Services Related to the Monitoring of Cash Collateral. The Fund acknowledges that accepting cash collateral or cash in lieu from Authorized Participants in connection with Creation Unit activity entails a variety of risks (including market risk, counterparty risk and settlement risk), which the Fund retains notwithstanding the provision by the TA of services related to monitoring of cash collateral. The services provided by the TA are administrative and do not change the nature of the relationship between the Fund and any Authorized Participant. The Fund agrees that it bears all investment risk of any cash collateral posted by any Authorized Participant and agrees further to participate in (including entering into required documentation) the Custodian’s CMS program with respect to cash collateral. The TA shall have no obligation with respect to determining adequacy or sufficiency of collateral required or received other than calling cash collateral in accordance with the terms set forth in the Participant Agreement and Operational Procedures. The Fund agrees to cooperate with the TA with respect to resolutions of issues or exceptions as they may arise with respect to collateral posted by Authorized Participants and agrees instruct the TA as to any realization by the Fund upon cash collateral posted, including any measures to be taken by the Fund or Investment Advisor, for example, buying in, of securities or ETF shares. The TA shall perform the following specific services:
(a) Identify creation and redemption Creation Unit activity for which collateral is required, on a daily basis
(b) Calculate required collateral for creation and redemption on a daily basis in accordance with the collateral ratios set forth in the in Participant Agreements, utilizing a market price from a third party pricing source from the Trust’s accounting agent or any other source on which the TA reasonably relies
(c) Xxxx to market daily the value of such collateral positions using market prices from a third party pricing source from the Trust’s accounting agent or any other source on which the TA reasonably relies
(d) Communicate collateral requirements as determined in (b) and (c) to Authorized Participants as necessary
(e) Provide reporting as to open collateral positions and notify the Fund in the event of collateral delivered by Authorized Participants
(f) Establish Operational Procedures with the Fund and Authorized Participants (based upon the form provided by the TA) which set forth the detailed requirements in connection with t...
Services Related to the Monitoring of Cash Collateral. (a) Monitor the collateralization levels as set forth in Authorized Participant Agreements in connection with cash collateral posted by Authorized Participants in connection with Creation Basket activity.
(b) Mxxx to market daily the value of such cash collateral using a pricing source from the Fund’s accounting agent or any other source on which the TA reasonably relies.
(c) Monitor collateral levels daily and communicate calls for additional collateral to the Authorized Participants as necessary based upon daily collateral requirement calculations using ratios set forth in Participant Agreements.
Services Related to the Monitoring of Cash Collateral. (a) Monitor the collateralization levels as set forth in Authorized Participant Agreements in connection with cash collateral posted by Authorized Participants in connection with Creation Basket activity.
(b) Mark to market daily the value of such cash collateral using a pricing source from the Fund’s accounting agent or any other source on which the TA reasonably relies.
(c) Monitor collateral levels daily and communicate calls for additional collateral to the Authorized Participants as necessary based upon daily collateral requirement calculations using ratios set forth in Participant Agreements. In accordance with any custodian agreement, administration agreement, and/or any other agreement in which funds transfers are contemplated (as amended, restated, supplemented, modified, and otherwise in effect from time to time, each an “Agreement”, and collectively, the “Agreements”) between THE ADVISORS’ INNER CIRCLE FUND (including on behalf of each of its separate series listed on Exhibit A to the Custodian and ETF Transfer Agent Agreement) (“Client”), and BROWN BROTHERS XXXXXXXX & CO. and/or any of its affiliates (collectively, “BBH”), the Client acknowledges and accepts the following terms and conditions in respect of all funds transfers effected by BBH and BBH is willing to effect such funds transfers subject to the terms and conditions set forth in this FTSA. References to UCC 4A shall mean Article 4A of the Uniform Commercial Code as currently in effect in the State of New York. In consideration of the mutual covenants and agreements herein contained, the Client and BBH hereby agree, as follows:
Services Related to the Monitoring of Cash Collateral. (a) Monitor the collateralization levels as set forth in Authorized Participant Agreements in connection with cash collateral posted by Authorized Participants in connection with Creation Basket activity.
(b) Xxxx to market daily the value of such cash collateral using a pricing source from the Fund’s accounting agent or any other source on which the TA reasonably relies.
(c) Monitor collateral levels daily and communicate calls for additional collateral to the Authorized Participants as necessary based upon daily collateral requirement calculations using ratios set forth in Participant Agreements. Xxxxx Brothers Xxxxxxxx & Co. 000 Xxxxxxxx Xxx Xxxx, Xxx Xxxx 00000 Ladies and Gentlemen: Reference is made to a Custodian and Transfer Agent Agreement between the entities whose accounts are identified on Exhibit A (each such entity, a Client”) and Xxxxx Brothers Xxxxxxxx & Co. (“BBH”), dated [as of DATE] (the “Custodian Agreement). The undersigned investment adviser (the “Adviser”), on behalf of each Client, agrees to participate in the Xxxxx Brothers Xxxxxxxx & Co. Cash Management Services Sweep (“CMS Sweep”). The Adviser hereby instructs BBH to place, on each local business day (with respect to the applicable currencies, referred to herein as a “Business Day”), Client end-of-day demand deposit balances in the accounts and currencies identified in Exhibit A (“Excess Cash”) into overnight deposits (each, a “Deposit”) with one or more deposit institutions selected by the Adviser as set forth in Exhibit B, including BBH (the “Eligible Institutions”). Client acknowledges that BBH has other clients that participate in the CMS Sweep (together with Client, the “clients”) and that BBH can use the CMS Sweep to place BBH cash in Deposits. The Adviser hereby instructs BBH to debit Excess Cash from each Client’s cash account(s) at the end of each Business Day, place the Excess Cash in the Deposits of one or more Eligible Institutions, and then credit Client’s cash account(s) after receipt from the Eligible Institution(s) of the Excess Cash the following Business Day. With respect to each Eligible Institution, Excess Cash debited from each Client’s cash account(s) will be placed in a pooled deposit designated as a client deposit, and will be marked on the books of the Eligible Institution as “Deposit for BBH RIC Customers” or similar name indicating BBH is acting in its capacity as agent for such clients. BBH will use sub-accounting to identify the principal and amount of...
Services Related to the Monitoring of Cash Collateral. (a) Monitor the collateralization levels as set forth in Authorized Participant Agreements in connection with cash collateral posted by Authorized Participants in connection with Creation Basket activity.
(b) Xxxx to market daily the value of such cash collateral using a pricing source from the Fund’s accounting agent or any other source on which the TA reasonably relies.
(c) Monitor collateral levels daily and communicate calls for additional collateral to the Authorized Participants as necessary based upon daily collateral requirement calculations using ratios set forth in Participant Agreements. In accordance with any custodian agreement, administration agreement, and/or any other agreement in which funds transfers are contemplated (as amended, restated, supplemented, modified, and otherwise in effect from time to time, each an “Agreement”, and collectively, the “Agreements”) between ULTIMUS MANAGERS TRUST for itself and on behalf of and for the benefit of those separate series set forth on Schedule I (“Client”), and XXXXX BROTHERS XXXXXXXX & CO. and/or any of its affiliates (collectively, “BBH”), the Client acknowledges and accepts the following terms and conditions in respect of all funds transfers effected by BBH and BBH is willing to effect such funds transfers subject to the terms and conditions set forth in this FTSA. References to UCC 4A shall mean Article 4A of the Uniform Commercial Code as currently in effect in the State of New York. In consideration of the mutual covenants and agreements herein contained, the Client and BBH hereby agree, as follows:
Services Related to the Monitoring of Cash Collateral. (a) Monitor the collateralization levels as set forth in Authorized Participant Agreements in connection with cash collateral posted by Authorized Participants in connection with Creation Basket activity.
(b) Mxxx to market daily the value of such cash collateral using a pricing source from the Fund's accounting agent or any other source on which the TA reasonably relies.
(c) Monitor collateral levels daily and communicate calls for additional collateral to the Authorized Participants as necessary based upon daily collateral requirement calculations using ratios set forth in Participant Agreements. In accordance with Section 4.2 of the Custodian Agreement, the fund acknowledges the following terms and conditions in respect of all funds transfers effected by the Custodian References to UCC 4A shall mean Article 4A of the Uniform Commercial Code as currently in effect in the Stale of New York. Terms not otherwise defined herein shall have the meanings accorded to them in the Custodian Agreement.
Services Related to the Monitoring of Cash Collateral. (a) Monitor the collateralization levels as set forth in Authorized Participant Agreements in connection with cash collateral posted by Authorized Participants in connection with Creation Basket activity.
(b) Xxxx to market daily the value of such cash collateral using a pricing source from the Fund’s accounting agent or any other source on which the TA reasonably relies.
(c) Monitor collateral levels daily and communicate calls for additional collateral to the Authorized Participants as necessary based upon daily collateral requirement calculations using ratios set forth in Participant Agreements. This US MMF T&C supplements the Custodian Agreement between Metaurus Equity Component Trust (“Client”) and [ ] (“[ ]”) dated as of December , 2017, as amended from time to time (the “Custodian Agreement”), and provides terms and conditions related to Instructions to [ ] thereunder to process orders in and custody shares of U.S. registered investment companies that hold themselves out as money market funds (“MMFs”), if any. Capitalized terms used herein and not defined shall have the meanings ascribed to them in the Custodian Agreement. US MMFs are subject to various requirements under Rule 2a-7 under the Investment Company Act of 1940 (the “1940 Act”), as adopted by the Securities and Exchange Commission on July 23, 2014 (as further amended from time-to-time, “Rule 2a-7”). The MMFs will disclose in their prospectus and statement of additional information, as amended from time to time, that the MMFs are subject to certain limitations and restrictions pursuant to amendments to Rule 2a-7, including provisions relating to the calculation of net asset values (“NAVs”), imposition of liquidity fees on redemptions (“liquidity fees”) or the temporary suspension of redemptions (a “redemption gate”), and shareholder eligibility requirements. If Client provides [ ] with an Instruction to process orders for transactions in MMFs and/or requires [ ] to service shares of MMFs, Client shall assist and cooperate with [ ], the MMFs and the MMFs’ agents to comply with Rule 2a-7. Without limitation on the foregoing, fund order processing and custody of shares of MMFs are subject to the following additional terms and conditions.
