Failure to Process Instructions Sample Clauses
Failure to Process Instructions. If (i) Customer provides BNPP PB with instructions in respect of corporate actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days notice prior to the relevant exercise deadline, and (iii) BNPP PB fails to process Customer’s instructions in a commercially reasonable manner, BNPP PB shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to BNPP PB’s failure.
Failure to Process Instructions. If (i) Customer provides BNPP NY with instructions in respect of corporate actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days notice prior to the relevant exercise deadline, and (iii) BNPP NY fails to process Customer’s instructions in a commercially reasonable manner, BNPP NY shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to BNPP NY’s failure.
Failure to Process Instructions. If (i) Customer provides Counterparty with instructions in respect of corporate or other actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days notice prior to the relevant exercise deadline, and (iii) Counterparty fails to process Customer’s instructions in a commercially reasonable manner, Counterparty shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to Counterparty’s failure.
Failure to Process Instructions. If (i) Customer provides PBL with instructions in respect of corporate actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days notice prior to the relevant exercise deadline, and (iii) PBL fails to process Customer’s instructions in a commercially reasonable manner, PBL shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to PBL’s failure.