Common use of The Securities Intermediary Clause in Contracts

The Securities Intermediary. (a) There shall at all times be one or more Securities Intermediaries. The Issuer hereby appoints U.S. Bank National Association as the initial Securities Intermediary hereunder and U.S. Bank National Association accepts such appointment. (b) The Securities Intermediary hereby represents and warrants and agrees with the Issuer and for the benefit of the Indenture Trustee as follows: (i) The Indenture Trustee is a “securities intermediary,” as such term is defined in Section 8-102(a)(14)(B) of the New York UCC, that in the ordinary course of its business maintains “securities accounts” for others, as such term is used in Section 8-501 of the New York UCC; (ii) Pursuant to Section 10.10, the “securities intermediary’s jurisdiction” as defined in the New York UCC shall be the State of New York; and (iii) The Indenture Trustee is not a “clearing corporation”, as such term is defined in Section 8-102(a)(5) of the New York UCC.

The Securities Intermediary. (a) There shall at all times be one or more Securities Intermediaries. The Issuer hereby appoints U.S. Bank National Association as the initial Securities Intermediary hereunder and U.S. Bank National Association accepts such appointment. (b) The Securities Intermediary hereby represents and warrants and agrees with the Issuer and for the benefit of the Indenture Trustee as follows: (i) The Indenture Trustee Securities Intermediary is a “securities intermediary,” as such term is defined in Section 8-102(a)(14)(B) of the New York UCC, that in the ordinary course of its business maintains “securities accounts” for others, as such term is used in Section 8-501 of the New York UCC; (ii) Pursuant to Section 10.10, the “securities intermediary’s jurisdiction” as defined in the New York UCC shall be the State of New York; and (iii) The Indenture Trustee Securities Intermediary is not a “clearing corporation”, as such term is defined in Section 8-102(a)(5) of the New York UCC.