Definition of Possessory Collateral


Possessory Collateral means Portfolio Investments consisting of money or instruments.
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Examples of Possessory Collateral in a sentence

The Company shall take such further action as is required to effectuate the transfer contemplated hereby and shall indemnify the Possessory Collateral Agent for loss or damage suffered by the Possessory Collateral Agent as a result of such transfer except for loss or damage suffered by the Possessory Collateral Agent as a result of its own willful misconduct, gross negligence or bad faith.
Immediately upon termination of this Custodial Agreement, Custodian shall deliver all of the Possessory Collateral in its custody to Lender or a successor custodian specified in writing by Lender at such location as Lender shall specify in writing.
Each such fully-executed Release Request must be received by Custodian at least two (2) Business Days prior to the date that possession of the Possessory Collateral in question is required.
If requested by Lender, the Custodian shall advise Lender by monthly written reports to be provided within ten (10) Business Days following the end of each calendar month, and more frequently upon written request by Lender of a detailed listing of the Possessory Collateral then held by the Custodian and a detailed listing of Possessory Collateral released pursuant to Sections 7 and 8.
Custodian shall have no responsibility with respect to any Possessory Collateral or to notify any party concerning its possession or lack of receipt of any Possessory Collateral except as to those items of Possessory Collateral listed in the listings described in Section 2.23 of this Custodial Agreement.