Mutual Institution Rights. (a) Your funds may be placed in a Deposit Account at a Destination Institution that is in the mutual form of organization. Such a Deposit Account will be recorded on the records of the mutual institution in the name of the sub-custodian and not in your name. The sub-custodian will not attend or vote at any meeting of the depositor members of a mutual institution, or exercise any subscription rights in a mutual institution’s mutual-to-stock conversion, either on its own behalf or on your behalf.
Appears in 4 contracts
Samples: Custody Agreement (New Mountain Guardian III BDC, L.L.C.), Ics Deposit Placement Agreement, Ics Deposit Placement Agreement
Mutual Institution Rights. (a) Your funds may be placed in a Deposit Account at a Destination Institution that is in the mutual form of organization. Such a Deposit Account will be recorded on the records of the mutual institution in the name of the sub-custodian and not in your name. The sub-custodian will not attend or vote at any meeting of the depositor members of a mutual institution, or exercise any subscription rights in a mutual institution’s e mutual-to-stock conversion, either on its own behalf or on your behalf.
Appears in 1 contract
Samples: Banking Services Agreement
