Common use of Cash Held as Banker Clause in Contracts

Cash Held as Banker. Cash held for the Client by the Custodian, or where applicable by a sub-custodian will be held as banker and not on trust or as trustee, unless the Custodian otherwise provides notice to the Client. As a result, Cash will not be held in accordance with client money rules or similar rules and, in the event of the Custodian’s insolvency (or analogous event), the Client may not be entitled to share in any distribution under those rules.

Cash Held as Banker. Cash held for the Client by the The Custodian, or where applicable by a sub-custodian custodian, will be held hold Cash as banker and not on trust or banker, as trustee, unless the Custodian otherwise provides notice a debt due to the Client, and not as trustee or fiduciary. As a result, Cash will not be held in accordance with client money rules Client Money Rules or similar rules in any jurisdiction and, in the event of the Custodian’s insolvency (or analogous event), the Client may not be entitled to share in any distribution under those rulesthe Client Money Distribution and Transfer Rules.

Cash Held as Banker. The Custodian will hold Cash held for the Client by the Custodianas banker, or where applicable by as a sub-custodian will be held as banker and not on trust or as trustee, unless the Custodian otherwise provides notice debt due to the Client, and not as trustee. As a result, Cash will not be held in accordance with client money rules or similar rules and, in the event of the Custodian’s insolvency (or analogous event), the Client may not be entitled to share in any distribution under those rules.

Cash Held as Banker. Cash held for the Client by the Custodian, or where applicable by a sub-custodian custodian, will be held as banker and not on trust or as trustee, unless the Custodian otherwise provides notice to the Client. As a result, Cash will not be held in accordance with client money rules or similar rules and, in the event of the Custodian’s insolvency (or analogous event), the Client may not be entitled to share in any distribution under those rules.

Cash Held as Banker. Cash Xxxx held for the Client by the Custodian, or where applicable by a sub-custodian will be held as banker and not on trust or as trustee, unless the Custodian otherwise provides notice to the Client. As a result, Cash will not be held in accordance with client money rules or similar rules and, in the event of the Custodian’s insolvency (or analogous event), the Client may not be entitled to share in any distribution under those rules.

Cash Held as Banker. Cash Cxxx held for the Client by the Custodian, or where applicable by a sub-custodian custodian, will be held as banker and not on trust or as trustee, unless the Custodian otherwise provides notice to the Client. As a result, Cash will not be held in accordance with client money rules or similar rules and, in the event of the Custodian’s insolvency (or analogous event), the Client may not be entitled to share in any distribution under those rules.