Failure to Process Instructions. If (i) Customer provides BNPP PB with instructions in respect of corporate actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days notice prior to the relevant exercise deadline, and (iii) BNPP PB fails to process Customer’s instructions in a commercially reasonable manner, BNPP PB shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to BNPP PB’s failure.
Appears in 10 contracts
Samples: Account Agreement (Muzinich BDC, Inc.), Pb Agreement (Fiduciary/Claymore Energy Infrastructure Fund), Account Agreement (Guggenheim Strategic Opportunities Fund)
Failure to Process Instructions. If (i) Customer provides BNPP PB PB, Inc. with instructions in respect of corporate actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days notice prior to the relevant exercise deadline, and (iii) BNPP PB PB, Inc. fails to process Customer’s instructions in a commercially reasonable manner, BNPP PB PB, Inc. shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to BNPP PB, Inc.’s failure.
Appears in 7 contracts
Samples: Account Agreement (FS Global Credit Opportunities Fund), Account Agreement (FS Energy Total Return Fund), Pb Agreement (FS Credit Income Fund)
Failure to Process Instructions. If (i) Customer provides BNPP PB PB, Inc. with instructions in respect of corporate actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days Days’ notice prior to the relevant exercise deadline, and (iii) BNPP PB PB, Inc. fails to process Customer’s instructions in a commercially reasonable manner, BNPP PB PB, Inc. shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to BNPP PB, Inc.’s failure.
Appears in 2 contracts
Samples: Account Agreement (Corporate Capital Trust, Inc.), Pb Agreement (NexPoint Credit Strategies Fund)
Failure to Process Instructions. If (i) Customer provides BNPP PB with instructions in respect of corporate actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days notice prior to the relevant exercise deadline, and (iii) BNPP PB fails to process Customer’s 's instructions in a commercially reasonable manner, BNPP PB shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to BNPP PB’s 's failure.
Appears in 1 contract
Samples: Account Agreement (Guggenheim Credit Allocation Fund)
Failure to Process Instructions. If (i) Customer provides BNPP PB PB, Inc. with instructions in respect of corporate actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days notice prior to the relevant exercise deadline, and (iii) BNPP PB PB, Inc. fails to process Customer’s 's instructions in a commercially reasonable manner, BNPP PB PB, Inc. shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to BNPP PB’s , Inc.'s failure.
Appears in 1 contract
Samples: Pb Agreement (Guggenheim Enhanced Equity Income Fund (F/K/a Old Mutual/Claymore Long-Short Fund))
