Excluded Property and Non-Trust Sample Clauses

Excluded Property and Non-Trust. Assets Excluded Property consists of Non-Trust Assets and Security Interests over Trust Assets. Non-Trust Assets comprise anything held by the Company other than Segregated Assets, Derived Assets and Recovered Assets. They include securities that have been rehypothecated by the Company (“Rehypothecated Securities”), Converted Assets, Assets distributed under the Agreement (defined in the Agreement as “Returned Assets”), Pre-Agreement Provisionally Returned Assets that are not Recovered Assets (defined in the Agreement as “Pre-Agreement Returned Assets”), Assets appropriated by the Company under the Agreement (defined in the Agreement as “Appropriated Assets”), Pre-Administration Client Money and any Assets beneficially owned by the Company. A Security Interest is any proprietary interest in a Trust Asset arising by way of lien or security. 6 Clients with terminated charge version International Prime Brokerage Agreements The Company acted as prime broker to clients under the prime brokerage agreement in respect of acquisitions and disposals of securities for the clients, lending securities and advancing cash. Most prime brokerage agreements entered into by the Company provide for all securities to be held by the Company as custodian subject to a security interest or lien in favour of the Company and subject to the Company having a right to use the securities (the “IPBA (Charge)”). The Company’s entry into Administration entitled a client to serve a default notice on the Company under the standard IPBA (Charge) and terminate the IPBA (Charge). Upon termination of the IPBA (Charge), all outstanding obligations of the Company and the client to deliver securities or pay cash under the IPBA (Charge) become due immediately, the market values of all such cash and securities are established and an account is taken of what is due from each party to the other. The sums due from one party are set off against the sums due from the other and the balance of the account is payable by the party having the claims valued at the lower amount. The Administrators have been advised that an effect of these termination and close-out provisions of the IPBA (Charge) appears to be to convert the client’s ownership rights to securities held by the Company into monetary obligations owed to the client by the Company. This effect is contested by the affected clients. However, under the terms and conditions of the Agreement, a termination of an IPBA (Charge) following the Time of Administ...
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Related to Excluded Property and Non-Trust

  • Student Data Property of LEA All Student Data transmitted to the Provider pursuant to the Service Agreement is and will continue to be the property of and under the control of the LEA. The Provider further acknowledges and agrees that all copies of such Student Data transmitted to the Provider, including any modifications or additions or any portion thereof from any source, are subject to the provisions of this DPA in the same manner as the original Student Data. The Parties agree that as between them, all rights, including all intellectual property rights in and to Student Data contemplated per the Service Agreement, shall remain the exclusive property of the LEA. For the purposes of FERPA, the Provider shall be considered a School Official, under the control and direction of the LEA as it pertains to the use of Student Data, notwithstanding the above.

  • INCOME FROM IMMOVABLE PROPERTY 1. Income derived by a resident of a Contracting State from immovable property (including income from agriculture or forestry) situated in the other Contracting State may be taxed in that other State.

  • LOCATION OF QUALIFIED PROPERTY AND INVESTMENT The Land on which the Qualified Property shall be located and on which the Qualified Investment shall be made is described in EXHIBIT 2, which is attached hereto and incorporated herein by reference for all purposes. The Parties expressly agree that the boundaries of the Land may not be materially changed from its configuration described in EXHIBIT 2 unless amended pursuant to the provisions of Section 10.2 of this Agreement.

  • Property and Equipment All property and equipment purchased by CONTRACTOR with funds received under this Agreement, or purchased on behalf of CONTRACTOR for the program site(s) covered under this Agreement, shall be insured by CONTRACTOR at replacement value against fire, theft, and destruction equal to the full replacement cost.

  • Access to Property, Property’s Management, Property Lender, and Property Tenants Potential Investor agrees to not seek to gain access to any non-public areas of the Property or communicate with Property’s management employees, the holder of any financing encumbering the Property, the Property’s tenants, and the Owner’s partners in the ownership of the Property, without the prior consent of Owner or HFF, which consent may be withheld in the Owner’s sole discretion.

  • Excluded Assets Notwithstanding the foregoing, the Purchased Assets shall not include the following assets (collectively, the “Excluded Assets”):

  • Real Property; Personal Property (a) On the Disaffiliation Date, Local Church will have full title and ownership of the Real Property and Personal Property. The parties shall ensure all necessary transfers or other transactions relating to the above properties are completed on or prior to the Disaffiliation Date. Any costs resulting from such transfers or other transactions shall be borne by Local Church. Annual Conference shall fully cooperate with Local Church, as needed and applicable, to ensure that such transfers and other transactions convey all of Annual Conference’s interest – both for itself and on behalf of The United Methodist Church – in the Real Property and Personal Property, both tangible and intangible, of Local Church.

  • PROPERTY AND RISK 7.1 Risk in each Element of the Contracted Services shall pass to the Customer upon delivery to the Site.

  • Excluded Parties Contractor certifies that it is not listed in the prohibited vendors list authorized by Executive Order 13224, “Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism,” published by the United States Department of the Treasury, Office of Foreign Assets Control.’

  • Qualified Property Applicant’s Qualified Property is described in Schedule 2.3, which is incorporated herein by reference. The Parties expressly agree that the location of the Qualified Property shall be within the Reinvestment Zone as set out in Schedule 2.1.

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