Funds held by Agents Clause Samples
The 'Funds held by Agents' clause defines the rules and responsibilities regarding money or assets that are temporarily held by agents on behalf of the parties involved in an agreement. Typically, this clause outlines how agents must safeguard, account for, and possibly disburse these funds, often requiring them to keep such funds separate from their own assets and to follow specific instructions for their use. Its core practical function is to ensure the proper handling and security of funds, reducing the risk of misappropriation or confusion over ownership while the funds are in the agent's possession.
Funds held by Agents. The Agents will hold all funds subject to the terms of this Indenture.
Funds held by Agents. The Agents will hold all funds as banker subject to the terms of this Indenture and as a result, such money will not be held in accordance with the rules established by the Financial Conduct Authority in the Financial Conduct Authority’s Handbook of rules and guidance from time to time in relation to client money.
Funds held by Agents. The Paying Agent will hold all funds as banker subject to the terms of this Indenture and as a result, such money will not be held in accordance with the rules established by the Financial Conduct Authority in the Financial Conduct Authority’s Handbook of rules and guidance from time to time in relation to client money. No Agent shall be liable for interest on any money received by it. Moneys held by Agents need not be segregated from other funds except to the extent required by law.
Funds held by Agents. The Agents shall have no responsibility for interest or income on any funds held by it hereunder.
Funds held by Agents. The Agents will hold all funds paid to them by the Issuer for the purposes of the appointment in the same manner as other money paid to a banker by its customers subject to the terms of this Indenture and as a result, such money will not be held in accordance with the rules established by the UK Financial Conduct Authority in the Financial Conduct Authority’s Handbook of rules and guidance from time to time in relation to client money, except that the Agents shall not exercise any right of set-off, lien or similar claim in respect of the money.
Funds held by Agents. The Agents will hold all funds as banker subject to the terms of this Indenture and as a result such money need not be segregated from other funds except to the extent required by law.
Funds held by Agents. The Agents shall have no responsibility for interest or income on any funds held by it hereunder. Funds held by any Agent pursuant to this Agreement need not be segregated from other funds except to the extent required by law.