Common use of Client Assets Clause in Contracts

Client Assets. 20.1. Where your purchase Instruments which require to be held with a custodian (“Custody Assets”), you agree that we will arrange for a custodian to be appointed to safeguard and administer the Custody Assets and to otherwise act as custodian of the Custody Assets. We will not be responsible for the solvency, acts or omissions of any custodian with which the Custody Assets are held except where we have acted negligently, fraudulently or in willful default in relation to the appointment of a custodian. Consequently, if the custodian becomes insolvent, there may be some risk to your Custody Assets. 20.2. Custody Assets which are in registerable form may be registered in your name. Subject always to Applicable Law and to legislation applicable to the relevant Custody Assets, you agree that registerable Custody Assets may also be registered in the name of a third party or in our name.