Common use of Acknowledgement of Security Interest Clause in Contracts

Acknowledgement of Security Interest. The Securities Intermediary hereby acknowledges the Program Agent’s security interest in the Collateral Accounts for the benefit of the Secured Parties, all cash deposited or held in or to the credit of the Collateral Accounts, all investment property (as defined in Section 9-102(a) of the UCC) from time to time credited to the Collateral Accounts and all Proceeds of such assets and property including, without limitation, all interest, dividends, stock dividends, stock splits and other money or property of any kind received, receivable, distributed or distributable in respect of such assets or property (collectively, the “Control Assets”). From time to time prior to the Securities Intermediary’s receipt of a Notice of Exclusive Control and after all previous Notices of Exclusive Control have been revoked in writing by the Program Agent, the Borrower shall designate in writing to the Securities Intermediary the Assets to be credited to the Collateral Accounts and the Securities Intermediary shall credit such Assets to the Collateral Accounts.

Acknowledgement of Security Interest. The Securities Intermediary hereby acknowledges the Program Administrative Agent’s security interest in the Collateral Accounts for the benefit of the Secured PartiesAccount, all cash deposited or held in or to the credit of the Collateral AccountsAccount, all investment property (as defined in Section 9-102(a) 102 of the UCC) from time to time credited to the Collateral Accounts Account and all Proceeds of such assets and property including, without limitation, all interest, dividends, stock dividends, stock splits and other money or property of any kind received, receivable, distributed or distributable in respect of such assets or property (collectively, the “Control Assets”). From time to time prior to the Securities Intermediary’s receipt of a Notice of Exclusive Control and after all previous Notices of Exclusive Control have been revoked in writing by the Program Administrative Agent, the Borrower shall designate in writing to the Securities Intermediary the Assets to be credited to the Collateral Accounts Account and the Securities Intermediary shall credit such Assets to the Collateral AccountsAccount.