Common use of Settlement of Trades Clause in Contracts

Settlement of Trades. When Bank receives an Instruction directing settlement of a transaction in (i.e., purchase or sale of) Financial Assets that includes all information reasonably required by Bank, Bank will use reasonable care to effect such settlement as instructed. Settlement of transactions in Financial Assets will be conducted in accordance with prevailing standards of the market in which the transaction occurs for transactions by Institutional Clients. Notwithstanding applicable market standards, the Bank shall not deliver Financial Assets or payment in advance of receipt or settlement of the expected consideration unless instructed to do so by Customer. In the case of the failure of Customer's counterparty to deliver the expected consideration as agreed, Bank will contact the counterparty to seek settlement, but Bank will not be obligated to institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.

Settlement of Trades. When Bank receives an Instruction directing settlement of a transaction in (i.e., purchase or sale of) Financial Assets that includes all information reasonably required by Bank, Bank will use reasonable care to effect such settlement as instructed. Settlement of transactions in Financial Assets will be conducted in accordance with prevailing standards of the market in which the transaction occurs for transactions by Institutional Clientsoccurs. Notwithstanding applicable market standardsWithout limiting the generality of the foregoing, the risk of loss will be Customer’s whenever, at Customer’s direction, Bank shall not deliver delivers Financial Assets or payment in accordance with applicable market practice in advance of receipt or settlement of the expected consideration unless instructed to do so by Customerconsideration. In the case of the failure of Customer's ’s counterparty (or other appropriate party) to deliver the expected consideration as agreed, Bank will promptly notify Customer of the situation and contact the counterparty to seek settlementsettlement at the direction of the Customer, but Bank will not be obligated to institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.

Settlement of Trades. When Bank receives an Instruction directing settlement of a transaction in (i.e., purchase or sale of) Financial Assets that includes all information reasonably required by Bank, Bank will use reasonable care to effect such settlement as instructedinstructed and as described in Section 4 of the Service Level Document. Settlement of transactions in Financial Assets will be conducted in accordance a manner consistent with prevailing standards of the market in which the transaction occurs for transactions by Institutional Clientsoccurs. Notwithstanding applicable market standardsWithout limiting the generality of the foregoing, the risk of loss will be Customer’s whenever Bank shall not deliver delivers Financial Assets or payment in accordance with applicable market practice in advance of receipt or settlement of the expected consideration unless instructed to do so by Customerconsideration. In the case of the failure of Customer's ’s counterparty (or other appropriate party) to deliver the expected consideration as agreed, Bank will contact the counterparty to seek settlementsettlement and if settlement is not received, notify Customer, but Bank will not be obligated to institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.

Settlement of Trades. When Bank receives an Instruction directing settlement of a transaction in (i.e., purchase or sale of) Financial Assets that includes all information reasonably required by Bank, Bank will use reasonable care to effect such settlement as instructed. Settlement of transactions in Financial Assets will be conducted in accordance with prevailing standards of the market in which the transaction occurs for transactions by Institutional Clientsoccurs. Notwithstanding applicable market standardsWithout limiting the generality of the foregoing, the risk of loss will be Customer's whenever, at Customer's direction, Bank shall not deliver delivers Financial Assets or payment in accordance with applicable market practice in advance of receipt or settlement of the expected consideration unless instructed to do so by Customerconsideration. In the case of the failure of Customer's counterparty (or other appropriate party) to deliver the expected consideration as agreed, Bank will promptly notify Customer of the situation and contact the counterparty to seek settlementsettlement at the direction of the Customer, but Bank will not be obligated to institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.

Settlement of Trades. When Bank receives an Instruction directing settlement of a transaction in (i.e., purchase or sale of) Financial Assets that includes all information reasonably required by Bank, Bank will use reasonable care to effect such settlement as instructed. Settlement of transactions in Financial Assets will be conducted in accordance with prevailing standards of the market in which the transaction occurs for occursfor transactions by Institutional Clients. Notwithstanding applicable market standards, the Bank shall not deliver Financial Assets or payment in advance of receipt or settlement of the expected consideration unless considerationunless instructed to do so by Customer. In the case of the failure of Customer's ’s counterparty to deliver the expected consideration as agreed, Bank will contact the counterparty to seek settlement, but Bank will not be obligated to institute legal proceedings, file a proof of claim in any insolvency proceeding, or take any similar action.