Bank may appoint as subcustodians ("Subcustodians"). Bank will use reasonable care in the selection and continued appointment of such Subcustodians. In addition, Bank and each Subcustodian may deposit Financial Assets with, and hold Financial Assets in, any securities depository, settlement system, dematerialized book entry system or similar system (together a "Securities Depository") on such terms as such systems customarily operate and Customer will provide Bank with such documentation or acknowledgements that Bank may require to hold the Financial Assets in such systems. In connection with any placement and maintenance of the Financial Assets with a Securities Depository, Bank will (i) exercise due care in accordance with reasonable commercial standards in discharging its duty as a securities intermediary to obtain and thereafter maintain such Financial Assets; (ii) provide, promptly upon request by Customer, such reports as are available concerning the Bank's internal accounting controls and financial strength; and (iii) require any Subcustodian to exercise due care in accordance with reasonable commercial standards in discharging its duty as securities intermediary to obtain and thereafter maintain assets corresponding to the security entitlements of its entitlement holders.
Appointment of Subcustodians; Use of Securities Depositories. 19 5.2 Liability for Subcustodians 20 5.3 Use of Agents 21 6. ADDITIONAL PROVISIONS RELATING TO CUSTOMER 21 6.1 Representations of Customer and Bank 21
Appointment of Subcustodians; Use of Securities Depositories. (a) Bank is authorized under this Agreement to act through and hold Customer’s Financial Assets with Subcustodians, being at the date of this Agreement the entities listed in Schedule 2. Bank will use reasonable care in the selection and continued appointment of such Subcustodians. In addition, Bank and each Subcustodian may deposit Financial Assets with, and hold Financial Assets in, any Reported Depository or “other U.S. Securities Depository.” Customer will provide Bank with such documentation or acknowledgements that Bank may reasonably require to hold the Financial Assets in such Securities Depositories. (b) Any agreement Bank enters into with a Subcustodian for holding Bank’s customers’ assets will provide that such assets will not be subject to any right, charge, security interest, lien or claim of any kind in favor of such Subcustodian or its creditors except a claim for payment for their safe custody or administration, or, in the case of cash deposits, except for liens or rights in favor of creditors of the Subcustodian arising under bankruptcy, insolvency or similar law, and that the beneficial ownership thereof will be freely transferable without the payment of money or value other than for safe custody or administration. Where a Subcustodian deposits Securities with a Securities Depository, Bank will cause the Subcustodian to identify on its records as belonging to Bank, as agent, the Securities shown on the Subcustodian’s account at such Securities Depository. This Section 5.1(b) will not apply to the extent of any special agreement or arrangement made by Customer with any particular Subcustodian.
Appointment of Subcustodians; Use of Securities Depositories. (a) Collateral Manager is authorized under this Agreement to act through and hold Collateral with Subcustodians. Collateral Manager will use reasonable care in the selection, monitoring and continued appointment of such Subcustodians. In addition, Collateral Manager and each Subcustodian may deposit Securities with, and hold Securities in any Securities Depository on such terms as such Securities Depository customarily operates and Pledgor will provide Collateral Manager with such documentation or acknowledgements that Collateral Manager may require to hold the Securities in such Securities Depository.

Related to Appointment of Subcustodians; Use of 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.