Mandatory Securities Depository definition

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in a country outside the United States (i) because required by law or regulation; (ii) because securities cannot be withdrawn from such foreign securities depository or clearing agency; or (iii) because maintaining or effecting trades in securities outside the foreign securities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.
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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, on the Portfolios' behalf, 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in a country outside the United States (i) because required by law or regulation; (ii) because securities cannot be withdrawn from such foreign securities depository or clearing agency; or (iii) because maintaining or effecting trades in securities outside the foreign securities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.
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Mandatory 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means a Securities Depository the use of which is mandatory (i) by law or regulation; (ii) because securities cannot be withdrawn from the depository; (iii) because maintaining securities outside the Securities Depository would impair the liquidity of the securities because settlement within the depository is mandatory and the period of time required to deposit securities is longer than the settlement period or where particular classes of transactions, such as large trades or turn-around trades, are not available if the securities are held in physical form; or (iv) because maintaining securities outside of the Securities Depository is not consistent with prevailing custodial or market practices generally accepted by institutional investors.
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Examples of Mandatory Securities Depository in a sentence

  • Custodians For each Eligible Foreign Custodian selected by the Foreign Custody Manager, the Foreign Custody Manager shall (or, in the case of a Securities Depository which is not a Mandatory Securities Depository, may under the rules or established practices or procedures of the Securities Depository) enter into a written contract governing the Fund's foreign custody arrangements with the Eligible Foreign Custodian.

  • This Agreement supersedes and replaces the Foreign Country Selection and Mandatory Securities Depository Responsibilities Delegation Agreement dated September 9, 1998, as amended.

  • This Amendment No. 1 dated as of September 28, 1998, amends the Foreign Country Selection and Mandatory Securities Depository Responsibilities Delegation Agreement (the "Agreement"), dated September 9, 1998, between A I M Advisors, Inc., a Delaware corporation and each registered investment company (the "Investment Companies") and its respective portfolios (the "Funds") listed on the signature page thereof.

  • Establishment of a system (a) to monitor the appropriateness of maintaining the Fund's Foreign Assets with a particular Mandatory Securities Depository under Section 4 above, and the contracts governing the Funds' arrangements under Section 5 above; and (b) to notify the Funds promptly if an arrangement no longer meets the requirements of [this section B] and to withdraw promptly the Funds' Foreign Assets from such Mandatory Securities Depository in such event.

  • Determinations by AIM that the Foreign Assets will be subject to reasonable care, based on the standards applicable to custodians in the relevant market, if such Assets are held with a Mandatory Securities Depository.

  • DEPOSITORY RESPONSIBILITIES DELEGATION AGREEMENT This Amendment No. 7, dated as of November 15, 1999, amends the Foreign Country Selection and Mandatory Securities Depository Responsibilities Delegation Agreement, dated September 9, 1998, between A I M Advisors, Inc., a Delaware corporation and each registered investment company (the "Investment Companies") and its respective portfolios (the "Funds") listed on the signature page thereof (as amended and supplemented, the "Agreement").

  • This Amendment No. 5, dated as of March 1, 1999, amends the Foreign Country Selection and Mandatory Securities Depository Responsibilities Delegation Agreement, dated September 9, 1998, between A I M Advisors, Inc., a Delaware corporation and each registered investment company (the "Investment Companies") and its respective portfolios (the "Funds") listed on the signature page thereof (as amended and supplemented, the "Agreement").

  • Implementation of the Funds' foreign custody arrangements pursuant to written contracts, by the rules or established practices or procedures of the Mandatory Securities Depository, or by any combination of the foregoing that AIM determines will provide reasonable care for the Funds' Foreign Assets based on the standards specified in paragraph A.2. above.

  • DEPOSITORY RESPONSIBILITIES DELEGATION AGREEMENT This Amendment No. 3, dated as of December 22, 1998, amends the Foreign Country Selection and Mandatory Securities Depository Responsibilities Delegation Agreement, dated September 9, 1998, between A I M Advisors, Inc., a Delaware corporation and each registered investment company (the "Investment Companies") and its respective portfolios (the "Funds") listed on the signature page thereof (as amended and supplemented, the "Agreement").

  • DEPOSITORY RESPONSIBILITIES DELEGATION AGREEMENT This Amendment No. 4, dated as of January 26, 1999, amends the Foreign Country Selection and Mandatory Securities Depository Responsibilities Delegation Agreement, dated September 9, 1998, between A I M Advisors, Inc., a Delaware corporation and each registered investment company (the "Investment Companies") and its respective portfolios (the "Funds") listed on the signature page thereof (as amended and supplemented, the "Agreement").


More Definitions of Mandatory Securities Depository

Mandatory Securities Depository means a foreign securities depository or clearing agency meeting the requirements of an Eligible Foreign Custodian (as defined in Rule 17f-5), that, either as a legal or practical matter, must be used if the Fund, on the Portfolios' behalf, 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. Section 3.2
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Mandatory Securities Depository means a foreign securities depository or clearing agency that, either as a legal or practical matter, must be used if PVIT’s manager 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.
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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
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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 (as defined in Section (a)(1 )(ii) of Rule 1 7f-5) is not consistent with prevailing or developing custodial or market practices.
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Related to Mandatory Securities Depository

  • 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.

  • central securities depository or ‘CSD’ means a central securities depository as defined in point (1) of Article 2(1) of Regulation (EU) No 909/2014.

  • 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 Bonds Beneficial interests in the Bonds, ownership and transfers of which shall be made through book entries by the Depository as described in Section 4.06

  • Book-Entry Notes means a beneficial interest in the Notes, ownership and transfers of which shall be made through book entries by a Clearing Agency as described in Section 2.10 of the Indenture.

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