Examples of Foreign Custody Manager in a sentence
Upon reasonable prior written notice to the Client, the Foreign Custody Manager may withdraw its acceptance of such delegated responsibilities generally or with respect to a specified Covered Foreign Country, and the Custodian will have no further responsibility in its capacity as Foreign Custody Manager to the Client generally or with respect to the designated Covered Foreign Country, as applicable.
The Foreign Custody Manager may amend the list from time to time in its sole discretion upon notice to the Client.
The Client, by resolution of its Board, delegates to the Custodian, pursuant to Rule 17f-5(b), the obligations to perform as the Client’s Foreign Custody Manager and, unless the Custodian advises the Customer that it does not accept such delegation with respect to a country the Custodian accepts such delegation.
Client represents to the Custodian that its Board has (i) determined that it is reasonable for the Board to rely on the Custodian to perform the responsibilities delegated pursuant to this Agreement to the Custodian as the Foreign Custody Manager of the Client, and (ii) considered and determined to accept the risk as is incurred by placing and maintaining the Client’s Foreign Assets in each Covered Foreign Country.
The Foreign Custody Manager will notify the Client if it determines that the custody arrangements with an Eligible Foreign Custodian are no longer appropriate, including if such arrangements have ceased to meet the requirements of Rule 17f-5 under the 1940 Act, and will act in accordance with the Client’s Proper Instructions with respect to the disposition of the affected Foreign Assets.