ELIGIBLE SECURITIES DEPOSITORY Sample Clauses
The Eligible Securities Depository clause defines the criteria and standards that a securities depository must meet to be considered acceptable for holding and transferring securities under the agreement. Typically, this clause specifies requirements such as regulatory oversight, operational reliability, and financial stability, and may list specific depositories or set out a process for determining eligibility. Its core practical function is to ensure that securities are held in secure, reputable institutions, thereby reducing counterparty and operational risks for the parties involved.
ELIGIBLE SECURITIES DEPOSITORY. Foreign Assets will be maintained in an Eligible Securities Depository in a designated country through arrangements implemented by Provider or an Eligible Foreign Custodian, as applicable, in such country.
ELIGIBLE SECURITIES DEPOSITORY. In selecting an Eligible Securities Depository, Custodian shall exercise reasonable care, prudence, and diligence in evaluating the custody risks associated with maintaining Securities with the Eligible Securities Depository under Custodian's custody arrangements with any relevant Eligible Foreign Custodian and the Eligible Securities Depository.
ELIGIBLE SECURITIES DEPOSITORY. Eligible Securities Depository means a system for the central handling of securities as defined in SEC Rule 17f-7.
ELIGIBLE SECURITIES DEPOSITORY. Eligible Securities Depository has the meaning set forth in Rule 17f-7(b)(1).
ELIGIBLE SECURITIES DEPOSITORY. The Custody Agreement is amended by replacing the term "Securities Depository" with the term "Domestic Securities Depository" in Article III.5, 6(a), and 7(b).
ELIGIBLE SECURITIES DEPOSITORY. In selecting an Eligible Securities Depository, Custodian shall exercise reasonable care, prudence, and diligence in evaluating the custody risks associated with maintaining Securities with the Eligible Securities Depository under Custodian's custody arrangements with any relevant Eligible Foreign Custodian and the Eligible Securities Depository. The Custodian (or its agent) will provide the Principal or the Manager an analysis of the custody risks associated with maintaining assets with an Eligible Securities Depository. In addition, the Custodian (or its agent) will monitor the custody risks associated with maintaining assets with an Eligible Securities Depository on a continuing basis and will promptly notify the Principal or the Manager of any material change in these risks.