Common use of Review of Statements Clause in Contracts

Review of Statements. If, within ninety (90) days after the Custodian makes available to the Security Provider and the Secured Party a statement with respect to the Accounts, the Security Provider has not given the Custodian written notice of any exception or objection thereto, the statement shall be deemed to have been approved. In case of an exception or objection being raised, the Custodian shall address with reasonable efforts such exception or objection.

Appears in 2 contracts

Sources: Custody Agreement, Collateral Security Agreement