Common use of Securities Transfer Act Clause in Contracts

Securities Transfer Act. The parties acknowledge and agree that for purposes of the Securities Transfer Act and similar legislation in any other jurisdiction, the securities intermediary’s jurisdiction of BMO InvestorLine with respect to the Account is Ontario, any property, instruments or assets credited to the Account constitute financial assets as defined in the Securities Transfer Act, and the Account constitutes a securities account as defined in the Securities Transfer Act. For greater certainty and for purposes of the laws of the Province of Quebec, the parties acknowledge and agree that the validity, publication and effects of publication of all security on security entitlements and securities forming part of the Collateral in the Account shall be governed by the laws of the Province of Ontario.