Common use of Custody of Investments Clause in Contracts

Custody of Investments. Acceptance of these terms confirms the appointment of PSIL as your custodian and provides authority for PSIL to hold your investment in safe custody, to transfer securities from your account to meet sales affected for your account, acceptance of offers, or other matters covered by our services and these terms and the Pershing Agreement. You acknowledge that PSIL does not accept responsibility for, or have any obligations in relation to, any monies or securities delivered by you until such monies or securities are received by PSIL or delivered into an account in the name of PSIL, its nominee or its agent. You consent that your investments will not be registered in your own name. Documents of title to your investments shall be held in physical or dematerialised form by PSIL or an Eligible Third Party. Your investments will be held in a safe custody account designated as a client asset account and will be registered either in the name of an eligible nominee company or eligible custodian selected by PSIL in accordance with the CBOI Client Assets Regulations. PSIL will exercise due skill, care and diligence in the selection, appointment and periodic review of any Eligible Third Party and the arrangements for holding and safekeeping of your investments. In exercising such due skill and care, PSIL undertakes an initial due diligence of such Eligible Third Parties which is then repeated on an annual basis. Such due diligence includes, but is not limited to, credit risk review, the review of the legal and regulatory framework in the country where such Eligible Third Party is appointed to act for PSIL and a review of the service provided to PSIL. Notwithstanding the foregoing, PSIL shall not be responsible for any acts, omissions or default of any such Eligible Third Party nominee company, custodian, sub- custodian, securities depositary, intermediate broker or settlement agent, clearing or settlement system or participant in such a system (other than an associate of PSIL) save where such a default is caused by fraud, wilful default, or negligence on the part of PSIL or its nominee company. PSIL may use the services of any custodian, securities depository, clearing or settlement system, any participant in such a system or any associate of PSIL, (each an “Third Party Custody Providers”) to provide custody services in relation to your investments. PSIL may also appoint sub-custodians (including sub-custodians overseas) being eligible custodians, to hold investments for your account on such terms as PSIL considers appropriate. PSIL may use any intermediate brokers or settlement agents (including non Irish brokers) or a Third Party Custody Provider in relation to transactions effected hereunder and pass money or investments held for your account to such brokers or settlement agents. Although PSIL will seek to ensure that adequate arrangements are made to safeguard your ownership rights, especially in the event of its own insolvency, your investments may be at risk if an Eligible Third Party becomes insolvent. Xxxxxx does not accept liability or responsibility for the acts or omissions of the custodians or for the safe custody obligations of any third party (including any Eligible Third Party).

Custody of Investments. Acceptance of these terms confirms the appointment of PSIL as your custodian and provides authority for PSIL to hold your investment in safe custody, to transfer securities from your account to meet sales affected for your account, acceptance of offers, or other matters covered by our services and these terms and the Pershing Agreement. You acknowledge that PSIL does not accept responsibility for, or have any obligations in relation to, any monies or securities delivered by you until such monies or securities are received by PSIL or delivered into an account in the name of PSIL, its nominee or its agent. You consent that your investments will not be registered in your own name. Documents of title to your investments shall be held in physical or dematerialised form by PSIL or an Eligible Third Party. Your investments will be held in a safe custody account designated as a client asset account and will be registered either in the name of an eligible nominee company or eligible custodian selected by PSIL in accordance with the CBOI Client Assets Regulations. PSIL will exercise due skill, care and diligence in the selection, appointment and periodic review of any Eligible Third Party and the arrangements for holding and safekeeping of your investments. In exercising such due skill and care, PSIL undertakes an initial due diligence of such Eligible Third Parties which is then repeated on an annual basis. Such due diligence includes, but is not limited to, credit risk review, the review of the legal and regulatory framework in the country where such Eligible Third Party is appointed to act for PSIL and a review of the service provided to PSIL. Notwithstanding the foregoing, PSIL shall not be responsible for any acts, omissions or default of any such Eligible Third Party nominee company, custodian, sub- sub-custodian, securities depositary, intermediate broker or settlement agent, clearing or settlement system or participant in such a system (other than an associate of PSIL) save where such a default is caused by fraud, wilful default, or negligence on the part of PSIL or its nominee company. PSIL may use the services of any custodian, securities depository, clearing or settlement system, any participant in such a system or any associate of PSIL, (each an “Third Party Custody Providers”) to provide custody services in relation to your investments. PSIL may also appoint sub-custodians (including sub-sub- custodians overseas) being eligible custodians, to hold investments for your account on such terms as PSIL considers appropriate. PSIL may use any intermediate brokers or settlement agents (including non Irish brokers) or a Third Party Custody Provider in relation to transactions effected hereunder and pass money or investments held for your account to such brokers or settlement agents. Although PSIL will seek to ensure that adequate arrangements are made to safeguard your ownership rights, especially in the event of its own insolvency, your investments may be at risk if an Eligible Third Party becomes insolvent. Xxxxxx does not accept liability or responsibility for the acts or omissions of the custodians or for the safe custody obligations of any third party (including any Eligible Third Party).

Custody of Investments. Acceptance of these terms confirms the appointment of PSIL as your custodian and provides authority for PSIL to hold your investment in safe custody, to transfer securities from your account to meet sales affected effected for your account, acceptance of offers, or other matters covered by our services and these terms and this agreement. Where you have elected to use the Pershing Agreement. You acknowledge that PSIL does not accept responsibility for, or have any obligations in relation to, any monies or securities delivered by you until such monies or securities are received by PSIL or delivered into an account in the name safe custody services of PSIL, its nominee or its agent. You you consent that your investments will not be registered in your own name. Documents of title to your investments shall be held in physical or dematerialised form by PSIL or an Eligible Third Party. Your investments will be held in a safe custody account designated as a client asset account and will be registered either in the name of an eligible a nominee company owned by PSIL, a member of PSIL’s group, an exchange which is a regulated market, or eligible custodian selected by PSIL an Eligible Third Party, in accordance with the CBOI Client Assets RegulationsRequirements. PSIL will exercise due skill, care and diligence in the selection, appointment and periodic review of any Eligible Third Party and the arrangements for holding and safekeeping of your investments. In exercising such due skill and care, PSIL undertakes an initial due diligence of such Eligible Third Parties which is then repeated on an annual basis. Such due diligence includes, but is not limited to, credit risk review, the review of the legal and regulatory framework in the country where such Eligible Third Party is appointed to act for PSIL and a review of the service provided to PSIL. Notwithstanding the foregoing, PSIL shall not be responsible for any acts, omissions or default of any such Eligible Third Party nominee company, custodian, sub- custodian, securities depositary, intermediate broker or settlement agent, clearing or settlement system or participant in such a system (other than an associate of PSIL) save where such a default is caused by fraud, wilful default, default or negligence on the part of PSIL or its nominee company. PSIL may use the services of any custodian, securities depository, clearing or settlement system, any participant in such a system or any associate of PSIL, (each an “Third Party Custody Providers”) to provide custody services in relation to your investments. PSIL may also appoint sub-custodians (including sub-custodians overseas) being eligible custodians, to hold investments for your account on such terms as PSIL considers appropriate. PSIL may use any intermediate brokers or settlement agents (including non Irish brokers) or a Third Party Custody Provider in relation to transactions effected hereunder and pass money or investments held for your account to such brokers or settlement agents. Although PSIL will seek to ensure that adequate arrangements are made to safeguard your ownership rights, especially in the event of its own insolvency, your investments may be at risk if an Eligible Third Party becomes insolvent. Xxxxxx does not accept liability or responsibility for the acts or omissions of the custodians or for the safe custody obligations of any third party (including any Eligible Third Party). In the event that you instruct Xxxxxx in writing that investments purchased through Cantor/PSIL be held in certificated form in your name or be registered in the name of some other person (other than PSIL, Xxxxxx, their agents or nominees) whom you specify, you will bear the risk and responsibility for the holding and registration of such investments. PSIL shall, where it has agreed to do so, administer any such investments in accordance with the provisions of these terms. You consent to the fact that your investments may be registered either in the name of an eligible nominee wholly owned by PSIL, a member of PSIL’s group, an exchange which is a regulated market, or an Eligible Third Party, in accordance with the CBOI Client Assets Requirements. Additionally, you consent to the fact that overseas investments may be registered or recorded in the name of an Eligible Third Party or in the name of PSIL in one or more jurisdictions outside of Ireland where, due to legal requirements or the nature of market practice in the jurisdictions concerned, it is not in your best interest or it is not feasible to do otherwise. Please refer to paragraph 8 below in relation to the consequences of your investments being held overseas. You acknowledge that any investments held with an Eligible Third Party may be subject under the applicable laws to a right of security, lien, set-off, retention or sale or other encumbrance in favour of such Eligible Third Party. Your investments will be segregated from investments belonging to PSIL. Investments registered or recorded in the name of an Eligible Third Party may be pooled with those of one or more of PSIL’s or Xxxxxx’x other clients. The effect of pooling is described in paragraph 9 below. PSIL may use a wide range of Eligible Third Parties globally to hold your investments. You should be aware that PSIL may use another company in the group of companies to which PSIL belongs as an Eligible Third Party. All instructions regarding the administration of investments held by or to the order of PSIL on your behalf should be made in writing to Xxxxxx, for onward transmission to PSIL. PSIL will be responsible for claiming and receiving dividends, interest payments and other entitlements accruing in relation to investments held by or to the order of PSIL. Xxxxxx will be responsible for instructing PSIL to: (i) Exercise conversion and subscription rights; (ii) Deal with takeovers or other offers or capital reorganisations; (iii) Exercise voting rights. PSIL will account to you promptly for all dividends, interest payments and other rights accruing to you and will pay these to you in accordance with the instructions you provide to Cantor. The consequences of a failure on your part to provide instructions to Cantor by the stated time once notification has been given are entirely your own responsibility. All dividends/corporate actions will be applied in Euro unless otherwise specified at the time of opening your account. All dividends paid on Irish and UK equities held in PSIL’s nominee company will be net of Dividend Withholding Tax (DWT), if relevant, unless you have claimed DWT exemption by completing and returning to Cantor, a valid DWT exemption form. Clients eligible for DWT exemption would include: companies, pension schemes, charities, non- resident individuals, etc. DWT exemption forms can be obtained by contacting Cantor Client Services Department. All dividends paid on foreign equities are paid net of DWT charged at the underlying tax rate of the relevant country and net of DWT at the underlying tax rate in Ireland. PSIL reserves the right to refuse to hold any investments on your behalf but PSIL will advise of its decision to do so and the reasons for such decision unless precluded from doing so owing to any legal or regulatory constraints.

Custody of Investments. designations are correctly set up for your account for all investments. Cantor shall have no liability in respect of any loss in respect of currency holdings. Save for providing details of currency balances or profit or loss moves in the normal course when providing statements, Xxxxxx has no obligation to notify you of currency exposures or profit or loss movements. PSIL is part of the BNY Mellon group of companies and may use a group bank to hold client money on your behalf. Fractional shares can arise following Corporate Actions where the terms of the event applied to your original holding do not equal a whole number of new shares. As companies generally do not issue fractional amounts in shares, it may not always be possible for the fractional amount to be issued to you. This situation can occur where your assets are pooled and held in nominee. In these cases the nominee company will usually receive one allocation of shares or units for all of the clients in the appointed nominee who participate in an open offer, new issue, bonus, entitlement, rights issue or similar corporate action. The nominee company may also receive a small cash payment from the relevant company’s registrars in respect of any fractional entitlement. The shares or units received by the nominee will be allocated by us as follows: where the shares or units can only be transferred or registered in a whole number of shares or units, then we will allocate to your account such number of shares or units rounded down to the nearest whole number that we calculate, using the relevant company’s basis of allocation. Fractional shares will be sold and donated to charity of our choosing if the company does not offer cash in lieu. If the company does offer cash in lieu any shares or units remaining after we have made these allocations will be aggregated and sold. The resulting sale proceeds, together with any cash payment that may be received will be distributed pro-rata amongst the relevant clients. Subject to any applicable laws and regulations, Cantor reserve the right to deal with the sales proceeds and the cash payment (if any) as follows: (a) where your share of the proceeds of sale is €5 or above this will be credited to your account, and (b) amounts below €5 will be sold and donated to charity of our choosing. "Uninvested money" (i.e. money not immediately required to settle an investment transaction) will not attract credit interest. PSIL may apply debit interest to negative cash balances on your account. Acceptance of these terms confirms the appointment of PSIL as your custodian and provides authority for PSIL to hold your investment in safe custody, to transfer securities from your account to meet sales affected effected for your account, acceptance of offers, or other matters covered by our services and these terms and the Pershing Agreement. You acknowledge that PSIL does not accept responsibility for, or Where you have any obligations in relation to, any monies or securities delivered by you until such monies or securities are received by PSIL or delivered into an account in elected to use the name safe custody services of PSIL, its nominee or its agent. You you consent that your investments will not be registered in your own name. Documents of title to your investments shall be held in physical or dematerialised form by PSIL or an Eligible Third Party. Your investments will be held in a safe custody account designated as a client asset account and will be registered either in the name of an eligible a nominee company owned by PSIL, a member of PSIL’s group, an exchange which is a regulated market, or eligible custodian selected by PSIL an Eligible Third Party, in accordance with the CBOI Client Assets RegulationsRequirements. PSIL will exercise due skill, care and diligence in the selection, appointment and periodic review of any Eligible Third Party and the arrangements for holding and safekeeping of your investments. In exercising such due skill and care, PSIL undertakes an initial due diligence of such Eligible Third Parties which is then repeated on an annual basis. Such due diligence includes, but is not limited to, credit risk review, the review of the legal and regulatory framework in the country where such Eligible Third Party is appointed to act for PSIL and a review of the service provided to PSIL. Notwithstanding the foregoing, PSIL shall not be responsible for any acts, omissions or default of any such Eligible Third Party nominee company, custodian, sub- custodian, securities depositary, intermediate broker or settlement agent, clearing or settlement system or participant in such a system (other than an associate of PSIL) save where such a default is caused by fraud, wilful default, default or negligence on the part of PSIL or its nominee company. PSIL may use the services of any custodian, securities depository, clearing or settlement system, any participant in such a system or any associate of PSIL, (each an “Third Party Custody Providers”) to provide custody services in relation to your investments. PSIL may also appoint sub-custodians (including sub-custodians overseas) being eligible custodians, to hold investments for your account on such terms as PSIL considers appropriate. PSIL may use any intermediate brokers or settlement agents (including non Irish brokers) or a Third Party Custody Provider in relation to transactions effected hereunder and pass money or investments held for your account to such brokers or settlement agents. Although PSIL will seek to ensure that adequate arrangements are made to safeguard your ownership rights, especially in the event of its own insolvency, your investments may be at risk if an Eligible Third Party becomes insolvent. Xxxxxx does not accept liability or responsibility for the acts or omissions of the custodians or for the safe custody obligations of any third party (including any Eligible Third Party).