DTC Letter of Representations (LOR)

Definition:

A letter of agreement between an issuer and the Depository Trust Company (DTC), containing various representations made to DTC by the issuer. This letter is in a standard form prescribed by DTC and is necessary before the issuer’s securities can be deposited with DTC. An issuer can provide a Blanket Letter of Representations (BLOR) with respect to programs and future issuances or an Issuer Letter of Representations (ILOR) for a particular issuance.

See also Blanket Letter of Representations (BLOR) and Issuer Letter of Representations (ILOR).

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