Financial Intermediaries Clause Samples
The Financial Intermediaries clause defines the role and responsibilities of third-party entities that facilitate financial transactions between parties to the agreement. Typically, this clause outlines which intermediaries may be used, the standards or regulations they must adhere to, and how fees or commissions are handled. For example, it may specify that only licensed banks or brokers can process payments or hold funds in escrow. The core function of this clause is to ensure that all financial transactions are conducted securely and transparently, reducing the risk of fraud or mismanagement.
Financial Intermediaries. In certain cases KfW’s funding for infrastructure projects is provided via financial intermediaries to final beneficiaries who are subject to the Public Procurement Regulation due to their legal status (e.g. municipalities, state owned entities). In such cases KfW requires that the procurement procedures applied comply with the basic principles of the Guidelines as outlined in Article 1.2.
1. Unless otherwise agreed in the Funding Agreement, the financial intermediary will monitor the procurement by the final beneficiaries and subsequently report on it as part of its regular reporting procedures to KfW. For procurement undertaken by the financial intermediary for its own needs (e.g. Consulting Services, Goods) the provisions of the Guidelines apply.
Financial Intermediaries. If requested by JPM, Pledgors shall instruct third-party financial intermediaries in possession of any Collateral, and shall use reasonable best efforts to cause such financial intermediaries to enter into control and other agreements, as necessary and appropriate to effectuate and perfect the liens contemplated hereby.
Financial Intermediaries. (a) Track Shareholder Accounts by financial intermediary source and otherwise as reasonably requested by the Client and provide periodic reporting to the Client;
(b) Receive from Shareholders or debit Shareholder accounts for sales commissions, including contingent deferred, deferred and other sales charges, and service fees (i.e., wire redemption charges); and
(c) Prepare and, subject to receipt of good funds, transmit payments to underwriters, selected dealers and others for commissions and service fees received.
Financial Intermediaries. The Distributor will have the right to enter into agreements ("Selling Agreements") with Financial Intermediaries of the Distributor's choice for the sale of the Shares or for other services in regard to the Shares and to fix therein the portion of the 12b-1 fees that may be allocated to the financial intermediaries on such terms and conditions as the Distributor shall deem necessary or appropriate; provided, however, that the Distributor shall periodically inform the Trustees of the nature and substance of such agreements. Shares sold through financial intermediaries shall be for sale by such intermediaries only at the public offering price(s) set forth in the applicable prospectus and statement of additional information or as otherwise permissible under the federal and state securities laws. Each such Financial Intermediary must be in good standing with each applicable designated examining authority ("DEA"). With respect to financial intermediaries who are acting as brokers or dealers within the United States, the Distributor shall offer and sell Shares only to such financial intermediaries who are members in good standing of the NASD and who agree to abide by the rules and regulations of the NASD, as amended from time to time. With respect to non-U.S. brokers, the Distributor may only enter into Selling Agreements with those brokers who agree to abide by the rules and regulations of the NASD.