Depositories. The Custodian shall have no liability whatsoever for the action or inaction of any Depository or Foreign Depository or for any Losses resulting from the maintenance of Securities or cash with a Depository or a Foreign Depository, except in each case to the extent such action or inaction is a direct result of the Custodian’s failure to fulfill its obligations hereunder.
Depositories. The Custodian shall have no liability whatsoever for the action or inaction of a Depository or a Foreign Depository or for any Losses resulting from the maintenance of assets with a Depository or a Foreign Depository. Notwithstanding the foregoing sentence, the Custodian shall be liable for repayment to the Fund of cash credited to the Fund’s, the Custodian’s or a Subcustodian’s account at a Depository or a Foreign Depository that the Custodian is not able to recover from the Depository or Foreign Depository (other than as a result of a Country Risk Event).
Depositories. The Depositor may at any time and from time to time in its discretion transfer the Certificate Account, the Collection Account or any Escrow Account to a bank, savings and loan association or trust company organized under the laws of the United States or any State thereof (an "eligible depository"). Upon such transfer, such transferee bank, savings and loan association or trust company shall be deemed to be a Depository with respect to the account or accounts so transferred. In the event that the long-term debt obligations of any Depository of the Certificate Account, Collection Account or Escrow Account shall be rated at less than A by Fitch if Fitch is a Rating Agency, or the short-term debt obligations of such Depository shall be rated by S&P at less than A-1+ if S&P is a Rating Agency, by Fitch at less than F-1 if Fitch is a Rating Agency and by Moody's at less than P-1 if Moody's is a Rating Agency (the "Ratings Requirements") and such accoxxx xxxs not otherwise meet the requirements of this Section 11.01, then within five Business Days of such reduction, the Depositor shall (A) transfer or direct the Paying Agent in writing to transfer the Certificate Account, Collection Account or Escrow Account to an eligible depository satisfying the Ratings Requirements, (B) establish another account in the corporate trust department of the Paying Agent or if such Paying Agent has a long-term and short-term debt rating at least equal to the Rating Requirements, in any department of the Paying Agent (the "Alternative Certificate Account", the "Alternative Collection Account" or the "Alternative Escrow Account", as the case may be) and direct the Servicer to remit in accordance with this Agreement any funds deposited into the Escrow Account to the Alternative Escrow Account, and direct the Servicer to remit in accordance with this Agreement any funds deposited into the Certificate Account or the Collection Account to the Alternative Certificate Account or Alternative Collection Account, respectively, (C) (i) cause such Depository to pledge securities in the manner provided by applicable law or (ii) pledge or cause to be pledged securities, which shall be held by the Paying Agent or its agent free and clear of the lien of any third party, in a manner conferring on the Paying Agent a perfected first lien and otherwise reasonably satisfactory to the Paying Agent; such pledge in either case to secure such Depository's performance of its obligations in respect of the Ce...
Depositories. Each member shall designate its central bank as a depository in which the Bank may keep its holdings of such member's currency and other assets of the Bank. If a member has no central bank, it shall, in agreement with the Bank, designate another institution for such purpose.
Depositories. The Managers shall maintain or cause to be maintained one or more accounts for the Company in such depositories as the Managers shall select. All receipts of the Company from whatever source received (but no funds not belonging to the Company) shall be deposited to such accounts, and all expenses of the Company shall be paid from such accounts.
Depositories. Lender and Agent acknowledge that in relation to any Services which involve a Depository, Bank shall provide the relevant Services subject to the rules and requirements of all such Depositories. In particular, Lender and Agent acknowledge that a Depository may, under its terms of participation or otherwise, be entitled to vary its terms, suspend its systems, or vary its system timetable, and that Bank is entitled, by written notice to Lender, to vary this Agreement in such manner as Bank may reasonably determine to be necessary to reflect any alteration or variation or suspension of the relevant Depository, or any law, regulation, regulatory requirement, order or direction which may affect the Depository (any such variation being a “System Variation”). Bank shall use reasonable efforts to consult with Lender and Agent prior to implementation of any System Variation. Bank shall not be liable under or in connection with compliance with any rules or requirements of a Depository unless such System Variation was designed or implemented by Bank with bad faith, fraud, negligence, failure to exercise reasonable care or willful misconduct.
Depositories. The Member shall maintain or cause to be maintained one or more accounts for the Company in such depositories as the Member shall select. All receipts of the Company from whatever source received (but no funds not belonging to the Company) shall be deposited to such accounts, and all expenses of the Company shall be paid from such accounts. Unless otherwise determined by the Member, all signatories on any such account shall be bonded under a blanket commercial bond insuring the Company against loss, and such accounts shall be insured against loss from forgery.
Depositories. The Custodian shall have no liability whatsoever for the action or inaction of a Depository or a Foreign Depository or for any Losses resulting from the maintenance of assets with a Depository or a Foreign Depository, except to the extent such liability arises from the negligence, bad faith, fraud, recklessness or willful misconduct of the Custodian. Notwithstanding the foregoing sentence, the Custodian shall be liable for repayment to the Fund of cash credited to the Fund’s, the Custodian’s or a Subcustodian’s account at a Depository or a Foreign Depository that the Custodian is not able to recover from the Depository or Foreign Depository (other than as a result of a Country Risk Event).
Depositories. (a) Each member shall designate its central bank as a depository for all the Bank's holdings of its currency or, if it has no central bank, it shall designate such other institution as may be acceptable to the Bank.
(b) The Bank may hold other assets, including gold, in depositories designated by the five members having the largest number of shares and in such other designated depositories as the Bank may select. Initially, at least one-half of the gold holdings of the Bank shall be held in the depository designated by the member in whose territory the Bank has its principal office, and at least forty percent shall be held in the depositories designated by the remaining four members referred to above, each of such depositories to hold, initially, not less than the amount of gold paid on the shares of the member designating it. However, all transfers of gold by the Bank shall be made with due regard to the costs of transport and anticipated requirements of the Bank. In an emergency the Executive Directors may transfer all or any part of the Bank's gold holdings to any place where they can be adequately protected.
Depositories. The Custodian is also empowered to hold securities forming part of the Property through an account held with a Depository on the terms of business of the operators of such Depositories, and may effect settlement in accordance with the customary or established trading and processing practices and procedures in the jurisdiction or market in which any transaction in respect of the Property occurs. The Custodian shall be fully protected and absolved from any liability howsoever arising from effecting transactions in the foregoing manner except to the extent that such liability arises out of the Custodian’s breach of its standard of care in carrying out Directions in connection with any Depository.
