Authorized Depositories Clause Samples
The 'Authorized Depositories' clause defines which financial institutions or entities are approved to hold funds or assets on behalf of the parties involved in an agreement. Typically, this clause lists specific banks or types of institutions that are permitted, and may set standards for their qualifications, such as being a member of a recognized regulatory body or meeting certain credit ratings. By clearly identifying where funds can be deposited, the clause helps ensure the security of assets, reduces the risk of misappropriation, and provides clarity and assurance to all parties regarding the handling of their money or property.
Authorized Depositories. The Company authorizes the Bank, for any Property held hereunder, to use the services of any United States securities depository permitted to perform such services for registered investment companies and their custodians pursuant to Rule 17f-4 under the Act, including, but not limited to, the Depository Trust Company, Participants Trust Company and the Federal Reserve Book Entry System (each an "Authorized Depository"), in accordance with the provisions of this Section 6.
Authorized Depositories. All deposits of funds required under this Agreement shall be deposited and maintained in one or more banks, trust companies, national banking associations, savings and loan associations, savings banks or other banking associations which are under Florida law qualified to be a depository of public funds, as may be determined by the entity maintaining possession and control of such funds and accounts.
Authorized Depositories. Unless otherwise directed by you,
Authorized Depositories. Unless otherwise directed by you, you authorize each of the following depositories to accept custody of your commodities on your behalf: (1) Brink’s Global Services (Brink’s), Springfield Gardens, NY; (2) CNT Depository, Inc. (“CNT”), Bridgewater, MA; (3) Delaware Depository