Common use of Negotiable Form Clause in Contracts

Negotiable Form. The Grantor hereby represents and warrants that all assets deposited in, or thereafter held in, the Trust Account shall be in such form that the Beneficiary or the Trustee, upon direction by the Beneficiary, may whenever necessary negotiate any such assets, without consent or signature from the Grantor or any other person or entity. The Grantor shall, upon execution of this Agreement, and from time to time thereafter as required, execute assignments or endorsements in blank of all securities or other property standing in the Grantor’s name which are delivered to the Trustee to form a part of the Trust Account so that, whenever necessary, the Trustee can negotiate any such asset without the consent or signature of the Grantor or any person or entity; any assets received by the Trustee which the Trustee determines are not in such proper negotiable form shall not be accepted by the Trustee and shall be returned to the Grantor as unacceptable.