Collateral Agent in Control of Securities Accounts. Each of the parties hereto hereby agrees that: (i) the Securities Accounts are and shall be treated as “securities accounts” (within the meaning of Section 8-501(a) of the UCC) and the Collateral Agent is the “entitlement holder” (within the meaning of Section 8-102(a)(7) of the UCC) of such Accounts; (ii) the Deposit Accounts are “deposit accounts” (within the meaning of Section 9-102(a)(29) of the UCC) and the Collateral Agent is the “customer” (within the meaning of Section 4-104(1)(e) of the UCC) of such Accounts; (iii) all Collateral in the form of cash held by the Intermediary shall be held in a Deposit Account, which may be a subaccount of another Account; (iv) the Intermediary shall not change the name or account number of any of the Accounts without the prior written consent of the Collateral Agent, and, so long as no Event of Default has occurred and is continuing under this Agreement, without the prior written consent of the Company; (v) each Account shall at all times be held and maintained through an office of the Securities Intermediary or the Bank, as applicable, located in the State of New York or the Commonwealth of Massachusetts; and (vi) all Collateral delivered to the Intermediary pursuant to this Agreement will be promptly credited to the appropriate Account, subject to the terms of this Agreement.
Appears in 7 contracts
Samples: Loan and Security Agreement (Goldman Sachs Private Middle Market Credit LLC), Loan and Security Agreement (Goldman Sachs Private Middle Market Credit LLC), Loan and Security Agreement (Goldman Sachs Private Middle Market Credit LLC)
Collateral Agent in Control of Securities Accounts. Each of the parties hereto hereby agrees that:
(i) the Securities Accounts are and shall be treated as “"securities accounts” " (within the meaning of Section 8-501(a8‑501(a) of the UCC) and the Collateral Agent is the “"entitlement holder” " (within the meaning of Section 8-102(a)(7) of the UCC) of such Accounts;
(ii) the Deposit Accounts are “"deposit accounts” " (within the meaning of Section 9-102(a)(29) of the UCC) and the Collateral Agent is the “"customer” " (within the meaning of Section 4-104(1)(e) of the UCC) of such Accounts;
(iii) all Collateral in the form of cash held by the Intermediary shall be held in a Deposit Account, which may be a subaccount of another Account;
(iv) the Intermediary shall not change the name or account number of any of the Accounts without the prior written consent of the Collateral Agent, and, so long as no Event of Default has occurred and is continuing under this Agreement, without the prior written consent of the Company;
(v) each Account shall at all times be held and maintained through an office of the Securities Intermediary or the Bank, as applicable, located in the State of New York or the Commonwealth of Massachusetts; and
(vi) all Collateral delivered to the Intermediary pursuant to this Agreement will be promptly credited to the appropriate Account, subject to the terms of this Agreement.
Appears in 2 contracts
Samples: Loan and Security Agreement (Goldman Sachs Private Middle Market Credit LLC), Loan and Security Agreement (Goldman Sachs Private Middle Market Credit LLC)
Collateral Agent in Control of Securities Accounts. Each of the parties hereto hereby agrees that:
(i) the Securities Accounts are and shall be treated as “"securities accounts” " (within the meaning of Section 8-501(a) of the UCC) and the Collateral Agent is the “"entitlement holder” " (within the meaning of Section 8-102(a)(7) of the UCC) of such Accounts;
(ii) the Deposit Accounts are “"deposit accounts” " (within the meaning of Section 9-9- 102(a)(29) of the UCC) and the Collateral Agent is the “"customer” " (within the meaning of Section 4-4- 104(1)(e) of the UCC) of such Accounts;
(iii) all Collateral in the form of cash held by the Intermediary shall be held in a Deposit Account, which may be a subaccount of another Account;
(iv) the Intermediary shall not change the name or account number of any of the Accounts without the prior written consent of the Collateral Agent, and, so long as no Event of Default has occurred and is continuing under this Agreement, without the prior written consent of the Company;
(v) each Account shall at all times be held and maintained through an office of the Securities Intermediary or the Bank, as applicable, located in the State of New York or the Commonwealth of Massachusetts; and
(vi) all Collateral delivered to the Intermediary pursuant to this Agreement will be promptly credited to the appropriate Account, subject to the terms of this Agreement.
Appears in 1 contract
Samples: Loan and Security Agreement (Goldman Sachs Private Middle Market Credit LLC)