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. Except as otherwise specified below, Customer expressly directs and grants Cowen the right, to the fullest extent that it may effectively do so under Applicable Law and without further notice to Customer (but, in any event, subject to Rule 15c3-3 under the Exchange Act, as amended (“Rule 15c3-3”)) for and on behalf of each Customer Account, (a) to hold and re-register the Collateral in its 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 Cowen, 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 its possession and control a like amount of similar Collateral and (b) to use or invest cash Collateral at its own risk. In the event that Cowen pledges, repledges, hypothecates or rehypothecates any Collateral, Cowen may receive and retain certain benefits to which the Customer will not be entitled. Any dividend, interest payment or other distribution paid in respect of such Collateral will be re-classified as a “substitute payment” and credited to Customer’s Account. The tax consequences of receiving a substitute payment are, or may be, different than the consequences realized from the receipt of a payment made directly in respect of the Collateral. Customer will generally not be able to exercise voting rights in respect of Collateral pledged, repledged, borrowed, hypothecated or rehypothecated by Cowen. For the purposes of the return of any Collateral to Customer, ▇▇▇▇▇’▇ return obligations shall be satisfied by delivering securities or other financial assets of the same issuer, class and quantity as the Collateral initially transferred. For the avoidance of doubt, Customer hereby grants Cowen 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. 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. 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.
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. (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.
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. 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. 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. (a) Use. Unless prohibited by Applicable Laws, you expressly authorize JPMS (i) to hold and register any Securities which constitute Margin hereunder in the name of JPMS or in another name other than your name, (ii) to pledge, repledged, hypothecate, rehypothecate, sell, lend or otherwise transfer or use any amount of the securities which constitute Margin hereunder (collectively with any of the uses described in clause (i), “Used”) either separately or in common with other property for any amounts due to JPMS thereon, and for a greater sum than, and for periods longer than, your Obligations, and ▇▇ ▇▇▇▇▇▇ shall have no obligation to retain a like amount of similar property in its possession and control, and (iii) to use or invest cash Margin at its own risk.
Rehypothecation. You agree and authorise us to borrow, lend, appropriate, dispose of or otherwise use for our own purposes, from time to time, all non-cash margin accepted by us from you and, to the extent that we do, we both acknowledge that the relevant non-cash margin will be transferred to a proprietary account belonging to us (or to any other account selected by us from time to time) by way of absolute transfer and such margin will become the absolute property of ours (or that of our transferee) free from any security interest under this Agreement and from any equity, right, title or interest of yours. Upon any such rehypothecation by us you will have a right against us 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 you, will become subject to the provisions of this Agreement. We agree to credit to you, as soon as reasonably practicable following receipt by us, 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 you in respect of such non-cash margin assuming that such non-cash margin was not rehypothecated by us and was retained by you on the date on which such income was paid.