Foreign Custody Manager definition

Foreign Custody Manager has the meaning set forth in section (a)(3) of Rule 17f-5.

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Foreign Custody Manager means the Fund’s foreign custody manager appointed pursuant to Rule 17f-5 of the 1940 Act.

Foreign Custody Manager shall have the meaning assigned to it in Rule 17f-5.

Examples of Foreign Custody Manager in a sentence

The Foreign Custody Manager will (i) report the withdrawal of Foreign Assets from an Eligible Foreign Custodian and the placement of Foreign Assets with another Eligible Foreign Custodian by providing to the Client an updated Schedule A at the end of the calendar quarter in which the action has occurred, and (ii) promptly after the occurrence of any other material change in the foreign custody arrangements of the Client, make a written report available to the Client containing a notification of the change.
Upon reasonable prior written notice to the Client, the Foreign Custody Manager may withdraw its acceptance of such delegated responsibilities generally or with respect to a specified Covered Foreign Country, and the Custodian will have no further responsibility in its capacity as Foreign Custody Manager to the Client generally or with respect to the designated Covered Foreign Country, as applicable.
The Foreign Custody Manager will notify the Client if it determines that the custody arrangements with an Eligible Foreign Custodian are no longer appropriate, including if such arrangements have ceased to meet the requirements of Rule 17f-5 under the 1940 Act, and will act in accordance with the Client’s Proper Instructions with respect to the disposition of the affected Foreign Assets.
The Client, by resolution of its Board, delegates to the Custodian, pursuant to Rule 17f-5(b), and until such delegation may be rescinded by delivery of Proper Instructions, the obligations to perform as the Client’s Foreign Custody Manager and, unless the Custodian advises the Client that it does not accept such delegation with respect to a country, the Custodian accepts such delegation.
Client represents to the Custodian that its Board has (i) determined that it is reasonable for the Board to rely on the Custodian to perform the responsibilities delegated pursuant to this Agreement to the Custodian as the Foreign Custody Manager of the Client, and (ii) considered and determined to accept the risk described in the first sentence of Section 19.2 as is incurred by placing and maintaining the Client’s Foreign Assets in each Covered Foreign Country.

More Definitions of Foreign Custody Manager

Foreign Custody Manager has the meaning set forth in Section (a)(3) of Rule 17f-5 promulgated under the 1940 Act.

Foreign Custody Manager or "FCM" has the meaning set forth in section (a)(2) of Rule 17f-5.

Foreign Custody Manager means a Foreign Custody Manager as defined in Rule 17f-5(a)(3) under the 1940 Act.

Foreign Custody Manager has the meaning set forth in section (a)(3) of Rule 17f-5 (as such term may be interpreted or modified by appropriate action of the SEC).

Foreign Custody Manager has the same meaning as in Rule 17f-5 under the 1940 Act.

Foreign Custody Manager has the meaning set forth in section (a)(3) of Rule 17f-5. “Rule 17f-5” means Rule 17f-5 promulgated under the 1940 Act.

Foreign Custody Manager has the meaning set forth in section (a)(2) of Rule 17f-5; it is a Fund's Board of Directors or any person serving as the Board's delegate under sections (b) or (d) of Rule 17f-5.