Status of Securities Intermediary. The parties agree that Securities Intermediary is a securities intermediary, and intend that all securities and other property held in the Account shall be treated as financial assets and the Securities Intermediary so agrees to treat all such property as financial assets.
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Status of Securities Intermediary. The parties agree that Securities Intermediary is a securities intermediary, and intend that all securities and other property securities entitlements held in the Account shall be treated as financial assets and the Securities Intermediary so agrees to treat all such property as financial assets.
Appears in 1 contract
Status of Securities Intermediary. The parties agree that Securities Intermediary is a securities intermediary, and intend that all securities and other property held in the Account shall be treated as financial assets and the Securities Intermediary so agrees to treat all such property as financial assets.
Appears in 1 contract
Status of Securities Intermediary. The parties (a) agree that with respect to the Securities Account, Securities Intermediary is a securities intermediary, the Securities Account will be maintained as a securities account and the parties intend that all securities and other property Financial Assets shall be held in the Securities Account shall be treated as financial assets and (b) agree that with respect to the Deposit Account, Securities Intermediary so agrees to treat all such property as financial assetsis a bank and Securities Intermediary shall hold any deposited cash in the Deposit Account.
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Samples: Reimbursement and Pledge Agreement (Montpelier Re Holdings LTD)
