Control of the Accounts. (a) The Statement of Facts is incorporated herein by reference. The Bank represents that it is a “bank”. The Company and the Bank acknowledge that each Account is a “deposit account”. Each party to this Agreement acknowledges that this Agreement is an “authenticated” record and that the arrangements established under this Agreement constitute “control” of each Account. Each of these terms is used in this Agreement as defined in Article 9 of the Uniform Commercial Code as adopted by the State of [ ] (the “[State] UCC”).
Control of the Accounts. (a) The Statement of Facts is true and correct and incorporated herein by reference. Each party to this Agreement hereby confirms that (i) each Account is a “deposit account”, (ii) this Agreement shall constitute an “authenticated record”, and (iii) the arrangements established under this Agreement shall constitute “control” of each Account, as each of those terms is defined in Article 9 of the Uniform Commercial Code as adopted in the State in which the respective Account identified in Appendix 1 is located (hereinafter referred to as the “Applicable UCC”).
Control of the Accounts. As of and after the date of this Agreement, Owner may not make debits to or withdrawals from the Accounts and Owner shall have no access to the Accounts or to funds at any time on either deposit in the Accounts. Bank shall have the exclusive access to the Accounts and to funds at any time on deposit in the Accounts; provided, however, that so long as no Event of Default has occurred, Bank shall pay interest on the funds on deposit in the Accounts quarterly in arrears at the interest rate applicable to time deposits as determined by Bank from time in its sole discretion.
Control of the Accounts. Each of the parties hereto hereby agrees that (i) each Account shall be deemed to be a “securities account” and (ii) except as otherwise expressly provided herein, the Indenture Trustee shall be exclusively entitled to exercise the rights that comprise each Financial Asset held in each Account. Each of the parties hereto hereby agrees to cause the Indenture Trustee, the Custodian, or any other Securities Intermediary that holds any money or other property for Seller in each Account to agree with the parties hereto that (A) the Cash and other property is to be treated as a Financial Asset under Article 8 of the UCC and (B) the “securities intermediary’s jurisdiction” (within the meaning of Section 8-110 of the UCC) for that purpose shall be the State of New York. In no event may any Financial Asset held in each Account be registered in the name of, payable to the order of, or specially indorsed to, Seller, unless such Financial Asset has also been indorsed in blank or to the Custodian or other Securities Intermediary that holds such Financial Asset in each Account. Without limitation of the foregoing, all monies deposited in, and other assets credited to, each Account pursuant to the Indenture and this Agreement will be held (i) by the Indenture Trustee (and under the sole dominion and control of the Indenture Trustee) as part of the Collateral until the Note Balance has been reduced to zero and the Collateral has been released pursuant to and in accordance with the terms of the Indenture and (ii) after the Note Balance has been reduced to zero and the Collateral has been released pursuant to and in accordance with the terms of the Indenture, by or on behalf of Purchaser, and in each case will be applied only upon the terms and conditions of the Basic Documents. However, Servicer may make deposits to or request that the Indenture Trustee (or, after the Note Balance has been reduced to zero, Purchaser) make deposits to or withdrawals from each Account in accordance with the Indenture, this Agreement and the other Basic Documents. In addition, Servicer may make withdrawals from the Holding Account solely to the extent specifically so provided in the New Note Purchase Agreement.
Control of the Accounts. (a) The Statement of Facts is incorporated herein by reference. The Bank represents that it is a “bank”. The Company confirms and the Bank acknowledges that each Account is a “deposit account”. Each party hereto acknowledges that this Agreement is an “authenticated record”, and that the arrangements established under this Agreement are intended to constitute “control” of each Account. Each of these terms is used in this Agreement as defined or used in Article 9 of the Uniform Commercial Code as adopted by the State of New York (the “New York UCC”).
Control of the Accounts. (a) The Statement of Facts is incorporated herein by reference. The Bank represents that it is a “bank”. The SPV and the Bank acknowledge that each Account is a “deposit account”. Each party to this Agreement acknowledges that this Agreement is an “authenticated” record and that the arrangements established under this Agreement constitute “control” of each Account. Each of these terms is used in this Agreement as defined in Article 9 of the Uniform Commercial Code as adopted by the State of Georgia (the “Georgia UCC”).
