Examples of Fiduciary Placement in a sentence
Each such Fiduciary Placement shall be placed in our name but for and on your behalf and at your sole risk and expense.
The Bank shall, in its absolute discretion, determine the Third Party Institution with which it will place the Fiduciary Placement.
The Fiduciary Placement and/or the repayment of the same is subject to the rules, terms and conditions of the Third Party Institution with which such Fiduciary Placement is placed (which rules, terms and conditions may, from time to time, in the absolute discretion of the Third Party Institution, be changed without prior notice (whether oral or otherwise) to or approval of the Bank or the Client) and subject to the Applicable Laws of the jurisdiction where the Fiduciary Placement is made.
The Client may, from time to time, give Instructions to the Bank in respect of the placement and/or renewal of the Fiduciary Placement provided that the Bank shall be under no obligation to act on any such Instruction unless the same is received not less than three (3) Bank Business Days prior to the date of placement and/or renewal.
The Bank shall place the Fiduciary Placement in its own name but for and on behalf of the Client and at the sole risk and expense of the Client.
The Bank may, for the purpose of complying with the rules, terms and conditions of the Third Party Institution or for any other reason, from time to time delete, replace, add or change the terms and conditions of the Fiduciary Placement Service without prior notice (whether oral or otherwise) to or approval from the Client.
Any Fiduciary Placement renewed by the Bank prior to its receipt of any Instruction from the Client to the contrary shall be binding on the Client.
If the Client fails to give Instructions to the Bank for the renewal of any Fiduciary Placement, the Bank is hereby authorised (but not obliged) to renew such Fiduciary Placement on the same terms and conditions and for the same tenor applicable thereto immediately prior to such renewal or on such other terms and conditions and for such tenor as the Bank may in its absolute discretion deem appropriate.
Save as aforesaid, the Bank shall not be liable to repay the Fiduciary Placement or any amount otherwise accruing thereto to the Client.
The Bank may comply with the Client’s request to place the Fiduciary Placement with a particular Third Party Institution provided that the Bank shall not be liable in any manner whatsoever for complying with such request and the Client agrees to fully indemnify the Bank against any Loss incurred or arising therefrom.