Common use of Actions With Respect to Securities Clause in Contracts

Actions With Respect to Securities. Pledgor shall cause the Securities to be credited to Intermediary’s Participant’s Securities Account maintained at the Federal Reserve Bank at which Intermediary maintains a Participant’s Securities Account, and to be identified on the records of such Federal Reserve Bank as being held for the sole and exclusive account of Intermediary. Pledgor does hereby (i) direct the Intermediary to credit by book-entry such Securities to the Securities Account of Pledgee and hold the same for the sole and exclusive account of Pledgee for the benefit of Pledgee and (ii) direct the Intermediary to send a written confirmation to Pledgee that Intermediary has so credited the Securities to such Securities Account and is holding the Securities for the sole and exclusive account of Pledgee for the benefit of Pledgee. Pledgor hereby agrees that Intermediary is the Securities Intermediary at which the Securities Account of Pledgee and the Pledged Collateral Account are maintained. Pledgor hereby directs Intermediary to comply with all Entitlement Orders of Pledgee with respect to the Pledged Collateral.

Appears in 2 contracts

Samples: Defeasance Pledge and Security Agreement (Winston Hotels Inc), Defeasance Pledge and Security Agreement (First Potomac Realty Trust)

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Actions With Respect to Securities. Pledgor shall cause the Securities to be credited to Intermediary’s Participant’s Securities Account maintained at the Federal Reserve Bank at which Intermediary maintains a Participant’s Securities Account, and to be identified on the records of such Federal Reserve Bank as being held for the sole and exclusive account of Intermediary. Pledgor does hereby (i) direct the Intermediary to credit by book-entry such Securities to the Securities Account of Pledgee and hold the same for the sole and exclusive account of Pledgee for the benefit of Pledgee and (ii) direct the Intermediary to send a written confirmation to Pledgee that Intermediary has so credited the Securities to such Securities Account and is holding the Securities for the sole and exclusive account of Pledgee for the benefit of Pledgee. Pledgor hereby agrees that Intermediary is the Securities Intermediary at which the Securities Account of Pledgee and the Pledged Collateral Account are maintained. Pledgor hereby directs Intermediary to comply with all Entitlement Orders of Pledgee with respect to the Pledged Collateral.

Appears in 1 contract

Samples: Defeasance Pledge and Security Agreement (Casa Munras Hotel Partners L P)

Actions With Respect to Securities. Pledgor Original Borrower shall cause the Securities to be credited to Intermediary’s Participant’s Securities Account maintained at the Federal Reserve Bank at which Intermediary maintains a Participant’s Securities Account, and to be identified on the records of such Federal Reserve Bank as being held for the sole and exclusive account of Intermediary. Pledgor Original Borrower does hereby (i1) direct the Intermediary to credit by book-entry such Securities to the Securities Pledged Collateral Account of Pledgee Lender and hold the same for the sole and exclusive account of Pledgee Lender for the benefit of Pledgee Lender, and (ii2) direct the Intermediary to send a written confirmation to Pledgee Lender that Intermediary has so credited the Securities to such Securities Pledged Collateral Account and is holding the Securities for the sole and exclusive account of Pledgee Lender for the benefit of PledgeeLender in accordance with the terms of this Agreement. Pledgor Original Borrower hereby agrees that Intermediary is the Securities Intermediary at which the Securities Account of Pledgee and the Pledged Collateral Account are of Lender is maintained. Pledgor Original Borrower hereby directs Intermediary to comply with all Entitlement Orders of Pledgee Lender with respect to the Pledged Collateral.

Appears in 1 contract

Samples: Defeasance Pledge and Security Agreement (Ionis Pharmaceuticals Inc)

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Actions With Respect to Securities. Pledgor Borrower shall cause the Securities to be credited to Intermediary’s 's Participant’s 's Securities Account maintained at the Federal Reserve Bank at which Intermediary maintains a Participant’s 's Securities Account, and to be identified on the records of such Federal Reserve Bank as being held for the sole and exclusive account of Intermediary. Pledgor Borrower does hereby (i) direct the Intermediary to credit by book-entry such Securities to the Securities Pledged Collateral Account of Pledgee and hold the same for the sole and exclusive account of Pledgee for Lender pursuant to the benefit of Pledgee Defeasance Documents, and (ii) direct the Intermediary to send a written confirmation to Pledgee Lender that Intermediary has so credited the Securities to such Securities Pledged Collateral Account and is holding the Securities for the sole and exclusive account of Pledgee for Lender in accordance with the benefit terms of Pledgeethe Defeasance Documents. Pledgor Borrower hereby agrees that Intermediary is the Securities Intermediary at which the Securities Account of Pledgee and the Pledged Collateral Account are of Lender is maintained. Pledgor Borrower hereby directs Intermediary to comply with all Entitlement Orders of Pledgee Lender with respect to the Pledged Collateral.

Appears in 1 contract

Samples: Defeasance Pledge and Security Agreement (Glimcher Realty Trust)

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