Fungibility. Securities held by Custodian hereunder, directly or indirectly through a Securities Depository, may be treated as fungible with other identical securities of the same issue pursuant to the provisions of the Uniform Commercial Code of the State of New York (or other applicable laws).
Appears in 5 contracts
Sources: Custody Agreement (Prudential Series Fund Inc), Custody Agreement (Prudential Variable Contract Account 10), Custody Agreement (Prudential Variable Contract Account 11)