Control of Collateral Accounts Sample Clauses

Control of Collateral Accounts. To establish “control” of the Collateral Accounts 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 a Collateral Account (a “Secured Party Order”) without the need for consent by the Grantor or any other Person.
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Control of Collateral Accounts. (a) Notwithstanding any other provision of this Agreement, if at any time the Financial Institution shall receive any order from the Secured Party directing transfer or redemption of any financial asset relating to a Collateral Account or any instruction originated by the Secured Party directing the disposition of funds in a Collateral Account, the Financial Institution shall comply with such entitlement order or instruction without further consent by the Grantor or any other person. If the Grantor is otherwise entitled to issue entitlement orders or instructions and such entitlement orders or instructions conflict with any entitlement order or instruction issued by the Secured Party, the Financial Institution shall follow the entitlement orders or instructions issued by the Secured Party and shall incur no liability therewith. (b) Until the Financial Institution receives a Notice of Sole Control pursuant to Section 6.8(a) from the Secured Party, the Financial Institution is authorized to act upon instructions, including entitlement orders, from either the Secured Party or the Grantor. The Secured Party may exercise sole and exclusive control of the Collateral Accounts at any time by delivering to the Financial Institution a Notice of Sole Control as set forth in Section 6.8(a).
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Control of Collateral Accounts. If at any time the Securities Intermediary shall receive from the Security Agent any entitlement order or any instruction originated by the Security Agent directing transfer or redemption of any financial asset relating to the Collateral Accounts, the disposition of funds in the Collateral Accounts or any other action or inaction, the Securities Intermediary shall comply with such entitlement order or instruction without further consent of the Borrower or any other party.
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Control of Collateral Accounts. 10 2.5 Control of Specific Collateral Accounts........................................................12 2.5.1 Control of Operating Account..........................................................12 2.5.2 Control of Construction Disbursement Account, Dugan Property Improvements Account and Coxxxxxction Escrow Account...............................................12 2.6 The Authority's Rights.........................................................................12 2.7
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Control of Collateral Accounts. Each Disbursement Agent hereby agrees and confirms that it has established the Collateral Accounts as set forth and defined in this Agreement. Each Disbursement Agent and the Authority agree that (a) such Disbursement Agent is acting as a "securities intermediary" (within the meaning of Section 8-102(14) of the UCC) with respect to the Collateral Accounts and the "financial assets" (within the meaning of Section 8-102(a)(9) of the UCC, the "Financial Assets") credited to the Collateral Accounts; (b) each such Collateral Account established by the respective Disbursement Agent is and will be maintained as a "securities account" (within the meaning of Section 8-501 of the UCC); (c) the Authority is an "entitlement holder" (within the meaning of Section 8-102(a)(7) of the UCC) in respect of the Financial Assets credited to such Collateral Accounts and with respect to such Collateral Account and the respective Disbursement Agent shall so note in its records pertaining to such Financial Assets and Collateral Accounts; and (d) all Financial Assets in registered form or payable to or to the order of and credited to any such Collateral Account shall be registered in the name of, payable to or to the order of, or specially endorsed to, the respective Disbursement Agent, or in blank, or credited to another securities account maintained in the name of the respective Disbursement Agent, as applicable, and in no case will any Financial Asset credited to any such Collateral Account be registered in the name of, payable to or to the order of, or endorsed to, the Authority except to the extent the foregoing have been subsequently endorsed by the Authority to the respective Disbursement Agent or in blank. Each item of property (including a security, security entitlement, investment property, instrument or obligation, share, participation, interest or other property whatsoever) credited to any Collateral Account shall be treated as a Financial Asset. Until this Agreement terminates in accordance with the terms hereof, the Trustee shall have "control" (within the meaning of Section 8-106(d)(2)of the UCC) of the Authority's "security entitlements" (within the meaning of Section 8-102(a)(17) of the UCC, "Security Entitlements") with respect to the Collateral Accounts and the Financial Assets credited to the Collateral Accounts. All property delivered to a Disbursement Agent by or on behalf of the Authority pursuant to this Agreement will be promptly credited to the respective ...
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Control of Collateral Accounts. The Collateral Accounts shall be subject to the exclusive dominion and control of the Administrator, and the Pledgor shall have no right to request any withdrawal from any Collateral Account except as expressly permitted by the terms of this Agreement.
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Related to Control of Collateral Accounts

  • Establishment of Collateral Accounts Securities Intermediary acknowledges and agrees that: (i) it has established and is maintaining on its books and records the accounts identified on the attached Schedule 1 (each such account, together with any replacements thereof or substitutions therefor, the “Collateral Account” and such accounts, collectively, the “Collateral Accounts”) in the name of the Borrower; (ii) each Collateral Account is a “securities account” (within the meaning of Section 8-501(a) of the UCC) in respect of which Securities Intermediary is a “securities intermediary” (within the meaning of Section 8-102(a)(14) of the UCC and, with respect to any Book-Entry Security, within the meaning of Federal Book-Entry Regulations) and the Security Agent is the “entitlement holder” (within the meaning of Section 8-102(a)(7) of the UCC); provided, however, that if, notwithstanding the intention of the parties hereto, all or any portion of the Collateral Account is determined to be a “deposit account” (within the meaning of Section 9-102 of the UCC) rather than a “securities account,” then the Securities Intermediary represents, warrants, covenants and agrees that it is a “bank” (as defined in Section 9-102(a)(8) of the UCC) and will treat the Borrower as its customer (within the meaning of Section 9-104(a)(3) of the UCC) with respect to the Collateral Accounts (or portion thereof); (iii) all property delivered, or to be delivered, to Securities Intermediary pursuant to this Agreement is, and will be, promptly credited to the Collateral Accounts; (iv) it does not know of any claim to or interest in any Collateral Account or any assets or funds therein, except for claims and interests of the parties to this Agreement as set forth herein; and (v) it shall not change the name or account number of any Collateral Account without the prior written consent of the Security Agent. Except as provided in Section 2(b), Securities Intermediary agrees that it shall not take “entitlement orders” (as defined in Section 8-102(a)(8) of the UCC) or “instructions” (within the meaning of Section 9-104(a)(2) of the UCC) with respect to the Collateral Accounts or any assets or funds therein from any Person other than the Security Agent.

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