Common use of Eligible Accounts/Characterization of Accounts Clause in Contracts

Eligible Accounts/Characterization of Accounts. The Borrowers and Agent shall maintain each Account (other than the Deposit Account) as an Eligible Account. Each Account (other than the Deposit Account) is and shall be treated as a "SECURITIES ACCOUNT" as such term is defined in Section 8-501(a) of the UCC. Agent hereby agrees that each item of property (whether investment property, financial asset, securities, securities entitlement, instrument, cash or other property) credited to each Account shall be treated as a "FINANCIAL ASSET" within the meaning of Section 8-102(a)(9) of the UCC. Agent shall, subject to the terms of this Agreement, treat Lender as entitled to exercise the rights that comprise any financial asset credited to each Account. All securities or other property underlying any financial assets credited to each Account (other than cash) shall be registered in the name of Agent, indorsed to Agent or in blank or credited to another securities account maintained in the name of Agent and in no case will any financial asset credited to any Account be registered in the name of any Borrower, payable to the order of any Borrower or specially indorsed to any Borrower.

Eligible Accounts/Characterization of Accounts. The Borrowers and Agent Each Account shall maintain each Account (other than the Deposit Account) as be an Eligible Account. Each Account (other than the Deposit Account, which shall be a non-interest bearing demand deposit account) is and shall be treated as a "SECURITIES ACCOUNT" “securities account” as such term is defined in Section 8-501(a) of the UCC. Agent hereby agrees that each item of property (whether investment property, financial asset, securities, securities entitlement, instrument, cash or other property) credited to each Account shall be treated as a "FINANCIAL ASSET" “financial asset” within the meaning of Section 8-102(a)(9) of the UCC. Agent shall, subject to the terms of this Agreement, treat Lender as entitled to exercise the rights that comprise any financial asset credited to each Account. All securities or other property underlying any financial assets credited to each Account (other than cash) shall be registered in the name of Agent, indorsed endorsed to Agent or in blank or credited to another securities account maintained in the name of Agent and in no case will any financial asset credited to any Account be registered in the name of any Borrowerthe Borrowers, payable to the order of any Borrower the Borrowers or specially indorsed endorsed to any Borrowerthe Borrowers.

Eligible Accounts/Characterization of Accounts. The Borrowers and Agent Each Account shall maintain each Account (other than the Deposit Account) as be an Eligible Account. Each Account (other than the Deposit Account, which shall be a non-interest bearing demand deposit account) is and shall be treated as a "SECURITIES ACCOUNT" “securities account” as such term is defined in Section 8-501(a) of the UCC. Agent hereby agrees that each item of property (whether investment property, financial asset, securities, securities entitlement, instrument, cash or other property) credited to each Account (other than the Deposit Account) shall be treated as a "FINANCIAL ASSET" “financial asset” within the meaning of Section 8-102(a)(9) of the UCC. Agent shall, subject to the terms of this Agreement, treat Lender as entitled to exercise the rights that comprise any financial asset credited to each Account (other than the Deposit Account). All securities or other property underlying any financial assets credited to each such Account (other than cash) shall be registered in the name of Agent, indorsed endorsed to Agent or in blank or credited to another securities account maintained in the name of Agent and in no case will any financial asset credited to any Account be registered in the name of any Borrowerthe Borrowers, payable to the order of any Borrower the Borrowers or specially indorsed endorsed to any Borrowerthe Borrowers.