Indenture Trustee as Securities Intermediary. The Indenture Trustee represents that it is a Securities Intermediary and a “bank” within the meaning of Section 9-102(a)(8) of the UCC. 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.
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Samples: Indenture (California Republic Auto Receivables Trust 2015-2), Indenture (California Republic Funding LLC), Indenture (California Republic Funding LLC)
Indenture Trustee as Securities Intermediary. The Indenture Trustee represents that it is a Securities Intermediary and a “bank” within the meaning of Section 9-102(a)(8) of the UCC. 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.
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