Custody and Settlement Sample Clauses

Custody and Settlement. A.1.1. Custody: The Client appoints MSI plc as custodian and MSI plc accepts such appointment pursuant to the terms of this Agreement. Where MSI plc holds the Client's Investments in custody in the Prime Brokerage Account it shall hold such investments as trustee. MSI plc's duties as trustee shall be subject to the terms of this Agreement. MSI plc is not acting as trustee in relation to any other service or activity relating to this Agreement.
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Custody and Settlement. The Bank undertakes to store the Client’s securities account positions in a secure location or have these stored by a third party with the same care it would use for its own assets. It will carefully select the third parties that it commissions and regularly review the quality and services of said third parties. The Bank keeps records and accounts that enable it to distinguish the securities account posi- tions stored for individual Clients from one another, as well as from its own securities account positions. Securities account positions are generally stored with third parties in the name of the Bank. However, the Bank may also register the securities account positions in the name of a third party (a nominee) or in the name of the Client. However, these items are always stored on behalf of and at the risk of the Client. The Bank is authorised to hold the deposited items in safe custody by category or have such objects held by a central custodian and/or third-party custodian (secondary custodian bank) of its choice (collective deposit). In this case, the Bank is merely under obligation to return securi- ties account positions of the same kind. There is, however, no entitlement to specific numbers or denominations. Securities account positions belonging to the Client that are held by a third-party custodian are generally kept with the deposited items of the Bank’s other Clients, but separately from the assets of the Bank or the third-party custodian. However, this separation often does not apply to the custodian chain as a whole or to the central custodi- an. The Bank only offers the Client such separation in the cases provided for by law. The Client is contractually entitled to the transfer of the share of the assets of all of the Bank’s combined Clients that are attributable to him. In the event of bankruptcy of the Bank, the securities account positions may generally be segregated. The Client will therefore gain ownership of or an ownership-like entitlement to the deposited items. Any of the Client’s assets deposited in the securities account are therefore protected against third-party access within the scope of the applicable legal system. This will not affect the Bank’s rights of lien and rights of offset, the Client’s obligations arising from securities funding transac- tions or any shortage of the securities account positions held by a third party. The latter may lead to a reduction in all Clients’ holdings. Central and third-party custodians may be...
Sample 1

Related to Custody and Settlement

  • The Settlement The Settlement was reached on May 11, 2018. Class Counsel filed this action on May 10, 2018. Over two years prior to the filing of this action, Class Counsel and Defendant’s Counsel conducted an adversarial informal discovery process. Class Counsel reviewed and analyzed thousands of pages of documents provided by Defendant and also reviewed many other documents, including U.S. Department of Labor Forms 5500 and other publicly available documents. The Parties participated in mediation before a nationally recognized mediator who has extensive experience in resolving similar claims involving other 401(k) plans. Only after six months of extensive arm’s length negotiation following the mediation were the parties able to agree to the terms of the Settlement. As part of the Settlement, a Qualified Settlement Fund of $17,000,000 will be established to resolve the Class Action. The Net Settlement Amount is $17,000,000 minus any Administrative Expenses, taxes, tax expenses, Court-approved Attorneys’ Fees and Costs, Class Representatives’ Compensation, and other approved expenses of the litigation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court. In addition to the monetary component of the Settlement, the Parties to the Settlement have agreed to certain additional terms: (1) During the first eighteen months (18) following the final approval of the Settlement, Defendant has agreed that the Plan’s fiduciaries will conduct a Request for Proposal (“RFP”) process for recordkeeping services to the Plan; (2) Within the first year following final approval of the Settlement, Defendant has agreed to publish a communication to then current Plan participants explaining the risks and benefits of the Plan’s money market fund investment option; (3) Defendant also will use an independent consultant familiar with fixed income investment options in defined contribution plans who will review the investment lineup and make recommendations to the Plan’s fiduciaries regarding whether to retain the money market fund and whether to add a stable value or comparable fund; (4) In addition, during the three- year Settlement period, Defendant has agreed to provide Class Counsel a list of the Plan’s investment options and fees; and (5) In considering investment options for the Plan, Defendant has agreed that the Plan’s fiduciaries will consider: (a) the lowest-cost share class available for any particular mutual fund considered for inclusion in the Plan as well as other criteria applicable to different share classes; (b) the availability of revenue sharing rebates on any share class available for any particular mutual fund considered for inclusion in the Plan; and (c) the availability of collective trusts, to the extent such investments are permissible and are otherwise identical to a particular mutual fund considered for inclusion in the Plan.

  • CLOSING AND SETTLEMENT Seller/Landlord shall determine the title company at which settlement shall occur and shall inform Buyer/Tenant of this location in writing. Buyer/Tenant agrees that closing costs in their entirety, including any points, fees, and other charges required by the third-party lender, shall be the sole responsibility of Buyer/Tenant. The only expense related to closing costs apportioned to Seller/Landlord shall be the pro-rated share of the ad valorem taxes due at the time of closing, for which Seller/Landlord is solely responsible.

  • On Reconciliation and Settlement If the year-end reconciliation and settlement process demonstrates that the HSP received Funding in excess of its confirmed funds, the LHIN will require the repayment of the excess Funding.

  • Resettlement Xxxxx out resettlement and rehabilitation of Displaced Persons in connection with the implementation of Part 1 of the Project. SCHEDULE 2

  • Final Report by Settlement Administrator Within 10 days after the Administrator disburses all funds in the Gross Settlement Amount, the Administrator will provide Class Counsel and Defense Counsel with a final report detailing its disbursements by employee identification number only of all payments made under this Agreement. At least 15 days before any deadline set by the Court, the Administrator will prepare, and submit to Class Counsel and Defense Counsel, a signed declaration suitable for filing in Court attesting to its disbursement of all payments required under this Agreement. Class Counsel is responsible for filing the Administrator's declaration in Court.

  • FAILURE TO HONOUR SETTLEMENT AGREEMENT 32. If this Settlement Agreement is accepted by the Hearing Panel and, at any subsequent time, the Respondent fails to honour any of the Terms of Settlement set out herein, Staff reserves the right to bring proceedings under section 24.3 of the By-laws of the MFDA against the Respondent based on, but not limited to, the facts set out in Part IV of the Settlement Agreement, as well as the breach of the Settlement Agreement. If such additional enforcement action is taken, the Respondent agrees that the proceeding(s) may be heard and determined by a hearing panel comprised of all or some of the same members of the hearing panel that accepted the Settlement Agreement, if available.

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