Included Account definition
Examples of Included Account in a sentence
This Agreement, including the Schedules, any Appendix, and Exhibits (and any separate agreement which the Custodian and Customer may enter into with respect to any Included Account), sets out the entire Agreement between the parties in connection with the subject matter, and this Agreement supersedes any other agreement, statement, or representation relating to custody, whether oral or written.
If a debit to any currency in the Custodial Account results (or will result) in a debit balance, then the Custodian may, in its discretion, (i) refuse to settle in whole or in part the transaction causing such debit balance or (ii) if any such transaction is posted to any Included Account, reverse any such posting.
Subject to restrictions under Applicable Law, the Custodian also will obtain an undertaking to permit the Collateral Agent and Customer's independent public accountants, reasonable access to the records of any Subcustodian of Securities held in each Included Account as may be required in connection with such examination.
No prior action or course of dealing on the Custodian's part with respect to the settlement of transactions on Customer's behalf will be asserted by Customer against the Custodian for the Custodian's refusal to make advances to any Included Account or to settle any transaction for which Customer does not have sufficient available funds in the applicable currency in the Custodial Account.
Nevertheless, under no circumstances will the Custodian be liable for any indirect, incidental, consequential or special damages (including, without limitation, lost profits) of any form incurred by any person or entity, whether or not foreseeable and regardless of the type of action in which such a claim may be brought, with respect to any Included Account, the Custodian's performance hereunder, or the Custodian's role as custodian.
With respect to any sale or purchase transaction that is not posted to an Included Account on the contractual settlement date as referred to in Section 2.6, the Custodian will post the transaction on the date on which the Cash or Financial Assets received as consideration for the transaction is actually received by the Custodian.
Additionally, the Custodian will send Customer and the Collateral Agent an advice or notification of any transfers of Cash or Financial Assets with respect to each Included Account.