Common use of Initial Transfer Clause in Contracts

Initial Transfer. The Depository hereby transfers to the Custodian, on behalf of the Public Depositor, subject to the security interest granted to the Public Depositors under 20 NCAC 07, the collateral described in Collateral Form 95, Collateral Form 96, and the Escrow Agent’s report/summary, which are all incorporated herein by reference as amended from time to time (the “Collateral”). The Depository certifies that the Collateral is Eligible Security, subject to the requirements of the Security Agreement between the Public Depositor and the Depository, and North Carolina General Statute §§ 147-79, 147- 69, and 20 NCAC 07 adopted pursuant thereto (together, the “Public Deposits Act”).

Initial Transfer. The Depository hereby transfers to the Custodian, on behalf of the Public Depositor, subject to the security interest granted to the Public Depositors Depositor under 20 NCAC 07, the collateral described in Collateral Form 95, Collateral Form 96, and the Escrow Agent’s report/summary, which are all incorporated herein by reference as amended from time to time (the “Collateral”). The Depository certifies that the Collateral is Eligible Security, subject to the requirements of the Security Agreement between the Public Depositor and the Depository, and North Carolina General Statute §§ 147-79, 147- 69, and 20 NCAC 07 adopted pursuant thereto (together, the “Public Deposits Act”).

Initial Transfer. The Depository hereby transfers to the Custodian, on behalf of the Public Depositor, subject to the security interest granted to the Public Depositors under 20 NCAC 07, the collateral described in Collateral Form 95, Collateral Form 96, and the Escrow Agent’s reportr/summaryseumpmoarry, which twhich are all incorporated herein by reference as amended from time to time (the “Collateral”). The Depository certifies that the Collateral is Eligible SecurityDeEpligoibsle iSetcuoritry, subject to the requirements of the ysubjecct etorthteirefquiireemsents tofhthae t Security Agreement between the Public Depositor and the Depository, and North Carolina General Statute §§ 147-79, 147- 69, and 20 NCAC 07 adopted pursuant thereto (together, the “Public Deposits Act”).