Subcustodian definition

Subcustodian means a bank (including any branch thereof) or other financial institution (other than a Foreign Depository) located outside the U.S. which is utilized by Custodian in connection with the purchase, sale or custody of Securities hereunder and identified to the Fund from time to time, and their respective successors and nominees.

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Subcustodian has the meaning set forth in Section 5.1 and includes Affiliated Subcustodians.

Subcustodian means a bank or other financial institution (other than a Depository) that is selected and used by BNY Mellon or a BNY Mellon Affiliate (acting as subcustodian) in connection with the settlement of transactions and/or custody of Assets hereunder, and any successors to, and/or nominees of, any of the foregoing.

Examples of Subcustodian in a sentence

Cash accounts opened on the books of a Sub-custodian may be opened in the name of the Corporation or the Sub-custodian or in the name of its Sub-custodian for its customers generally (Agency Accounts).
Upon request, the Custodian shall promptly forward to the Corporation any documents it receives from any Agent or Sub-custodian appointed hereunder which may assist Directors of registered investment companies to fulfill their responsibilities under Rule 17f-5 of the Act.
Except as provided in the last sentence of this Section 8.6, the Custodian shall be liable to the Corporation for any loss or damage to the Corporation caused by or resulting from the acts or omissions of any Sub-custodian to the extent that such acts or omissions would be deemed to be negligence, gross negligence or willful misconduct in accordance with the terms of the relevant Sub-custodian agreement under the laws, circumstances and practices prevailing in the place where the act or omission occurred.
Such deposits shall be obligations of the Sub-custodian, and shall be treated as an Investment of the Corporation.
Investments held in a Securities Depository shall be held (a) subject to the agreement, rules, statement of terms and conditions or other document or conditions effective between the Securities Depository and the Custodian or the Sub-custodian, as the case may be, and (b) in an account for the Corporation or in bulk segregation in an account maintained for the non-proprietary assets of the entity holding such Investments in the Securities Depository.

More Definitions of Subcustodian

Subcustodian means a bank (including any branch thereof) or other financial institution (other than a Foreign Depository) located within or outside the U.S. that is eligible to serve as a custodian pursuant to the 1940 Act and the rules thereunder (with respect to foreign Subcustodians, the reference to eligibility to serve pursuant to the 1940 Act and the rules thereunder shall apply if Custodian acts as foreign custody manager for the applicable Series as contemplated in Rule 17f-5 under the 1940 Act (“Rule 17f-5”)), which is utilized by Custodian in connection with the purchase, sale or custody of Securities hereunder and identified to a Fund from time to time, and their respective successors and nominees.

Subcustodian means any qualified bank, credit institution, trust company or other entity appointed by the Custodian to perform safekeeping, processing and other elements of the Services, including Affiliates or non-Affiliates of the Custodian.

Subcustodian means any of the subcustodians appointed by Bank from time to time to hold Securities and act on its behalf in different jurisdictions (and being at the date of this Agreement the entities listed in Schedule 1) and includes any Affiliated Subcustodian.

Subcustodian means any duly appointed Domestic Subcustodian or Foreign Subcustodian.

Subcustodian shall have the meaning provided in Subsection 3.7 hereof, but shall not include any Foreign Custodian.

Subcustodian means a bank or other financial institution (other than a Depository) that is selected and used by BNY Mellon or a BNY Mellon Affiliate in connection with the settlement of transactions and/or custody of Assets hereunder, and any successors to, and/or nominees of, any of the foregoing.

Subcustodian will refer to any branch of a qualified U.S. bank, any eligible foreign custodian or any eligible foreign securities depository with which the Bank has entered an agreement of the type contemplated hereunder regarding Securities and/or cash held in or to be acquired for the Custody Account or the Deposit Account.