Intermediary Custodian definition

Intermediary Custodian means any Subcustodian that is a Securities Intermediary and is qualified to act as a custodian.
Intermediary Custodian means any subcustodian that is a securities inter- mediary and is qualified to act as a custodian.
Intermediary Custodian means any subcustodian that is a securities intermediary and is qualified to act asa custodian.

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.

Related to Intermediary Custodian

  • Sub-Custodian means and include (i) any branch of a “U.S. bank,” as that term is defined in Rule 17f-5 under the 1940 Act, and (ii) any “Eligible Foreign Custodian” having a contract with the Custodian which the Custodian has determined will provide reasonable care of assets of the Fund based on the standards specified in Section 3.3 below. Such contract shall be in writing and shall include provisions that provide: (i) for indemnification or insurance arrangements (or any combination of the foregoing) such that the Fund will be adequately protected against the risk of loss of assets held in accordance with such contract; (ii) that the Foreign Securities will not be subject to any right, charge, security interest, lien or claim of any kind in favor of the Sub-Custodian or its creditors except a claim of payment for their safe custody or administration, in the case of cash deposits, liens or rights in favor of creditors of the Sub-Custodian arising under bankruptcy, insolvency, or similar laws; (iii) that beneficial ownership for the Foreign Securities will be freely transferable without the payment of money or value other than for safe custody or administration; (iv) that adequate records will be maintained identifying the assets as belonging to the Fund or as being held by a third party for the benefit of the Fund; (v) that the Fund’s independent public accountants will be given access to those records or confirmation of the contents of those records; and (vi) that the Fund will receive periodic reports with respect to the safekeeping of the Fund’s assets, including, but not limited to, notification of any transfer to or from a Fund's account or a third party account containing assets held for the benefit of the Fund. Such contract may contain, in lieu of any or all of the provisions specified in (i)-(vi) above, such other provisions that the Custodian determines will provide, in their entirety, the same or a greater level of care and protection for Fund assets as the specified provisions.

  • Custodian means any receiver, trustee, assignee, liquidator or similar official under any Bankruptcy Law.