Common use of REGISTRATION AND OTHER ACTION Clause in Contracts

REGISTRATION AND OTHER ACTION. (A) The Client understands and agrees that, except as may be specified in the Service Standards, Property shall be registered as the Custodian may direct either in the name of the Custodian, Subcustodian or Clearance System, or nominee of any of them, in the jurisdiction where the Property is required to be registered or otherwise held; provided, however that the books and records of the Custodian shall reflect that such securities are held for the benefit of the Client. Where feasible, the Custodian will arrange on written request by the Client for the registration of Property with the issuer or its agent in the name of the Client or its nominee. The Client understands and agrees, however, that the Custodian shall have discretion to determine whether such direct registration is feasible.

REGISTRATION AND OTHER ACTION. (A) The Client understands and agrees that, except as may be specified in the Service Standardsany operating procedures, Property shall be registered as the Custodian may direct either in the name of the Custodian, Subcustodian or Clearance System, or nominee of any of them, in the jurisdiction where the Property is required to be registered or otherwise held; provided, however that the books and records of the Custodian shall reflect that such securities are held for the benefit of the Client. Where feasible, the Custodian will arrange on written request by the Client for the registration of Property Property, consistent of certificated securities held by the Custodian, with the issuer or its agent in the name of the Client or its nominee. The Client understands and agrees, however, that the Custodian shall have discretion to determine whether such direct registration is feasible.