Common use of Establishment of Collateral Account Clause in Contracts

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1) the Securities Intermediary has established the Collateral Account; (2) the Collateral Account is a securities account; (3) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account; (5) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, or in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 12 contracts

Samples: Pledge Agreement (American Electric Power Co Inc), Pledge Agreement (American Electric Power Co Inc), Pledge Agreement (PPL Capital Funding Inc)

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Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1) the Securities Intermediary has established the Collateral Account; (2) the Collateral Account is a securities account; (3) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account; (5) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, Intermediary or in blank blank, or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 5 contracts

Samples: Pledge Agreement (Valero Energy Corp/Tx), Pledge Agreement (CMS Energy Corp), Pledge Agreement (PPL Corp)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1) the Securities Intermediary has established the Collateral Account; (2) the Collateral Account is a securities account; (3) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement or the Indenture will be credited promptly to the Collateral Account;; and (5) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, or in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 5 contracts

Samples: Pledge Agreement (Dominion Resources Capital Trust Iv), Pledge Agreement (Dominion Resources Inc /Va/), Pledge Agreement (Dominion Resources Inc /Va/)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1a) the Securities Intermediary has established the Collateral Account; (2b) the Collateral Account is a securities account; (3c) subject to the terms of this Agreement, the Securities Intermediary shall treat identify in its records the Purchase Contract Collateral Agent as the entitlement holder entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4d) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account;; and (5e) all securities or other property underlying any financial assets credited to the Collateral Account shall be (i) registered in the name of the Securities Intermediary, Purchase Contract Agent and indorsed to the Securities Intermediary, Collateral Agent or in blank blank, (ii) registered in the name of the Collateral Agent or (iii) credited to another securities account maintained in the name of the Securities IntermediaryCollateral Agent. The Collateral Agent may, and at any time or from time to time, in its sole discretion, cause any or all securities or other property underlying any financial assets credited to the Collateral Account not registered in its name to be so registered in its name. In no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 4 contracts

Samples: Pledge Agreement (Phoenix Companies Inc/De), Pledge Agreement (Hartford Financial Services Group Inc/De), Pledge Agreement (Hartford Financial Services Group Inc/De)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1a) the Securities Intermediary has established the Collateral Account; (2b) the Collateral Account is a securities account; (3c) subject to the terms of this Agreement, the Securities Intermediary shall treat identify in its records the Purchase Contract Agent as the entitlement holder entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4d) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account; (5e) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, Intermediary or in blank blank, or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 4 contracts

Samples: Pledge Agreement (El Paso Capital Trust Ii), Pledge Agreement (Cinergy Corp), Pledge Agreement (Cc Funding Trust Ii)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: that (1a) the Securities Intermediary has established the Collateral Account; , (2b) the Collateral Account is a securities account; , (3c) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; , (4d) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account; Account and (5e) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, or in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 3 contracts

Samples: Pledge Agreement (Bank United Corp), Pledge Agreement (Bank United Corp), Pledge Agreement (Washington Mutual Inc)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1) the Securities Intermediary has established the Collateral Account; (2) the Collateral Account is a securities account; (3) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Warrant Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Warrant Agreement will be credited promptly to the Collateral Account; (5) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, Intermediary or in blank blank, or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Warrant Agent or any Holder, payable to the order of the Purchase Contract Warrant Agent or any Holder or specially indorsed to the Purchase Contract Warrant Agent or any Holder.

Appears in 2 contracts

Samples: Pledge Agreement (Citizens Communications Co), Pledge Agreement (Citizens Communications Co)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: that (1a) the Securities Intermediary has established the Collateral Account; , (2b) the Collateral Account is a securities account; , (3c) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; , (4d) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement or the Indenture will be credited promptly to the Collateral Account; Account and (5e) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, or in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 1 contract

Samples: Pledge Agreement (Nisource Inc)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: that (1a) the Securities Intermediary has established the Collateral Account; , (2b) the Collateral Account is a securities account; , (3c) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; , (4d) all property delivered to the Securities Intermediary pursuant to this Agreement Pledge or the Purchase Contract Agreement or the Indenture will be credited promptly to the Collateral Account; Account and (5e) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, Intermediary or in blank or credited to another securities account maintained in the name of the Securities Intermediary, Intermediary and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 1 contract

Samples: Pledge Agreement (Nipsco Industries Inc)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1) the Securities Intermediary has established the Collateral Account; (2) the Collateral Account is a securities account; (3) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4) all property delivered to the Securities Intermediary pursuant to under this Agreement or the Purchase Contract Agreement or the Indenture will be credited promptly to the Collateral Account;; and (5) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, or in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 1 contract

Samples: Pledge Agreement (Dominion Resources Capital Trust Iv)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1a) the Securities Intermediary has established the Collateral Account; (2b) the Collateral Account is a securities account; (3c) subject to the terms of this Agreement, the Securities Intermediary shall treat identify in its records the Purchase Contract Collateral Agent as the entitlement holder entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4d) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account;; and (5e) all securities or other property underlying any financial assets credited to the Collateral Account shall be (1) registered in the name of Cede & Co., as nominee for DTC, and endorsed to the Collateral Agent or in blank, (2) registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, Collateral Agent or in blank or (3) credited to another securities account maintained in the name of the Securities IntermediaryCollateral Agent. The Collateral Agent may, and at any time or from time to time, in its sole discretion, cause any or all securities or other property underlying any financial assets credited to the Collateral Account not registered in its name to be so registered in its name. In no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed endorsed to the Purchase Contract Agent or any Holder.

Appears in 1 contract

Samples: Pledge Agreement (Teekay Shipping Corp)

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Establishment of Collateral Account. The Securities Intermediary hereby confirms that: that (1a) the Securities Intermediary has established the Collateral Account; , (2b) the Collateral Account is a securities account; , (3c) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; , (4d) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account; Account and (5e) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed endorsed to the Securities Intermediary, or in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed endorsed to the Purchase Contract Agent or any Holder.

Appears in 1 contract

Samples: Pledge Agreement (Dominion Resources Inc /Va/)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1a) the Securities Intermediary has established the Collateral Account; (2b) the Collateral Account is a securities account; (3c) subject to the terms of this Agreement, the Securities Intermediary shall treat identify in its records the Purchase Contract Collateral Agent as the entitlement holder entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4d) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account; (5e) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities IntermediaryCollateral Agent, indorsed to the Securities Intermediary, Collateral Account or in blank blank, or credited to another securities account maintained in the name of the Securities IntermediaryCollateral Account, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 1 contract

Samples: Pledge Agreement (Williams Companies Inc)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1) the Securities Intermediary has established the Collateral Account; (2) the Collateral Account is a securities account; (3) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account; (5) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, or in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.the

Appears in 1 contract

Samples: Pledge Agreement (Ucu Capital Trust I)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1a) the Securities Intermediary has established the Collateral Account; (2b) the Collateral Account is a securities account; (3c) subject to the terms of this Agreement, the Securities Intermediary shall treat identify in its records the Purchase Contract Collateral Agent as the entitlement holder entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4d) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account; (5e) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities IntermediaryCollateral Agent, indorsed to the Securities Intermediary, Collateral Agent or in blank blank, or credited to another securities account maintained in the name of the Securities IntermediaryCollateral Agent, and the Collateral Agent may, at any time or from time to time, in its sole discretion, cause any or all securities or other property underlying any financial assets credited to the Collateral Account not registered in its name to be so registered in its name; in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 1 contract

Samples: Pledge Agreement (Cinergy Corp)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1) the Securities Intermediary has established the Collateral Account; (2) the Collateral Account is a securities account; (3) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account;; and (5) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, Intermediary or in blank blank, or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder, unless indorsed to the Securities Intermediary or in blank.

Appears in 1 contract

Samples: Pledge Agreement (Pp&l Capital Funding Inc)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1) the Securities Intermediary has established the Collateral Account; (2) the Collateral Account is a securities account; (3) subject to the terms of this Agreement, the Securities Intermediary shall treat identify in its records the Purchase Contract Agent as the entitlement holder entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account; (5) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, Intermediary or in blank blank, or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.

Appears in 1 contract

Samples: Pledge Agreement (Partnerre LTD)

Establishment of Collateral Account. The Securities Intermediary hereby confirms that: (1) the Securities Intermediary has established the Collateral Account; (2) the Collateral Account is a securities account; (3) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account; (4) all property delivered upon delivery to the Securities Intermediary of any property, including Cash, pursuant to this Agreement or Agreement, the Purchase Contract Agreement or the Indenture, the Securities Intermediary will be promptly indicate by book-entry that such property has been credited promptly to the Collateral Account;; and (5) except with respect to the Pledged Debt Securities, which shall be registered in the name of the Purchase Contract Agent, all securities, securities entitlements or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, or in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset or other property credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to to. the Purchase Contract Contract. Agent or any Holder.

Appears in 1 contract

Samples: Pledge Agreement (Dqe Capital Corp)

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