Securities Account Sample Clauses
A Securities Account clause defines the establishment and use of an account specifically for holding and managing securities, such as stocks, bonds, or other financial instruments. This clause typically outlines who may open the account, the rights and responsibilities of the account holder, and the procedures for depositing, withdrawing, or transferring securities. By clearly specifying the terms governing the account, the clause ensures proper management and legal clarity regarding ownership and control of the securities held within the account.
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Securities Account. In furtherance of the provisions of Section 3.03, WTC agrees to act as an Eligible Institution under this Indenture in accordance with the provisions of this Indenture (in such capacity, the “Securities Intermediary”). Except in its capacity as Loan Trustee, WTC waives any claim or lien against any Eligible Account it may have, by operation of law or otherwise, for any amount owed to it by the Company. The Securities Intermediary hereby agrees that, notwithstanding anything to the contrary in this Indenture, (i) any amounts to be held by the Loan Trustee pursuant to subclause (ix) of clause “third” of Section 3.03 and any investment earnings thereon or other Permitted Investments in which such amounts are invested will be credited to an Eligible Account (the “Securities Account”) for which it is a “securities intermediary” (as defined in Section 8-102(a)(14) of the NY UCC) and the Loan Trustee is the “entitlement holder” (as defined in Section 8-102(a)(7) of the NY UCC) of the “security entitlement” (as defined in Section 8-102(a)(17) of the NY UCC) with respect to each “financial asset” (as defined in Section 8-102(a)(9) of the NY UCC) credited to such Eligible Account, (ii) all such amounts, Permitted Investments and all other property acquired with cash credited to the Securities Account will be credited to the Securities Account, (iii) all items of property (whether cash, investment property, Permitted Investments, other investments, securities, instruments or other property) credited to the Securities Account will be treated as a “financial asset” under Article 8 of the NY UCC, (iv) its “securities intermediary’s jurisdiction” (as defined in Section 8-110(e) of the NY UCC) with respect to the Securities Account is the State of New York, and (v) all securities, instruments and other property in order or registered form and credited to the Securities Account shall be payable to or to the order of, or registered in the name of, the Securities Intermediary or shall be indorsed to the Securities Intermediary or in blank, and in no case whatsoever shall any financial asset credited to the Securities Account be registered in the name of the Company, payable to or to the order of the Company or specially indorsed to the Company except to the extent the foregoing have been specially indorsed by the Company to the Securities Intermediary or in blank. The Loan Trustee agrees that it will hold (and will indicate clearly in its books and records that it holds) its...
Securities Account. All Permitted Investments have been and will be credited to a Securities Account. The securities intermediary for each Securities Account has agreed to treat all assets credited to the Securities Accounts as “financial assets” within the meaning of the applicable UCC.
Securities Account. All Permitted Investments have been and will be credited to a Series 2025-7 Securities Account. The Securities Intermediary for each Series 2025-7 Securities Account has agreed to treat all assets credited to the Series 2025-7 Securities Accounts as “financial assets” within the meaning of the applicable UCC.
Securities Account. The Borrower shall deliver to the Agent, promptly after its receipt thereof, a copy of the monthly account statement for the Securities Account. The Borrower further agrees that the Agent shall have the right, should it so elect, to monitor the Securities Account from time to time on a “real time” or other electronic basis, and to that end the Borrower hereby irrevocably authorizes and instructs the Securities Intermediary to take such steps as may be necessary to allow the Agent to so monitor the Securities Account. The foregoing right to monitor the Securities Account shall give the Agent the right to monitor all aspects of the Securities Account, including, without limitation, the right to monitor all financial assets held therein and all trading activity relating thereto. The Borrower agrees to indemnify and hold the Securities Intermediary harmless from and against any losses, damages or expenses the Securities Intermediary may incur as a result of the Securities Intermediary permitting the Agent to monitor the Securities Account as provided in this Section, except for any such losses, damages or expenses that arise out of the Securities Intermediary’s gross negligence or willful misconduct. The Securities Intermediary shall be a third-party beneficiary of this Section.
Securities Account. If the Collateral includes securities or any other financial or other asset maintained in a securities account, then the Pledgor agrees to cause the securities intermediary on whose books and records the ownership interest of the Pledgor in the Collateral appears (the “Custodian”) to execute and deliver, contemporaneously herewith, a notification and control agreement or other agreement (the “Control Agreement”) satisfactory to the Secured Party in order to perfect and protect the Secured Party’s security interest in the Collateral.
Securities Account. 5.1 Computershare shall in accordance with its standard operating procedures open and maintain a Securities Account(s) in its records in the name of the Client to record the number or nominal value of Securities of each kind deposited by the Client with Computershare and to record all transactions and entries made in respect of such Securities (“the Securities Account”).
5.2 Any entry made in a Securities Account shall be made only in accordance with authorising instructions given by the Client and the provisions of the Securities Legislation. Computershare will make the entry in the relevant account of the Client where the Securities are held.
5.3 Computershare shall not be obliged to make any entry in a Securities Account unless it conforms to clause 11 of this Agreement.
5.4 Computershare shall not give effect to any instruction that will result in a debit balance in respect of any Security held in a Securities Account.
5.5 The Client may in terms of the CSD Rules and Directives:
5.5.1 request a Primary Participant to open one or more Segregated Depository Account(s);
5.5.2 appoint a Secondary Participant;
5.6 If the Client elects to open a Segregated Depository Account, the Client will be required to complete a custody and settlement agreement, the Securities will be withdrawn from the Own Name Securities Account and the Client may no longer use the Deal Routing service provided by Computershare.
5.7 The Client undertakes to pay all the related costs associated with such transfer and to pay the annual administration fee as notified by Computershare from time to time.
5.8 In the event of an Insolvency Proceeding against the Primary Participant, the CSD may take any action as is necessary in accordance with the Act, Rules, Directives and Client mandate.
Securities Account. (a) On or prior to the Closing Date, the Trustee will establish, in the name of the Trustee for the benefit of the Down-MACRO Tradeable Trust at the offices of the Trustee, a segregated interest bearing trust account, titled the "MACROShares Down Oil Benchmark Tradeable Trust Securities Account," with the account number listed on Schedule I attached hereto (such account, the "Securities Account") into which the Trustee, at the instructions of the Administrative Agent, will from time to time deposit and withdraw Down-MACRO Holding Shares pursuant to Sections 6.2 and 6.6 of this Trust Agreement.
(b) The Securities Account will be subject to the exclusive dominion and control of the Trustee and will be maintained as a segregated special-purpose trust account with the Trustee. Each of the Depositor, the Administrative Agent and the Trustee agree that it shall have no right of set-off or banker's lien against, and no right to otherwise deduct from, any funds or assets held in the Securities Account for any amount owed to it by the Down-MACRO Tradeable Trust or any Holder of Down-MACRO Tradeable Shares.
(c) On the Closing Date, the Depositor shall make an Initial Deposit into the Securities Account in accordance with Section 6.1(c). The Depositor shall have no right to withdraw securities or any amounts on deposit in the Securities Account. The Trustee is irrevocably authorized to make withdrawals from the Securities Account pursuant to Sections 6.2 and 6.6 of this Trust Agreement; provided, that it has received the proper instructions from an Authorized Participant in accordance with the Participants Agreement. The Depositor shall have no obligation to replenish any securities or amounts withdrawn from the Securities Account.
Securities Account. 5.1 Computershare shall in accordance with its standard operating procedures open and maintain a securities account(s) in its records in the name of the Client to record the number or nominal value of securities of each kind deposited by the Client with Computershare and to record all transactions and entries made in respect of such securities (“the Securities Account”).
5.2 Any entry made in a Securities Account shall be made only in accordance with authenticated instructions given by the Client and the provisions of the Securities Legislation.
5.3 Computershare shall not be obliged to make any entry in a Securities Account unless it conforms to clause 11 of this Agreement.
5.4 Computershare shall not give effect to any instruction that will result in a debit balance in respect of any security held in a Securities Account.
Securities Account. Security.
Securities Account securities account indicated in the Agreement opened in the name of the Client in the Bank.