Common use of Use of Securities System Clause in Contracts

Use of Securities System. With respect to Property in an Account which is maintained by the Custodian through a Securities System in which it participates pursuant to Section 6: (a) The Custodian shall identify on its books such Property as being maintained for the account of the Custodian for its customers. (b) The Custodian's agreement with such Security System shall provide that Property deposited with a Securities System will be maintained in an account holding only assets for customers of the Custodian unless precluded by applicable law, rule or regulation. (c) The Custodian shall provide to the Issuer, with a copy to the Master Servicer, any non-confidential report obtained by the Custodian on the Securities System's accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System. It is understood and agreed that the Custodian's agreement with a Securities System will be subject to the generally applicable rules and regulations of such Securities System, and that the Custodian shall not be liable for a breach of such agreement by such Securities System.

Use of Securities System. With respect to Property in an Account which is maintained by the Custodian through a Securities System in which it participates pursuant to Section 6: (a) The Custodian shall identify on its books such Property as being maintained for the account of the Custodian for its customers. (b) The Custodian's ’s agreement with such Security System shall provide that Property deposited with a Securities System will be maintained in an account holding only assets for customers of the Custodian unless precluded by applicable law, rule or regulation. (c) The Custodian shall provide to the Issuer, with a copy to the Master Servicer, any non-confidential report obtained by the Custodian on the Securities System's ’s accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System. It is understood and agreed that the Custodian's ’s agreement with a Securities System will be subject to the generally applicable rules and regulations of such Securities System, and that the Custodian shall not be liable for a breach of such agreement by such Securities System.

Use of Securities System. With respect to Property in an Account which is maintained by the Custodian through a Securities System in which it participates pursuant to Section 6: (a) The Custodian shall identify on its books such Property as being maintained for the account of the Custodian for its customers. (b) The Custodian's ’s agreement with such Security System shall provide that Property deposited with a Securities System will be maintained in an account holding only assets for customers of the Custodian unless precluded by applicable law, rule or regulation. (c) The Custodian shall provide to the Issuer, with a copy to the Master Servicer, any non-confidential report obtained by the Custodian on the Securities System's ’s accounting system, internal accounting control and procedures for safeguarding securities deposited in the Securities System. It is understood and agreed that the Custodian's ’s agreement with a Securities System will be subject to the generally applicable rules and regulations of such Securities System, and that the Custodian shall not be liable for a breach of such agreement by such Securities System.