Underlying Client definition

Underlying Client means the client of the Client; and

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Underlying Client means any client to whom you provide investment management services and in respect of whose Portfolio you provide us with an instruction in relation to the Execution- only Service.

Underlying Client. Account The meaning given to in Clause 2.3 (Underlying Client Accounts).

Examples of Underlying Client in a sentence

• You (or Your Underlying Client, where applicable) consent to the use of your Custody Assets in this way.

• For the avoidance of doubt, providing evidence of the identity of your Underlying Client will not make your Underlying Client a client of Westpac.

• We will not be liable to you or, where you are acting as agent, to the Underlying Client, if we accept and act upon Instructions from individuals who do not have the necessary authority.

• Interest will accrue on a daily basis and will be due and payable by you (including, if you are acting as an agent, on behalf of the relevant Underlying Client) as a separate debt.

• Where Customer has subscribed for External RX Access for a particular Underlying Client, IHS Markit will provide that Underlying Client with the RX Service in respect of such Underlying Client’s Customer Data as provided by Customer.

• You agree to provide us with such information and written confirmations or assurances in relation to the Underlying Client, as we may reasonably require complying with applicable money laundering and terrorist financing laws and regulations.

• All contractual rights and obligations arising under the Agreement and any Transactions concluded under the Agreement shall be rights and obligations arising between GS and the Underlying Client (and not you), except where explicitly stated otherwise and in relation to those rights and obligations arising specifically out of GS’ client-facing duties under Applicable Law.

• You (or Your Underlying Client, where applicable) agree to such persons having such a security interest, lien or right of set-off over your Custody Assets.

• Where Customer has subscribed for External Underlying Client Access for a particular Underlying Client, IHS Markit will provide that Underlying Client with log-ons that permission such Underlying Client to access the PX Website and see certain simplified Customer Outputs in respect of such Underlying Client’s own Customer Data (as submitted by Customer) to granularity level 6, which is equivalent to named equity indices, e.g. S&P500, subject to the Agreement.

• Where You are acting under the Agreement as agent on behalf of an Underlying Client, the Security Interest granted by You on behalf of such Underlying Client or granted by the Underlying Client itself by executing a copy of the Agreement shall act as continuing security only for the payment and discharge of all Liabilities of such Underlying Client.

More Definitions of Underlying Client

Underlying Client means any client notified as such by the Counterparty to HSBC pursuant to the terms of Appendix 1 (EMIR HSBC Form) to the Procedures Manual.

Underlying Client means any counterparty agreed to in writing by us from time to time on behalf of which you are to enter as agent into Transactions with us; and where a counterparty does not constitute a single legal person, means the trustees, individuals or other persons who are the primary representatives of the organisation, trust or fund on whose behalf they are dealing.

Underlying Client means, where You are an investment manager, investment advisor or otherwise act as agent on behalf of an underlying fund or customer the identity of which has been disclosed to GS, such underlying fund or customer.

Underlying Client means, where you are an investment manager, investment advisor or otherwise act as agent on behalf of an underlying fund or customer the identity of which has been disclosed to GS, such underlying fund or customer.