Common use of Establishment of the Accounts Clause in Contracts

Establishment of the Accounts. The Securities Intermediary hereby confirms that (i) the Accounts have been established with the Securities Intermediary, (ii) each 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 Secured Party as entitled to exercise the rights that comprise any financial asset credited to an Account, (iv) all property delivered to the Securities Intermediary by or on behalf of the Secured Party or the Issuer for deposit to an Account will promptly be credited to such Account and (v) all securities or other property underlying any financial assets credited to an Account 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 an Account be registered in the name of the Issuer, payable to the order of the Issuer or specially endorsed to the Issuer except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.

Establishment of the Accounts. The Securities Intermediary hereby confirms that (i) the Accounts have been established with the Securities Intermediary, (ii) each 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 Secured Party as entitled to exercise the rights that comprise any financial asset credited to an Account, (iv) all property delivered to the Securities Intermediary by or on behalf of the Secured Party or the Issuer for deposit to an Account will promptly be credited to such Account and (v) all securities or other property underlying any financial assets credited to an Account shall be registered in the name of the Securities Intermediary, endorsed to the Securities Intermediary or in blank or credited to another segregated securities account maintained in the name of the Securities Intermediary and in no case will any financial asset credited to an Account be registered in the name of the Issuer, payable to the order of the Issuer or specially endorsed to the Issuer except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.