Common use of Control by Administrative Agent Clause in Contracts

Control by Administrative Agent. The Account Holder will comply with: (a) instructions directing disposition of the funds in any and all of the Accounts, (b) notifications that the Account Holder receives directing it to transfer funds in any and all of the Accounts, and (c) other directions concerning any and all of the Accounts, including directions to distribute to the Administrative Agent proceeds of any such transfer or interest or any and all of the Accounts (any such instruction, notification or direction referred to in clause (a), (b) or (c) above being an "ACCOUNT DIRECTION"), in each case of clauses (a), (b) and (c) above originated by the Administrative Agent without further consent by the Grantor or any other Person.

Appears in 1 contract

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

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Control by Administrative Agent. The Account Holder will comply with: (a) all instructions directing disposition of the funds in any and all of the Accounts, (b) all notifications and entitlement orders that the Account Holder receives directing it to transfer funds or redeem any financial asset in any and all of the Accounts, and (c) all other directions concerning any and all of the Accounts, including directions to distribute to the Administrative Agent proceeds of any such transfer or redemption or interest or dividends on property in any and all of the Accounts (any such instruction, notification or direction referred to in clause (a), (b) or (c) above being an "ACCOUNT DIRECTION"), in each case of clauses (a), (b) and (c) above originated by the Administrative Agent without further consent by the Grantor or any other Person.

Appears in 1 contract

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

Control by Administrative Agent. The Account Holder will comply with: (a) all instructions directing disposition of the funds in any and all of the Accounts, (b) all notifications and entitlement orders that the Account Holder receives directing it to transfer funds or redeem any financial asset in any and all of the Accounts, and (c) all other directions concerning any and all of the Accounts, including directions to distribute to the Administrative Agent proceeds of any such transfer or redemption or interest or dividends on property in any and all of the Accounts (any such instruction, notification or direction referred to in clause (a), (b) or (c) above being an "ACCOUNT DIRECTION"“Account Direction”), in each case of clauses (a), (b) and (c) above originated by the Administrative Agent without further consent by the Grantor or any other Person.

Appears in 1 contract

Samples: Credit Agreement (Sandridge Energy Inc)

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Control by Administrative Agent. The Account Holder will comply with: (a) instructions directing disposition of the funds in any and all of the Accounts, (b) notifications that the Account Holder receives directing it to transfer funds in any and all of the Accounts, and (c) other directions concerning any and all of the Accounts, including directions to distribute to the Administrative Agent proceeds of any such transfer or interest or any and all of the Accounts (any such instruction, notification or direction referred to in clause (a), (b) or (c) above being an "ACCOUNT DIRECTION"“Account Direction”), in each case of clauses (a), (b) and (c) above originated by the Administrative Agent without further consent by the Grantor or any other Person.

Appears in 1 contract

Samples: Credit Agreement (Sandridge Energy Inc)

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