Common use of Holder to be treated as Owner Clause in Contracts

Holder to be treated as Owner. Except as otherwise required by law, each Agent will treat the holder of a Security as its absolute owner as provided in the Conditions and will not be liable for doing so.

Holder to be treated as Owner. Except as otherwise required by law, each Agent will treat the holder of a Security or Coupon as its absolute owner as provided in the Conditions and will not be liable for doing so.