FCM Agreement definition
Examples of FCM Agreement in a sentence
Custodian may, with respect to questions of law arising under any FCM Agreement, apply for and obtain the advice and opinion of counsel to the Trust at the expense of the Trust, or of its own counsel at its own expense, and shall be fully protected with respect to anything done or omitted by it in good faith in conformity with such advice or opinion.
Such FCM Agreements shall only be entered into by Custodian upon receipt by Custodian of Written Instructions from the Trust which state that: (i) an FCM Contract has been entered into; (ii) the Trust is in compliance with all the rules and regulations of the CFTC; and (iii) the FCM Agreement is acceptable to the Trust.
Transfers of funds from a FCM Account to the FCM for which Custodian holds such an account may only occur in accordance with the terms of the FCM Agreement.
Transfers of funds from an FCM Account to the FCM for which Custodian holds such an account may only occur in accordance with the terms of the FCM Agreement.
Pursuant to an FCM Agreement, the Fund's margin deposits in any transactions involving futures contracts and options on futures contracts will be held by PNC Bank in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with the customer contract between FCM and the Fund ("FCM Contract"), SEC rules and the rules of the applicable commodities exchange.
Transfers of funds from a FCM Account to the FCM for which PNC Bank holds such an account may only occur upon certification by the FCM to PNC Bank that pursuant to the FCM Agreement and the FCM Contract, all conditions precedent to its right to give PNC Bank such instructions have been satisfied.
In the event of a conflict between the terms hereof and the FCM Agreement this Agreement shall control.
Pursuant to an FCM Agreement, margin deposits with respect to any transactions involving futures contracts and options on futures contracts will be held by PFPC Trust in accounts ("FCM Account") subject to the disposition by the FCM involved in such contracts and in accordance with applicable SEC rules and the rules of the applicable commodities exchange.
Such FCM Agreements shall only be entered into by Custodian upon receipt by Custodian of Written Instructions from Master Trust which state that: (i) an FCM Contract has been entered into; (ii) Master Trust is in compliance with all the rules and regulations of the CFTC; and (iii) the FCM Agreement is acceptable to Master Trust.
Custodian may, with respect to questions of law arising under any FCM Agreement, apply for and obtain the advice and opinion of counsel to Master Trust at the expense of Master Trust, or of its own counsel at its own expense, and shall be fully protected with respect to anything done or omitted by it in good faith in conformity with such advice or opinion.