Non-Custody Assets

Non-Custody Assets. Property as defined herein, which are not registered in Custodian's name or its nominee name and not under the control of Custodian, as indicated to Custodian in writing by Principal or Manager at the time of receipt or purchase of such Property and as accepted by Custodian, and which Custodian has agreed to report only for consolidated recordkeeping purposes and as an accommodation to the Principal.