Rehypothecation Sample Clauses
A rehypothecation clause allows a financial institution, such as a broker or lender, to use assets pledged as collateral by a client for its own purposes, such as securing its own borrowing or meeting other obligations. In practice, this means that if a client provides securities as collateral for a margin loan, the institution may re-use those securities in its own transactions, subject to any agreed limits or regulatory restrictions. The core function of this clause is to provide liquidity and flexibility to financial institutions, while also clarifying the rights and risks for clients whose assets may be re-used in this manner.
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Rehypothecation. (a) Customer expressly grants each BNPP Entity the right, to the fullest extent that it may effectively do so under Applicable Law and subject to the terms and conditions of this Rehypothecation Agreement, (i) to use or invest cash Collateral at its own risk and (ii) to re-register the Collateral in its own name or in another name other than Customer’s, to use or invest the proceeds of any securities lending transaction at its own risk, and to pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use the Collateral (the “Hypothecated Securities”), as principal and not as agent of Customer, with all attendant rights of ownership except as provided below. For the purposes of the return of any Hypothecated Securities to Customer, BNPP PB’s return obligations shall be satisfied by delivering the Hypothecated Securities or securities identical to such Hypothecated Securities (such securities having the same cusip number as the subject Hypothecated Securities, or in the case of a reorganization or recapitalization of the issuer, the equivalent of the subject Hypothecated Securities) (“Equivalent Securities”). For the avoidance of doubt, Customer hereby grants BNPP PB its consent to hypothecate its securities for the purposes of Rule 15c2-1(a)(1) of the Exchange Act, subject to the limits of this Agreement.
(b) Collateral held by Custodian (including any successor thereto, the “Custodian”) pursuant to the Special Custody and Pledge Agreement between BNPP PB, Customer, and Custodian (the “Special Custody Agreement”) (such Collateral, the “Margin Collateral”) shall be transferred to BNPP PB for purposes of rehypothecation only against a request to Custodian for release of Margin Collateral (“Hypothecation Request”) that meets the following requirements: (i) the Hypothecation Request is issued by a duly authorized representative of BNPP PB in accordance with the requirements for instructions set forth for in the Special Custody Agreement, (ii) subject to Section 2(c)(B), the fair market value of the securities which are subject to the Hypothecation Request, together with the value of any outstanding Hypothecated Securities, shall not exceed the value of the loan against which the Margin Collateral was pledged (“Hypothecation Limit”), provided that if the Maximum Commitment Financing (as defined in the Committed Facility Agreement) is increased pursuant to the mutual agreement of the parties, then the fair market value of the securities w...
Rehypothecation. Lender shall have the right to sell, pledge, rehypothecate, assign, invest, use, commingle or otherwise dispose of, or otherwise use in its business any Collateral it holds, free from any claim or right of any nature whatsoever of the Borrower, including any equity or right of redemption by the Borrower, and register any Collateral in the name of Lender or its custodian, if applicable. For purposes of satisfying the rights and obligations of both parties pursuant to this Agreement, Lender will be deemed to continue to hold all Collateral, regardless of whether the Lender has exercised any rights with respect to Collateral pursuant to this section, provided that if Lender is required to return all or any portion of the Collateral to Borrower under the terms of this Agreement, it shall return the Collateral in a form fungible with the Collateral originally provided by the Borrower (for example, if the Borrower original posted a Digital Currency as Collateral, Lender must return Digital Currency of the same kind).
Rehypothecation. Customer expressly grants the BofA Entities the right, to the fullest extent that it may effectively do so under Applicable Law and without notice to Customer, (a) to hold and re-register the Collateral in their own name or in another name other than Customer’s, and to pledge, repledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use any amount of the Collateral, separately or together with other amounts of the Collateral, with all attendant rights of ownership (including the right to vote the securities), for the sum due to any of the BofA Entities, or for a greater sum and for a period of time longer than the Obligations or Contracts with respect to which such Collateral was pledged, and without retaining in their possession and control a like amount of similar Collateral and (b) to use or invest cash Collateral at its own risk. For the purposes of the return of any Collateral to Customer, the BofA Entities’ return obligations shall be satisfied by delivering securities of the same issuer, class and quantity as the Collateral initially transferred. For the avoidance of doubt, Customer hereby grants the BofA Entities its consent to hypothecate its securities for the purposes of Rule 15c2-1(a)(1) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Rehypothecation. Prior to the occurrence of an Event of Default, Lender agrees not to rehypothecate, pledge, sell, assign, invest, lend, use, commingle or otherwise dispose of, or otherwise use in its business, the SINA Shares or any other Securities standing to the credit of the Collateral Account during the term of this Agreement; provided that the foregoing shall not restrict (a) where or by whom the SINA Shares or such other Securities may be held for purposes of perfecting the Liens granted under the Pledge Agreement, or (b) Lender’s right to assign the Obligations and the SINA Shares and such other Securities in accordance with Section 7.06 below.
Rehypothecation. The Client agrees and authorises APM to borrow, lend, appropriate, dispose of or otherwise use for APM’s own purposes, from time to time, all non-cash margin accepted by APM from the Client and, to the extent that APM does, APM acknowledges that the relevant non-cash margin will be transferred to a proprietary account belonging to APM (or to any other account selected by APM from time to time) by way of absolute transfer and such margin will become the absolute property of APM’s (or that of APM transferee) free from any security interest under this Agreement and from any equity, right, title or interest of the Client’s. Upon any such rehypothecation by APM the Client will have a right against APM for the delivery of property, cash, or securities of an identical type, nominal value, description and amount to the rehypothecated non- cash margin, which, upon being delivered back to the Client, will become subject to the provisions of this Agreement.
Rehypothecation the Client agrees and authorises APM to borrow, lend, appropriate, dispose of or otherwise Use for APM’s own purposes, from time to time, all non-cash margin accepted by APM from the Client and, to the extent that APM does, APM acknowledges that the relevant non-cash margin will be transferred to a proprietary account belonging to APM (or to any other account selected by APM from time to time) by way of absolute transfer and such margin will become the absolute property of APM’s (or that of APM transferee) free from any security interest under this Agreement and from any equity, right, title or interest of the Client’s. Upon any such rehypothecation by APM the Client will have a right against APM for the delivery of property, cash, or securities of an identical type, nominal value, description and amount to the rehypothecated non- cash margin, which, upon being delivered back to the Client, will become subject to the provisions of this Agreement. APM agrees to credit to the Client, as soon as reasonably practicable following receipt by APM, and as applicable, a sum of money or property equivalent to (and in the same currency as) the type and amount of income (including interest, dividends or other distributions whatsoever with respect to the non-cash margin) that would be received by the Client in respect of such non-cash margin assuming that such non-cash margin was not rehypothecated by APM and was retained by the Client on the date on which such income was paid.
Rehypothecation. Prior to the occurrence of an Event of Default, Secured Party and Custodian agree not to rehypothecate, pledge, sell, assign, invest, lend, use, commingle or otherwise dispose of, or otherwise use in its business, the SINA Shares or any other Securities standing to the credit of the Collateral Account during the term of this Agreement; provided that the foregoing shall not restrict (i) where or by whom the Certificates, the SINA Shares, or such other Securities may be held for purposes of perfecting the Liens granted under the Pledge Agreement, or (ii) Secured Party’s right to assign the Secured Obligations, the SINA Shares and such other Securities in accordance with clause (k) below.
Rehypothecation. Administrative Agent may, in its sole and absolute discretion, transfer or assign, in whole or in part, its respective right, title and interest, including its security interest, in any or all of the Purchased Mortgage Loans and other Purchased Assets. Administrative Agent shall have free and unrestricted use of all Purchased Mortgage Loans and nothing shall preclude Administrative Agent from engaging in repurchase transactions with such Purchased Mortgage Loans or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating such Purchased Mortgage Loans; provided, that no such transaction shall affect the obligations of Administrative Agent to transfer the Purchased Mortgage Loans to Seller on the Repurchase Date free and clear of any pledge, Lien, security interest, encumbrance, charge or other adverse claim. Administrative Agent shall have the right to assign any applicable representations and warranties set forth in Schedule 6.23 in connection with any repurchase transaction or other pledge or hypothecation any or all of the Purchased Mortgage Loans and other Purchased Assets, and each counterparty under any such repurchase transaction shall be a repledgee as contemplated by Section 9-207 and Section 9-623 of the UCC. Nothing contained in this Agreement shall obligate Administrative Agent to segregate the Purchased Mortgage Loans delivered to Administrative Agent.
Rehypothecation. Lender shall have the right to sell, pledge, rehypothecate, assign, invest, commingle, otherwise dispose of, or otherwise use in its business any Posted Collateral, free from any claim or right of any nature whatsoever of Borrower, subject only to Lender’s obligation to return the Posted Collateral to Borrower in accordance with the terms specified herein.
Rehypothecation. (a) Paragraph 8 of the Master Repurchase Agreement is amended by deleting "or pay Income" in the ninth line thereof and deleting the comma in the tenth line thereof.
(b) Buyer may at its sole election engage in repurchase transactions with the Purchased Securities or otherwise pledge, hypothecate, assign, transfer or otherwise convey the Purchased Securities with a counterparty of Buyer's choice; PROVIDED, HOWEVER, that no such transaction by Buyer shall relieve Buyer of its obligations to WFC in connection with the repurchase by WFC of any Purchased Securities in accordance with the terms of this Agreement and the relevant Confirmation.