Common use of Establishment of Reserve Fund Clause in Contracts

Establishment of Reserve Fund. The Securities Intermediary hereby confirms that (i) the Reserve Fund has been established with the Securities Intermediary, (ii) the Reserve Fund is an account to which financial assets are or may be credited, (iii) the Securities Intermediary shall, subject to the terms of this Agreement and the Indenture, treat the Assignee-Secured Party as entitled to exercise the rights that comprise any financial asset credited to the Reserve Fund, (iv) all property delivered to the Securities Intermediary by or on behalf of the Assignee-Secured Party or the Initial-Secured Party for deposit to the Reserve Fund will promptly be credited to the Reserve Fund and (v) all securities or other property underlying any financial assets credited to the Reserve Fund shall be registered in the name of the Securities Intermediary, 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 Reserve Fund be registered in the name of the Transferor, payable to the order of the Transferor or specially endorsed to the Transferor except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.

Establishment of Reserve Fund. The Securities Intermediary hereby confirms that (i) the Securities Intermediary has established the Reserve Fund has been established with the Securities IntermediaryFund, (ii) the Reserve Fund is an account to which financial assets are or may be credited, (iii) the Securities Intermediary shall, subject to the terms of this Agreement and the Indenture, treat the Assignee-Secured Party as entitled to exercise the rights that comprise any financial asset credited to the Reserve Fund, (iv) all property delivered to the Securities Intermediary by or on behalf of the Assignee-Secured Party or the Initial-Initial Secured Party for deposit to the Reserve Fund will promptly be credited to the Reserve Fund and (v) all securities or other property underlying any financial assets credited to the Reserve Fund shall be registered in the name of the Securities Intermediary, 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 Reserve Fund be registered in the name of the Transferor, payable to the order of the Transferor or specially endorsed to the Transferor except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.