Common use of Control Agreements Clause in Contracts

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, 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 Borrowers without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's Account.

Appears in 8 contracts

Samples: Loan and Security Agreement (SCB Computer Technology Inc), Loan and Security Agreement (Big Dog Holdings Inc), Loan and Security Agreement (Hudson Highland Group Inc)

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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, AgentLender, 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 Borrowers Borrower without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or Event of Default, Agent 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 AgentLender's Account.

Appears in 8 contracts

Samples: Loan and Security Agreement (I Link Inc), Loan and Security Agreement (Kennedy Wilson Inc), Loan and Security Agreement (Qad 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, AgentLender, 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 Borrowers without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or Event of Default, Agent 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 AgentLender's Account.

Appears in 4 contracts

Samples: Loan and Security Agreement (Synalloy Corp), Loan and Security Agreement (Metalico Inc), Loan and Security Agreement (Cray 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, 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 Borrowers without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or an Event of Default, 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 Agent's ’s Account.

Appears in 3 contracts

Samples: Loan and Security Agreement (Mercator Software Inc), Term Loan and Security Agreement (Cellstar Corp), Loan and Security Agreement (Cellstar 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, 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 Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent'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 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 the applicable BorrowerCompany, 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 Borrowers Companies without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's ’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 SECTION 7.19 and, if to another securities intermediary, unless each of the applicable Borrower, 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 Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's Account.

Appears in 3 contracts

Samples: Loan and Security Agreement (HPSC Inc), Loan and Security Agreement (Foster Wheeler LTD), Loan and Security Agreement (HPSC Inc)

Control Agreements. Each 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 the applicable Borrower, 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 investment property shall be modified by Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent'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. 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, 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 Borrowers without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's Account.

Appears in 2 contracts

Samples: Loan and Security Agreement (Peregrine Systems Inc), Loan and Security Agreement (Frontstep 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, AgentLender, 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 Borrowers Borrower without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or an Event of Default, Agent 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 Agent's Lender’s Account.

Appears in 1 contract

Samples: Loan and Security Agreement (RMH Teleservices 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, 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 Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Big Dog Holdings 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, 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 Borrowers without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's ’s Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Metalico 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 such Borrower, 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 Borrowers any Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of DefaultTriggering Event, 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 Agent's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Prandium 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, AgentLender, 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 Borrowers Borrower in a manner adverse to Lender without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or an Event of Default, Agent 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 Agent's AccountLender’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 7.22 and, if to another securities intermediary, unless each of the applicable Borrower, 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 investment property shall be modified by Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent'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 7.17 and, if to another securities intermediary, unless each of the applicable Borrower, AgentLender, 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 Borrowers without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or Event of Default, Agent 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 AgentLender's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Kroll 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, 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 Borrowers without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Mercury Air Group 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 7.13 and, if to another securities intermediary, unless each of the applicable Borrower, 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 Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or an Event of Default, 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 Agent's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Orbital Sciences Corp /De/)

Control Agreements. Each 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 the applicable Borrower, AgentLender, 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 Borrowers Borrower without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or Event of Default, Agent 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 AgentLender'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 7.20 and, if to another securities intermediary, unless each of the applicable Borrower, AgentLender, 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 Borrowers Borrower without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or an Event of Default, Agent 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 AgentLender's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Harvey Electronics 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, 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 Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent'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, 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 Borrowers without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or an Event of Default, 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 Agent's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Cellstar Corp)

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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, 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 Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's ’s Account.

Appears in 1 contract

Samples: Loan and Security Agreement (BGF 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 7.13 and, if to another securities intermediary, unless each of the applicable Borrower, 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 Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or an Event of Default, 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 Agent's ’s Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Orbital Sciences Corp /De/)

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 the applicable such Borrower, Agentthe 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 Borrowers any Borrower without the prior written consent of Agentthe Lender. Upon the occurrence and during the continuance of a Default or an Event of Default, Agent 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 Agent's AccountLender.

Appears in 1 contract

Samples: Loan and Security Agreement (Zanett Inc)

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, AgentLender, 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 Borrowers Borrower without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or Event of Default, Agent 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 AgentLender'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 and, if to another securities intermediary, unless each of the applicable Borrower, Agent, 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 Borrowers without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Wam Net Inc)

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, 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 Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Etoys 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, AgentLender, 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 Borrowers Borrower without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or Event of Default, Agent 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 AgentLender's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Special Devices Inc /De)

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 such Borrower, Agentthe 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 Borrowers any Borrower without the prior written consent of Agentthe Lender. Upon the occurrence and during the continuance of a Default or an Event of Default, Agent 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 Agent's AccountLender.

Appears in 1 contract

Samples: Loan and Security Agreement (Zanett 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, 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 of Borrower shall be modified by Borrowers Borrower without the prior written consent of Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Agent'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 ------------ and, if to another securities intermediary, unless each of the applicable Borrower, AgentLender, 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 Borrowers without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or Event of Default, Agent 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 AgentLender's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (P Com Inc)

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, AgentLender, 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 Borrowers without the prior written consent of AgentLender. Upon the occurrence and during the continuance of a Default or Event of Default, Agent 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 AgentLender's Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Synavant 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, Administrative 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 Borrowers Borrower without the prior written consent of Administrative Agent. Upon the occurrence and during the continuance of a Event of Default or Event of Potential Default, 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 Administrative Agent's Account.

Appears in 1 contract

Samples: Term Loan and Security Agreement (American Real Estate Partners L P)

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, Collateral 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 Borrowers Borrower without the prior written consent of Collateral Agent. Upon the occurrence and during the continuance of a Default or Event of Default, 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 Collateral Agent's ’s Account.

Appears in 1 contract

Samples: Loan and Security Agreement (Northland Cranberries Inc /Wi/)

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