TITLE TO SECURITIES; RESTRICTED SHARES. The Participant represents that upon delivery of a portfolio of Deposit Securities to a Fund's custodian, the Fund will acquire good and unencumbered title to such securities, free and clear of all liens, restrictions, charges and encumbrances and not subject to any adverse claims, including, without limitation, any special restriction upon the sale or transfer of such securities imposed by (i) any agreement or arrangement entered into by the Participant or any party for which it is acting in connection with a Creation Order or (ii) any provision of the Securities Act, and any regulations thereunder (except that portfolio securities of issuers other than U.S. issuers shall not be required to have been registered under the Securities Act if exempt from such registration), or of the applicable laws or regulations of any other applicable jurisdiction.
Appears in 13 contracts
Samples: Participant Agreement (First Trust Exchange-Traded Fund Vi), Participant Agreement (First Trust Exchange-Traded Fund Ii), Participant Agreement (First Trust Exchange-Traded Fund Ii)
