In this instrument…“intermediary” means, for a security, a person or company that, in connection with its business, holds the security on behalf of another person or company, and that is not
(a) a person or company that holds the security only as a custodian, and is not the registered securityholder of the security nor holding the security as a participant in a depository,
(b) a depository, or
(c) a beneficial owner of the security;