Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases: (i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian: (A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or (B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System; (ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and (iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made. (b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 4 contracts
Samples: Custody Agreement (Capital Southwest Corp), Custody Agreement (GSV Growth Credit Fund Inc.), Custody Agreement (Sierra Total Return Fund)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian or Document Custodian, as applicable, shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 4 contracts
Samples: Custody Agreement (NMF Senior Loan Fund I, Inc.), Custody Agreement (NMF Senior Loan Fund I, Inc.), Custody Agreement (New Mountain Guardian III BDC, L.L.C.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 3 contracts
Samples: Custody Agreement (GSV Growth Credit Fund Inc.), Custody Agreement (TICC Capital Corp.), Custody Agreement (Oxford Lane Capital Corp.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodiancustodians, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodiancustodians, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 3 contracts
Samples: Custody Agreement (Guggenheim Credit Income Fund 2021), Custody Agreement (Carey Credit Income Fund 2018 T), Custody Agreement (Carey Credit Income Fund 2017 T)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodiancustodians, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:;
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodiancustodians, as contemplated by Section 3.8 3.5 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 6 hereof, and (ii) as otherwise permitted by Section 7.53.11, 9.4 10.4 or Section 12.5 10.7 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custodian Agreement (Kohlberg Capital, LLC), Custodian Agreement (Ares Capital Corp)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodiancustodians, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodiancustodians, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custody Agreement (Golub Capital BDC 3, Inc.), Custody Agreement (Golub Capital Investment Corp)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custody Agreement (VII Peaks Co-Optivist Income Fund), Custody Agreement (VII Peaks-KBR Co-Optivist Income BDC II, Inc.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custody Agreement (OFS Credit Company, Inc.), Custody Agreement (CM Finance Inc)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custody Agreement (Newtek Business Services Corp.), Custody Agreement (New Mountain Finance Holdings, L.L.C.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodiansub- custodians, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:;
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodiancustodians, as contemplated by Section 3.8 3.6 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 5 hereof, and (ii) as otherwise permitted by Section 7.53.11, 9.4 or Section 12.5 9.7 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custodian Agreement (GSC Investment Corp.), Custodian Agreement (GSC Investment LLC)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper InstructionsInstruction, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any undisputed amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (ix) the Custodian or Document Custodian, as applicable, shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay and/or dispute such amounts within thirty (30) days after the date of such invoice or bxxxbill, and (iiy) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custody Agreement (5C Lending Partners Corp.), Custody Agreement (5C Lending Partners Corp.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash a Custodial Account designated by the Company (or remit to its agents or its subany Sub-custodian, and direct them to pay out) moneys of the Company on deposit held therein in the following cases:
(i) upon the purchase of Securities Assets for the Company pursuant to such Proper Instructions; and Instructions against delivery of such purchase may, unless and except Assets to the extent Custodian or, if otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase payment of any dividends or sale capital gain distributions declared by the Company;
(iii) in payment of foreign the redemption price of Shares;
(iv) in connection with the conversion, exchange or foreign exchange agreements surrender of any securities owned by the Company;
(v) for the payment of any expense or liability incurred by the Company, including, but not limited to, the following payments for the account of the Company: interest; taxes; administration, investment advisory, accounting, auditing, transfer agent, custodian, director and legal fees; and other operating expenses of the Company; in all cases, whether or not such expenses are to be in whole or in part capitalized or treated as deferred expenses;
(vi) for transfer in accordance with the provisions of any agreement among the Company, the Custodian and a broker-dealer registered under the 1934 Act and a member of FINRA relating to compliance with rules of the Options Clearing Corporation and of any registered national securities exchange (or of any similar organization or organizations) regarding escrow or other arrangements in connection with transactions by the Company;
(vii) for a funding of any uncertificated time deposit or other interest-bearing account with any banking institution (including transactions executed with or through the Custodian), its agents which deposit or its sub-custodian, as contemplated by Section 3.8 aboveaccount has a term of one year or less; and
(iiiviii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custody Agreement (YieldStreet Prism Fund Inc.), Custody Agreement (YieldStreet Prism Fund Inc.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securitiesSecurities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian or Document Custodian, as applicable, shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custody Agreement (MSD Investment Corp.), Custody Agreement (Nuveen Churchill BDC INC.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above;
(iii) in payment of the price of securities of by the Company repurchased in open market purchases, tender offers or any other Company repurchase program; and
(iiiiv) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 7.5 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 2 contracts
Samples: Custody Agreement (Pathway Energy Infrastructure Fund, Inc.), Custody Agreement (Priority Senior Secured Income Fund, Inc.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the The Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (iA) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (iiB) all such payments shall be regularly accounted for to the Company. To the extent either party is aware of a potential dispute with respect to amounts payable to the Custodian pursuant to the Agreement, the parties will work together in good faith to resolve such dispute.
Appears in 2 contracts
Samples: Custody Agreement (CION Investment Corp), Custody Agreement (CION Investment Corp)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
: (i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
; (ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 above; and
(iii) for the payment of monthly or special distributions, inclusive of accompanying shareholder servicing and / or distribution fees; (iv) for the repurchase of shares pursuant to tender offers; and (v) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company Companies (or remit to its agents or its sub-custodiancustodians, and direct them to pay out) moneys of the Company Companies on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company Companies pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the CompanyCompanies, including transactions executed with or through the Custodian, its agents or its sub-custodiancustodians, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the CompanyCompanies, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the CompanyCompanies, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the CompanyCompanies.
Appears in 1 contract
Samples: Custody Agreement (Carey Credit Income Fund 2015 T)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall cause U.S. Bank National Association to pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodiancustodians, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securitiesSecurities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section Sections 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian or Document Custodian, as applicable, shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxbill, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Samples: Custody Agreement (Nuveen Churchill Private Credit Fund)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) or to an escrow account used in connection with a closing transaction, in each case against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxbill, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Samples: Custody Agreement (Silver Point Specialty Lending Fund)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 7.5 or Section 12.5 9.4 below; , provided, however, that in each case (ia) the Custodian shall have first invoiced or billed the Company for such amounts and amounts, (b) Custodian will have written proof of delivery of such invoice or xxxx, (c) the Company shall have failed to pay such amounts within thirty ninety (3090) days after the date of such invoice or bxxxxxxx, (d) none of the amounts invoiced shall be disputed in writing and in good faith by the Company at the time Custodian pays itself from any of the Cash Accounts, (e) Custodian shall have notified the Company in writing of its intention to pay itself from any Cash Accounts no less than seven days prior to such payment and (iif) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Samples: Custody Agreement (Griffin-Benefit Street Partners BDC Corp.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash a Custodial Account designated by the Company (or remit to its agents or its subany Sub-custodian, and direct them to pay out) moneys of the Company on deposit held therein in the following cases:
(i) upon the purchase of Securities Assets for the Company pursuant to such Proper Instructions; and Instructions against delivery of such purchase may, unless and except Assets to the extent Custodian or, if otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase payment of any dividends or sale capital gain distributions declared by the Company;
(iii) in payment of foreign the redemption price of Redemption Shares;
(iv) in connection with the conversion, exchange or foreign exchange agreements surrender of any securities owned by the Company;
(v) for the payment of any expense or liability incurred by the Company, including, but not limited to, the following payments for the account of the Company: interest; taxes; administration, investment advisory, accounting, auditing, transfer agent, custodian, director and legal fees; and other operating expenses of the Company; in all cases, whether or not such expenses are to be in whole or in part capitalized or treated as deferred expenses;
(vi) for transfer in accordance with the provisions of any agreement among the Company, the Custodian and a broker-dealer registered under the 1934 Act and a member of FINRA relating to compliance with rules of the Options Clearing Corporation and of any registered national securities exchange (or of any similar organization or organizations) regarding escrow or other arrangements in connection with transactions by the Company;
(vii) for a Funding of any uncertificated time deposit or other interest-bearing account with any banking institution (including transactions executed with or through the Custodian), its agents which deposit or its sub-custodian, as contemplated by Section 3.8 aboveaccount has a term of one year or less; and
(iiiviii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Samples: Custody Agreement (IDR Core Property Index Fund LTD)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-sub- custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Samples: Custody Agreement (OFS Capital Corp)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 above;
(iii) for the payment of monthly or special distributions, inclusive of accompanying shareholder servicing and / or distribution fees;
(iv) for the repurchase of shares pursuant to tender offers; and
(iiiv) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Securities Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 above3.7; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Securities Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof8, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; 12.5, provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty sixty (3060) days after the date of such invoice or bxxxbill, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Samples: Custody Agreement (Prospect Floating Rate & Alternative Income Fund, Inc.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall cause U.S. Bank National Association to pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodiancustodians, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodiancustodians, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian or Document Custodian, as applicable, shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Samples: Custody Agreement (Nuveen Churchill Private Capital Income Fund)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereofhereof and not disputed in good faith by the Company in writing, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
: (A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
or (B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
; (ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
or (iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, wire instructions and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; provided.
(c) In the case of any wire transfer to the Company, however, that in each case (i) the Custodian shall set up a wire template in its system (the “Template”) and will, with respect to the initial wire, complete a callback verification based on the instructions contained in the Template. If the instructions contained in the Template have first invoiced or billed not changed, the Custodian will not be required to complete a callback verification in respect of any subsequent wire transfers to the Company for such amounts and initiated by an Authorized Person. In the event there are any changes to the instructions in the Template, the Custodian will require a callback verification on the first wire being requested by Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for changes to the CompanyTemplate.
Appears in 1 contract
Samples: Custody Agreement (New Mountain Guardian IV BDC, L.L.C.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.6 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose (including without limitation expense payments) directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Securities Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Securities Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxbill, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Samples: Custody Agreement (OFS Capital, LLC)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 3.7 above;
(iii) for the payment of distributions, inclusive of accompanying shareholder servicing and/or distribution fees;
(iv) for the repurchase of Shares pursuant to tender offers; and
(iiiv) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any undisputed amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 13.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxbill, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodiansub- custodians, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Samples: Custody Agreement (Monroe Capital Income Plus Corp)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any undisputed amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (ix) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay and/or dispute such amounts within thirty sixty (3060) days after the date of such invoice or bxxxbill, and (iiy) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, wire instructions and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; provided.
(c) In the case of any wire transfer to the Company, however, that in each case (i) the Custodian shall set up a wire template in its system (the “Template”) and will, with respect to the initial wire, complete a callback verification based on the instructions contained in the Template. If the instructions contained in the Template have first invoiced or billed not changed, the Custodian will not be required to complete a callback verification in respect of any subsequent wire transfers to the Company for such amounts and initiated by an Authorized Person. In the event there are any changes to the instructions in the Template, the Custodian will require a callback verification on the first wire being requested by Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for changes to the CompanyTemplate.
Appears in 1 contract
Samples: Custody Agreement (New Mountain Guardian III BDC, L.L.C.)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodiancustodians, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) i. upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) . for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) . for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxbill, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian.:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (ia) the Custodian shall have first invoiced or billed the Company for such amounts and amounts, (b) Custodian will have written proof of delivery of such invoice or xxxx, (c) the Company shall have failed to pay such amounts within thirty ninety (3090) days after the date of such invoice or bxxxxxxx, (d) none of the amounts invoiced shall be disputed in writing and in good faith by the Company at the time Custodian pays itself from any of the Cash Accounts, (e) Custodian shall have notified the Company in writing of its intention to pay itself from any Cash Accounts no less than seven days prior to such payment and (iif) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including including, if applicable and appropriate, delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose (including without limitation expense payments) directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any undisputed amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (ix) the Custodian or Document Custodian, as applicable, shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay and/or dispute such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (iiy) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the CompanyCompany and the Custodian shall promptly inform the Company thereafter.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any undisputed amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (ix) the Custodian or Document Custodian, as applicable, shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay and/or dispute such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (iiy) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodiancustodians, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:;
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including including, without limitation, delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodiancustodians, as contemplated by Section 3.8 3.6 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At No less than 7 days following the delivery of a statement to the Company identifying any time or timessuch amounts, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 6 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 3.11(a) or Section 12.5 10.4 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securitiesSecurities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account Accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or written instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section Sections 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly documented by the Custodian and accounted for to the Company.
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Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxcase, and (ii) all such payments shall be regularly accounted for to the Company.
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Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the repurchase of shares pursuant to tender offers;
(iii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 above; and
(iiiiv) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Accounts, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxbill, and (ii) all such payments shall be regularly accounted for to the Company.
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Samples: Custody Agreement (Investcorp US Institutional Private Credit Fund)
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Custodial Account designated by the Company (or remit to its agents or its subSub-custodianCustodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its subSub-custodianCustodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash Custodial Accounts, whether or not in receipt of express direction or instruction from the Company, any undisputed amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (ix) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay and/or dispute such amounts within thirty sixty (3060) days after the date of such invoice or bxxxbill, and (iiy) all such payments shall be regularly accounted for to the Company.
Appears in 1 contract
Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including including, if applicable and appropriate, delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose (including without limitation expense payments) directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any undisputed amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian or Document Custodian, as applicable, shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay and/or dispute such amounts within thirty (30) days after the date of such invoice or bxxxxxxx, and (ii) all such payments shall be regularly accounted for to the Company.
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Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper Instructions; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, wire instructions and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, Section 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxxbill, and (ii) all such payments shall be regularly accounted for to the Company.
(c) In the case of any wire transfer to the Company, the Custodian shall set up a wire template in its system (the “Template”) and will, with respect to the initial wire, complete a callback verification based on the instructions contained in the Template. If the instructions contained in the Template have not changed, the Custodian will not be required to complete a callback verification in respect of any subsequent wire transfers to the Company initiated by an Authorized Person. In the event there are any changes to the instructions in the Template, the Custodian will require a callback verification on the initial wire being sent after the changes to the Template.
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Payment of Moneys. (a) Upon receipt of Proper Instructions, which may be standing instructions, the Custodian shall pay out from the respective Cash Account designated by the Company (or remit to its agents or its sub-custodian, and direct them to pay out) moneys of the Company on deposit therein in the following cases:
(i) upon the purchase of Securities for the Company pursuant to such Proper InstructionsInstruction; and such purchase may, unless and except to the extent otherwise directed by Proper Instructions, be carried out by the Custodian:
(A) in accordance with the customary or established practices and procedures in the jurisdiction or market where the transactions occur, including delivering money to the seller thereof or to a dealer therefor (or any agent for such seller or dealer) against expectation of receiving later delivery of such securitiesSecurities; or
(B) in the case of a purchase effected through a Securities System, in accordance with the rules governing the operation of such Securities System;
(ii) for the purchase or sale of foreign exchange or foreign exchange agreements for the account accounts of the Company, including transactions executed with or through the Custodian, its agents or its sub-custodian, as contemplated by Section 3.8 3.7 above; and
(iii) for any other purpose directed by the Company, but only upon receipt of Proper Instructions specifying the amount of such payment, and naming the Person or Persons to whom such payment is to be made.
(b) At any time or times, the Custodian shall be entitled to pay (i) itself and the Document Custodian from any of the Cash AccountsAccount, whether or not in receipt of express direction or instruction from the Company, any amounts due and payable to it pursuant to Section 8 hereof, and (ii) as otherwise permitted by Section 7.5, 9.4 or Section 12.5 below; , provided, however, that in each case (i) the Custodian or Document Custodian, as applicable, shall have first invoiced or billed the Company for such amounts and the Company shall have failed to pay such amounts within thirty (30) days after the date of such invoice or bxxx, and (ii) all such payments shall be regularly accounted for to the Company.
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