Approved Bank. As an approved bank for the purposes of the Client Money Rules, we act as banker rather than as trustee in respect of any money we hold on your behalf in an account with ourselves, and hold such monies on a full ownership basis. As a result, we will not hold your money in accordance with the Client Money Rules. In particular, we shall not segregate your money from ours and we shall not be liable to account to you for any profits made by our use as banker of such funds. You have the option to request that such monies are held within the scope of the Client Money Rules; however we are not obliged to agree to such a request. You also acknowledge that, where we become subject to insolvency proceedings, XXXX 7A of the FCA’s Client Assets Sourcebook (the “Client Money Distribution Rules”) will not apply to the money we hold for you and so you will not be entitled to share in any distribution under the Client Money Distribution Rules. If there are circumstances in which we cease to hold money for you as banker, and will instead hold money for you as trustee under the Client Money Rules, we will provide additional information explaining such circumstances, and will provide additional terms regarding the holding of money under the Client Money Rules which you acknowledge and agree will form part of the Agreement. Additionally, you agree that money will not be treated as client money in respect of any delivery versus payment transactions where we settle through (in our capacity as a direct member or participant or where we are sponsored by such a direct member or participant) a system commercially available to firms that are members or participants, a purpose of which is to facilitate the settlement of transactions using money and/or assets held on one or more settlement accounts, if:
Approved Bank a bank, the long term unsecured debt obligations of which are rated at least “AA” by S&P and its successors, and the equivalent by Fitch, Inc. and its successors and Xxxxx’x Investors Services, Inc. and its successors (unless Lender approves in writing a financial institution other than a bank or a lower rating, in each case in Lender’s sole and absolute discretion).
Approved Bank. As a duly licensed credit institution (établissement de credit), and pursuant to French Regulatory Rules, and in particular article L. 533-10, II, 8° of the Financial Code and the order of 6 September 2017 relating to the segregation of investment firms clients' funds (Arrêté du 6 septembre 2017 relatif au cantonnement des fonds de la clientèle des entreprises d'investissement), RBC Paris Branch is not subject to French client money rules.
Approved Bank. Clause 10.1 of the Agreement is replaced by: "As a broker dealer without permission to provide deposit taking business and pursuant to Applicable Regulations, in particular section 84 WpHG, section 10 of the German Investment Services Rules of Conduct and Organisation Ordinance (Wertpapierdienstleistungs-Verhaltens- und Organisationsverordnung, "WpDVerOV") and Art. 49 of the Commission Delegated Regulation (EU) 2017/565 of 25 April 2016, RBC EG is not allowed to hold client money in its own accounts. In the unlikely event that we hold on your behalf any money belonging to you, we will separate without undue delay your money and hold it on fiduciary accounts (Treuhandkonten). It will be held with credit institutions, their passported branches or other institutions permitted by Applicable Regulations, separately from our own money or other clients' money. We will provide you with the relevant information concerning the safeguarding of your money as required by Applicable Regulations.
Approved Bank. We will deposit money received from you in a bank account held with an Approved Bank.
Approved Bank. A bank or other financial institution which has a minimum long-term unsecured debt rating of at least “AA” and a minimum short-term unsecured debt rating of at least “A-1+” by each of the Rating Agencies, or if any such bank or other financial institution is not rated by all the Rating Agencies, then a minimum long-term rating of at least “AA” and a minimum short-term unsecured debt rating of at least “A-1+”, or their respective equivalents, by two of the Rating Agencies, but in any event one of the two Rating Agencies shall be S&P, it being understood that the AA and A-1+ benchmark ratings and other benchmark ratings in this Lease are intended to be the ratings, or the equivalent of ratings, issued by S&P. Asset-Specific Proprietary Information: As defined in Article XXIV.
Approved Bank. The Company will work with the Technical Committee to retain a bank that is an “Approved Bank” (as such term is currently defined in Clause 1 of the DBM Trust) for purposes of issuing the fairness opinion pursuant to Clause 11 of the DBM Trust.
Approved Bank. Article 3, Subsection 3.17(a)(2);
