Common use of Security Interest and Rights Respecting Collateral Clause in Contracts

Security Interest and Rights Respecting Collateral. Except to the extent proscribed by Applicable Law not subject to waiver, all Contracts, cash, securities, and/or any other property of Customer whatsoever (collectively, the "Collateral") at any time held by Morgan Stanley or its affiliates, or carried by others for the Accoxxx, xexxxx xxe pledged to Morgan Stanley and shall be subject to a general lien and security xxxxxxsx xx Xxrgan Stanley's favor to secure any indebtedness or other amounts, xxxxxxxxxxx xxx/or liabilities at any time owing from Customer to Morgan Stanley (collectively, the "Customer's Liabilities"). Customxx xxxexx xxxxts Morgan Stanley the right to borrow, pledge, repledge, hypothecate, xxxxxxtxxxxxx, loan or invest any of the Collateral held by Morgan Stanley, including utilizing the Collateral to purchase Unitxx Xxxtxx Xxxxrnment Treasury obligations pursuant to repurchase agreements or reverse repurchase agreements with any party, in each case without notice to Customer and without any obligation to pay or to account to Customer for any interest, income or benefit that may be derived therefrom. The rights of Morgan Stanley set forth above shall be qualified by any applicable xxxxxrxxxxxx for segregation of customers' property under Applicable Law. Morgan Stanley commits to Customer that Morgan Stanley will not issxx x Xoxxxx xx Exclusive Control under txx Xxxtxxx Xxxeement between Morgan Stanley and DWR unless Morgan Stanley determines there is a xxxxxxt xxxxx this Agreement.

Security Interest and Rights Respecting Collateral. Except to the extent proscribed by Applicable Law not subject to waiver, all Contracts, cash, securities, and/or any other property of Customer whatsoever (collectively, the "Collateral") at any time held by Morgan Stanley or its affiliates, or carried by others for the AccoxxxAccouxx, xexxxx xxe xxrxxx xxx pledged to Morgan Stanley and shall be subject to a general lien and security xxxxxxsx ixxxxxxt xx Xxrgan Xxxgan Stanley's favor to secure any indebtedness or other amounts, xxxxxxxxxxx xxx/or liabilities at any time owing from Customer to Morgan Stanley (collectively, the "Customer's Liabilities"). Customxx xxxexx xxxxts Customex xxxxbx xxxxxs Morgan Stanley the right to borrow, pledge, repledge, hypothecate, xxxxxxtxxxxxxrxxxxxxhxxxxx, loan or invest any of the Collateral held by Morgan Stanley, including utilizing the Collateral to purchase Unitxx Xxxtxx Xxxxrnment Unitex Xxxxex Xxxxxnment Treasury obligations pursuant to repurchase agreements or reverse repurchase agreements with any party, in each case without notice to Customer and without any obligation to pay or to account to Customer for any interest, income or benefit that may be derived therefrom. The rights of Morgan Stanley set forth above shall be qualified by any applicable xxxxxrxxxxxx for xxxxxxexxxxx xor segregation of customers' property under Applicable Law. Morgan Stanley commits to Customer that Morgan Stanley will not issxx issux x Xoxxxx Xxtxxx xx Exclusive Control under txx Xxxtxxx Xxxeement thx Xxxxrxx Xxxxement between Morgan Stanley and DWR unless Morgan Stanley determines there is a xxxxxxt dxxxxxx xxxxx this xhis Agreement.

Security Interest and Rights Respecting Collateral. Except to the extent proscribed by Applicable Law not subject to waiver, all Contracts, cash, securities, and/or any other property of Customer whatsoever (collectively, the "Collateral") at any time held by Morgan Stanley or its affiliates, or carried by others for the AccoxxxAcxxxxx, xexxxx xxe xxxxxx are pledged to Morgan Stanley and shall be subject to a general lien and security xxxxxxsx securitx xxxxrxxx xx Xxrgan Morgan Stanley's favor to secure any indebtedness or other amountsamountx, xxxxxxxxxxx xxxxnd/or liabilities at any time owing from Customer to Morgan Stanley (collectively, the "Customer's Liabilities"). Customxx xxxexx xxxxts Custxxxx xexxxx xxants Morgan Stanley the right to borrow, pledge, repledge, hypothecate, xxxxxxtxxxxxxxxxxpxxxxxxxe, loan or invest any of the Collateral held by Morgan Stanley, including utilizing the Collateral to purchase Unitxx Xxxtxx Xxxxrnment Unxxxx Xtxxxx Xxvernment Treasury obligations pursuant to repurchase agreements or reverse repurchase agreements with any party, in each case without notice to Customer and without any obligation to pay or to account to Customer for any interest, income or benefit that may be derived therefrom. The rights of Morgan Stanley set forth above shall be qualified by any applicable xxxxxrxxxxxx applicabxx xxxuxxxxxxxs for segregation of customers' property under Applicable Law. Morgan Stanley commits to Customer that Morgan Stanley will not issxx ixxxx x Xoxxxx xx Xxxxxx of Exclusive Control under txx Xxxtxxx Xxxeement xxx Xoxxxxx Xgreement between Morgan Stanley and DWR unless Morgan Stanley determines there is a xxxxxxt xxxxx x xxxxuxx xxxxr this Agreement.

Security Interest and Rights Respecting Collateral. Except to the extent proscribed by Applicable Law not subject to waiver, all Contracts, cash, securities, and/or any other property of Customer whatsoever (collectively, the "Collateral") at any time held by Morgan Stanley or its affiliates, or carried by others for the AccoxxxAccxxxx, xexxxx xxe hxxxxx xre pledged to Morgan Stanley and shall be subject to a general lien and security xxxxxxsx xxxxxexx xx Xxrgan Xorgan Stanley's favor to secure any indebtedness or other amounts, xxxxxxxxxxx xxxxxd/or liabilities at any time owing from Customer to Morgan Stanley (collectively, the "Customer's Liabilities"). Customxx xxxexx xxxxts Custoxxx xxrxxx xxxnts Morgan Stanley the right to borrow, pledge, repledge, hypothecate, xxxxxxtxxxxxxxxxxxoxxxxxxx, loan or invest any of the Collateral held by Morgan Stanley, including utilizing the Collateral to purchase Unitxx Xxxtxx Xxxxrnment Unixxx Xxaxxx Xxxernment Treasury obligations pursuant to repurchase agreements or reverse repurchase agreements with any party, in each case without notice to Customer and without any obligation to pay or to account to Customer for any interest, income or benefit that may be derived therefrom. The rights of Morgan Stanley set forth above shall be qualified by any applicable xxxxxrxxxxxx applicablx xxxxixxxxxxx for segregation of customers' property under Applicable Law. Morgan Stanley commits to Customer that Morgan Stanley will not issxx isxxx x Xoxxxx xx Nxxxxx xf Exclusive Control under txx Xxxtxxx Xxxeement xxx Xxnxxxx Xxreement between Morgan Stanley and DWR Morgan Stanley DW unless Morgan Stanley determines there is a xxxxxxt xxxxx this Agreementdetermixxx xxexx xx x defaxxx xxdxx xxxx Xxreement.

Security Interest and Rights Respecting Collateral. Except to the extent proscribed by Applicable Law not subject to waiver, all Contracts, cash, securities, and/or any other property of Customer whatsoever (collectively, the "Collateral") at any time held by Morgan Stanley or its affiliates, or carried by others for the AccoxxxAccouxx, xexxxx xxe xxrxxx xxx pledged to Morgan Stanley and shall be subject sxxxxxx to a general lien and security xxxxxxsx xx Xxrgan interest in Morgan Stanley's favor to secure any indebtedness or other amounts, xxxxxxxxxxx xxx/or liabilities at any time owing from Customer to Morgan Stanley (collectively, the "Customer's Liabilities"). Customxx xxxexx xxxxts Customex xxxxbx xxxxxs Morgan Stanley the right to borrow, pledge, repledge, hypothecate, xxxxxxtxxxxxxrxxxxxxhxxxxx, loan or invest any of the Collateral held by Morgan Stanley, including utilizing the Collateral to purchase Unitxx Xxxtxx Xxxxrnment Unitex Xxxxex Xxxxxnment Treasury obligations pursuant to repurchase agreements or reverse repurchase agreements with any party, in each case without notice to Customer and without any obligation to pay or to account to Customer for any interest, income or benefit that may be derived therefrom. The rights of Morgan Stanley set forth above shall be qualified by any applicable xxxxxrxxxxxx for xxxxxxexxxxx xor segregation of customers' property under Applicable Law. Morgan Stanley commits to Customer that Morgan Stanley will not issxx issux x Xoxxxx Xxtxxx xx Exclusive Control under txx Xxxtxxx Xxxeement thx Xxxxrxx Xxxxement between Morgan Stanley and DWR Morgan Stanley DW unless Morgan Stanley determines there is a xxxxxxt xxxxx this Agreementdeterminex xxxxe xx x xefaulx xxxxr xxxx Xxxxement.