Rule l7f-5 definition
Examples of Rule l7f-5 in a sentence
The Fund, by resolution adopted by its Board of Trustees/Directors (the "Board"), hereby delegates to the Custodian, subject to Section (b) of Rule l7f-5, the responsibilities set forth in this Section 3.2 with respect to Foreign Assets of the Funds and/or Portfolios held outside the United States, and the Custodian hereby accepts such delegation as Foreign Custody Manager with respect to the Funds and/or Portfolios.
The Custodian shall limit the securities and other assets maintained in the custody of the foreign sub-custodians to: (a) "foreign securities", as defined in paragraph (c)(1) of Rule l7f-5 under the Investment Company Act of 1940, and (b) cash and cash equivalents in such amounts as the Custodian or the Fund may determine to be reasonably necessary to effect the Fund's foreign securities transactions.
Such reporting will include the appropriateness of maintaining the Fund’s Assets with a particular custodian under paragraph (c)(1) of Rule 17f-5 and the performance of the contract under paragraph (c)(2) of Rule l7f-5.
The Custodian shall limit the securities and other assets maintained in the custody of its foreign branches, foreign custodians and foreign securities depositories to: (i) "foreign securities", as defined in paragraph (c) (l) of Rule l7f-5 under the Investment Company Act, and (ii) cash and cash equivalents in such amounts as the Custodian or the Fund may determine to be reasonably necessary to effect the Fund's foreign securities transactions.
In the event that Delegate in the future shall generally as a matter of its conduct of business offer additional or different services with respect to performing delegated duties under Rule l7f-5 with respect to Compulsory Securities Depositories or OTHERWISE, IT SHALL PROMPTLY OFFER SUCH SERVICES TO THE Company on its usual business terms.
Any selection of and form of contract with a Foreign Custodian shall be subject to approval by the Trust that such selection and contract are consistent with the requirements of Rule l7f-5 (and Rule 17f-4, if applicable) under the 1940 Act, and the Custodian shall provide the Trust with such information and recommendations as may be reasonably necessary as a basis for such approval.
The Bank shall advise the Fund promptly if it learns that any foreign agent or subcustodian no longer constitutes an "eligible foreign custodian" and of any failure by any Selected Foreign Sub-Custodian to observe any "material term" of its appointment within the meaning of Rule l7f-5 under the 1940 Act.
The Bank shall furnish to the Fund information made available to it by Euroclear concerning the Euroclear system for use by the Fund in evaluating such system to ensure compliance with the requirements of Rule l7f-5 of the Act.
The Fund, by resolution adopted by its Board, hereby delegates to the Custodian, subject to Section (b) of Rule l7f-5, the responsibilities set forth in the attached l7f-5 Delegation Schedule to this Agreement with respect to Investments of the Fund held outside of the United States, and the Custodian hereby accepts such delegation with respect to the Fund.
All such assets shall be held by the custodian or sub-custodian appointed by the Directors or by a Fund's "Foreign Custody Manager" (as defined by Rule l7f-5 under the 1940 Act).