Common use of Effect of Notice of Levy, etc Clause in Contracts

Effect of Notice of Levy, etc. Notwithstanding anything in this Agreement to the contrary, Custodian shall not be required to deliver or transfer Assets in contravention of any notice of levy, seizure or similar notice or order, or judgment, issued or directed by a governmental agency or court, or officer thereof, having jurisdiction over Custodian or its agents or affiliates, which on its face affects such Assets. Custodian shall give Buyer and Seller prompt notice of any such notice or order.

Effect of Notice of Levy, etc. Notwithstanding anything in this Agreement to the contrary, Custodian shall not be required to deliver or transfer Assets cash or securities in contravention of any notice of levy, seizure or similar notice or order, or judgment, issued or directed by a governmental agency or court, or officer thereof, having jurisdiction over Custodian or its agents agent or affiliates, which on its face affects such Assetscash or securities. Custodian shall give Buyer Pledgor and Seller Pledgee prompt notice of any such notice or order.