Common use of Indenture Trustee as Securities Intermediary Clause in Contracts

Indenture Trustee as Securities Intermediary. (a) The Indenture Trustee represents that it is a securities intermediary within the meaning of Section 8-102(c)(14) and a “bank” within the meaning of Section 9-102(a)(8) of the UCC. (b) The Indenture Trustee, in its capacity as Securities Intermediary, shall: (i) treat all Collateral credited to the Trust Accounts as “financial assets” within the meaning of Section 8-102(a)(9) of the UCC to the fullest extent permitted by the UCC; (ii) indicate by book entry that a financial asset has been credited to the relevant Trust Account, and when receiving a financial asset from the Issuer or acquiring a financial asset for the Issuer, shall accept it for credit to the relevant Account; and (iii) comply with any “entitlement orders” (within the meaning of Section 8-102(a)(8) of the UCC) originated by the Indenture Trustee with respect to the Trust Accounts without further consent by the Issuer.

Indenture Trustee as Securities Intermediary. (a) The Indenture Trustee represents that it is a securities intermediary within the meaning of Section 8-102(c)(14) and a “bank” within the meaning of Section 9-102(a)(89‑102(a)(8) of the UCC. (b) The Indenture Trustee, in its capacity as Securities Intermediary, shall: (i) treat all Collateral credited to the Trust Accounts as “financial assets” within the meaning of Section 8-102(a)(9) of the UCC to the fullest extent permitted by the UCC; (ii) indicate by book entry that a financial asset has been credited to the relevant Trust Account, and when receiving a financial asset from the Issuer or acquiring a financial asset for the Issuer, shall accept it for credit to the relevant Account; and (iii) comply with any “entitlement orders” (within the meaning of Section 8-102(a)(8) of the UCC) originated by the Indenture Trustee with respect to the Trust Accounts without further consent by the Issuer.