Financial Asset" Election. The Securities Intermediary hereby agrees that each item of property (whether investment property, financial asset, security, instrument or cash) held in the Securities Account shall be treated as a "financial asset" within the meaning of 8-102(a)(9) of the Uniform Commercial Code.
Financial Asset" Election. The Parties agree that all property credited to the Custody Accounts, including all Cash, will be treated as “financial assets” under Article 8 of the UCC, the Custodian will be acting as “securities intermediary” in maintaining the Custody Accounts within the meaning of Article 8 of the UCC and the Hague Securities Convention, and the Custody Accounts will constitute “securities accounts” within the meaning of Article 8 of the UCC and the Hague Securities Convention with respect to all property credited thereto. The Commonwealth of Massachusetts is the “securities intermediary’s jurisdiction” for purposes of the UCC, and the law in force in the Commonwealth of Massachusetts is applicable to all issues specified in Article 2(1) of the Hague Securities Convention.
Financial Asset" Election. The Securities Intermediary hereby agrees that each item of property (including, without limitation, any investment property, financial asset, security, instrument, general intangible or cash) credited to the Securities Account shall be treated as a "financial asset" within the meaning of Section 8-102(a)(9) of the Uniform Commercial Code as in effect from time to time (including any successor thereto) in the State of New York.
