Rule l7f-5 definition
Examples of Rule l7f-5 in a sentence
The Fund, by resolution adopted by its Board of Trustees/Directors (the "Board"), hereby delegates to the Custodian, subject to Section (b) of Rule l7f-5, the responsibilities set forth in this Section 3.2 with respect to Foreign Assets of the Funds and/or Portfolios held outside the United States, and the Custodian hereby accepts such delegation as Foreign Custody Manager with respect to the Funds and/or Portfolios.
The Custodian shall limit the securities and other assets maintained in the custody of the foreign sub-custodians to: (a) "foreign securities", as defined in paragraph (c)(1) of Rule l7f-5 under the Investment Company Act of 1940, and (b) cash and cash equivalents in such amounts as the Custodian or the Fund may determine to be reasonably necessary to effect the Fund's foreign securities transactions.
The Custodian shall limit the securities and other assets maintained in the custody of its foreign branches, foreign custodians and foreign securities depositories to: (i) "foreign securities", as defined in paragraph (c) (l) of Rule l7f-5 under the Investment Company Act, and (ii) cash and cash equivalents in such amounts as the Custodian or the Fund may determine to be reasonably necessary to effect the Fund's foreign securities transactions.
Such reporting will include the appropriateness of maintaining the Fund’s Assets with a particular custodian under paragraph (c)(1) of Rule 17f-5 and the performance of the contract under paragraph (c)(2) of Rule l7f-5.
At Customer's reasonable request in connection with Customer's compliance with SEC Rule l7f-5 under the 1940 Act.
The Bank shall furnish to the Fund information made available to it by Euroclear concerning the Euroclear system for use by the Fund in evaluating such system to ensure compliance with the requirements of Rule l7f-5 of the Act.
The Foreign Custody Manager shall determine (i) that the Trust’s foreign custody arrangements with each Eligible Foreign Custodian are governed by a written contract with the Custodian which will provide reasonable care for the Trusts’ assets based on the standards specified in paragraph (c) (1) of Rule l7f-5 and (ii) that the contract governing the foreign custody arrangements with each Eligible Foreign Custodian selected by the Foreign Custody Manager will satisfy the requirements of Rule 17f-5(c)(2).
Upon receipt of Proper Instructions, together with a certified resolution of the Fund's Board of Directors, the Bank and the Fund may agree to designate additional foreign banking institutions and foreign securities depositories to act as Selected Foreign Sub-Custodians hereunder provided that any such institution shall constitute an "eligible foreign custodian" within the meaning of Rule l7f-5 under the 1940 Act.
Any such amendment shall be effective upon 45 calendar days' written notice to Customer in accordance with the Agreement or such shorter period as Bank reasonably believes is necessary, with due regard to the continuing reasonable care of the Customer's Foreign Assets in accordance with Rule l7f-5.
All such assets shall be held by the custodian or sub-custodian appointed by the Directors or by a Fund's "Foreign Custody Manager" (as defined by Rule l7f-5 under the 1940 Act).