Miscellaneous Administrative Duties. (a) Until J.X. Xxxxxx receives Instructions to the contrary, J.X. Xxxxxx will:
(i) present all Financial Assets for which J.X. Xxxxxx has received written notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation;
(ii) execute in the name of the Customer such certificates as may be required to obtain payment in respect of Financial Assets; and
(iii) exchange interim or temporary documents of title held in the Securities Account for definitive documents of title.
(b) In the event that, as a result of holding Financial Assets in an omnibus account, the Customer receives fractional interests in Financial Assets arising out of a corporate action or class action litigation, J.X. Xxxxxx will credit the Customer with the amount of cash the Customer would have received, as reasonably determined by J.X. Xxxxxx, had the Financial Assets not been held in an omnibus account, and the Customer shall relinquish to J.X. Xxxxxx its interest in such fractional interests.
(c) If some, but not all, of an outstanding class of Financial Assets is called for redemption, J.X. Xxxxxx will allot the amount redeemed among J.X. Xxxxxx’x global custody customers who are the respective beneficial holders of such a class of Financial Assets in a manner that J.X. Xxxxxx deems to be fair and equitable.
Miscellaneous Administrative Duties. (a) Until Bank receives Instructions to the contrary, Bank will:
(i) present all Financial Assets for which Bank has received notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation;
(ii) execute in the name of Customer such certificates as may be required to obtain payment in respect of Financial Assets; and
(iii) exchange interim or temporary documents of title held in the Securities Account for definitive documents of title.
(b) In the event that, as a result of holding of Financial Assets in an omnibus account, Customer receives fractional interests in Financial Assets arising out of a Corporate Action or class action litigation, Bank will credit Customer with the amount of cash it would have received had the Financial Assets not been held in an omnibus account, and Customer shall relinquish to Bank its interest in such fractional interests.
(c) If some, but not all, of an outstanding class of Financial Assets is called for redemption, Bank may allot the amount redeemed among the respective beneficial holders of such a class of Financial Assets on a pro rata basis or in a similar manner Bank reasonably deems fair and equitable consistent with applicable law.
Miscellaneous Administrative Duties. (a) Until X.X. Xxxxxx receives Instructions to the contrary, X.X. Xxxxxx will:
(i) present all Financial Assets for which X.X. Xxxxxx has received notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation;
(ii) execute in the name of the Customer such certificates as may be required to obtain payment in respect of Financial Assets; and Global Custody Agreement - New York - General - DOCUMENT ID: [D2817270] - May 2016
(iii) exchange interim or temporary documents of title held in the Securities Account for definitive documents of title.
(b) In the event that, as a result of holding of Financial Assets in an omnibus account, the Customer receives fractional interests in Financial Assets arising out of a Corporate Action or class action litigation, X.X. Xxxxxx will credit the Customer with the amount of cash the Customer would have received, as reasonably determined by X.X. Xxxxxx, had the Financial Assets not been held in an omnibus account, and the Customer shall relinquish to X.X. Xxxxxx its interest in such fractional interests.
(c) If some, but not all, of an outstanding class of Financial Assets is called for redemption, X.X. Xxxxxx may allot the amount redeemed among the respective beneficial holders of such a class of Financial Assets on a pro rata basis or in a similar manner X.X. Xxxxxx deems fair and equitable.
(d) X.X. Xxxxxx reserves the right to reverse any transactions that are credited to the Accounts due to mis-postings and other similar actions.
Miscellaneous Administrative Duties. (a) Until Bank receives Instructions to the contrary, Bank will:
(i) present all Financial Assets for which Bank has received notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation;
(ii) execute in the name of Customer such certificates as may be required to obtain payment in respect of Financial Assets; and
(iii) exchange interim or temporary documents of title held in the Securities Account for definitive documents of title.
(b) In the event that, as a result of holding of Financial Assets in an omnibus account, Customer receives fractional interests in Financial Assets arising out of a Corporate Action or class action, Bank will credit Customer with the amount of cash it would have received had the Financial Assets not been held in an omnibus account, and Customer shall relinquish to Bank its interest in such fractional interests.
Miscellaneous Administrative Duties. (a) Until Contractor receives Instructions to the contrary, Contractor will:
(i) Present all Financial Assets for which Contractor has received notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation;
Miscellaneous Administrative Duties. (a) Until J.P. Moxxxx xxxxxxes Instructions to the contrary, J.P. Moxxxx xxxx: (i) present all Financial Assets for which J.P. Moxxxx xxx xxceived notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation;
Miscellaneous Administrative Duties. (a) Until J.X. Xxxxxx receives Instructions to the contrary, J.X. Xxxxxx will: (i) present all Financial Assets for which J.X. Xxxxxx has received written notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation;
Miscellaneous Administrative Duties. 1. Until the Custodian receives Instructions to the contrary, the Custodian will:
(a) present all Financial Assets for which the Custodian has received notice of a call for redemption or that have otherwise matured, and all income and interest coupons and other income items that call for payment upon presentation;
(b) execute in the name of OSC such certificates as may be required to obtain payment in respect of Financial Assets; and
(c) exchange interim or temporary documents of title held in the Securities Account for definitive documents of title.
2. In the event that, as a result of holding Financial Assets in an omnibus account, OSC receives fractional interests in Financial Assets arising out of a Corporate Action or class action litigation, the Custodian will credit OSC with the amount
3. If some, but not all, of an outstanding class of Financial Assets is called for redemption, the Custodian may allot the amount redeemed among the respective beneficial holders of such a class of Financial Assets on a pro rata basis or in a similar manner the Custodian deems fair and equitable.
Miscellaneous Administrative Duties. Corporate Actions
