Holding Client financial instruments Sample Clauses

Holding Client financial instruments. (i) Where we hold Client financial instruments as custodian in accordance with the Client Assets Rules, we may use IBIE affiliates or an unaffiliated third party to act as sub-custodian in respect of Client financial instruments. These sub- custodians may hold Client financial instruments in accounts at central securities depositaries or with other sub-custodians. (ii) You authorise us to arrange for Client financial instruments to be held with a sub-custodian or other third party in one or more jurisdictions outside of Ireland or the European Economic Area (“EEA”). In some cases, Client financial instruments which are held overseas will be subject to different settlement, legal and regulatory requirements than those that apply in Ireland or in the EEA. In some jurisdictions, local law might not allow Client financial instruments to be separately identifiable from IBIE’s financial instruments or those of the sub- custodian. You might be at greater risk of loss if the sub-custodian fails. (iii) Where we appoint a sub-custodian we will exercise due skill, care and diligence in selecting and periodically reviewing the sub-custodian. IBIE will take into account the expertise and market reputation of the third party as well as any legal requirements relating to the holding of Client financial instruments that could adversely affect clients’ rights. However, save as provided under the Client Assets Rules, we will not be liable for their acts or omissions, insolvency or dissolution. We also do not accept responsibility for the obligations of any other sub-custodians, including central securities depositaries or clearing or settlement systems and we shall not be responsible in the event of their default. (iv) We will not deposit Client financial instruments held on your behalf with a third party in a third country that does not regulate the holding and safekeeping of Client financial instruments for the account of another person unless one of the following conditions is met: (a) the nature of the Client financial instruments or of the investment services connected with those instruments requires them to be deposited with a third party in that third country; or (b) where you are a Professional Client, you request in writing that we deposit them with a third party in that third country. (v) We will not enter into arrangements for securities financing transactions in respect of Client financial instruments held on your behalf, or otherwise use such Client financial i...
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Related to Holding Client financial instruments

  • Financial Instruments Not applicable

  • EEA Financial Institution No Loan Party is an EEA Financial Institution.

  • EEA Financial Institutions No Loan Party is an EEA Financial Institution.

  • FINANCIAL INSTITUTION’S LIABILITY Liability for failure to make transfers. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Affected Financial Institution No Loan Party is an Affected Financial Institution.

  • Affected Financial Institutions No Loan Party is an Affected Financial Institution.

  • Risk Management Instruments Except as would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect, all derivative instruments, including, swaps, caps, floors and option agreements, whether entered into for the Company’s own account, or for the account of one or more of the Company Subsidiaries or its or their customers, were entered into (i) only in the ordinary course of business, (ii) in accordance with prudent practices and in all material respects with all applicable laws, rules, regulations and regulatory policies and (iii) with counterparties believed to be financially responsible at the time; and each of such instruments constitutes the valid and legally binding obligation of the Company or one of the Company Subsidiaries, enforceable in accordance with its terms, except as may be limited by the Bankruptcy Exceptions. Neither the Company or the Company Subsidiaries, nor, to the knowledge of the Company, any other party thereto, is in breach of any of its obligations under any such agreement or arrangement other than such breaches that would not, individually or in the aggregate, reasonably be expected to have a Company Material Adverse Effect.

  • U.S. Real Property Holding Corporation The Company is not and has never been a U.S. real property holding corporation within the meaning of Section 897 of the Internal Revenue Code of 1986, as amended, and the Company shall so certify upon Purchaser’s request.

  • Financial Institutions Covenants (a) Statements, Confirmations and Other Correspondence. The Financial Institution will promptly deliver copies of statements, confirmations and correspondence about the Collateral Accounts and the cash or other financial assets credited to a Collateral Account to the Grantors and the Secured Party.

  • Reliance by Financial Institution The Financial Institution is not obligated to investigate or inquire whether the Secured Party may deliver a Secured Party Order. The Financial Institution may rely on communications (including Secured Party Orders) believed by it in good faith to be genuine and given by the proper party.

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