Common use of Control of Collateral Accounts Clause in Contracts

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.

Appears in 4 contracts

Samples: Financing Agreement (First Wind Holdings Inc.), Financing Agreement (First Wind Holdings Inc.), Financing Agreement (First Wind Holdings Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!