Common use of Establishment of Securities Accounts Clause in Contracts

Establishment of Securities Accounts. The Securities Intermediary hereby confirms that (i) the Securities Intermediary has established the Securities Accounts listed in the definition thereof, (ii) each Securities Account 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 each Securities Account, (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 one of the Securities Accounts will promptly be credited to that Securities Account and (v) all securities or other property underlying any financial assets credited to any of the Securities Accounts 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 any Securities Account be registered in the name of the Seller, payable to the order of the Seller or specially endorsed to the Seller except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.

Establishment of Securities Accounts. The Securities Intermediary hereby confirms that (i) the Securities Intermediary has established the Securities Accounts listed in the definition thereofAccounts, (ii) the Securities Accounts are, and it shall treat each of the Securities Account Accounts as, a “securities account” within the meaning of Section 8-501 of the UCC, (iii) each of the Securities Accounts is an account to which financial assets are or may be credited, (iii) the and Securities Intermediary shall, subject to the terms of this Agreement and the IndentureAgreement, treat the Assignee-Secured Party as (A) entitled to exercise the rights that comprise any financial asset or security entitlement credited to each Securities Account, (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 one any of the Securities Accounts will promptly be credited to that Securities Account and (vB) the “entitlement holder” (within the meaning of Section 8-102(a)(7) of the UCC) with respect to the Securities Accounts on the books and records of Securities Intermediary, and (iv) all securities or other property underlying any financial assets or security entitlement credited to any of the Securities Accounts shall be registered in the name of the Securities IntermediaryIntermediary or its nominee, endorsed to the Securities Intermediary or in blank or credited to another securities account maintained in the name of the Securities Intermediary or its nominee, and in no case will any financial asset credited to any of the Securities Account Accounts be registered in the name of the SellerGrantor, payable to the order of the Seller Grantor or specially endorsed to the Seller Grantor except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.

Establishment of Securities Accounts. The Securities Intermediary hereby confirms that (i) the Securities Intermediary has established the Securities Accounts listed in the definition thereofAccounts, (ii) the Securities Accounts are, and it shall treat each of the Securities Account Accounts as, a “securities account” within the meaning of Section 8-501 of the UCC, (iii) each of the Securities Accounts is an account to which financial assets are or may be credited, (iii) the and Securities Intermediary shall, subject to the terms of this Agreement and the IndentureAgreement, treat the Assignee-Secured Party as (A) entitled to exercise the rights that comprise any financial asset or security entitlement credited to each Securities Account, (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 one any of the Securities Accounts will promptly be credited to that Securities Account and (vB) the “entitlement holder” (within the meaning of Section 8-102 of the UCC) with respect to the Securities Accounts on the books and records of Securities Intermediary, and (iv) all securities or other property underlying any financial assets or security entitlement credited to any of the Securities Accounts shall be registered in the name of the Securities IntermediaryIntermediary or its nominee, endorsed to the Securities Intermediary or in blank or credited to another securities account maintained in the name of the Securities Intermediary or its nominee, and in no case will any financial asset credited to any of the Securities Account Accounts be registered in the name of the SellerGrantor, payable to the order of the Seller Grantor or specially endorsed to the Seller Grantor except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.