JCSD TRUSTEE SERVICES Clause Samples
The JCSD TRUSTEE SERVICES clause defines the role and responsibilities of the JCSD (Jamaica Central Securities Depository) as the trustee in a financial or securities transaction. This clause typically outlines the scope of services provided by the JCSD, such as holding assets in trust, managing the transfer of securities, and ensuring compliance with relevant regulations. For example, the JCSD may be responsible for safeguarding securities on behalf of parties to a transaction and facilitating settlement processes. The core practical function of this clause is to clearly allocate the duties and authority of the JCSD as trustee, thereby ensuring transparency and reducing the risk of disputes regarding asset management and transaction execution.
JCSD TRUSTEE SERVICES. LIMITED, a company incorporated under the laws of Jamaica and having its registered office at ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, in the city and Parish of Kingston, Jamaica, W.I. (herein “the Agent”)
A. The Borrower has requested and the Lenders have agreed to make available to the Borrower a term loan of up to an aggregate principal amount of Forty-Four Million United States Dollars (US$44,000,000.00) upon the terms and subject to the conditions hereinafter set forth.
B. The obligation of the Lenders to make any amount available to the Borrower under this Agreement shall be subject to the conditions precedent and other terms and conditions provided for herein.
C. It is intended that the security interests under the Security Documents will be held by the Agent, as agent, for the benefit of the Lenders.