Revised UCC definition
Examples of Revised UCC in a sentence
If at any time the Depositary shall receive an "entitlement order" (within the meaning of Section 8-102(a)(8) of the Revised UCC) issued by the Holders and relating to the Securities Account, the Depositary shall comply with such entitlement order without further consent by the Company or any other person.
Regardless of any provision in any other agreement, for purposes of the UCC or the Revised UCC, New York shall be deemed to be the Depositary's location and the Securities Account (as well as the securities entitlements related thereto) shall be governed by the Laws of the State of New York.
Except for the claims and interest of the Holders and of the Company in the Securities Account, the Depositary does not know of any claim to, or interest in, the Securities Account or in any "financial Asset" (as defined in Section 8-102(a) of the Revised UCC) credited thereto.
The Depositary hereby agrees that each item of property (whether investment property, financial Asset, security, instrument or cash) comprising the Initial Deposit Amount, Available Funds, Collateral, or any other property otherwise credited to the Securities Account shall be treated as a "financial asset" within the meaning of Section 8-102(a)(9) of the Revised UCC.
If at any time the Disbursement Agent shall receive an "entitlement order" (within the meaning of Section 8-102(a)(8) of the Revised UCC) issued by TEC and relating to the Accounts, the Disbursement Agent shall comply with such entitlement order without further consent by TransTexas or any other Person.