Transfers to Brokerage Account Sample Clauses

Transfers to Brokerage Account. Notwithstanding anything in this Agreement to the contrary, but subject to the final sentence of this paragraph (a) of Section 4.2, the Trustee, pursuant to directions from the Company, shall transfer such assets of the Trust as may be directed by the Company to a master brokerage account (the “Brokerage Account”) under the subcustody of Xxxxxxx Xxxxxx & Co., Inc. (“Schwab”) which shall be used for establishment of individual brokerage accounts for participants and beneficiaries under the Plan and which shall be subdivided into such individual accounts. The assets held in the Brokerage Account shall be part of the Fund. The Trustee shall have no responsibility whatsoever in respect of the assets transferred to the Brokerage Account. Without limiting the generality of the foregoing sentence, the Trustee shall have no liability (whether in respect of the Brokerage Account or any individual account in the Brokerage Account) for (i) the negligence, willful misconduct, or breach of a standard of care (including without limitation the standard of care provided under Section 404 of ERISA) in respect of the Brokerage Account by any person holding, acting or failing to act with respect to the Brokerage Account, including without limitation Schwab, a recordkeeper or administrator of the Plan, or a participant or beneficiary; (ii) the failure of Schwab to act in accordance with the instructions of any person, including without limitation a recordkeeper or administrator of the Plan or a participant or beneficiary; (iii) any physical loss, destruction or damage to the assets in the Brokerage Account; (iv) any failure to diversify assets in the Brokerage Account or to keep any assets in the Brokerage Account fully invested; (v) any claim by a participant or beneficiary (or a legal representative of either) in respect of any act or’ omission by Schwab in respect of the Trust; (vi) any claim by a participant or beneficiary (or legal representative of either) based on a failure to comply with Section 404(c) of ERISA in respect of the Brokerage Account; (vii) any claim involving the transmissions of tender, proxy or similar materials in respect of such investments in the Brokerage Account, or any claim relating to voting in respect to such investments. To the extent that voting is required or permitted by participants or beneficiaries in respect of investments in the Brokerage Account (including without limitation proxy voting and voting on a tender offer or on a merger, co...
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Related to Transfers to Brokerage Account

  • Transfers to QIBs The following provisions shall apply with respect to the registration of any proposed transfer of a Note constituting a Restricted Security to a QIB (excluding transfers to Non-U.S. Persons):

  • Permitted Withdrawals and Transfers from the Distribution Account (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the Servicing Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement):

  • Withdrawals from the Collection Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.01:

  • Investment of Funds in the Collection Account and the Distribution Account (a) The Master Servicer may direct any depository institution maintaining the Collection Account (for purposes of this Section 3.12, an "Investment Account"), and the Trustee, in its individual capacity, may direct any depository institution maintaining the Distribution Account (for purposes of this Section 3.12, also an "Investment Account"), to invest the funds in such Investment Account in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee is the obligor thereon, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee is the obligor thereon. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee (in its capacity as such) or in the name of a nominee of the Trustee. The Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trustee shall:

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error.

  • Permitted Withdrawals from the Certificate Account and the Distribution Account (a) The Master Servicer may (and, in the case of clause (ix) below, shall) from time to time make withdrawals from the Certificate Account for the following purposes but only to the extent of amounts related to the Combined Mortgage Loans or the Group 5 Mortgage Loans, as applicable to the particular withdrawal:

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

  • Transfers to Affiliates Notwithstanding the provisions of Section 7.1, a Partner may, without the consent of the other Partner, Transfer all or a portion of its Interest to an Affiliate of such Partner, so long as such Affiliate is admitted to the Partnership as a Partner pursuant to Section 7.3, and provided further that such Affiliate is not a Benefit Plan Investor.

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

  • Transfers to Non-U.S. Persons The following provisions shall apply with respect to any transfer of a Restricted Security to a Non-U.S. Person under Regulation S:

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