My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
THE BANK OF NEW YORK MELLON -2012
Clerk
>
Contracts / Agreements
>
T
>
THE BANK OF NEW YORK MELLON -2012
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
4/23/2012 3:21:29 PM
Creation date
4/23/2012 3:21:26 PM
Metadata
Fields
Template:
Contracts
Company Name
THE BANK OF NEW YORK MELLON
Contract #
N-2012-045
Agency
FINANCE & MANAGEMENT SERVICES
Destruction Year
0
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
12
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
-2- <br />(a) Customer is duly organized and existing under the laws of the jurisdiction of its organization, with full power to <br />carry on its business as now conducted, to enter into this Agreement and [o perform its obligations hereunder; <br />(b) This Agreement has been duly authorized, executed and delivered by Customer, constitutes a valid and legally <br />binding obligation of Customer, enforceable in accordance with its terms, and no statute, regulation, rule, order, judgment or contract <br />binding on Customer prohibits Customer's execution or performance of this Agreement; and <br />(c) Either Customer owns the U.S. Securities in the Account free and clear of all liens, claims, security interests and <br />encumbrances (except those granted herein) or, if the U.S. Securities are owned beneficially by others, Customer has the right to <br />pledge such U.S. Securities to the extent necessary to secure Customer's obligations hereunder, free of any right of redemption or prior <br />claim by the beneficial owner. Custodian's security interest pursuant to Article V hereof shall be a first lien and security interest <br />subject to no setoffs, counterclaims or other liens prior to or on a parity with it in favor of any other party (other than specific liens <br />granted preferred status by statute), and Customer shall take any and all additional steps which are required [o assure Custodian of <br />such priority and status, including notifying third parties or obtaining their consent to, Custodian s security interest. <br />ARTICLE III <br />CUSTODY AND RELATED SERVICES <br />1. Subject to the terms hereof, Customer hereby authorizes Custodian [o hold any Securities received by it from time to <br />time for Customer's account. Custodian shall be entitled to utilize the Book Entry System and Depositories to the extent possible in <br />connection with its performance hereunder. Securities and cash deposited by Custodian in the Book-Entry System or a Depository will <br />be held subject [o the rules, terms and conditions of the Book-Entry System or such Depository. Custodian shall identify on its books <br />and records the U.S. Securities and cash belonging to Customer, whether held directly or indirectly through the Book-Entry System or <br />a Depository. U.S. Securities and cash of Customer deposited in the Book Entry System or a Depository will be represented in <br />accounts which include only assets held by Custodian for its customers. <br />2. Custodian shall furnish Customer with a monthly summary of all account transfers and activity. Customer hereby <br />waives the right [o receive hard copy written transaction advices. The forgoing waiver may be rescinded a[ any time in writing to the <br />Custodian. Customer may elect to receive advices, confirmations, reports or statements electronically through the Internet. By <br />electing to use the Internet for this purpose, Customer acknowledges that such transmissions are not encrypted and therefore are <br />insecure. Customer further acknowledges that there are other risks inherent in communicating through the Internet such as the <br />possibility of virus contamination and disruptions in service, and agrees that Custodian shall not be responsible for any loss, damage <br />or expense suffered or incurred by Customer or any person claiming by or through Customer as a result of the use of such methods. <br />With respect to all U.S. Securities held in the Account, Custodian shall, unless otherwise instructed to the contrary: <br />(a) Receive all income and other payments and advise Customer as promptly as practicable of any such amounts due <br />but not paid; <br />(b) Present for payment and receive the amount paid upon all U.S. Securities which may mature and advise Customer as <br />promptly as practicable of any such amounts due but not paid; <br />(c) Forward to Customer all information or documents [hat it may receive from an issuer of U.S. Securities which, in <br />the opinion of Custodian, are intended for the beneficial owner of U.S. Securities; <br />(d) Execute, as custodian, any certificates of ownership, affidavits, declarations or other certificates under any tax laws <br />now or hereafter in effect in connection with the collection of bond and note coupons; <br />(e) Hold directly, or through the Book Entry System or a Depository, all rights and similar U.S. Securities issued with <br />respect to any U.S. Securities credited to the Account hereunder; and <br />(f) Endorse for collection checks, drafts or other negotiable instruments. <br />4. (a) Custodian shall notify Customer of such rights or discretionary actions or of the date or dates by when such <br />rights must be exercised or such action must be taken provided that Custodian has received, from the issuer or the relevant Depository, <br />timely notice of such rights or discretionary corporate action or of the date or dates such rights must be exercised or such action must <br />be taken. Communication shall be delivered by Inform, S.W.I.F.T., tested telex, letter, email, facsimile transmission, or other method
The URL can be used to link to this page
Your browser does not support the video tag.