Collateral Removal; Substitutions Sample Clauses
Collateral Removal; Substitutions. Until Securities Intermediary receives a Notice of Exclusive Control from Secured Party, Securities Intermediary is authorized to act upon any Oral or Written Instructions from Pledgor to transfer Collateral from the Account or substitute other assets for any Collateral then held in the Account (“Substitute Collateral”). It shall be Pledgor’s sole responsibility to ensure that at all times the market value of Collateral in the Account (including Substitute Collateral) shall not be less than the amount Pledgor is required to maintain pursuant to the Collateral Agreement.
Collateral Removal; Substitutions. Until Custodian receives a Notice of Exclusive Control from Administrative Agent, Custodian is authorized to act upon any Written Instructions from Pledgor to transfer, redeem or invest Collateral from the Account or substitute other Collateral for any Collateral then held in the Account ("Substitute Collateral"). It shall be Pledgor's sole responsibility to ensure that at all times the market value of Collateral in the Account (including Substitute Collateral) shall not be less than the amount Pledgor is required to maintain pursuant to the Credit Agreement.
Collateral Removal; Substitutions. Until Securities Intermediary receives a Notice of Exclusive Control from Secured Party, Securities Intermediary is authorized to act upon Oral or Written Instructions, including entitlement orders, from Secured Party and any joint, Written Instructions from Pledgor and Secured Party to transfer Collateral from the Account or substitute other Collateral for any Collateral then held in the Account (“Substitute Collateral”). It shall be Pledgor’s sole responsibility to ensure that at all times the market value of Collateral in the Account (including Substitute Collateral) shall not be less than the amount Pledgor is required to maintain pursuant to the Collateral Agreement.
Collateral Removal; Substitutions. Until Securities Intermediary receives a Notice of Exclusive Control or Notice of Consent Requirement from Secured Party, Securities Intermediary is also authorized to act upon any Written Instructions from Pledgor to transfer Collateral from the Accounts or substitute other assets for any Collateral then held in the Accounts (“Substitute Collateral”). Secured Party may exercise a right to consent to any Written Instructions from Pledgor at any time by delivering to Securities Intermediary a Notice of Consent Requirement. Upon receipt of a Notice of Consent Requirement, Securities Intermediary is not authorized to act upon any Written Instructions originated solely by Pledgor and is authorized to act upon Written Instructions jointly from Secured Party and Pledgor. It shall be Pledgor’s sole responsibility to ensure that at all times the market value of Collateral in the Accounts (including Substitute Collateral) shall not be less than the amount Pledgor is required to maintain pursuant to the Collateral Agreement.
Collateral Removal; Substitutions. Until Securities Intermediary receives a Notice of Exclusive Control from Secured Party, Securities Intermediary is authorized to act upon any Oral or Written Instructions from Pledgor to transfer Collateral from the Account or substitute other Collateral for any Collateral then held in the Account ("Substitute Collateral"). Pledgor shall be solely responsible for determining whether Collateral satisfies the terms of the Securities Loan Agreement and for all determinations of Market Value and Margin Percentage. Pledgor and Secured Party each agree that any transfers of Collateral pursuant to this section may be made free of payment as provided in Section 3 of this Article III. It is understood and agreed that Securities Intermediary shall not have any duty or responsibility whatsoever for determining whether any Collateral satisfies the terms of the Securities Loan Agreement or for determining the Market Value or Margin Percentage of any Collateral.