Safekeeping of Drafts Sample Clauses

Safekeeping of Drafts. The responsibility of the Agent and the Lenders in respect of the safekeeping of Drafts, Bankers’ Acceptances and other bills of exchange which are delivered to any of them hereunder shall be limited to the exercise of the same degree of care which such party gives to its own property, provided that such party shall not be deemed to be an insurer thereof.
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Safekeeping of Drafts. The Canadian Lenders agree that, in respect of the safekeeping of executed drafts of the Canadian Borrower which are delivered to them for acceptance hereunder, they shall exercise the same degree of care which the Canadian Lenders give to their own property, provided that the Canadian Lenders shall not be deemed to be insurers thereof.
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Safekeeping of Drafts. The Canadian Lenders agree that, in respect of the safekeeping of executed drafts of Celestica or any Canadian Designated Subsidiary which are delivered to them for acceptance hereunder, they shall exercise the same degree of care which the Canadian Lenders give to their own property, provided that the Canadian Lenders shall not deemed to be insurers thereof.
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Safekeeping of Drafts. Any executed Drafts to be used for Bankers' Acceptances which are held by any Bank need only be held in safekeeping with the same degree of care as if they were that Bank's own property and that Bank was keeping them at a place at which they are to be held. The Borrower shall, by written notice to the Agent, designate the Persons authorized to give the Agent and each Bank instructions regarding the manner in which the Bankers' Acceptances are to be completed and the times at which they are to be issued. Neither the Agent nor the Banks or any of their respective directors, officers, employees or representatives shall be liable for any action taken or omitted to be taken by any of them under this Section except for their own gross negligence or wilful misconduct.
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Safekeeping of Drafts. The Relevant Lenders agree that, in respect of the safekeeping of executed drafts or depository bills which are delivered to them for acceptance hereunder, they shall exercise the same degree of care which the Relevant Lenders give to their own property; provided that the Relevant Lenders shall not be deemed to be insurers thereof. To facilitate the drawing of drafts or depository bills by the Canadian Borrower for acceptance as Bankers’ Acceptances hereunder, and the making by the Canadian Borrower of Acceptance Notes for acceptance by the Relevant Lenders hereunder, the Canadian Borrower hereby irrevocably appoints the proper officers of each Relevant Lender as its lawful attorneys-in-fact to complete, execute and deliver all such drafts and depository bills and Acceptance Notes on behalf and in the name of the Canadian Borrower, and any such draft or Acceptance Note so completed, executed and delivered on behalf and in the name of the Canadian Borrower by any such officer or officers of any Relevant Lender shall be valid, binding and enforceable against the Canadian Borrower to the same extent as if such draft, depository xxxx or Acceptance Note was executed and delivered by the proper officers of such Relevant Lender in its name and on its behalf. Bankers’ Acceptances accepted under this Agreement shall be in the form provided by the Relevant Lender or Relevant Lenders accepting such Bankers’ Acceptances. The Canadian Borrower recognizes and agrees that all Bankers’ Acceptances signed and/or endorsed by a Relevant Lender on behalf of the Canadian Borrower shall bind the Canadian Borrower as fully and effectually as if signed in the handwriting of and duly issued by the proper signing officers of the Canadian Borrower. Each Relevant Lender is hereby authorized (in accordance with a Notice of Borrowing relating to a Bankers’ Acceptance Loan) to issue such Bankers’ Acceptances endorsed in blank in such face amounts as may be determined by such Relevant Lender; provided that the aggregate amount thereof is equal to the aggregate amount of Bankers’ Acceptances required to be accepted and purchased by such Relevant Lender. No Relevant Lender shall be liable for any damage, loss or other claim arising by reason of any loss or improper use of any such instrument except the gross negligence or willful misconduct of the Relevant Lender or its officers, employees, agents or representatives. Each Relevant Lender shall maintain a record with respect to Bankers’ Acc...
Sample 1
Safekeeping of Drafts. The responsibility of the Agent and the Lenders in respect of the safekeeping of Drafts, Bankers’ Acceptances and other bills of exchange which are delivered to any of them hereunder shall be RBC – AltaLink (AILP) – 2015 Amended and Restated Credit Agreement Legal_1:35701022.7 limited to the exercise of the same degree of care which such party gives to its own property, provided that such party shall not be deemed to be an insurer thereof.
Sample 1
Safekeeping of Drafts. The Lenders agree that, in respect of the safekeeping of executed drafts of Celestica or any Canadian Designated Subsidiary which are delivered to them for acceptance hereunder, they shall exercise the same degree of care which the Lenders give to their own property, provided that the Lenders shall not deemed to be insurers thereof.
Sample 1
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Safekeeping of Drafts. The Lenders agree that, in respect of the safekeeping of executed drafts of the Borrower which are delivered to them for acceptance hereunder, they shall exercise the same degree of care which the Lenders give to their own property; provided that the Lenders shall not be deemed to be insurers thereof.
Sample 1
Safekeeping of Drafts. The Canadian Borrower shall provide each BA Lender with a series of blank drafts to be used in accordance with Section 8.5. Any drafts to be used for Bankers’ Acceptances shall be held by the applicable BA Lender in safekeeping with the same degree of care as if they were such BA Lender’s own property. The Canadian Borrower may, by written notice to the Agent, designate persons other than senior officers of the Canadian Borrower to give the Agent instructions regarding the manner in which drafts are to be completed and the times at which they are to be issued; provided however that receipt by the Agent of a Drawdown Request requesting an Advance by way of Bankers’ Acceptances shall be deemed to be sufficient authority from senior officers of the Canadian Borrower or such designated persons for each of the BA Lenders to complete, and issue drafts in accordance with such notice. None of the Agent nor any of the applicable Lenders nor any of their respective directors, officers, employees, agents, representatives or Affiliates (in this Section, each an “Indemnified Party”) shall be liable for any action taken or omitted to be taken by any of them under this Section except for liability which is found in a final non-appealable judgment by a court of competent jurisdiction to have resulted from such Indemnified Party’s gross negligence or wilful misconduct.
Sample 1

Related to Safekeeping of Drafts

  • Safekeeping The Servicer (or its Affiliates, but only in accordance with the second following sentence) shall hold the Receivable Files for the benefit of the Issuing Entity and the Indenture Trustee and maintain such accurate and complete accounts, records and computer systems pertaining to each Receivable File as shall enable the Issuing Entity to comply with this Agreement. In performing its duties as custodian, the Servicer shall act with reasonable care, using that degree of skill and attention that the Servicer exercises with respect to the receivable files relating to all comparable equipment receivables that the Servicer services for its Affiliates or others. The Servicer, in its capacity as custodian, may at any time delegate its duties as custodian to any Affiliate of the Servicer; provided, that no such delegation shall relieve the Servicer of its responsibility with respect to such duties and the Servicer shall remain obligated and liable to the Issuing Entity, the Depositor and the Indenture Trustee for its duties hereunder as if the Servicer alone were performing such duties. The Servicer shall conduct, or cause to be conducted, periodic audits of the Receivable Files and the related accounts, records and computer systems, in such a manner as shall enable the Issuing Entity or the Indenture Trustee to verify the accuracy of the Servicer’s record keeping. The Servicer shall promptly report to the Issuing Entity and the Indenture Trustee any material failure on its part, or its Affiliate’s part, to hold the Receivable Files and maintain its accounts, records and computer systems as herein provided and promptly take appropriate action to remedy any such failure. Nothing herein shall be deemed to require an initial review or any periodic review by the Issuing Entity, the Trustee or the Indenture Trustee of the Receivable Files.

  • Safekeeping of Fund Assets The Custodian shall hold Investments delivered to it or Subcustodians for the Fund in accordance with the provisions of this Section. The Custodian shall not be responsible for (a) the safekeeping of Investments not delivered or that are not caused to be issued to it or its Subcustodians; or, (b) pre-existing faults or defects in Investments that are delivered to the Custodian or its Subcustodians. The Custodian is hereby authorized to hold with itself or a Subcustodian, and to record in one or more accounts, all Investments delivered to and accepted by the Custodian, any Subcustodian or their respective agents pursuant to an Instruction or in consequence of any corporate action or income event. The Custodian shall hold Investments for the account of the Fund and shall segregate Investments from assets belonging to the Custodian and shall cause its Subcustodians to segregate Investments from assets belonging to the Subcustodian in an account held for the Fund or in an account maintained by the Subcustodian generally for non-proprietary assets of the Custodian.

  • Agent’s Own Account; Clients’ Account The Company consents to the Agent trading, in compliance with applicable law, in the Common Shares for the Agent’s own account and for the account of its clients at the same time as sales of the Shares occur pursuant to this Agreement.

  • Documents Records and Funds in Possession of Master Servicer to be Held for the Trustee Notwithstanding any other provisions of this Agreement, the Master Servicer shall transmit to the Trustee as required by this Agreement all documents and instruments in respect of a Mortgage Loan coming into the possession of the Master Servicer from time to time and shall account fully to the Trustee for any funds received by the Master Servicer or which otherwise are collected by the Master Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Master Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Certificate Account, shall be held by the Master Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Master Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Certificate Account, Distribution Account or any Escrow Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Master Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Master Servicer under this Agreement.

  • Documents, Records and Funds in Possession of Master Servicer To Be Held for Trustee (a) The Master Servicer shall transmit and each Servicer (to the extent required by the related Servicing Agreement) shall transmit to the Trustee or Custodian such documents and instruments coming into the possession of the Master Servicer or such Servicer from time to time as are required by the terms hereof, or in the case of the Servicers, the applicable Servicing Agreement, to be delivered to the Trustee or Custodian. Any funds received by the Master Servicer or by a Servicer in respect of any Mortgage Loan or which otherwise are collected by the Master Servicer or by a Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan shall be held for the benefit of the Trustee and the Certificateholders subject to the Master Servicer's right to retain or withdraw from the Master Servicer Collection Account the Master Servicing Compensation and other amounts provided in this Agreement, and to the right of each Servicer to retain its Servicing Fee and other amounts as provided in the applicable Servicing Agreement. The Master Servicer shall, and (to the extent provided in the applicable Servicing Agreement) shall cause each Servicer to, provide access to information and documentation regarding the Mortgage Loans to the Trustee, its agents and accountants at any time upon reasonable request and during normal business hours, and to Certificateholders that are savings and loan associations, banks or insurance companies, the Office of Thrift Supervision, the FDIC and the supervisory agents and examiners of such Office and Corporation or examiners of any other federal or state banking or insurance regulatory authority if so required by applicable regulations of the Office of Thrift Supervision or other regulatory authority, such access to be afforded without charge but only upon reasonable request in writing and during normal business hours at the offices of the Master Servicer designated by it. In fulfilling such a request the Master Servicer shall not be responsible for determining the sufficiency of such information.

  • Disbursement of Moneys from Fund Custody Account Upon receipt of Proper Instructions, the Custodian shall disburse moneys from the Fund Custody Account but only in the following cases:

  • Agreement with Respect to Safekeeping Business The Receiver transfers, conveys and delivers to the Assuming Institution and the Assuming Institution accepts all securities and other items, if any, held by the Failed Bank in safekeeping for its customers as of Bank Closing. The Assuming Institution assumes and agrees to honor and discharge, from and after Bank Closing, the duties and obligations of the Failed Bank with respect to such securities and items held in safekeeping. The Assuming Institution shall be entitled to all rights and benefits heretofore accrued or hereafter accruing with respect thereto. The Assuming Institution shall provide to the Receiver written verification of all assets held by the Failed Bank for safekeeping within sixty (60) days after Bank Closing. The assets held for safekeeping by the Failed Bank shall be held and maintained by the Assuming Institution in the trade area of the Failed Bank for a minimum of one year from Bank Closing. At the option of the Assuming Institution, the safekeeping business may be provided at any or all of the Bank Premises, or at other premises within such trade area. The trade area shall be determined by the Receiver. Fees related to the safekeeping business earned prior to the Bank Closing Date shall be for the benefit of the Receiver and fees earned after the Bank Closing Date shall be for the benefit of the Assuming Institution.

  • Administration of Equipment 24 6.4.1. Records and Schedules of Equipment...................................................................24 6.4.2. Dispositions of Equipment............................................................................24 6.5.

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