No Custody. The Transfer Agent will not custody any cash, securities, stablecoins, or cryptocurrency under this Agreement.
No Custody. Securrency will not custody any cash, securities, stablecoins, or cryptocurrency under this Agreement.
No Custody. Notwithstanding any of the foregoing in this Agreement, the Collateral Manager does not and shall not be deemed to have any powers or control which may, or may be deemed to, be considered “custody” under Section 206(4)-2 of Advisers Act, including, but not limited to, the right to direct payment or obtain possession of and/or withdraw assets other than in connection with its investment related duties, such as acquisitions, sales or other dispositions of Assets permitted to be acquired or sold on a delivery versus payment basis. For the avoidance of doubt, (i) the Collateral Manager has no authority to deduct its fees from the Issuer’s accounts and (ii) any asset movements, other than as set forth in the prior sentence, require the prior written consent of the Issuer, subject to Section 2 of this Agreement. Nothing in this paragraph shall prohibit the Collateral Manager from issuing instructions to the Collateral Trustee or an intermediary to effect or to settle any bills of sale, assignments, investment instructions, agreements and other instruments in connection with any acquisition, investment, sale or other disposition of any Collateral Obligation, Equity Security, Eligible Investment, or other assets of the Issuer as permitted by the Indenture and the terms hereof.
