Common use of Settlement of Transactions Clause in Contracts

Settlement of Transactions. (a) Subject to Section 3 and Section 4.2, J.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. Xxxxxx to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. Xxxxxx has in its possession to allow the Customer to enforce its rights against the Customer’s counterparty, but neither J.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets Securities or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will contact the counterparty to seek settlement and will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section 3 and Section 4.2, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any Global Custody Agreement - New York - January 2021 such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets Securities or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action. X.X. Xxxxxx agrees to consult with Customer and provide the Customer with such assistance as it determines is reasonable in the circumstances (at Customer’s expense) in the event that the Customer wishes to institute legal proceedings, file a proof of claim in any insolvency proceedings, or take any similar action in its own name.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of failure by the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will not be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards standards, of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets Securities or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful wilful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will contact the counterparty to seek settlement and will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will not be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets Securities or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will contact the counterparty to seek settlement and will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will not be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets Securities or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will not be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.. X.X. Xxxxxx

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will contact the counterparty to seek settlement and will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section 3 and Section 4.2, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section 3 and Section 4.2, J.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. Xxxxxx to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. Xxxxxx has in its possession to allow the Customer to enforce its rights against the Customer’s counterparty, but neither J.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.. Global Custody Agreement – New York – January 2022

Settlement of Transactions. (a) Subject to Section 3 and Section 4.2, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any Global Custody Agreement – New York – January 2021 such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Custody Agreement, J.X. Xxxxxx will act in accordance with Instructions with respect to the settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of Form Domestic Custody Agreement and Riders (Mutual Fund) March 2010 the market in which the transaction occurs. Without limiting the generality of the foregoing, the risk of loss will be borne by Customer authorizes whenever J.X. Xxxxxx to deliver delivers Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration the expected in connection with such delivery or payment, and consideration. In the Customer acknowledges and agrees that such action alone will not case of itself constitute negligence, fraud, or willful misconduct the failure of J.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. Xxxxxx will contact the counterparty to seek settlement and will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that Customer has against the CustomerCustom er’s counterparty, but neither J.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. Xxxxxx to deliver Financial Assets Securities or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action. J.X. Xxxxxx agrees to consult with Customer and provide the Customer with such assistance as it determines is reasonable in the circumstances (at Customer’s expense) in the event that the Customer wishes to institute legal proceedings, file a proof of claim in any insolvency proceedings, or take any similar action in its own name.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. Xxxxxx to deliver Financial Assets Securities or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. Xxxxxx will contact the counterparty to seek settlement and will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. Xxxxxx nor its Subcustodians will not be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.. Form Domestic Custody Agreement (NY Law) July 2010

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Custody Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to the settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the risk of loss will be borne by Customer authorizes J.X. whenever X.X. Xxxxxx to deliver delivers Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration the expected in connection with such delivery or payment, and consideration. In the Customer acknowledges and agrees that such action alone will not case of itself constitute negligence, fraud, or willful misconduct the failure of J.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will contact the counterparty to seek settlement and will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section 3 and Section 4.2, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets or cash payment in accordance with applicable market practice in advance of Global Custody Agreement - New York - January 2022 receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. Xxxxxx will act in accordance with Instructions with respect to the settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the risk of loss will be borne by the applicable Customer authorizes whenever J.X. Xxxxxx to deliver delivers Financial Assets or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration the expected in connection with such delivery or payment, and consideration. In the Customer acknowledges and agrees that such action alone will not case of itself constitute negligence, fraud, or willful misconduct the failure of J.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. Xxxxxx will contact such counterparty to seek settlement and will notify the applicable Customer of such failure. If the such Customer’s counterparty continues to fail to deliver the expected consideration, J.X. Xxxxxx will provide information reasonably requested by the such Customer that J.X. Xxxxxx has in its possession to allow the such Customer to enforce its rights that such Customer has against the Customer’s counterparty, but neither J.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. X.X. Xxxxxx will act in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. X.X. Xxxxxx to deliver Financial Assets Securities or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. X.X. Xxxxxx, and the risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. X.X. Xxxxxx will notify the Customer of in the event such failurefailure relates to market and rebalance trades, and contact the Counterparty to seek settlement in the event such failure relates to ETF creation or redemption activity. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. X.X. Xxxxxx will provide information reasonably requested by the Customer that J.X. X.X. Xxxxxx has in its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. X.X. Xxxxxx nor its Subcustodians will be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.

Settlement of Transactions. (a) Subject to Section Article 3 and Section 4.24.2 of this Agreement, J.X. Xxxxxx will act J.P. Moxxxx xxxx xct in accordance with Instructions with respect to settlement of transactions. Settlement of transactions will be conducted in accordance with prevailing standards of the market in which the transaction occurs. Without limiting the generality of the foregoing, the Customer authorizes J.X. Xxxxxx to deliver Financial Assets J.P. Moxxxx xx xxxiver Securities or cash payment in accordance with applicable market practice in advance of receipt or settlement of consideration expected in connection with such delivery or payment, and the Customer acknowledges and agrees that such action alone will not of itself constitute negligence, fraud, or willful misconduct of J.X. XxxxxxJ.P. Moxxxx, and the xxx xhe risk of loss arising from any such action will be borne by the Customer. If In the case of the failure of the Customer’s counterparty (or other appropriate party) fails to deliver the expected consideration as agreed, J.X. Xxxxxx J.P. Moxxxx xxxx xontact the counterparty to seek settlement and will notify the Customer of such failure. If the Customer’s counterparty continues to fail to deliver the expected consideration, J.X. Xxxxxx will provide J.P. Moxxxx xxxx xrovide information reasonably requested by the Customer that J.X. Xxxxxx has in J.P. Moxxxx xxx xx its possession to allow the Customer to enforce its rights that the Customer has against the Customer’s counterparty, but neither J.X. Xxxxxx nor its Subcustodians will J.P. Moxxxx xxxx xot be obliged to institute legal proceedings, file a proof of claim in any insolvency proceeding or take any similar action.