Common use of Transaction Security Clause in Contracts

Transaction Security. Subject to the Legal Reservations, each Security Document to which it is a party validly creates the Security which is expressed to be created by that Security Document and evidences the Security it is expressed to evidence.

Transaction Security. Subject to the Legal Reservations, each Transaction Security Document to which it is a party validly creates the Security which is expressed to be created by that Transaction Security Document and evidences the Security it is expressed to evidenceevidence provided that no representation or warranty is given concerning whether any Security is of a fixed or floating nature.