Fraudulent Securities Sample Clauses
The 'Fraudulent Securities' clause defines the parties' rights and obligations in the event that securities involved in a transaction are found to be fraudulent or counterfeit. Typically, this clause outlines the procedures for identifying such securities, the responsibilities of the parties to notify each other, and the remedies available, such as rescinding the transaction or seeking damages. Its core function is to protect parties from losses or liabilities arising from the inadvertent transfer or acquisition of fraudulent securities, thereby allocating risk and ensuring trust in the transaction.
Fraudulent Securities. The Custodian shall have no liability for losses incurred by the Client or any other person as a result of the receipt or acceptance of fraudulent, forged or invalid Securities (or Securities which are otherwise not freely transferable or deliverable without encumbrance in any relevant market).
Fraudulent Securities. The Bank will have no liability for Losses suffered or incurred by the Fund or any other person as a result of the receipt or acceptance of fraudulent, forged or invalid Securities (or Securities that are otherwise not freely transferable or deliverable without encumbrance in any relevant market.
Fraudulent Securities. Neither the Custodian nor any Subcustodian shall have any liability for losses incurred by the Client or any other person as a result of the receipt or acceptance of fraudulent, forged or invalid Securities that Custodian or Subcustodian believes in good faith to be proper and valid Securities (or Securities which are otherwise not freely transferable or deliverable without encumbrance in any relevant market).