Common use of Transfer Upon Realization of Pledged, Mortgaged or Charged Escrowed Securities Clause in Contracts

Transfer Upon Realization of Pledged, Mortgaged or Charged Escrowed Securities. (1) You may transfer within escrow to a financial institution the Escrowed Securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan. (2) Prior to the transfer the Escrow Agent must receive: (a) a statutory declaration of an officer of the financial institution that the financial institution is legally entitled to the Escrowed Securities; (b) a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and (c) an acknowledgement in the form of Schedule “B” signed by the financial institution. (3) Within 10 days after the transfer, the transferee of the Escrowed Securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.

Transfer Upon Realization of Pledged, Mortgaged or Charged Escrowed Securities. (1) You may transfer within escrow to a financial institution the Escrowed Securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan. (2) Prior to the transfer the Escrow Agent must receive: (a) a statutory declaration of an officer of the financial institution that the financial institution is legally entitled to the Escrowed Securities; (b) a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and (c) an acknowledgement in the form of Schedule “"B” " signed by the financial institution. (3) Within 10 days after the transfer, the transferee of the Escrowed Securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.

Transfer Upon Realization of Pledged, Mortgaged or Charged Escrowed Securities. (1a) You may transfer within escrow to a financial institution the Escrowed Securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan. (2b) Prior to the transfer the Escrow Agent must receive: (ai) a statutory declaration of an officer of the financial institution that the financial institution is legally entitled to the Escrowed Securities; (bii) a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s 's transfer agent; and (ciii) an acknowledgement in the form of Schedule “"B” " signed by the financial institution. (3c) Within 10 ten (10) days after the transfer, the transferee of the Escrowed Securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.

Transfer Upon Realization of Pledged, Mortgaged or Charged Escrowed Securities. (1) You may transfer within escrow to a financial institution the Escrowed Securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan. (2) Prior to the transfer the Escrow Agent must receive: (a) a statutory declaration of an officer of the financial institution that the financial institution is legally entitled to the Escrowed Securities; (b) a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and (c) an acknowledgement in the form of Schedule “B” signed by the financial institution. (3) Within 10 days after the transfer, the transferee of the Escrowed Securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.issuer.‌