Rehypothecation. (a) Customer expressly grants each BNPP Entity the right, to the fullest extent that it may effectively do so under Applicable Law, to re-register the Collateral in its own name or in another name other than Customer’s, to use or invest the proceeds of any securities lending transaction at its own risk, and to pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use the Collateral (the “Hypothecated Securities”), with all attendant rights of ownership except as provided below. For the purposes of the return of any Hypothecated Securities to Customer, BNPP PB’s return obligations shall be satisfied by delivering the Hypothecated Securities or securities identical to such Hypothecated Securities (such securities having the same CUSIP number as the subject Hypothecated Securities, or in the case of a reorganization or recapitalization of the issuer, the equivalent of the subject Hypothecated Securities) (“Equivalent Securities”). For the avoidance of doubt, (a) the BNPP Entities shall comply with Rule 15c3-3 of the Securities Exchange Act of 1934, as such rule may be amended, restated or otherwise modified from time to time including in relation to the treatment of “fully paid securities” and (b) Customer hereby grants BNPP PB its consent to hypothecate its securities for the purposes of Rule 15c2-1(a)(1) of the Exchange Act, subject to the limits of this Agreement.
(b) Collateral held by Custodian (including any successor thereto) pursuant to the Special Custody Agreement (the “Margin Collateral”) shall be transferred to BNPP PB for purposes of rehypothecation only against a request to Custodian for release of Margin Collateral (“Hypothecation Request”) that meets the following requirements: (i) the Hypothecation Request is issued by a duly authorized representative of BNPP PB in accordance with the requirements for instructions set forth for in the Special Custody Agreement, (ii) subject to Section 2(c)(B), the fair market value of the securities which are subject to the Hypothecation Request, together with the value of any outstanding Hypothecated Securities, shall not exceed the sum of (i) the value of the loan against which the Margin Collateral was pledged and (ii) an amount equal to the market value of securities sold short minus the cash in the Account (“Hypothecation Limit”), provided that the fair market value of the securities which are subject to the Hypothecation Request, together with the value of any outstanding Hy...
Rehypothecation. Prior to the occurrence of an Event of Default, Lender agrees not to rehypothecate, pledge, sell, assign, invest, lend, use, commingle or otherwise dispose of, or otherwise use in its business, the SINA Shares or any other Securities standing to the credit of the Collateral Account during the term of this Agreement; provided that the foregoing shall not restrict (a) where or by whom the SINA Shares or such other Securities may be held for purposes of perfecting the Liens granted under the Pledge Agreement, or (b) Lender’s right to assign the Obligations and the SINA Shares and such other Securities in accordance with Section 7.06 below.
Rehypothecation. Prior to the occurrence of an Event of Default, Secured Party and Custodian agree not to rehypothecate, pledge, sell, assign, invest, lend, use, commingle or otherwise dispose of, or otherwise use in its business, the SINA Shares or any other Securities standing to the credit of the Collateral Account during the term of this Agreement; provided that the foregoing shall not restrict (i) where or by whom the Certificates, the SINA Shares, or such other Securities may be held for purposes of perfecting the Liens granted under the Pledge Agreement, or (ii) Secured Party’s right to assign the Secured Obligations, the SINA Shares and such other Securities in accordance with clause (k) below.
Rehypothecation. Without otherwise limiting the rights and obligations of the parties hereunder, if no Event of Default has occurred or been designated with respect to the Secured Party, then the Secured Party will, notwithstanding Section 9-207 of the New York Uniform Commercial Code, have the right to (i) sell, pledge, rehypothecate, assign, invest, use or otherwise dispose of, or otherwise use in its business any Margin provided by the Pledgor it holds, free from any claim or right of any nature whatsoever of the Pledgor, including any equity or right of redemption by the Pledgor, other than the rights explicitly set forth elsewhere herein; and (ii) register any Margin in the name of the Secured Party, its assignee or a nominee for either. Notwithstanding the foregoing, the Secured Party will be deemed to continue to hold all Margin (or, if the Secured Party sells, uses or disposes of such Margin in accordance with this Section, then an amount of cash or substitute Margin equal to the Fair Market Value of such Margin as of the date of such sale, use or disposition) and to receive all principal, interest and other payments and distributions of cash or other property with respect thereto, regardless of whether the Secured Party has exercised any rights with respect to Margin pursuant to (i) or (ii) above.
Rehypothecation. You agree and authorise us to borrow, lend, appropriate, dispose of or otherwise use for our own purposes, from time to time, all non-cash margin accepted by us from you and, to the extent that we do, we both acknowledge that the relevant non-cash margin will be transferred to a proprietary account belonging to us (or to any other account selected by us from time to time) by way of absolute transfer and such margin will become the absolute property of ours (or that of our transferee) free from any security interest under this Agreement and from any equity, right, title or interest of yours. Upon any such rehypothecation by us you will have a right against us for the delivery of property, cash, or securities of an identical type, nominal value, description and amount to the rehypothecated non-cash margin, which, upon being delivered back to you, will become subject to the provisions of this Agreement. We agree to credit to you, as soon as reasonably practicable following receipt by us, and as applicable, a sum of money or property equivalent to (and in the same currency as) the type and amount of income (including interest, dividends or other distributions whatsoever with respect to the non-cash margin) that would be received by you in respect of such non-cash margin assuming that such non-cash margin was not rehypothecated by us and was retained by you on the date on which such income was paid.
Rehypothecation. The Client agrees and authorises APM to borrow, lend, appropriate, dispose of or otherwise use for APM’s own purposes, from time to time, all non-cash margin accepted by APM from the Client and, to the extent that APM does, APM acknowledges that the relevant non-cash margin will be transferred to a proprietary account belonging to APM (or to any other account selected by APM from time to time) by way of absolute transfer and such margin will become the absolute property of APM’s (or that of APM transferee) free from any security interest under this Agreement and from any equity, right, title or interest of the Client’s. Upon any such rehypothecation by APM the Client will have a right against APM for the delivery of property, cash, or securities of an identical type, nominal value, description and amount to the rehypothecated non- cash margin, which, upon being delivered back to the Client, will become subject to the provisions of this Agreement.
Rehypothecation. Customer expressly grants the BofA Entities the right, to the fullest extent that it may effectively do so under Applicable Law and without notice to Customer, (a) to hold and re-register the Collateral in their own name or in another name other than Customer’s, and to pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use any amount of the Collateral, separately or together with other amounts of the Collateral, with all attendant rights of ownership (including the right to vote the securities), for the sum due to any of the BofA Entities, or for a greater sum and for a period of time longer than the Obligations or Contracts with respect to which such Collateral was pledged, and without retaining in their possession and control a like amount of similar Collateral and (b) to use or invest cash Collateral at its own risk. For the purposes of the return of any Collateral to Customer, the BofA Entities’ return obligations shall be satisfied by delivering securities of the same issuer, class and quantity as the Collateral initially transferred. For the avoidance of doubt, Customer hereby grants the BofA Entities its consent to hypothecate its securities for the purposes of Rule 15c2-1(a)(1) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Rehypothecation the Client agrees and authorises APM to borrow, lend, appropriate, dispose of or otherwise Use for APM’s own purposes, from time to time, all non-cash margin accepted by APM from the Client and, to the extent that APM does, APM acknowledges that the relevant non-cash margin will be transferred to a proprietary account belonging to APM (or to any other account selected by APM from time to time) by way of absolute transfer and such margin will become the absolute property of APM’s (or that of APM transferee) free from any security interest under this Agreement and from any equity, right, title or interest of the Client’s. Upon any such rehypothecation by APM the Client will have a right against APM for the delivery of property, cash, or securities of an identical type, nominal value, description and amount to the rehypothecated non- cash margin, which, upon being delivered back to the Client, will become subject to the provisions of this Agreement. APM agrees to credit to the Client, as soon as reasonably practicable following receipt by APM, and as applicable, a sum of money or property equivalent to (and in the same currency as) the type and amount of income (including interest, dividends or other distributions whatsoever with respect to the non-cash margin) that would be received by the Client in respect of such non-cash margin assuming that such non-cash margin was not rehypothecated by APM and was retained by the Client on the date on which such income was paid.
Rehypothecation. (a) Paragraph 8 of the Master Repurchase Agreement is amended by deleting "or pay Income" in the ninth line thereof and deleting the comma in the tenth line thereof.
(b) Buyer may at its sole election engage in repurchase transactions with the Purchased Securities or otherwise pledge, hypothecate, assign, transfer or otherwise convey the Purchased Securities with a counterparty of Buyer's choice; PROVIDED, HOWEVER, that no such transaction by Buyer shall relieve Buyer of its obligations to WFC in connection with the repurchase by WFC of any Purchased Securities in accordance with the terms of this Agreement and the relevant Confirmation.
Rehypothecation. (a) Use. Unless prohibited by Applicable Laws, you expressly authorize JPMS (i) to hold and register any Securities which constitute Margin hereunder in the name of JPMS or in another name other than your name, (ii) to pledge, repledged, hypothecate, rehypothecate, sell, lend or otherwise transfer or use any amount of the securities which constitute Margin hereunder (collectively with any of the uses described in clause (i), “Used”) either separately or in common with other property for any amounts due to JPMS thereon, and for a greater sum than, and for periods longer than, your Obligations, and XX Xxxxxx shall have no obligation to retain a like amount of similar property in its possession and control, and (iii) to use or invest cash Margin at its own risk.
