Purchase of Investments. Pursuant to Instruction, Investments purchased for the account of the Fund shall be paid for (a) against delivery thereof to the Custodian or a Subcustodian, as the case may be, either directly or through a Clearing Corporation or a Securities Depository (in accordance with the rules of such Securities Depository or such Clearing Corporation), or (b) otherwise in accordance with an Instruction, Applicable Law, generally accepted trade practices, or the terms of the instrument representing such Investment.
Purchase of Investments. Promptly after each purchase of Investments by the Trust, the Trust shall deliver to the Custodian (i) with respect to each purchase of Investments which are not Money Market Securities, Written Instructions, and (ii) with respect to each purchase of Money Market Securities, Oral or Written Instructions, specifying with respect to each such purchase the:
1) Name of the issuer and the title of the securities;
2) Number of shares, principal amount purchased (and accrued interest, if any) or other units purchased;
3) Date of purchase and settlement;
4) Purchase price per unit;
5) Total amount payable;
6) Name of the person from whom, or the broker through which, the purchase was made;
7) Name of the person to whom such amount is payable; and
8) Name of the Fund for which the purchase was made. The Custodian shall, against receipt of Investments purchased by or for the Trust, pay out of the moneys held for the account of such Fund the total amount specified in the Written Instructions to the person named therein. The Custodian shall not be under any obligation to pay out moneys to cover the cost of a purchase of Investments for a Fund, if in the relevant Fund custody account there is insufficient cash available to the Fund for which such purchase was made. With respect to any repurchase agreement transaction for the Funds, the Custodian shall assure that the collateral reflected on the transaction advice is received by the Custodian.
Purchase of Investments. Pursuant to Instruction, Investments purchased for the account of the Fund shall be paid for (a) against delivery thereof to the Custodian or a Subcustodian, as the case may be, either directly or through a Clearing Corporation or a Securities Depository (in accordance with the rules of such Securities Depository or such Clearing Corporation), or (b) otherwise in accordance with an Instruction or Applicable Law. However, (i) in the case of repurchase agreements entered into by the Fund, the Custodian may release funds to a securities system or to a Subcustodian prior to the receipt of advice from the securities system or Subcustodian that the securities underlying such repurchase agreement have been transferred by book entry into the Account of the Custodian maintained with such securities system or Subcustodian, so long as such payment instructions to the securities system or Subcustodian include a requirement that delivery is only against payment for securities, (ii) in the case of foreign exchange contracts, options, time deposits, call account deposits, currency deposits, and other deposits, contracts or options, the Custodian may make payment therefor without receiving an instrument evidencing said deposit, contract or option so long as such payment instructions detail specific securities to be acquired, and (iii) in the case of securities for which payment for the security and receipt of the instrument evidencing the security are under generally accepted trade practice or the terms of the instrument representing the security expected to take place in different locations or through separate parties, the Custodian may make payment for such securities prior to delivery thereof in accordance with such generally accepted trade practice or the terms of the instrument representing such security.
Purchase of Investments. The Treasurer or Deputy Treasurer and the Assistant Superintendent each is authorized to contract for the purchase of investments:
1. Directly, including through a repurchase agreement, from an authorized trading partner.
2. By participation in a cooperative investment program with another authorized governmental entity pursuant to article 3-A and article 5-G of the GML where such program meets, among all other things, substantially all the requirements set forth in the Office of the State Comptroller Opinion No. 88-46, and the specific program has been authorized by the Governing Board.
3. By utilizing an ongoing investment program with an authorized trading partner pursuant to a contract authorized by the Governing Board. All purchased obligations, unless registered or inscribed in the name of the local government, shall be purchased through, delivered to and held in the custody of a bank or trust company. Such obligations shall be purchased, sold or presented for redemption or payment by such bank or trust company only in accordance with prior written authorization from the officer authorized to make the investment. All such transactions shall be confirmed in writing to the Red Hook Central School District by Investment Consultant. Any obligation held in the custody of a bank or trust company shall be held pursuant to a written custodial agreement as described in Section 10 of the GML. The custodial agreement shall provide that securities held by the bank or trust company, as agent of and custodian for, the local government, will be kept separate and apart from the general assets of the custodial bank or trust company and will not, in any circumstances, be commingled with or become part of the backing for any other deposit or other liabilities. Such agreement shall describe how the custodian shall confirm the receipt, substitution and release of the securities. Such agreement shall include all provisions necessary to provide the local government a perfected interest in the securities. Such agreement shall provide for the frequency of revaluation of collateral by the custodian and the substitution of collateral when a change in the rating of a security causes ineligibility pursuant to Section 10(1)(f) of the GML.
Purchase of Investments. Within a commercially reasonable time after each purchase of Investments by a Fund, the Company shall deliver to the Custodian (i) with respect to each purchase of Investments which are not Money Market Securities, Written Instructions, and (ii) with respect to each purchase of Money Market Securities, Oral or Written Instructions, specifying with respect to each such purchase the:
(a) Name of the issuer and the title of the securities;
(b) Number of shares, principal amount purchased (and accrued interest, if any) or other units purchased;
(i) Date of purchase and settlement;
(ii) Purchase price per unit;
(iii) Total amount payable;
(iv) Name of the person from whom, or the broker through which, the purchase was made;
(v) Name of the person to whom such amount is payable; and
(vi) Name of the Fund for which the purchase was made. The Custodian shall, against receipt of Investments purchased by or for the Fund, pay out of the moneys held for the account of such Fund the total amount specified in the Written Instructions to the person named therein. The Custodian shall not be under any obligation to pay out moneys to cover the cost of a purchase of Investments for a Fund, if in the relevant Fund custody account there is insufficient cash available to the Fund for which such purchase was made. With respect to any repurchase agreement transaction for the Funds, the Custodian shall assure that the collateral reflected on the transaction advice is received by the Custodian.
Purchase of Investments. Promptly after each purchase of Investments by the Company, the Company shall deliver to the Custodian (i) with respect to each purchase of Investments which are not Money Market Securities, Written Instructions, and (ii) with respect to each purchase of Money Market Securities, Oral or Written Instructions, specifying with respect to each such purchase the:
(a) Name of the issuer and the title of the securities;
(b) Number of shares, principal amount purchased (and accrued interest, if any) or other units purchased;
(i) Date of purchase and settlement;
(ii) Purchase price per unit;
(iii) Total amount payable;
(iv) Name of the person from whom, or the broker through which, the purchase was made;
(v) Name of the person to whom such amount is payable; and
(vi) Name of the Fund for which the purchase was made. Custodian and Company acknowledge that the number of shares/units and the purchase price per share/unit may not be promptly available with respect to certain Investments and Custodian and Company agree that this information will be provided to the Custodian promptly after it is made available to the Company. The Custodian shall, against receipt of Investments purchased by or for the Company, pay out of the moneys held for the account of such Fund the total amount specified in the Written Instructions to the person named therein. The Custodian shall not be under any obligation to pay out moneys to cover the cost of a purchase of Investments for a Fund, if in the relevant Fund custody account there is insufficient cash available to the Fund for which such purchase was made. With respect to any repurchase agreement transaction for the Funds, the Custodian shall assure that the collateral reflected on the transaction advice is received by the Custodian.
Purchase of Investments. With respect to Trust Investments purchased and to be held at the Sub-custodian, an Authorized Person shall deliver to the Sub-custodian, after any such purchase, Instructions specifying with respect to each such purchase the:
(a) Name of the issuer and the title of the securities;
(b) Number of shares, principal amount purchased (and accrued interest, if any) or other units purchased;
(c) Date of purchase and settlement;
(d) Purchase price per unit;
(e) Total amount payable;
(f) Name of the person from whom, or the broker through which, the purchase was made; and
(g) Name of the person to whom such amount is payable. The Sub-custodian shall, against receipt of these Investments, pay out of the moneys held for the account of the Trust the total amount specified in the Instructions to the person named therein. With respect to any such Investment that constitutes an interest in a repurchase agreement, the Sub-custodian shall assure that the collateral reflected on the transaction advice is received by the Sub-custodian.
Purchase of Investments is amended by the addition of the following at the end of said Section: “Without limiting the generality of the foregoing, the following provisions shall apply with respect to settlement of purchases of securities in Russia. Unless otherwise instructed by Proper Instructions acceptable to the Custodian, the Custodian shall only authorize a Subcustodian to make payment for purchases of Russian Equities upon receipt of the relevant Share Extract reflecting the ownership of all the shares in respect of a Fund’s purchases. Delivery of Russian Equities will be accepted by the Custodian or the Subcustodian on behalf of the Fund, in accordance with the customary or established securities trading or securities processing practices and procedures in place in Russia.”
Purchase of Investments. Promptly after each purchase of Investments by the Company, the Company shall deliver to the Custodian (i) with respect to each purchase of Investments which are not Money Market Securities, Written Instructions, and (ii) with respect to each purchase of Money Market Securities, Written Instructions, specifying with respect to each such purchase the:
(a) Name of the issuer and the title of the securities; (b) Number of shares, principal amount purchased (and accrued interest, if any) or other units purchased; (i) Date of purchase and settlement; (ii) Purchase price per unit; (iii) Total amount payable; (iv) Name of the person from whom, or the broker through which, the purchase was made; (v) Name of the person to whom such amount is payable; and (vi) Name of the Fund for which the purchase was made.
Purchase of Investments. Pursuant to Instruction, Investments purchased for the account of the Fund shall be paid for (a) against delivery thereof to the Custodian or a Subcustodian, as the case may be, either directly or through a Clearing Corporation or a Securities Depository (in accordance with the rules of such Securities Depository or such Clearing Corporation), or (b) otherwise in accordance with an Instruction, Applicable Law, generally accepted trade practices, or the terms of the instrument representing such Investment. Without limiting the generality of the foregoing, the following provisions shall apply with respect to settlement of purchases of securities in Russia. Unless otherwise instructed by Proper Instructions acceptable to the Custodian, the Custodian shall only authorize a Subcustodian to make payment for purchases of Russian Equities upon receipt of the relevant Share Extract in respect of the Portfolio's purchases. With respect to securities other than Russian Equities, settlement of purchases shall be made in accordance with securities processing or settlement practices which the Custodian in its discretion determines to be a market practice. The Custodian shall only be responsible for securities purchased upon actual receipt of such securities at the premises of its Subcustodian, provided that the Custodian's responsibility for securities represented by Share Extracts shall be limited to the safekeeping of the relevant Share Extract upon actual receipt of such Share Extract at the premises of the Subcustodian.
