Common use of Pledged Marketable Securities Clause in Contracts

Pledged Marketable Securities. In the case of Collateral consisting of Marketable Securities, by delivery of certificates evidencing such Marketable Securities, registered in the name of the Collateral Agent or its nominee or, if such Marketable Securities are not issuable in certificated form but are held in book entry form by The Depository Trust Company, by transfer to an account of the Collateral Agent or to an account (other than an account of the Pledgor) designated by the Collateral Agent with The Depository Trust Company. Each such delivery of Marketable Securities shall be accompanied by an opinion of counsel satisfactory to the Collateral Agent that the Collateral Agent has obtained a valid, first priority perfected security interest in, and a first lien upon, such Marketable Securities. Upon delivery of any Pledged Item under this Collateral Agreement, the Collateral Agent shall examine such Pledged Item and any opinions and certificates delivered pursuant to Sections 6(b) or (c) or otherwise pursuant to the terms hereof in connection therewith to determine that they comply as to form with the requirements for Eligible Collateral. The Pledgor hereby designates the Collateral Agent as the person in whose name any Collateral held in book entry form in the Federal Reserve System shall be registered.

Pledged Marketable Securities. In the case of Collateral consisting of Marketable Securities, by delivery of certificates evidencing such Marketable Securities, registered in the name of the Collateral Agent or its nominee or, if such Marketable Securities are not issuable in certificated form but are held in book entry form by The Depository Trust Company, by transfer to an account of the Collateral Agent or to an account (other than an account of the Pledgor) designated by the Collateral Agent with The Depository Trust Company. Each such delivery of Marketable Securities shall be accompanied by an opinion of counsel satisfactory to (who may be an employee of the Collateral Agent Pledgor) that the Collateral Agent has obtained a valid, first priority perfected security interest in, and a first lien upon, such Marketable Securities. Upon delivery of any Pledged Item under this Collateral Agreement, the Collateral Agent shall examine such Pledged Item and any opinions and certificates delivered pursuant to Sections 6(b) or (c) or otherwise pursuant to the terms hereof in connection therewith to determine that they comply as to form with the requirements for Eligible Collateral. The Pledgor hereby designates the Collateral Agent as the person in whose name any Collateral held in book entry form in the Federal Reserve System shall be registered.