Common use of Opening Special Custody Accounts Clause in Contracts

Opening Special Custody Accounts. Custodian shall open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Securities Corp. as Pledgee of Mellon Institutional Invexxxxxx Trust, on behalf of its series, Mellon Institutional Market Neutral Fund" (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets received by Custodian from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and within the sole dominion and Control of Broker. Customer shall deposit Eligible Assets into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets which Custodian is to deposit and maintain in each Special Custody Account and is to identify on Custodian's books and records as subject to Broker's Security Interest. All Collateral shall be held by Custodian as agent of Broker and shall be released by Custodian only in accordance with the terms of this Agreement or as required by applicable law.

Appears in 1 contract

Samples: Special Custody Account Agreement (Mellon Institutional Funds Investment Trust)

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Opening Special Custody Accounts. Custodian shall open one or (shall, at the request of Customer and Broker) , open one or more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Securities Corp. as Pledgee xx Xxxdgee of Mellon Institutional Invexxxxxx Trust, on behalf of its series, Mellon Institutional Market Neutral "Hillview/REMS Leveraged REIT Fund" (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets cash and other assets, properties, items and rights received by Custodian from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and within shall be subject to the sole dominion and Control of Broker. Customer shall deposit Eligible Assets into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its reasonable judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its reasonable judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets cash and other assets, properties, items and rights which Custodian is to deposit and maintain in each Special Custody Account and is to identify on Custodian's books and records as subject to Broker's Security Interest. All Collateral shall be held by Custodian as agent of and Custodian for Broker and shall may be released by Custodian only in accordance with the terms of this Agreement or as required by applicable law.

Appears in 1 contract

Samples: Special Custody Account Agreement (Hillview Investment Trust Ii)

Opening Special Custody Accounts. Custodian shall shall, at the request of Customer and Broker, open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Xxxxxxx Securities Corp. as Pledgee of Mellon Institutional Invexxxxxx TrustThe Xxxxxxx Funds, on behalf of its series, Mellon Institutional Market Neutral Inc. for Xxxxxxx Growth Fund" (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets received by Custodian from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and within the sole dominion and Control of Broker. Customer shall deposit Eligible Assets into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets which Custodian is to deposit and maintain in each Special Custody Account and is to identify on Custodian's ’s books and records as subject to Broker's ’s Security Interest. All Collateral shall be held by Custodian as agent of and Custodian for Broker and shall may be released by Custodian only in accordance with the terms of this Agreement or as required by applicable law.

Appears in 1 contract

Samples: Special Custody Account Agreement (Needham Funds Inc)

Opening Special Custody Accounts. Custodian shall open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Securities Xxxxxxx Xxxxx Professional Clearing Corp. as Pledgee of Mellon Institutional Invexxxxxx Trust, on behalf [name of its series, Mellon Institutional Market Neutral Fund" customer]” (each a "Special Custody Account") and shall hold in each Special Custody Account all the Collateral. Eligible Assets received by Custodian shall be deposited into the Special Custody Account upon Advice or Instructions, given from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised time by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and containing, among other things, Securities Entitlements within the sole dominion and Control control of Broker. No Collateral may be withdrawn from or transferred from the Special Custody Account other than pursuant to an Advice from Broker, and only in accordance with such Advice. Customer shall at all times have on deposit Eligible Assets into in each Special Custody Account. Customer shall insure that the Account with a value (as from time to time determined by Broker in its judgment exercised in good faith sole discretion and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to not less than the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer)Obligations. Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly immediately deposit therein in the Special Custody Account additional Eligible Assets with a value (so determineddetermined by Broker in its sole discretion) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the shall promptly advise Broker of each deposit, whether of Eligible Assets which Custodian is or otherwise, in to deposit a Special Custody Account. All Collateral and maintain in each the Special Custody Account and is to identify on Custodian's books and records as subject to Broker's Security Interest. All Collateral shall be held by Custodian as agent of Broker and shall be released by Custodian only in accordance with the terms of this Agreement or as required by applicable lawcustodian for Broker.

Appears in 1 contract

Samples: Special Custody Account Agreement (Cushing Royalty & Income Fund)

Opening Special Custody Accounts. Custodian Custodian, in its capacity as a Securities Intermediary (as defined in Section 8-102(a)14 of Revised Article 8), shall open one or more (at the request of Customer and Broker) more separate special custody accountsaccounts on its books, each such account to be entitled "Special Custody Account for BearNational Financial Services LLC, Stearns Securities Corp. as Pledgee for the benefit of Mellon Institutional Invexxxxxx Trust, on behalf of its series, Mellon Institutional Market Neutral Hillview REMS Leveraged REIT Fund; Collateral for Margin and Short Sales Activity" (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets received by Custodian from time to timeAccount, pursuant to upon the terms of this Agreement, andall of the Collateral (subject to the Security Interest of Broker) and all monies or other property paid on or distributed with respect thereto (subject, however, to the extent not inconsistent herewith, rights of the Custodian Contract, for deposit (as Advised by Broker Customer in or Instructed by Customerto any such monies or property set forth in Section 4(b) into such Special Custody Accounthereof) or realized on the sale of any portion thereof. Each Special Custody Account shall be a Securities Account (as defined in Section 8-501(a) of Revised Article 8) in the name of the Customer and within the sole dominion dominion, control and Control of Broker, subject to the terms of this Agreement. Customer shall deposit Eligible Assets Collateral, as required by Broker to meet Adequate Margin requirements, into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets which Custodian is to deposit the cash (U.S. dollars) and maintain in specific domestic securities which Customer shall be pledging to Broker into each Special Custody Account Account, and is Custodian agrees (subject to the terms hereof) to maintain such cash and securities in the Special Custody Accounts identified by Customer for such purposes. Custodian shall (1) identify such deposited cash and securities on Custodian's its books and records as being subject to the Security Interest (as defined in Section 2(b) below) of the Broker's Security Interest. All Collateral shall , (2) hold such cash and securities as Securities Intermediary hereunder, (3) treat such securities, for purposes of Revised Article 8, as Financial Assets (as defined in Section 8-102(a)(9) thereof ), to the extent that Revised Article 8 may be held by Custodian as agent of Broker applicable thereto, and shall be released by Custodian (4) release such cash and securities only in accordance with the terms of this Agreement or as required by applicable law. The Custodian shall take such actions with respect to any Collateral and other assets in the Special Custody Account(s) (including without limitation the delivery thereof to Broker without the payment of money or value, if so requested by Broker), as Broker shall, in accordance with the terms hereof, so direct in an Advice from Broker, and in no event shall any consent of Customer be required for the taking of any such action by Custodian. For purposes of this Agreement, Broker shall determine the value of the Collateral and other assets in the Special Custody Account(s) as it shall determine from time to time in its sole discretion, and Broker retains the right to give no value to certain Collateral as it may deem necessary for its protection. Customer shall ensure that the value, as so determined, of the Collateral on deposit at any time in any Special Custody Account is at least equal to the Adequate Margin for the Secured Obligations related thereto. Customer represents and warrants to Broker that the Collateral shall be at all times in good, freely deliverable and transferable form (or Custodian shall have the unrestricted power to put such securities into good, freely deliverable and transferable form) in accordance with the requirements of such exchanges and other markets as may be the primary market or markets for such Collateral.

Appears in 1 contract

Samples: Account Agreement (Hillview Investment Trust Ii)

Opening Special Custody Accounts. Custodian shall open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for BearMxxxxxx Lynch, Stearns Securities Corp. Pierce, Fxxxxx & Sxxxx Incorporated as Pledgee of Mellon Institutional Invexxxxxx TrustThe Cxxxxxxx & Orkin Funds, Inc. on behalf of its series, Mellon Institutional the Market Neutral Fund" Opportunity Fund ” (each a "Special Custody Account") and shall hold in each Special Custody Account all the Collateral, Eligible Assets received by Custodian shall be deposited into the Special Custody Account upon Advice or Instructions, given from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised time by Broker or Instructed by Customer) into such Special Custody Account. , Each Special Custody Account shall be a Securities Account in the name of Customer and containing, among other things, Securities Entitlements within the sole dominion and Control control of Broker. No Collateral may be withdrawn from or transferred from the Special Custody Account other than pursuant to an Advice from Broker, and only in accordance with such Advice. Customer shall at all times have on deposit Eligible Assets into in each Special Custody Account. Customer shall insure that the Account with a value (as from time to time determined by Broker in its judgment exercised in good faith sole discretion and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is not less than the Adequate Margin for the Secured Obligations. Upon Advice that the value of the Eligible Assets in the Special Custody Accounts) is less than the Adequate Margin for the. Secured Obligations, Customer shall promptly immediately deposit therein in the Special Custody Account additional Eligible Assets with a value (so determineddetermined by Broker in its sole discretion) sufficient to remedy such deficiency. Customer agrees to Instruct , Custodian (and Custodian agrees to comply with such Instructions) as to the shall promptly advise Broker of each deposit, whether of Eligible Assets which Custodian is or otherwise, in to deposit a Special Custody Account. All Collateral and maintain in each the Special Custody Account and is to identify on Custodian's books and records as subject to Broker's Security Interest. All Collateral shall be held by Custodian as agent of Broker and shall be released by Custodian only in accordance with the terms of this Agreement or as required by applicable lawcustodian for Broker.

Appears in 1 contract

Samples: Special Custody Account Agreement (Caldwell & Orkin Funds Inc)

Opening Special Custody Accounts. Custodian shall open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Xxxxxxx Securities Corp. as Pledgee of Mellon Institutional Invexxxxxx Trust, on behalf of its series, Mellon Institutional Market Neutral Fund___________________" (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets cash and other assets, properties, items and rights received by Custodian from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and within the sole dominion and Control of Broker. Customer shall deposit Eligible Assets into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets cash and other assets, properties, items and rights which Custodian is to deposit and maintain in each Special Custody Account and is to identify on Custodian's books and records as subject to Broker's Security Interest. All Collateral shall be held by Custodian as agent of and Custodian for Broker and shall may be released by Custodian only in accordance with the terms of this Agreement or as required by applicable law.

Appears in 1 contract

Samples: Account Agreement (Barr Rosenberg Variable Insurance Trust)

Opening Special Custody Accounts. Custodian shall shall, at the request of Customer and Broker, open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Xxxxxxx Securities Corp. as Pledgee of Mellon Institutional Invexxxxxx TrustThe Xxxxxxx Funds, on behalf of its series, Mellon Institutional Market Neutral Inc. for Xxxxxxx Small Cap Growth Fund" (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets received by Custodian from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and within the sole dominion and Control of Broker. Customer shall deposit Eligible Assets into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets which Custodian is to deposit and maintain in each Special Custody Account and is to identify on Custodian's ’s books and records as subject to Broker's ’s Security Interest. All Collateral shall be held by Custodian as agent of and Custodian for Broker and shall may be released by Custodian only in accordance with the terms of this Agreement or as required by applicable law.

Appears in 1 contract

Samples: Special Custody Account Agreement (Needham Funds Inc)

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Opening Special Custody Accounts. Custodian shall shall, at the request of Customer and Broker, open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Xxxxxxx Securities Corp. as Pledgee of Mellon Institutional Invexxxxxx TrustThe Xxxxxxx Funds, on behalf of its series, Mellon Institutional Market Neutral Inc. for Xxxxxxx Aggressive Growth Fund" (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets received by Custodian from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and within the sole dominion and Control of Broker. Customer shall deposit Eligible Assets into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets which Custodian is to deposit and maintain in each Special Custody Account and is to identify on Custodian's ’s books and records as subject to Broker's ’s Security Interest. All Collateral shall be held by Custodian as agent of and Custodian for Broker and shall may be released by Custodian only in accordance with the terms of this Agreement or as required by applicable law.

Appears in 1 contract

Samples: Special Custody Account Agreement (Needham Funds Inc)

Opening Special Custody Accounts. Custodian shall open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Xxxxxxx Securities Corp. as Pledgee of Mellon Institutional Invexxxxxx Trust, on behalf of its series, Mellon Institutional Market Neutral Fund" EQ Advisors Trust - EQ/AXA Xxxxxxxxx Value Long/Short Equity Portfolio” (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets received by Custodian from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and within the sole dominion and Control of Broker. Customer shall deposit Eligible Assets into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets which Custodian is to deposit and maintain in each Special Custody Account and is to identify on Custodian's ’s books and records as subject to Broker's ’s Security Interest. All Collateral shall be held by Custodian as agent of and Custodian for Broker and shall may be released by Custodian only in accordance with the terms of this Agreement or as required by applicable law.

Appears in 1 contract

Samples: Special Custody Account Agreement (Eq Advisors Trust)

Opening Special Custody Accounts. Custodian shall open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Securities Corp. ING Barings LLC as Pledgee of Mellon Institutional Invexxxxxx TrustCxxxxxxx & Orkin Market Opportunity Fund, on behalf of its series, Mellon Institutional Market Neutral FundInc." (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets cash and other assets, properties, items and rights received by Custodian from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and within the sole dominion dominion, control and Control of Broker. Customer shall deposit Eligible Assets into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its reasonable judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its reasonable judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. , Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets cash and other assets, properties, items and rights which Custodian is to deposit and maintain in each Special Custody Account and is to identify on Custodian's books and records as subject to Broker's Security Interest. All Collateral shall be held by Custodian as agent of and Custodian for Broker and shall may be released by Custodian only in accordance with the terms of this Agreement or as required by applicable law.

Appears in 1 contract

Samples: Special Custody Account Agreement (Caldwell & Orkin Funds Inc)

Opening Special Custody Accounts. Custodian shall open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Securities Xxxxxxx Xxxxx Professional Clearing Corp. as Pledgee of Mellon Institutional Invexxxxxx Trust, on behalf of its series, Mellon Institutional Market Neutral The Xxxxxxx Renaissance Fund" (each a "Special Custody Account") and shall hold in each Special Custody Account all the Collateral. Eligible Assets received by Custodian shall be deposited into the Special Custody Account upon Advice or Instructions, given from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised time by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and containing, among other things, Securities Entitlements within the sole dominion and Control control of Broker. No Collateral may be withdrawn from or transferred from the Special Custody Account other than pursuant to an Advice from Broker, and only in accordance with such Advice. Customer shall at all times have on deposit Eligible Assets into in each Special Custody Account. Customer shall insure that the Account with a value (as from time to time determined by Broker in its judgment exercised in good faith sole discretion and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to not less than the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer)Obligations. Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly immediately deposit therein in the Special Custody Account additional Eligible Assets with a value (so determineddetermined by Broker in its sole discretion) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the shall promptly advise Broker of each deposit, whether of Eligible Assets which Custodian is or otherwise, in to deposit a Special Custody Account. All Collateral and maintain in each the Special Custody Account and is to identify on Custodian's books and records as subject to Broker's Security Interest. All Collateral shall be held by Custodian as agent of Broker and shall be released by Custodian only in accordance with the terms of this Agreement or as required by applicable lawcustodian for Broker.

Appears in 1 contract

Samples: Special Custody Account Agreement (Cushing Renaissance Fund)

Opening Special Custody Accounts. Custodian shall shall, at the request of Customer and Broker, open one or (at the request of Broker) more separate special custody accounts, each such account to be entitled "Special Custody Account for Bear, Stearns Securities Corp. BSSC as Pledgee of Mellon Institutional Invexxxxxx TrustWilshire Mutual Funds, on behalf of its series, Mellon Institutional Market Neutral Inc. f/b/o Wilshire Large Cap Core 130/30 Fund" (each a "Special Custody Account") and shall hold in each Special Custody Account all Eligible Assets received by Custodian from time to time, pursuant to this Agreement, and, to the extent not inconsistent herewith, the Custodian Contract, for deposit (as Advised by Broker or Instructed by Customer) into such Special Custody Account. Each Special Custody Account shall be a Securities Account in the name of Customer and within the sole dominion and Control of Broker. Customer shall deposit Eligible Assets into each Special Custody Account. Customer shall insure that the value (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer) of all Eligible Assets from time to time on deposit in the Special Custody Account(s) is at least equal to the Adequate Margin for the Secured Obligations (as from time to time determined by Broker in its judgment exercised in good faith and notified by Broker to Customer). Upon Advice that the value (so determined) of the Eligible Assets in the Special Custody Account(s) is less than the Adequate Margin for the Secured Obligations, Customer shall promptly deposit therein additional Eligible Assets with a value (so determined) sufficient to remedy such deficiency. Customer agrees to Instruct Custodian (and Custodian agrees to comply with such Instructions) as to the Eligible Assets which Custodian is to deposit and maintain in each Special Custody Account and is to identify on Custodian's ’s books and records as subject to Broker's ’s Security Interest. All Collateral shall be held by Custodian as agent of and Custodian for Broker and shall may be released by Custodian only in accordance with the terms of this Agreement or as required by applicable law.

Appears in 1 contract

Samples: Special Custody Account Agreement (Wilshire Mutual Funds Inc)

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