Common use of Status of Securities Intermediary and “Financial Asset” Election Clause in Contracts

Status of Securities Intermediary and “Financial Asset” Election. The parties agree that Securities Intermediary is a securities intermediary, and intend that each item of property (whether investment property, financial asset, security, instrument, cash or other property) held in the Account shall be treated as a “financial asset” within the meaning of Sections 8-102(a)(9) and 8-103 of the UCC.

Status of Securities Intermediary and “Financial Asset” Election. The parties agree that Securities Intermediary is a securities intermediary, and intend that each item of property (whether investment property, financial asset, security, instrument, cash or other property) held in the Account Accounts shall be treated as a “financial asset” within the meaning of Sections 8-102(a)(9) and 8-103 of the UCC.

Status of Securities Intermediary and “Financial Asset” Election. The parties Parties agree that Securities Intermediary is a securities intermediary, intermediary and intend that each item of property (whether investment property, financial asset, security, instrument, cash or other property) held in the Account shall be treated as a “financial asset” within the meaning of Sections 8-102(a)(9) and 8-103 of the UCC.

Status of Securities Intermediary and “Financial Asset” Election. The parties Parties agree that Securities Intermediary is a securities intermediary, and intend that each item of property (whether investment property, financial asset, security, instrument, cash or other property) held in the Account Accounts shall be treated as a “financial asset” within the meaning of Sections 8-102(a)(9) and 8-103 of the UCC.