Common use of Control of Collateral Account Clause in Contracts

Control of Collateral Account. To establish “control” of the Collateral Account by the Secured Party under Sections 9-104 and 9-106 of the UCC, the Financial Institution agrees to comply with any order or instruction from the Secured Party directing the deposit, withdrawal, transfer or redemption of the cash or other financial assets credited to the Collateral Account (a “Secured Party Order”) without the need for consent by the Grantor or any other Person.

Control of Collateral Account. To establish “"control” " of the Collateral Account by the Secured Party under Sections 9-104 and 9-106 of the UCC, the Financial Institution agrees to comply with any order or instruction from the Secured Party directing the deposit, withdrawal, transfer or redemption of the cash or other financial assets credited to the Collateral Account (a “"Secured Party Order”") without the need for consent by the Grantor or any other Person.