Common use of Control by Party A Clause in Contracts

Control by Party A. (i) Party A agrees to provide Custodian, in the form of Exhibit C attached (as may be amended from time to time), the names and signatures of authorized parties who may give notices, instructions, or entitlement orders concerning the Collateral Accounts and the Collateral held therein. All entitlement orders and other instructions and communications that Party A is entitled, or desires, to give or make under this Agreement may be given or made either by Party A itself or by its attorney in fact as designated in writing by Party A to the Custodian from time to time pursuant, and subject to the limitations contained in, a written power of attorney delivered to the Custodian. Other means of notice, instruction, or entitlement orders may be used provided that Party A and Custodian agree to appropriate security procedures. Upon receipt by Custodian of a Notice of Exclusive Control, and unless and until such Notice of Exclusive Control has been revoked in writing by Party A, Custodian shall thereafter follow only the instructions of Party A with respect to the Collateral Accounts and shall comply with any entitlement order or instructions (within the meaning of Sections 8-102, 9-104, and 9-106 of the UCC) received from Party A, without further consent of Party B or any other person, and Custodian will not comply with entitlement orders or instructions concerning the Collateral originated by Party B without the prior written consent of Party A.

Appears in 2 contracts

Samples: Control Agreement (Platinum Underwriters Holdings LTD), Control Agreement (Platinum Underwriters Holdings LTD)

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Control by Party A. (i) Party A agrees to provide Custodian, in the form of Exhibit C attached (as may be amended from time to time), the names and signatures of authorized parties who may give notices, instructions, or entitlement orders concerning the Collateral Accounts and the Collateral held therein. All entitlement orders and other instructions and communications that Party A is entitled, or desires, to give or make under this Agreement may be given or made either by Party A itself or by its attorney in fact fact, as designated in writing by Party A to the Custodian from time to time pursuant, and subject to the limitations contained in, a written power of attorney delivered to the Custodiantime. Other means of notice, instruction, or entitlement orders may be used provided that Party A and Custodian agree to appropriate security procedures. Upon receipt by Custodian of a Notice of Exclusive Control, and unless and until such Notice of Exclusive Control has been revoked in writing by Party A, Custodian shall thereafter follow only the instructions of Party A with respect to the Collateral Accounts and shall comply with any entitlement order or instructions (within the meaning of Sections 8-102, 9-104, and 9-106 of the UCC) received from Party A, without further consent of Party B or any other person, and Custodian will not comply with entitlement orders or instructions concerning the Collateral originated by Party B without the prior written consent of Party A.

Appears in 2 contracts

Samples: Retrocession Agreement (Platinum Underwriters Holdings LTD), Control Agreement (Platinum Underwriters Holdings LTD)

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