Common use of Control Covenants Clause in Contracts

Control Covenants. (a) Each Grantor shall instruct (and otherwise use its reasonable efforts) to cause (i) each depositary bank holding a Deposit Account owned by such Grantor, and (ii) each Securities Intermediary holding any Investment Property owned by such Grantor, to execute and deliver a control agreement, sufficient to provide the Secured Party with Control of such Deposit Account or Investment Property, and otherwise in form and substance satisfactory to the Secured Party (any such depositary bank executing and delivering any such control agreement, a “Controlled Depositary”, and any such Securities Intermediary executing and delivering any such control agreement, a “Controlled Intermediary”). In the event any such depositary bank or Securities Intermediary refuses to execute and deliver such control agreement, the Secured Party, in its sole discretion, may require the applicable Deposit Account and Investment Property to be transferred to the Secured Party or a Controlled Depositary or Controlled Intermediary, as applicable.

Control Covenants. (a) Each Grantor shall instruct (and otherwise use its reasonable efforts) to cause (i) each depositary bank holding a Deposit Account owned by such Grantor, and (ii) each Securities Intermediary holding any Investment Property owned by such Grantor, to execute and deliver a control agreement, sufficient to provide the Secured Party with Control of such Deposit Account or Investment Property, and otherwise in form and substance satisfactory to the Secured Party (any such depositary bank executing and delivering any such control agreement, a “Controlled Depositary”"CONTROLLED DEPOSITARY", and any such Securities Intermediary executing and delivering any such control agreement, a “Controlled Intermediary”"CONTROLLED INTERMEDIARY"). In the event any such depositary bank or Securities Intermediary refuses to execute and deliver such control agreement, the Secured Party, in its sole discretion, may require the applicable Deposit Account and Investment Property to be transferred to the Secured Party or a Controlled Depositary or Controlled Intermediary, as applicable.

Control Covenants. (a) Each Grantor shall instruct (and otherwise use its reasonable effortsefforts to cause) to cause (i) each depositary bank holding a Deposit Account owned by such Grantor, and (ii) each Securities Intermediary holding any Investment Property owned by such Grantor, to execute and deliver a control agreement, sufficient to provide the Secured Party with Control of such Deposit Account or Investment Property, and otherwise in form and substance reasonably satisfactory to the Secured Party (any such depositary bank executing and delivering any such control agreement, a “Controlled Depositary”, and any such Securities Intermediary executing and delivering any such control agreement, a “Controlled Intermediary”). In the event any such depositary bank or Securities Intermediary refuses to execute and deliver such control agreement, the Secured Party, in its sole discretion, may require the applicable Deposit Account and Investment Property to be transferred to the Secured Party or a different Controlled Depositary or Controlled Intermediary, as applicable, reasonably selected by the Grantor and reasonably satisfactory to the Secured Party, which agrees to execute and deliver such control agreement.