Examples of Other Assets in a sentence
Where the Account has not initiated any activity for an extended period and we have been unable to contact you after reasonable attempts, the Account may be designated as “abandoned” and/or “unclaimed.” Thereafter, the Securities and Other Assets in the Account may be liquidated and transferred to your designated beneficiary or to the appropriate authority subject to the escheatment processes under Applicable Law.
All such Securities and Other Assets shall be subject to a first, perfected and prior lien, security interest and right of set-off and are held as security by DriveLoyalty or its agents for the discharge of any charges relating to the administration or safekeeping of the Securities and Other Assets and/or failure to settle a Transaction by its due settlement date in accordance with this Agreement.
DriveLoyalty will have a continuing security interest in all Securities and Other Assets in the Account as security for payment of any charges relating to the administration or safekeeping of the Securities and Other Assets and/or failure to settle a Transaction by its due settlement date in accordance with this Agreement, without regard to whether DriveLoyalty has made loans with respect to such Securities and Other Assets.
In enforcing its security interest, DriveLoyalty shall have the discretion to determine which Securities and Other Assets are to be sold and the order in which they are to be sold and shall have all the rights and remedies available to a secured creditor under the Uniform Commercial Code of New Jersey as then in effect, in addition to the rights and remedies provided herein or otherwise by Applicable Law.
Securities and Other Assets that you hold in a retirement account(s), which may include Individual Retirement Accounts (IRAs) or qualified plans, are not subject to this general lien; Securities and Other Assets held in your retirement account(s) may only be used to satisfy your debt or other obligations to DriveLoyalty that relate to your retirement account(s).