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Common use of Reversals Clause in Contracts

Reversals. In some securities markets and cash clearing systems, deliveries of securities and cash may be reversed under certain circumstances. Accordingly, credits of securities to a Securities Account and cash to the Cash Account are provisional and subject to reversal if, in accordance with relevant local law and practice, the delivery of the security or cash giving rise to the credit is reversed.

Appears in 6 contracts

Samples: Global Custody Agreement, Global Custody Agreement (Maxim Series Fund Inc), Us Domestic Custody Agreement (Smith Barney Travelers Series Fund Inc)

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Reversals. In Client stipulates and acknowledges that in some securities markets markets, and under certain cash clearing systems, deliveries of securities and cash may be reversed under certain circumstances. Accordingly, Client agrees that credits of securities Securities to a the Securities Account Accounts and cash to the Cash Account are Accounts will be provisional and subject to reversal if, in accordance with relevant local law and practicepractice in the market, the delivery of the security Security or cash giving rise to the credit is reversed.

Appears in 5 contracts

Samples: Custody Agreement (Prudential Series Fund Inc), Custody Agreement (Prudential Variable Contract Account 10), Custody Agreement (Prudential Variable Contract Account 11)

Reversals. In some securities markets and cash clearing systems, deliveries of securities and cash may be reversed under certain circumstances. Accordingly, credits of securities to a Securities Account and cash to the a Cash Account are provisional and subject to reversal if, in accordance with relevant local law and practice, the delivery of the security or cash giving rise to the credit is reversed.

Appears in 1 contract

Samples: Global Custody Agreement (Orchard Series Fund)

Reversals. In some securities markets and cash clearing systems, systems deliveries of securities and cash may be reversed under certain circumstances. Accordingly, credits of securities to a the Securities Account and cash to the Cash Account are provisional and subject to reversal if, in accordance with relevant local law and practice, the delivery of the security or cash giving rise to the credit is reversed.

Appears in 1 contract

Samples: Us Domestic Custody Agreement (Smith Barney Travelers Series Fund Inc)

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Reversals. In some securities markets and cash clearing systems, deliveries of securities and cash may be reversed under certain circumstances. Accordingly, credits of securities Securities to a Securities Account and cash Cash to the Cash Account are provisional and subject to reversal if, in accordance with relevant local law and practice, the delivery of the security or cash giving rise to the credit is reversed.

Appears in 1 contract

Samples: Global Custody Agreement (Nations Annuity Trust)

Reversals. In some securities markets and cash clearing --------- systems, deliveries of securities and cash may be reversed under certain circumstances. Accordingly, credits of securities to a Securities Account and cash to the Cash Account are provisional and subject to reversal if, in accordance with relevant local law and practice, the delivery of the security or cash giving rise to the credit is reversed.

Appears in 1 contract

Samples: Global Custody Agreement (Delaware Pooled Trust Inc)

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