Exemption from Lien. Except as otherwise provided in this Agreement, the securities and other assets held by you for a Portfolio will be subject to no lien or charge of any kind in your favor or in the favor of any person claiming through you, but nothing in this Agreement will be deemed to deprive you of your right to invoke any and all remedies available at law or equity to called amounts due to you under this Agreement. Neither you nor your agents have any power or authority to assign, hypothecate, pledge or otherwise dispose of any securities held by you for a Portfolio, except at our direction duly given or provided in this Agreement, and only for the account of the Portfolio.
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