Examples of Xxxxxx Affiliate in a sentence
The parties agree that neither party can assign or otherwise transfer any of its rights or obligations under this Agreement without the prior written consent of the other party, which consent will not be unreasonably withheld, delayed or conditioned; except that X.X. Xxxxxx may assign this Agreement without the Customer’s consent (a) to any X.X. Xxxxxx Affiliate or (b) in connection with a merger, reorganization, stock sale or sale of all or substantially all of X.X. Xxxxxx’x fund servicing business.
The Custodian shall be responsible to ensure that each Subcustodian that is a Xxxxxx Affiliate performs in accordance with the foregoing standard.
Nevertheless, the foregoing restriction on transfer shall not apply to any assignment or transfer by J.X. Xxxxxx to any J.X. Xxxxxx Affiliate or in connection with a merger, reorganization, stock sale or sale of all or substantially all of J.X. Xxxxxx’x custody business.
When instructed to buy or sell Securities for which the Custodian or a Xxxxxx Affiliate acts as a dealer, the Custodian may buy or sell such Securities from or to either itself, as principal, or such Xxxxxx Affiliate.
Nevertheless, the foregoing restriction on transfer shall not apply to any assignment or transfer by X.X. Xxxxxx to any X.X. Xxxxxx Affiliate or in connection with a merger, reorganization, stock sale or sale of all or substantially all of X.X. Xxxxxx’x custody business.