Common use of Separate Portfolio Assets Clause in Contracts

Separate Portfolio Assets. Client assets shall not be included in the bankruptcy or liquidation estate of any third party with which the assets are put into custody or the Company, nor may they be subject to enforcement in respect of claims against the third party and/or the Company. In the event of insolvency of the third party with which the portfolio assets are placed into custody, the Agreement between the Company and the custodian shall provide for the custodian to fully reimburse the Client if the Client's financial instruments cannot be recovered from third-party assets. The client shall not be entitled to reimbursement if the custodian places financial instruments in custody with the third party in accordance with the terms of the Agreement on Financial Instrument Custody or applicable legal regulations and subordinate legislation. The Company shall not be liable to the Client for the insolvency of the third party if the liability of the third party has been contracted in accordance with the applicable legal provisions and subordinate legislation governing the protection of client assets. The Company shall not be liable to the Client for the insolvency of the third party if it performed careful assessment of the third-party ability to regularly perform its asset custody obligations when entering into an agreement, and reassessed the choice of this third party, the arrangement entered into and the consequent risks within the time limit stipulated by law or subordinate legislation.

Separate Portfolio Assets. Client assets shall not be included in the bankruptcy or liquidation estate of any third party with which the assets are put into custody or the Company, nor may they be subject to enforcement in respect of claims against the third party and/or the Company. In the event of insolvency of the third party with which the portfolio assets are placed into custody, the Agreement between the Company and the custodian shall provide for the custodian to fully reimburse the Client if the Client's financial instruments cannot be recovered from third-third- party assets. The client shall not be entitled to reimbursement if the custodian places financial instruments in custody with the third party in accordance with the terms of the Agreement on Financial Instrument Custody or applicable legal regulations and subordinate legislation. The Company shall not be liable to the Client for the insolvency of the third party if the liability of the third party has been contracted in accordance with the applicable legal provisions and subordinate legislation governing the protection of client assets. The Company shall not be liable to the Client for the insolvency of the third party if it performed careful assessment of the third-party ability to regularly perform its asset custody obligations when entering into an agreement, and reassessed the choice of this third party, the arrangement entered into and the consequent risks within the time limit stipulated by law or subordinate legislation.

Separate Portfolio Assets. Client assets shall not be included in the bankruptcy or liquidation estate of any third party with which the assets are put into custody or the Company, nor may they be subject to enforcement in respect of claims against the third party and/or the Company. In the event of insolvency of the third party with which the portfolio assets are placed into custody, the Agreement between the Company and the custodian shall provide for the custodian to fully reimburse the Client if the Client's financial financial instruments cannot be recovered from third-party assets. The client shall not be entitled to reimbursement if the custodian places financial financial instruments in custody with the third party in accordance with the terms of the Agreement on Financial Instrument Custody or applicable legal regulations and subordinate legislation. The Company shall not be liable to the Client for the insolvency of the third party if the liability of the third party has been contracted in accordance with the applicable legal provisions and subordinate legislation governing the protection of client assets. The Company shall not be liable to the Client for the insolvency of the third party if it performed careful assessment of the third-party ability to regularly perform its asset custody obligations when entering into an agreement, and reassessed the choice of this third party, the arrangement entered into and the consequent risks within the time limit stipulated by law or subordinate legislation.