Bank’s Right Over Securities; Set-off. To the extent Bank has advanced any of its funds on Customer’s behalf in connection with the settlement of purchases and sales of Financial Assets for the Securities Account Bank shall have a security interest in the Financial Assets which are the subject of such purchase or sale, until Bank has been repaid the amount of such advance by Customer and Bank’s security interest in such Financial Assets shall be released upon Customer’s repayment of such advance to Bank.
Appears in 6 contracts
Samples: Domestic Custody Agreement (Tiaa Cref Life Separate Account Va-1), Domestic Custody Agreement (Tiaa-Cref Life Separate Account Vli-1), Domestic Custody Agreement (Tiaa-Cref Life Separate Account Vli-1)
