Common use of SUBI Certificates Clause in Contracts

SUBI Certificates. (a) Upon allocation to a SUBI, the related SUBI Assets shall no longer be UTI Assets unless and until reallocated to the UTI. Each SUBI shall constitute a beneficial interest solely in the related SUBI Assets, and shall be represented by one or more Certificates (each, a "SUBI Certificate") issued pursuant to a SUBI Supplement. The Trustee shall deliver each SUBI Certificate to or upon the order of the UTI Beneficiaries. Each SUBI Certificate and the interest in the SUBI evidenced thereby shall constitute a "security" within the meaning of Section 8-102(15) of the UCC.

SUBI Certificates. (a) Upon allocation to a SUBI, the related SUBI Assets shall no longer be UTI Assets unless and until specifically reallocated to the UTIUTI from the SUBI. Each SUBI shall constitute a beneficial interest solely in the related SUBI Assets, Assets and shall be represented by one or more Certificates (each, a "SUBI Certificate") issued pursuant to a SUBI Supplement. The Trustee shall deliver each SUBI Certificate to or upon the order of the UTI BeneficiariesBeneficiary. Each SUBI Certificate and the interest in the SUBI evidenced thereby shall constitute a "certificated security" within the meaning of Section 8-102(15) of the UCC.

SUBI Certificates. (a) Upon allocation to a SUBI, the related SUBI Assets shall no longer be UTI Assets unless and until specifically reallocated to the UTIUTI from the SUBI. Each SUBI shall constitute a beneficial interest solely in the related SUBI Assets, Assets and shall be represented by one or more Certificates certificates (each, a "SUBI Certificate") issued pursuant to a SUBI Supplement. The Trustee shall deliver each SUBI Certificate to or upon the order of the UTI Beneficiaries. Each SUBI Certificate and the interest in the SUBI evidenced thereby shall constitute a "security" within the meaning of Section 8-102(15) of the UCC.