Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 8 contracts
Samples: Loan and Security Agreement (I Link Inc), Loan and Security Agreement (Equifin Inc), Loan and Security Agreement (Intervoice Brite Inc)
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 8 contracts
Samples: Loan and Security Agreement (Hudson Highland Group Inc), Loan and Security Agreement (Hudson Highland Group Inc), Loan and Security Agreement (SCB Computer Technology Inc)
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of the applicable Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 4 contracts
Samples: Loan Agreement (Synalloy Corp), Loan and Security Agreement (Metalico Inc), Loan and Security Agreement (Futurelink Corp)
Control Agreements. Borrower Each Company agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrowerthe applicable Company, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Companies without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Agent’s Account.
Appears in 3 contracts
Samples: Loan and Security Agreement (Telos Corp), Loan and Security Agreement (Telos Corp), Loan and Security Agreement (Telos Corp)
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or an Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Agent’s Account.
Appears in 3 contracts
Samples: Term Loan and Security Agreement (Cellstar Corp), Loan and Security Agreement (Cellstar Corp), Loan and Security Agreement (Mercator Software Inc)
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section SECTION 7.19 and, if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 3 contracts
Samples: Loan and Security Agreement (HPSC Inc), Loan and Security Agreement (HPSC Inc), Loan and Security Agreement (Foster Wheeler LTD)
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 3 contracts
Samples: Loan and Security Agreement (En Pointe Technologies Inc), Loan and Security Agreement (Leapfrog Enterprises Inc), Loan and Security Agreement (Northland Cranberries Inc /Wi/)
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section SECTION 7.19 and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 2 contracts
Samples: Loan and Security Agreement (Peregrine Systems Inc), Loan and Security Agreement (Frontstep Inc)
Control Agreements. Borrower hereby agrees that it will not transfer ------------------ assets out of any Securities Accounts other than as permitted under Section 7.19 7.22 ------------ and, if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property investment property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate or transfer the applicable Securities Account or any related Investment Property investment property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 2 contracts
Samples: Loan and Security Agreement (System Software Associates Inc), Loan and Security Agreement (System Software Associates Inc)
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Agent’s Account.
Appears in 1 contract
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Agent’s Account.
Appears in 1 contract
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section SECTION 7.19 and, if to another securities intermediary, unless each of the applicable Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 1 contract
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 7.13 and, if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or an Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Agent’s Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Orbital Sciences Corp /De/)
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 7.22 and, if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property investment property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate or transfer the applicable Securities Account or any related Investment Property investment property maintained or held thereby and remit the proceeds thereof to the Lender's Agent Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Employee Solutions Inc)
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of such Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by any Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of DefaultTriggering Event, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower in a manner adverse to Lender without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or an Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account’s Account to be applied to payment of the Obligations in accordance with Section 2.3(b).
Appears in 1 contract
Samples: Loan and Security Agreement (Fortegra Financial Corp)
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or 42 by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Special Devices Inc /De)
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section SECTION 7.19 and, if to another securities intermediary, unless each of Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control 41 Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 1 contract
Samples: Loan and Security Agreement (MRS Fields Holding Co Inc)
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 7.17 and, if to another securities intermediary, unless each of such Borrower, the Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by any Borrower without the prior written consent of the Lender. Upon the occurrence and during the continuance of a Default or an Event of Default, the Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 1 contract
Control Agreements. Each Borrower agrees that it will not transfer ------------------ assets out of any Securities Accounts other than as permitted under Section 7.19 7.18 ------------ and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Control Agreements. Each Borrower agrees that it will not transfer ------------------ assets out of any Securities Accounts other than as permitted under Section 7.19 ------------ and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or an Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section SECTION 7.19 and, if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 7.13 and, if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or an Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Orbital Sciences Corp /De/)
Control Agreements. Borrower agrees that it will not transfer assets ------------------ out of any Securities Accounts other than as permitted under Section 7.19 5-29 and, if to another securities intermediary, unless each of Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 1 contract
Samples: Loan and Security Agreement (National Home Centers Inc)
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 SECTION 7.17 and, if to another securities intermediary, unless each of such Borrower, the Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by any Borrower without the prior written consent of the Lender. Upon the occurrence and during the continuance of a Default or an Event of Default, the Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 1 contract
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or an Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's ’s Account.
Appears in 1 contract
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 7.17 and, if to another securities intermediary, unless each of the applicable Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 1 contract
Control Agreements. Borrower agrees that it will not transfer assets ------------------ out of any Securities Accounts other than as permitted under Section 7.19 and, ------------ if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Samples: Loan and Security Agreement (DSG International LTD)
Control Agreements. Each Borrower agrees that it will not transfer ------------------ assets out of any Securities Accounts other than as permitted under Section 7.19 ------------ and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, LenderCollateral Agent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderCollateral Agent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Collateral Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Collateral Agent’s Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Northland Cranberries Inc /Wi/)
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 ------------ and, if to another securities intermediary, unless each of the applicable Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 1 contract
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 7.20 and, if to another securities intermediary, unless each of Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or an Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Harvey Electronics Inc)
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, LenderAdministrative Agent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of LenderAdministrative Agent. Upon the occurrence and during the continuance of a Event of Default or Event of Potential Default, Lender Administrative Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAdministrative Agent's Account.
Appears in 1 contract
Samples: Term Loan and Security Agreement (American Real Estate Partners L P)
Control Agreements. Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property of Borrower shall be modified by Borrower without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Communications & Power Industries Inc)
Control Agreements. Each Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 7.18 and, if to another securities intermediary, unless each of the applicable Borrower, LenderAgent, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower Borrowers without the prior written consent of LenderAgent. Upon the occurrence and during the continuance of a Default or Event of Default, Lender Agent may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the LenderAgent's Account.
Appears in 1 contract
Samples: Loan and Security Agreement (Mercury Air Group Inc)