Common use of Segregation of Assets; Nominee Name Clause in Contracts

Segregation of Assets; Nominee Name. (a) Bank will identify in its books that Financial Assets credited to Customer’s Securities Account belong to Customer (except as otherwise may be agreed by Bank and Customer). (b) Bank is authorized, in its discretion: (i) to hold in bearer form, such Financial Assets as are customarily held in bearer form or are delivered to Bank in bearer form; (ii) to hold Financial Assets in or deposit Financial Assets with any Securities Depository or settlement system; (iii) to hold Financial Assets in omnibus accounts on a fungible basis and to accept delivery of Financial Assets of the same class and denomination as those deposited with Bank; and (iv) to register in the name of Customer, Bank, a Securities Depository, or their respective nominees, such Financial Assets as are customarily held in registered form.

Segregation of Assets; Nominee Name. (a) Bank will identify in its books that Financial Assets credited to Customer’s Securities Account belong to Customer (except as otherwise may be agreed by Bank and Customer). (b) Bank is authorized, in its discretion: (i) to hold in bearer form, such Financial Assets as are customarily held in bearer form or are delivered to Bank in bearer form; (ii) to hold Financial Assets in or deposit Financial Assets with any Securities Depository or settlement system; (iii) to hold Financial Assets in Bank’s omnibus accounts at any Securities Depositories or settlement system on a fungible basis and to accept delivery of Financial Assets of the same class and denomination as those deposited with Bank; and (iv) to register in the name of Customer, Bank, a Securities Depository, or their respective nominees, such Financial Assets as are customarily held in registered form.