Common use of Control by the Controlling Party Clause in Contracts

Control by the Controlling Party. The Master Collateral Agent shall comply with notices and instructions given by the Bank or WFAL 2 only if expressly contemplated hereby or if accompanied by the written consent of the Controlling Party, except that if any Default shall have occurred and be continuing, the Master Collateral Agent shall act upon and comply with notices and instructions given by the Controlling Party alone in the place and stead of the Bank or WFAL 2. In the absence of any written communication by the Controlling Party to the Master Collateral Agent to the effect that a Default has occurred and is continuing, the Master Collateral Agent may assume that no Default has occurred and is continuing. The Master Collateral Agent shall have no duty to verify whether or not a Default has occurred or is continuing or the facts stated in any FSA Notice. Any written communication by the Controlling Party to the Master Collateral Agent specifying the amount of any obligations owing to Financial Security or the Trustee shall be conclusive evidence of such amount, notwithstanding any notice to the contrary received by the Master Collateral Agent from the Bank, WFAL 2 or any other Person.

Control by the Controlling Party. The Master Collateral Agent shall comply with notices and instructions given by the Bank or WFAL 2 WFAL2 only if expressly contemplated hereby or if accompanied by the written consent of the Controlling Party, except that if any Default shall have occurred and be continuing, the Master Collateral Agent shall act upon and comply with notices and instructions given by the Controlling Party alone in the place and stead of the Bank or WFAL 2WFAL2. In the absence of any written communication by the Controlling Party to the Master Collateral Agent to the effect that a Default has occurred and is continuing, the Master Collateral Agent may assume that no Default has occurred and is continuing. The Master Collateral Agent shall have no duty to verify whether or not a Default has occurred or is continuing or the facts stated in any FSA Controlling Party Notice. Any written communication by the Controlling Party to the Master Collateral Agent specifying the amount of any obligations owing to the Indenture Trustee, the Collateral Agent or Financial Security or the Trustee shall be conclusive evidence of such amount, notwithstanding any notice to the contrary received by the Master Collateral Agent from the Bank, WFAL 2 WFAL2 or any other Person.