Common use of Control of Collateral Clause in Contracts

Control of Collateral. (a) For the purpose of giving the Lender control over the Securities Accounts and in order to perfect the Lender’s security interests in the Collateral, the Grantor hereby consents to (x) the Securities Intermediary entering into a control agreement with the Lender (the “Control Agreement”) pursuant to which the Securities Intermediary agrees to accept and comply with entitlement orders and instructions from the Lender (or from any assignee or successor of the Lender) regarding the Securities Accounts without further consent of the Grantor, (y) the Securities Intermediary retitling any Securities Account in the name of the Lender for the benefit of the Grantor to further perfect and evidence the Lender’s security interest in such Securities Account granted pursuant to this Agreement and (z) the Securities Intermediary delivering to the Lender account statements, trade confirmations and any other information relating to the Securities Accounts. Without limiting the foregoing, the Grantor acknowledges, consents and agrees that, pursuant to a control agreement (the “Control Agreement”) entered into by and between the Lender and the Securities Intermediary:

Appears in 2 contracts

Samples: Credit Agreement (Fuller Max L), Financial Assets Security Agreement (Fuller Max L)

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Control of Collateral. (a) For the purpose of giving the Lender control over the Securities Accounts Account and in order to perfect the Lender’s security interests in the Collateral, the Grantor hereby consents to (x) the Securities Intermediary entering into a control agreement with the Lender (the “Control Agreement”) pursuant to which the Securities Intermediary agrees to accept and comply with entitlement orders and instructions from the Lender (or from any assignee or successor of the Lender) regarding the Securities Accounts Account without further consent of the Grantor, (y) the Securities Intermediary retitling any the Securities Account in the name of the Lender for the benefit of the Grantor to further perfect and evidence the Lender’s security interest in such the Securities Account granted pursuant to this Agreement and (z) the Securities Intermediary delivering to the Lender account statements, trade confirmations and any other information relating to the Securities AccountsAccount. Without limiting the foregoing, the Grantor acknowledges, consents and agrees that, pursuant to a control agreement (the “Control Agreement”) entered into by and between the Lender and the Securities Intermediary:

Appears in 1 contract

Samples: Financial Assets Security Agreement (Patel Gautam)

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Control of Collateral. (a) For the purpose of giving the Lender control over the Securities Accounts Account and in order to perfect the Lender’s security interests in the Collateral, the Grantor hereby consents to (x) the Securities Intermediary entering into a control agreement with the Lender (the “Control Agreement”) Secured Party pursuant to which the Securities Intermediary agrees to accept and comply with entitlement orders and instructions from the Lender (or from any assignee or successor of the Lender) regarding the Securities Accounts Account without further consent of the Grantor, (y) the Securities Intermediary retitling any the Securities Account in the name of the Lender for the benefit of the Grantor to further perfect and evidence the Lender’s security interest in such the Securities Account granted pursuant to this Agreement and (z) the Securities Intermediary delivering to the Lender account statements, trade confirmations and any other information relating to the Securities AccountsAccount. Without limiting the foregoing, the Grantor acknowledges, consents and agrees that, pursuant to a control agreement (the “Control Agreement”) entered into by and between the Lender and the Securities Intermediary:

Appears in 1 contract

Samples: Financial Assets Security Agreement (Nordhagen Arlen Dale)

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