Additional Depositor Representation. It is the express intent of the parties hereto that the conveyance of the Underlying Securities by the Depositor to the Trustee be, and be construed as, a sale of the Underlying Securities by the Depositor and not a pledge of any Underlying Securities by the Depositor to secure a debt or other obligation of the Depositor. In the event that, notwithstanding the aforementioned intent of the parties, any Underlying Securities are held to be property of the Depositor, then, it is the express intent of the parties that such conveyance be deemed a pledge of such Underlying Securities and all proceeds thereof by the Depositor to the Trustee to secure a debt or other obligation of the Depositor, pursuant to Section 10.07 of the Standard Terms. In connection with any such grant of a security interest in the Underlying Securities and all proceeds thereof (including any such grant in connection with any sale of additional Underlying Securities pursuant to Section 3(d)), the Depositor hereby represents and warrants to Trustee as follows:
Appears in 45 contracts
Samples: Warrant Agent Agreement (Lehman Abs Corp Goldman Sachs Note-Bk Ser 2003-12), Warrant Agent Agreement (Lehman Abs Corp Boeing Securities Back Ser 2003 16 Class a 1), Warrant Agent Agreement (Lehman Abs Daimlerchrysler Deb-BKD Ser 2003-15)
