Settlement of Trades. When Bank receives an Instruction directing settlement of a trade in Financial Assets that includes all information required by Bank, Bank shall use reasonable care to effect such settlement as instructed. Settlement of purchases and sales of Financial Assets shall be conducted in accordance with prevailing standards of the market in which the transaction occurs. The risk of loss shall be Customer's whenever Bank delivers Financial Assets or payment in accordance with applicable market practice in advance of receipt or settlement of the expected consideration. In the case of the failure of Customer's counterparty to deliver the expected consideration as agreed, Bank shall contact the counterparty to seek settlement and, if the settlement is not received, notify Customer, but Bank shall not be obligated to institute legal proceedings, file proof of claim in any insolvency proceeding, or take any similar action.
Settlement of Trades. When Bank receives an Instruction directing settlement of a transaction in Financial Assets that includes all information required by Bank, Bank will use reasonable care to effect such settlement as instructed. Settlement of transactions in Financial Assets will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the risk of loss will be Customer’s whenever Bank delivers Financial Assets or payment in accordance with applicable market practice in advance of receipt or settlement of the expected consideration. In the case of the failure of Customer’s counterparty (or other appropriate party) to deliver the expected consideration as agreed, Bank will contact the counterparty to seek settlement, but Bank will not be obligated to institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.
Settlement of Trades. When Bank receives an Instruction directing settlement of a transaction in (i.e., purchase or sale of) Financial Assets that includes all information reasonably required by Bank, Bank will use reasonable care to effect such settlement as instructed. Settlement of transactions in Financial Assets will be conducted in accordance with prevailing standards of the market in which the transaction occurs for transactions by Institutional Clients. Notwithstanding applicable market standards, the Bank shall not deliver Financial Assets or payment in advance of receipt or settlement of the expected consideration unless instructed to do so by Customer. In the case of the failure of Customer's counterparty to deliver the expected consideration as agreed, Bank will contact the counterparty to seek settlement, but Bank will not be obligated to institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.
Settlement of Trades. When Bank receives an Instruction directing settlement of a transaction in Financial Assets that includes all information required by Bank, Bank will use reasonable care to effect such settlement as instructed. Settlement of transactions in Financial Assets will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the risk of loss will be Customer’s whenever Bank delivers Financial Assets or payment in accordance with applicable market practice in advance of receipt or settlement of the expected consideration. In the case of the failure of Customer’s counterparty (or other appropriate party) to deliver the expected consideration as agreed, Bank will contact the counterparty to seek settlement, but Bank will not be obligated to institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action. Bank reserves the right to reverse any transactions that are erroneously credited to the Accounts due to mis-postings, errors and other similar actions.
Settlement of Trades. Settlement of Exchange Trades
Settlement of Trades. If a transaction initiated through the National Securities Clearing Corporation's ("NSCC") Fund/SERV system ("Fund/SERV") fails to be processed systematically then the following process would be undertaken. Clearing Broker and Distributor will each use their best efforts to cause to be transmitted by federal funds wire on the Business Day immediately following trade date (and in any event no later than the settlement date of the transaction), to an account designated by the counterparty, the proceeds of all redemption orders and the purchase price of all purchase orders. Clearing Broker may settle transactions (a) by making payment of the full purchase price to the Fund's transfer agent (the identity of which will be provided to the Clearing Broker by the Distributor in writing) or written instructions received by Clearing Broker from Distributor, in each case in accordance with the applicable Fund Prospectus If such payment is not received by the end of the seventh business day following Clearing Broker's transmission of the Customer's order, the sale may be canceled forthwith, on immediate written notice to Clearing Broker, without any responsibility or liability on Distributor's part or on the part of the Funds to Clearing Broker or the Customer. In addition, Clearing Broker may be held responsible to the Fund and/or the Distributor for any losses suffered as a result.
Settlement of Trades. 4 2.5 Contractual Settlement Date Accounting.............................5 2.6 Actual Settlement Date Accounting..................................5 2.7 Income Collection; Autocredit......................................5 2.8 Fractions/ Redemptions by Lot......................................6 2.9 Presentation of Coupons; Certain
Settlement of Trades. Both Pershing and Fund will use their best efforts to cause to be transmitted by wire on the Business Day immediately following trade date (settlement date) to an account as directed by the counterpart, the proceeds of all redemption orders and the purchase price of all purchase orders.
Settlement of Trades. When Bank receives an Instruction directing settlement of a transaction in Financial Assets that includes all information required by Bank, Bank will use reasonable care to effect such settlement as instructed. Settlement of transactions in Financial Assets will be conducted in accordance with prevailing standards of the market in which the transaction occurs; provided that, wherever practicable, transactions will be settled on a "delivery versus payment" basis. Without limiting the generality of the foregoing, the risk of loss will be Customer's whenever Bank delivers Financial Assets or payment in accordance with applicable market practice in advance of receipt or settlement of the expected consideration. In the case of the failure of Customer's counterparty (or other appropriate party) to deliver the expected consideration as agreed, Bank will contact the counterparty to seek settlement, but Bank will not be obligated to institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.
Settlement of Trades. (a) When Bank receives an Instruction directing settlement of a transaction in (i.e., purchase or sale of) Financial Assets that includes all information reasonably required by Bank, Bank will use reasonable care and good faith to effect such settlement as instructed. Settlement of transactions in Financial Assets will be conducted in accordance with the rules of the applicable Securities Depository or otherwise in accordance with Applicable Law, generally accepted trade practices, or the terms of the instrument representing such Financial Asset.
