Examples of Intermediary Custodian in a sentence
The Fund's purchases and sales of securities will be conducted according to those brokerage services offered by the Intermediary Custodian.
The Intermediary Custodian shall not be affiliated with the Fund.
The parties expressly acknowledge that U.S. Bank Trust is an Affiliate of U.S. Bank N.A. and consent to such Affiliates serving in the capacities of Trustee (U.S. Bank Trust), Securities Intermediary, Custodian, Backup Servicer, and Lockbox Bank (U.S. Bank N.A.), respectively.
The Intermediary Custodian shall provide promptly, upon request by the Fund, such reports as are available concerning internal accounting controls and financial strength of Intermediary Custodian.
Such moneys will be deposited by the Intermediary Custodian in its capacity as such, and shall be withdrawable by the Intermediary Custodian only in such capacity.
The Intermediary Custodian also has an obligation not to use this information for trading purposes.
The Intermediary Custodian shall exercise due care in accordance with reasonable commercial standards in discharging its duty as a securities intermediary to obtain and thereafter maintain such financial assets.
Due to the nature of the underlying investment not meeting the classification of a ‘financial product’ as defined by ASIC, there is no custodial requirement in operating the Fund.Despite this, the Funds assets will be safeguarded using a Proprietary Custodian System, which includes the use of a traditional Intermediary Custodian, separation of duties, additional back-up processes, multi- location storage and Vaulting Services.
The Intermediary Custodian also has an obliga- tion not to use this information for trading purposes.
Intermediary Custodian voting: for intermediary online subscribers only (Custodians), please submit your voting intentions at www.intermediaryonline.com.