Reconciliation Condition definition
Reconciliation Condition means, as to any Custodial Asset or serviced asset, that such Custodial Asset or serviced asset (a) cannot be reconciled with the relevant Record, (b) cannot be reconciled with the relevant records of a third-party bank, recordkeeper, borrower, subcustodian, depository, clearing organization or other similar entity or (c) is otherwise not in accordance with any material requirement of the relevant Client Contract, as the case may be.