Additions and Substitutions of Collateral Sample Clauses

Additions and Substitutions of Collateral. The Escrow Agent will not release any collateral securities or proceeds of maturing securities, nor accept any substitution thereof, without written authorization from the Public Depositor. The Depository may, from time to time, transfer to and deposit with the Escrow Agent additional Eligible Securities, to be held by the Escrow Agent pursuant to the terms of the Security Agreement and 20 NCAC 07; provided written authorization from the Public Depositor is received. Upon transfer or purchase thereof by the Escrow Agent, such additional Eligible Securities shall be subject in all respects to the terms of this Agreement, the Security Agreement and 20 NCAC 07; and the word Collateral, as used in this Agreement, shall include such additional Eligible Securities.
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Additions and Substitutions of Collateral. The Public Depository may, from time to time, transfer to and deposit with the Custodian additional Eligible Collateral or moneys for the purchase of additional Eligible Collateral, to be held by the Custodian pursuant to the terms of this Agreement; provided, however, that if in its sole discretion the Custodian deems the same necessary or convenient, the Public Depository and the Custodian shall first have entered into an amendment to this Agreement describing additional or different terms subject to which the Custodian will receive, hold and dispose of such additional Eligible Collateral. Except as otherwise provided in an amendment to this Agreement, upon transfer or purchase thereof by the Custodian, such additional Eligible Collateral shall be subject in all respects to the terms of this Agreement, and the word "Collateral" as used in this Agreement shall include such additional Eligible Collateral. If Collateral is purchased by the Custodian with moneys provided by the Public Depository, including moneys designated for such purpose pursuant to Section 2 hereof, such purchase of Collateral shall be at the written direction of the Public Depository, specifically identifying the Collateral to be purchased.
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Additions and Substitutions of Collateral. The Public Depository may, from time to time, transfer to and deposit with the Custodian additional Eligible Collateral or moneys for the purchase of additional Eligible Collateral, to be held by the Custodian pursuant to the terms of this Agreement; provided, however, that if in its sole discretion the Custodian deems the same necessary or convenient, the Public Depository and the Custodian shall first have entered into an amendment to this Agreement describing additional or different terms subject to which the Custodian will receive, hold and dispose of such additional Eligible Collateral. Except as otherwise provided in an amendment to this Agreement, upon transfer or purchase thereof by the Custodian, such additional Eligible Collateral shall be subject in all respects to the terms of this Agreement, and the word "Collateral" as used in this Agreement shall include such additional Eligible Collateral. If Collateral is purchased by the Custodian with moneys provided by the Public Depository, including moneys designated for such purpose pursuant to Section 2 hereof, such purchase of Collateral shall be at the written direction of the Public Depository, specifically identifying the Collateral to be purchased. Public Depository's Transfer Certificate. Each transfer of Collateral or money for the purchase of Collateral, including the initial transfer of Collateral under this Agreement, shall be accompanied by a certificate of the Public Depository stating, as applicable, the par value or original face amount, current par value, interest rate, CUSIP number, maturity date, market value and security rating of the Collateral transferred or to be purchased. The certificate shall also contain a description of the Collateral and shall state that the Collateral is being transferred to [name of financial institution acting as custodian], as Custodian, pursuant to this Agreement. Sale or Disposition of the Collateral; Recoveries of Moneys With Respect to the Collateral. The Custodian shall not sell or otherwise dispose of the Collateral prior to its maturity. Notwithstanding the foregoing, the Custodian shall, if and as directed in writing by the Public Depository, transfer to the Public Depository, sell or otherwise dispose of any or all of the Collateral. The Custodian shall pay to the Public Depository the proceeds, if any, of any such sale or other disposition of the Collateral. The Custodian shall promptly pay to the Public Depository all other moneys, other tha...
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