Identified Securities Sample Clauses
Identified Securities. The parties hereto acknowledge that no security entitlement under the UCC shall exist with respect to any financial asset held in the Securities Account which is registered in the name of the Customer, payable to the order of the Customer, or specially indorsed to the Customer or any third party (each such asset an “Identified Security”), except to the extent such Identified Security has been specially indorsed by the Customer to Custodian or in blank. The Customer covenants and agrees that it shall not instruct the Custodian to credit Collateral (except cash) to the Securities Account unless such Collateral is registered in the name of the Custodian, indorsed to the Custodian or in blank or credited to another securities account maintained in the name of the Custodian and that in no case will any Collateral or underlying financial asset credited to the Securities Account be registered in the name of the Customer, payable to the order of the Customer or specially indorsed to the Customer, except to the extent such Collateral has been further indorsed to the Custodian or in blank. The parties acknowledge and agree that if any Identified Securities are received by the Custodian and credited to the Securities Account from time to time, such Identified Securities shall (so long as so credited to the Securities Account and so long as this Agreement remains in effect) be held by Custodian for the benefit of the Agent, not in its capacity as a securities intermediary, but in its capacity as a collateral agent under and subject to the terms of this Agreement.
Identified Securities. (i) Within three (3) Business Days following the delivery of the PrinceRidge Securities Valuation Statement, IFMI shall have the opportunity to deliver a notice to the PrinceRidge Entities identifying for liquidation all or any portion of the Eligible Securities listed among the Valuation PrinceRidge Securities included on the PrinceRidge Securities Valuation Statement (the “PrinceRidge Identified Securities”); provided, that the value of such PrinceRidge Identified Securities, as set forth on the PrinceRidge Securities Valuation Statement, shall not exceed Six Million Dollars ($6,000,000) in the aggregate, which amount shall be reduced by the liquidation value of any Suggested Securities identified on a PrinceRidge Securities FMV Statement that are liquidated prior to April 30, 2011. During the forty-five (45) days following receipt of such notice from IFMI (the “PrinceRidge Sale Period”), the PrinceRidge Entities shall liquidate the PrinceRidge Identified Securities. Whenever any of the PrinceRidge Identified Securities are sold during the PrinceRidge Sale Period, PrinceRidge shall immediately inform IFMI of such liquidation and the liquidation price (adjusted for any reduction in accrued or future compensation as a result of such liquidation in accordance with GAAP) shall be used to calculate the value of the PrinceRidge Identified Securities as of April 30, 2011 and to determine the Final PrinceRidge Membership Equity.
(ii) Within three (3) Business Days following the Interim Closing Date, the PrinceRidge Entities shall have the opportunity to deliver a notice to IFMI identifying for liquidation all or any portion of the Eligible Securities listed among the Valuation CCCM Securities included on the CCCM Securities Valuation Statement (the “CCCM Identified Securities” and together with the PrinceRidge Identified Securities, the “Identified Securities”); provided, that any Agency Securities so identified shall not exceed an aggregate value of Thirty Seven Million Five Hundred Thousand Dollars ($37,500,000) and the non-Agency Securities so identified shall not exceed an aggregate value of Twelve Million Five Hundred Thousand Dollars ($12,500,000), in each case as such values are set forth on the CCCM Securities Valuation Statement, which amounts shall be reduced by the liquidation value of any Suggested Securities identified on a CCCM Securities FMV Statement that are liquidated prior to the Interim Closing Date. During the forty-five (45) days following ...