Representation and Warranty; Indemnity. (a) The Settlement Agent represents and warrants to CBL, acting in its two capacities as commission agent (commissionaire) and as depositary, that the documentation governing each Syndicated New Issues Distribution will state that the steps necessary for the creation of the newly issued securities (in particular the crediting of the newly issued securities to the relevant securities account(s) and the execution of the payment instructions to the Issuer and/or as directed by the Issuer) are deemed to take place simultaneously.
Appears in 4 contracts
Samples: Agreement, Agreement, www.clearstream.com
