AGREEMENT FOR CONTROL Sample Clauses
The "Agreement for Control" clause establishes which party has the authority to direct or manage certain aspects of a transaction, asset, or business operation. In practice, this clause may specify who has decision-making power over key issues such as financial management, operational procedures, or strategic direction, and can outline the scope and limitations of such control. Its core function is to clearly allocate control rights, thereby preventing disputes and ensuring that all parties understand who is responsible for making important decisions.
AGREEMENT FOR CONTROL. Intermediary is authorized by Customer and agrees to comply with all entitlement orders originated by Secured Party with respect to the Securities Account, and all other requests or instructions from Secured Party regarding disposition and/or delivery of the Collateral, without further consent or direction from Customer or any other party.
AGREEMENT FOR CONTROL. (a) SVBS and Clearing Broker will comply with all entitlement orders (including requests to withdraw Collateral from the Account) originated by Customer with respect to the Collateral, or any portion of the Collateral, without further consent by Creditor until such time as SVBS receives from Creditor (in accordance with Section 17 below) a written notice to SVBS that Creditor is thereby exercising exclusive control over the Account (a “Notice of Exclusive Control.”). The Notice of Exclusive Control must be in the form set forth in Exhibit B hereto. SVBS or Clearing Broker have no obligation whatsoever to confirm that Creditor is entitled to send a Notice of Exclusive Control in connection with the Account or that the Creditor’s representative who signs any Notice of Exclusive Control is authorized to do so. SVBS and Clearing Broker (upon instruction from SVBS) will, upon SVBS’ receipt of such Notice of Exclusive Control, proceed in accordance with the remainder of this Section 7 even if Creditor’s instructions are contrary to any instructions or demands that Customer may give to SVBS or Clearing Broker. After SVBS receives a Notice of Exclusive Control and has had reasonable opportunity to comply with it, but no later than two (2) Business Days (“Business Days” means days which SVBS is open to the public for business and are measured in 24 hour increments) after receipt of the Notice of Exclusive Control (in accordance with Section 17 below), SVBS and Customer agree that SVBS and Clearing Broker will: (i) cease complying with entitlement orders or other directions concerning the Account and Collateral that are originated by Customer or its representatives until such time as SVBS receives a written notice from Creditor rescinding the Notice of Exclusive Control; and (ii) comply with the entitlement orders and instructions provided to SVBS by Creditor without investigating: the reason for any action taken by Creditor; the amount of any obligations of Customer to Creditor; the validity of any of Creditor’s agreements with Customer; or the existence of any defaults under such agreements.
(b) Notwithstanding the foregoing, Creditor agrees that upon receipt of Creditor’s Notice of Exclusive Control, SVBS and Clearing Broker may take all steps necessary to satisfy or settle any Account Claims, may respond as required pursuant to the terms of any other account control agreement with respect to which SVBS believes it previously received a Notice of Exclusive Contro...
AGREEMENT FOR CONTROL. Bank is authorized by ▇▇▇▇▇▇▇▇ and agrees to comply with all demands made by Secured Party with respect to the Collateral, without further consent or direction from Customer or any other party. Collateral is defined to mean the Deposit Account, including all financial assets now or hereafter credited to the said account, and all replacements or substitutions or other disposition of any kind of the foregoing.
AGREEMENT FOR CONTROL. Custodian is authorized by Customer and Adviser and agrees to honor and comply with all entitlement orders originated by Secured Party with respect to the Custodial Account, and all other requests and instructions from Secured Party regarding disposition and/or delivery of the Collateral, without further consent or direction from Customer, Adviser or any other party.
AGREEMENT FOR CONTROL. (a) SVBS and Clearing Broker will comply with all entitlement orders (including requests to withdraw Collateral from the Account) originated by Customer with respect to the Collateral, or any portion of the Collateral, without further consent by Creditor until such time as SVBS receives from Creditor (in accordance with Section 17 below) a written notice to SVBS that Creditor is thereby exercising exclusive control over the Account (a "Notice of Exclusive Control.") The Notice of Exclusive Control must be in the form set forth in Exhibit B hereto. SVBS or Clearing Broker have no obligation whatsoever to confirm that Creditor is entitled to send a Notice of Exclusive Control in connection with the Account or that the Creditor's representative who signs any Notice of Exclusive Control is authorized to do so. SVBS and Clearing Broker (upon
AGREEMENT FOR CONTROL a. The Bank acknowledges that the Premier CDC has granted SBA a security interest in the Deposit Accounts, which is to be a first priority security interest.
b. The Bank agrees that it will comply with instructions originated by SBA directing the disposition of the funds in the Deposit Accounts without further consent by the Premier CDC. Whenever SBA issues instructions to the Bank, SBA simultaneously will send a copy of such instructions to the Premier CDC.
c. Subject to the provisions of this Agreement, the Premier CDC may make deposits to the Deposit Accounts and shall manage all documentation concerning the Deposit Accounts.
d. With SBA’s prior written consent and subject to the provisions of this Agreement, the Premier CDC retains the right to direct the disposition of funds from the Deposit Accounts, including accrued interest.
e. The Bank and the Premier CDC will enter into any additional agreements or modifications to this Agreement which SBA reasonably deems necessary or desirable in connection with any later-created Deposit Account or otherwise to ensure that SBA has a valid and perfected first priority security interest in all the Deposit Accounts.
f. For purposes of this Agreement, SBA shall be considered a “customer” of the Bank. 2.
AGREEMENT FOR CONTROL. The broker is authorized by the buyer and agrees to comply with all rights orders ordered by the Secure Party in relation to the securities account, and any other requests or instructions from the Insured Party regarding the disposal and/or delivery of collateral, without further consent or instructions from the buyer or any other party.
AGREEMENT FOR CONTROL. (a) Securities Intermediary shall comply with entitlement orders respecting the Account originated by Secured Party without further consent by Pledgor or any other person.
(b) Until notified by Secured Party in writing that Secured Party is exercising exclusive control over the Account, Securities Intermediary shall be entitled to make trades of Assets held in the Account at the direction of Pledgor and comply with entitlement orders concerning the Account from Pledgor.
(c) Notwithstanding the provisions of subparagraph (b) above, Securities Intermediary shall only comply with entitlement orders with respect to Assets held in the account where both before and after complying with such entitlement orders, the market value of Assets in the Account is at least equal to the Credit Support Amount. For purposes of this paragraph 1(c), (i) “market value” shall be determined by Securities Intermediary in a commercially reasonable manner, and (ii) “Credit Support Amount” means $53,158,854, or such other amount as maybe agreed by the Pledgor and Secured Party.
(d) Upon Securities Intermediary’s receipt of written notice from Secured Party that Secured Party is exercising exclusive control over the Account, Securities Intermediary shall promptly cease complying with entitlement orders or other directions concerning the Account originated by Pledgor (including all recurring or standing orders or directions) and shall make no further distributions to Pledgor.
(e) Without limiting the foregoing, upon the instructions of Secured Party, Securities Intermediary shall disburse any or all of the Assets in the Account to Secured Party, or sell some or all of the Assets in the Account or act otherwise upon the entitlement orders and other instructions of the Secured Party, and remit all proceeds thereof (less Securities Intermediary’s normal sales charge) to Secured Party.