Secured Account Custodian definition

Secured Account Custodian means Deutsche Bank AG, London Branch and any successor or replacement thereto.
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Secured Account Custodian means JPMorgan Chase Bank, N.A. and any successor or replacement thereto.
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Examples of Secured Account Custodian in a sentence

  • The Issuer has authorised and directed the Secured Account Custodian to deliver the Underlying Metal held by the Secured Account Custodian or Sub-Custodian to, or to the order of, the Metal Agent upon the occurrence of the first day of a Redemption Disposal Period, to the extent necessary to effect the realisation of the Underlying Metal.

  • This means that the Secured Account Custodian maintains an account in the name of the Issuer which shows them as being entitled to delivery of a particular amount of the Metal but without specific physical metal having been identified.

  • Neither the Secured Account Custodian or the Subscription Account Custodian may resign its duties without a successor Eligible Custodian having been appointed as aforesaid.

  • Waiting periodsThis is the time period that certain services are not eligible for coverage under this policy.

  • The obligations of the Company under the ETC Securities of a Series will be secured in favour of the Trustee by an assignment by way of security of all the Company’s rights, title, interest and benefit present and future against the secured account custodian (the ''Secured Account Custodian''), the subscription account custodian (the ''Subscription Account Custodian'') and any sub-custodian (the ''Sub-Custodian'') relating to the underlying metal in respect of this Series of ETC Securities.

  • However, to facilitate subscriptions and buy-backs, the operation of the foreign exchange hedge (in the case of FX Hedged ETC Securities) and the deduction of the product fee, the Secured Account Custodian may hold some of the Metal on an “unallocated” basis.

  • This means that the Secured Account Custodian maintains an account (a “Secured Unallocated Account”) in the name of the Issuer which shows them as being entitled to delivery of a particular amount of the Metal but without specific physical metal having been identified.

  • The Issuer will generally hold any Underlying Metal owned by it and held for a Series of ETC Securities with the Subscription Account Custodian and, once the relevant ETC Securities have been issued, with the Secured Account Custodian.

  • If a subscription is cancelled, the Subscription Account Custodian will deliver an amount of Metal equal to the Subscription Settlement Amount back to the Authorised Participant.The Metal will generally be held by the Secured Account Custodian on an “allocated” basis.

  • Equally UK VAT may be charged on any rhodium that the Authorised Participant delivers into the account of the Issuer if at the time of delivery the metal is physically located in the UK.The Secured Account Custodian and the Subscription Account Custodian is Deutsche Bank AG, a member firm of the LPPM and LBMA and the Custody Agreement for Secured Accounts provides that any Sub-Custodian must be a member of the Relevant Association (where applicable).

Related to Secured Account Custodian

  • Document Custodian means the Custodian when acting in the role of a document custodian hereunder.

  • Collection Account Control Agreement means that certain Collection Account Control Agreement, to be entered into by and among the Borrower, the Lender and Bank, with respect to the Collection Account, in form and substance acceptable to the Lender and the Borrower, as the same may be amended, modified or supplemented from time to time.

  • Sub-Custodian means and include (i) any branch of a “U.S. bank,” as that term is defined in Rule 17f-5 under the 1940 Act, and (ii) any “Eligible Foreign Custodian” having a contract with the Custodian which the Custodian has determined will provide reasonable care of assets of the Fund based on the standards specified in Section 3.3 below. Such contract shall be in writing and shall include provisions that provide: (i) for indemnification or insurance arrangements (or any combination of the foregoing) such that the Fund will be adequately protected against the risk of loss of assets held in accordance with such contract; (ii) that the Foreign Securities will not be subject to any right, charge, security interest, lien or claim of any kind in favor of the Sub-Custodian or its creditors except a claim of payment for their safe custody or administration, in the case of cash deposits, liens or rights in favor of creditors of the Sub-Custodian arising under bankruptcy, insolvency, or similar laws; (iii) that beneficial ownership for the Foreign Securities will be freely transferable without the payment of money or value other than for safe custody or administration; (iv) that adequate records will be maintained identifying the assets as belonging to the Fund or as being held by a third party for the benefit of the Fund; (v) that the Fund’s independent public accountants will be given access to those records or confirmation of the contents of those records; and (vi) that the Fund will receive periodic reports with respect to the safekeeping of the Fund’s assets, including, but not limited to, notification of any transfer to or from a Fund's account or a third party account containing assets held for the benefit of the Fund. Such contract may contain, in lieu of any or all of the provisions specified in (i)-(vi) above, such other provisions that the Custodian determines will provide, in their entirety, the same or a greater level of care and protection for Fund assets as the specified provisions.

  • Repo Custodian shall have the meaning set forth in the preamble of this Agreement.

  • Custodian Account means an account subject to a Custodian Agreement.

  • Collateral Custodian Xxxxx Fargo Bank, National Association, not in its individual capacity, but solely as Collateral Custodian, its successor in interest pursuant to Section 8.3 or such Person as shall have been appointed Collateral Custodian pursuant to Section 8.5.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • ADS Custodian means the person then acting as custodian under the Deposit Agreement. The ADS Custodian as of the Issue Date is The Bank of New York Mellon.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Custodian means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.

  • Clearing Account Agreement means that certain agreement relating to clearing account services by and among Mortgage Borrower, Lender and Clearing Account Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time, relating to the operation and maintenance of, and application of funds in, the Clearing Account.

  • Primary Custodian the meaning set forth in Rule 17f-7(b)(2).

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • DTC Custodian means the custodian of the DTC Notes on behalf of DTC, which initially shall be the Global Agent.

  • Custodial Agent means the Person who is then the Custodial Agent thereunder.

  • Foreign Custodian means a bank or other financial institution (other than a Foreign Depository) located outside the U.S. which is utilized by the Custodian, in connection with the purchase, sale or custody of Securities or cash hereunder and is identified to the Fund from time to time by the Custodian.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Collection Accounts As defined in Section 3.10(a).

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Collection Agent means at any time the Person then authorized pursuant to Section 6.01 to service, administer and collect Transferred Receivables.