Country Risk. (a) The Customer acknowledges that (i) investing in Financial Assets and cash in foreign jurisdictions may involve risks of loss or other burdens and costs, and (ii) it remains responsible for assessing and managing investment-related exposures arising out of Country Risk. Accordingly, the Customer agrees that J.X. Xxxxxx will not be responsible for any Liabilities resulting from Country Risk. (b) In cases where a Country Risk Event occurs in a particular market, any amounts credited by J.X Xxxxxx to the Cash Account as a result of any transaction or Instruction (including but not limited to securities settlements, asset servicing (which may include payments), or foreign exchange transactions) in such market may be conditional and may be subject to reversal by J.X. Xxxxxx. (c) Without limiting the generality of Section 7.2, if a Country Risk Event leads to restrictions on, or losses of, cash or cash equivalents held by J.X. Xxxxxx or any Affiliated Subcustodian Bank in any market for the purposes of facilitating J.X. Xxxxxx’x global custody business, J.X. Xxxxxx may in its sole discretion apply the impact of those restrictions or losses to the relevant currency held in the Customer’s Cash Accounts in a proportional manner as J.X. Xxxxxx may reasonably determine.
Appears in 4 contracts
Samples: Global Custody Agreement (Brookfield Infrastructure Income Fund Inc.), Global Custody Agreement (Popular U.S. Government Money Market Fund, LLC), Global Custody Agreement (Impax Funds Series Trust I)
Country Risk. (a) The Customer acknowledges that (i) investing in Financial Assets and cash in foreign jurisdictions may involve risks of loss or other burdens and costs, and (ii) it remains responsible for assessing and managing investment-related exposures arising out of Country Risk. Accordingly, the Customer agrees that J.X. X.X. Xxxxxx will not be responsible for any Liabilities resulting from Country Risk.
(b) In cases where a Country Risk Event occurs in a particular market, any amounts credited by J.X X.X Xxxxxx to the Cash Account as a result of any transaction or Instruction (including but not limited to securities settlements, asset servicing (which may include payments), or foreign exchange transactions) in such market may be conditional and may be subject to reversal by J.X. X.X. Xxxxxx.
(c) Without limiting the generality of Section 7.2, if a Country Risk Event leads to restrictions on, or losses of, cash or cash equivalents held by J.X. X.X. Xxxxxx or any Affiliated Subcustodian Bank in any market for the purposes of facilitating J.X. X.X. Xxxxxx’x global custody business, J.X. X.X. Xxxxxx may in its sole discretion apply the impact of those restrictions or losses to the relevant currency held in the Customer’s Cash Accounts in a proportional manner as J.X. X.X. Xxxxxx may reasonably determine.. Global Custody Agreement - New York - January 2021
Appears in 2 contracts
Samples: Global Custody Agreement (Popular High Grade Fixed-Income Fund, Inc.), Global Custody Agreement (Popular Total Return Fund Inc)
Country Risk. (a) The Customer acknowledges that (i) investing in Financial Assets and cash in foreign jurisdictions may involve risks of loss or other burdens and costs, and (ii) it remains responsible for assessing and managing investment-related exposures arising out of Country Risk. Accordingly, the Customer agrees that J.X. X.X. Xxxxxx will not be responsible for any Liabilities resulting from Country Risk.
(b) In cases where a Country Risk Event occurs in a particular market, any amounts credited by J.X X.X Xxxxxx to the Cash Account as a result of any transaction or Instruction (including but not limited to securities settlements, asset servicing (which may include payments), or foreign exchange transactions) in such market may be conditional and may be subject to reversal by J.X. X.X. Xxxxxx.
(c) Without limiting the generality of Section 7.2, if a Country Risk Event leads to restrictions on, or losses of, cash or cash equivalents held by J.X. X.X. Xxxxxx or any Affiliated Subcustodian Bank in any market for the purposes of facilitating J.X. X.X. Xxxxxx’x global custody business, J.X. X.X. Xxxxxx may in its sole discretion apply the impact of those restrictions or losses to the relevant currency held in the Customer’s Cash Accounts in a proportional manner as J.X. X.X. Xxxxxx may reasonably determine.. Global Custody Agreement – New York – January 2021
Appears in 1 contract
Samples: Global Custody Agreement (Popular Income Plus Fund, Inc.)
Country Risk. (a) The Customer acknowledges that (i) investing in Financial Assets and cash in foreign jurisdictions may involve risks of loss or other burdens and costs, and (ii) it remains responsible for assessing and managing investment-related exposures arising out of Country Risk. Accordingly, the Customer agrees that J.X. X.X. Xxxxxx will not be responsible for any Liabilities resulting from Country Risk.
(b) In cases where a Country Risk Event occurs in a particular market, any amounts credited by J.X X.X Xxxxxx to the Cash Account as a result of any transaction or Instruction (including but not limited to securities settlements, asset servicing (which may include payments), or foreign exchange transactions) in such market may be conditional and may be subject to reversal by J.X. X.X. Xxxxxx.
(c) Without limiting the generality of Section 7.2, if a Country Risk Event leads to restrictions on, or losses of, cash or cash equivalents held by J.X. X.X. Xxxxxx or any Affiliated Subcustodian Bank in any market for the purposes of facilitating J.X. X.X. Xxxxxx’x global custody business, J.X. X.X. Xxxxxx may in its sole discretion apply the impact of those restrictions or losses to the relevant currency held in the Customer’s Cash Accounts in a proportional manner as J.X. X.X. Xxxxxx may reasonably determine.
Appears in 1 contract
Samples: Global Custody Agreement (Palmer Square Funds Trust)