Compulsory Securities Depository definition

Compulsory Securities Depository means a foreign Securities Depository or clearing agency that, either as a legal or practical matter, must be used if the Fund determines to place Foreign Assets in a country outside the United States (i) because required by law or regulation; (ii) because securities cannot be withdrawn from such foreign Securities Depository or clearing agency; or (iii) because maintaining or effecting trades in securities outside the foreign Securities Depository or clearing agency is not consistent with prevailing or developing custodial or market practices.
Sample 1Sample 2Sample 3
Compulsory Securities Depository means a securities depository or clearing agency the use of which is mandatory (i) by law or regulation; (ii) because securities cannot be withdrawn from the depository or clearing agency; or (iii) because maintaining securities outside the securities depository or clearing agency is not consistent with prevailing local custodial practices. PNC Bank, or such entity as it may designate for this purpose, shall inform the Fund in writing of the name and location of each Compulsory Securities Depository and the factors used to determine that the securities depository is a Compulsory Securities Depository.
Sample 1Sample 2Sample 3
Compulsory Securities Depository means a securities depository or clearing agency listed on Exhibit B to the Agreement, as such Exhibit may be amended from time to time by the Custodian by written notice to the Client, or upon Authorized Instructions.
Sample 1Sample 2Sample 3

Examples of Compulsory Securities Depository in a sentence

  • Compulsory Securities Depository - shall mean a Securities Depository the use of which is mandatory (i) under applicable law or regulation; (ii) because securities cannot be withdrawn from the depository; or, (iii) because maintaining securities outside the Securities Depository is not consistent with prevailing custodial practices.

  • Subject to the provisions of this Section 4, the Special Foreign Custody Manager may place and maintain the Foreign Assets in the Care of the Compulsory Securities Depository selected by the Special Foreign Custody Manager in each country listed on Schedule A, as amended from time to time.

  • Compulsory Securities Depository means a Securities Depository the use of which is mandatory (i) by law or regulation; (ii) because securities cannot be withdrawn from the depository; or (iii) because maintaining securities outside the Securities Depository is not consistent with prevailing custodial practices.

  • The Special Foreign Custody Manager shall report the withdrawal of the Foreign Assets from a Compulsory Securities Depository by providing the Board amended Schedules A or B at the end of the calendar quarter in which an amendment to either Schedule has occurred.

  • The Special Foreign Custody Manager shall determine that the contract with each Compulsory Securities Depository selected by the Special Foreign Custody Manager (or if no contract exists, the rules or established practices or procedures of the Compulsory Foreign Securities Depository) will satisfy the requirements of Section (c)(2) of the Rule.

  • Such instruction shall be deemed to include an instruction to use any Compulsory Securities Depository in any such country and shall represent a Proper Instruction under the terms of the Custodian Agreement.

  • Upon closing the Fund's account with the Compulsory Securities Depository, the Adviser shall immediately cease to be the Special Foreign Custody Manager of the Fund with respect to the country.

  • Annually, or at such greater frequency as a Fund may reasonably request, the Delegate shall provide to the Board written reports specifying placement of the Fund's Assets with each Eligible Foreign Custodian selected by the Delegate pursuant to Section 3, and each Compulsory Securities Depository in which Fund Assets are maintained.

  • I also hold that all participants in the study pursue discernment daily, if not weekly, because it is equated with the voice of God.

  • Such instruction shall be deemed to include an instruction to use any Compulsory Securities Depository in any such country and shall represent a Proper Instruction under the terms of the Subcustodian Agreement.


More Definitions of Compulsory Securities Depository

Compulsory Securities Depository means a Securities Depository the use of which is mandatory (i) under applicable law or regulation; (ii) because securities cannot be withdrawn from the depository; or (iii) because maintaining securities outside the Securities Depository is not consistent with prevailing custodial practices.
Sample 1Sample 2

Related to Compulsory Securities Depository

  • Mandatory Securities Depository means a foreign securities depository or clearing agency that, either as a legal or practical matter, must be used if the Fund determines to place Foreign Assets in a country outside the United States (i) because required by law or regulation; (ii) because securities cannot be withdrawn from such foreign securities depository or clearing agency; or (iii) because maintaining or effecting trades in securities outside the foreign securities depository or clearing agency is not consistent with prevailing or developing custodial or market practices.

  • Securities Depository means The Depository Trust Company and any other clearing agency registered with the SEC under Section 17A of the Securities Exchange Act of 1934, as amended (the “1934 Act”), which acts as a system for the central handling of Securities where all Securities of any particular class or series of an issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of the Securities.

  • Eligible Securities Depository has the meaning set forth in section (b)(1) of Rule 17f-7.

  • central securities depository means a person or company that provides centralized facilities as a depository of securities, including securities accounts, central safekeeping services and asset services, which may include the administration of corporate actions and redemptions;

  • Foreign Securities Depository means a foreign securities clearing system qualifying as an Eligible Securities Depository (as defined in Section (b)(1) of Rule 17f-7 under the 0000 Xxx) that is listed on Schedule B annexed hereto, as amended from time to time pursuant to Section 4.5 hereof.

  • Securities Depositories means DTC; and, in accordance with then current guidelines of the Securities and Exchange Commission, such other addresses and/or such other securities depositories as the District may designate in a Written Request of the District delivered to the Paying Agent.

  • Book-Entry Securities Securities maintained in the form of entries (including, without limitation, the Security Entitlements in such Securities) in the commercial book-entry system of the Fed and held for the Trustee, directly or indirectly, by any Trustee's Fed Member. Book-Entry Securities shall not include, in any event, any Certificated Security (or any Security Entitlement in any Certificated Security) held, directly or indirectly, through a Clearing Corporation.

  • eligible foreign securities depository means a securities depository or clearing agency, incorporated or organized under the laws of a country other than the United States, which operates (i) the central system for handling securities or equivalent book-entries in that country, or (ii) a transnational system for the central handling of securities or equivalent book-entries. The Customer represents that its Board of Directors has approved each of the Subcustodians listed in Schedule B to this Agreement and the terms of the subcustody agreements between the Bank and each Subcustodian, which are attached as Exhibits I through of Schedule B, and further represents that its Board has determined that the use of each Subcustodian and the terms of each subcustody agreement are consistent with the best interests of the Fund(s) and its (their) shareholders. The Bank will supply the Customer with any amendment to Schedule B for approval. As requested by the Bank, the Customer will supply the Bank with certified copies of its Board of Directors resolution(s) with respect to the foregoing prior to placing Assets with any Subcustodian so approved.

  • Securities Depository Nominee means, as to any Securities Depository, such Securities Depository or the nominee of such Securities Depository in whose name there shall be registered on the registration books maintained by any Registrar the Bond certificates to be delivered to and immobilized at such Securities Depository during the continuation with such Securities Depository of participation in its book-entry system.

  • Securities System means the Federal Reserve Book-Entry System, a clearing agency which acts as a Securities Depository, or another book entry system for the central handling of securities (including an Eligible Securities Depository).

  • Book-Entry Security means any Global Securities bearing the legend specified in Section 202 evidencing all or part of a series of Securities, authenticated and delivered to the Depositary for such series or its nominee, and registered in the name of such Depositary or nominee.

  • Client Securities Rules means the Securities and Futures (Client Securities) Rules (Cap 571H of the Laws of Hong Kong).

  • Uncertificated Securities Regulations means the Uncertificated Securities Regulations 2001;

  • U.S. Securities System means a securities depository or book-entry system authorized by the U.S. Department of the Treasury or a “clearing corporation” as defined in Section 8-102 of the UCC.

  • Book-Entry Custodian The custodian appointed pursuant to Section 5.01.

  • U.S. Depository or “Depository” means, with respect to any Security issuable or issued in the form of one or more global Securities, the Person designated as U.S. Depository or Depository by the Company in or pursuant to this Indenture, which Person must be, to the extent required by applicable law or regulation, a clearing agency registered under the Securities Exchange Act of 1934, as amended, and, if so provided with respect to any Security, any successor to such Person. If at any time there is more than one such Person, “U.S. Depository” or “Depository” shall mean, with respect to any Securities, the qualifying entity which has been appointed with respect to such Securities.

  • Book-Entry Capital Security means a Capital Security, the ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 5.11.

  • Underlying Securities Trustee means The Bank of New York.

  • Book-Entry System means the Federal Reserve/Treasury book-entry system for receiving and delivering securities, its successors and nominees.

  • Book-Entry Preferred Security means a Preferred Security, the ownership and transfers of which shall be made through book entries by a Depositary.

  • Depository The Depository Trust Company, or any successor Depository hereafter named. The nominee of the initial Depository for purposes of registering those Certificates that are to be Book-Entry Certificates is Cede & Co. The Depository shall at all times be a "clearing corporation" as defined in Section 8-102(a)(5) of the Uniform Commercial Code of the State of New York and a "clearing agency" registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934, as amended.

  • Restricted Global Certificate Has the meaning specified in Section 3.01(c).

  • securities settlement system means a securities settlement system (as defined in the CSD Regulation) operated by a central securities depository;

  • Securities Custodian means the Trustee, as custodian with respect to the Securities in global form, or any successor thereto.

  • Regulation S Global Certificate With respect to any Class of Book-Entry Non-Registered Certificates offered and sold to institutions that are non-United States Securities Persons in Offshore Transactions in reliance on Regulation S, a single global Certificate, or multiple global Certificates collectively, in definitive, fully registered form without interest coupon, each of which Certificates bears a Regulation S Legend.

  • U.S. Depositary means, with respect to the Securities of any series issuable or issued in whole or in part in the form of one or more permanent global Securities, the person designated as U.S. Depositary by the Company pursuant to Section 2.03(b), which must be a clearing agency registered under the Exchange Act, until a successor U.S. Depositary shall have become such pursuant to the applicable provisions of this Indenture, and thereafter “U.S. Depositary” shall mean or include each person who is then a U.S. Depositary hereunder, and if at any time there is more than one such person, “U.S. Depositary” as used with respect to the Securities of any series shall mean the U.S. Depositary with respect to the Securities of such series.