Qualified Custodian Sample Clauses
A Qualified Custodian clause defines the requirement that certain assets, typically client funds or securities, must be held by a financial institution that meets specific regulatory standards for safeguarding those assets. In practice, this means that only banks, trust companies, or other entities recognized by law as qualified custodians are permitted to hold and manage these assets on behalf of clients. This clause ensures that client assets are protected from misuse or misappropriation by requiring their segregation and oversight by reputable, regulated institutions, thereby reducing the risk of loss or fraud.
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Qualified Custodian. The Intermediary acknowledges that, for the purposes of any Account described herein, it shall be deemed the “qualified custodian” thereof as defined in Rule 206-4(2) under the Investment Advisers Act of 1940, as amended; provided that nothing in this clause shall impose any additional duties on the Intermediary, including any reporting duties under such rule, other than those duties expressly set forth herein.
Qualified Custodian. It is qualified to act as a custodian pursuant to Section 17(f) of the 1940 Act; provided that, for the avoidance of doubt and notwithstanding anything herein to the contrary, the Borrower agrees that the Collateral Custodian shall not have, nor shall be implied to have, any duties with respect to furnishing reports or other information as contemplated by the 1940 Act, and the Collateral Custodian shall only be obligated to furnish information and reports to the extent expressly provided in the Transaction Documents.
Qualified Custodian. The Collateral Custodian acknowledges that it (i) is qualified to act as a custodian pursuant to Section 17(f) of the 1940 Act and (ii) has been appointed to act as a custodian of all assets of the Borrower under this Agreement; provided that the Collateral Custodian shall not have, nor shall be implied to have, any duties, obligations or responsibilities other than those expressly set forth in the Transaction Documents, including, without limitation, any duty to monitor or act to ensure the compliance of the Borrower, the Collateral Manager or any other party with their respective requirements under the 1940 Act.
Qualified Custodian. Manager is not authorized to accept delivery of cash or securities for the Assets or to establish or maintain custodial arrangements for the Assets. RM Adviser, on behalf of MogulREIT II, shall choose a custodian (the “Custodian”) to hold physical custody of the Assets. RM Adviser shall direct the Custodian to segregate the Assets and to invest and reinvest them in accordance with the directions transmitted by Manager and received by the Custodian. Such directions shall be given in writing, or given orally and confirmed in writing promptly thereafter. RM Adviser shall not change the Custodian without giving Manager reasonable advance written notice of its intention to do so, together with the name and other relevant information with respect to the new Custodian. Manager shall not be liable for any act or omission of the Custodian. The parties acknowledge that RM Adviser shall have direct access to the Custodian.
Qualified Custodian. The Collateral Custodian is and will act as custodian of all assets of the Borrower under this Agreement for all purposes under Section 17(f)(1) of the 1940 Act.
Qualified Custodian. The Securities Intermediary acknowledges that, for the purposes of any Account described herein, it shall be deemed the “qualified custodian” as defined in Rule 206-4(2) under the Investment Advisers Act of 1940, as amended. For the avoidance of doubt and notwithstanding anything herein to the contrary, the Pledgor agrees that the Securities Intermediary shall not have nor shall be implied to have any duties with respect to furnishing reports or other information except as expressly set forth in the Transaction Documents.
Qualified Custodian. The Securities Intermediary acknowledges that, for the purposes of any Account described herein, it shall be deemed the “qualified custodian” thereof as defined in Rule 206-4(2) under the Investment Advisers Act of 1940, as amended.
Qualified Custodian. It is qualified to act as a custodian pursuant to Section 17(f) of the 1940 Act.