Common use of Covenant Regarding Control Clause in Contracts

Covenant Regarding Control. No Grantor shall cause or permit any Person other than the Security Trustee to have “control” (as defined in Section 9‑104, 9‑105, 9 106, or 9‑107 of the UCC) of any Collateral consisting of a “deposit account,” “electronic chattel paper,” “investment property,” “supporting obligations” or “letter of credit right” (as such terms are defined in Article 9 of the UCC); provided that the Servicer on behalf of, and under the directions and control of, the Security Trustee shall be permitted to hold any letter of credit provided by a Lessee or otherwise pursuant to a Lease

Covenant Regarding Control. No Grantor shall cause or permit any Person other than the Security Trustee to have “control” (as defined in Section 9‑1049-104, 9‑1059-105, 9 106, or 9‑107 9-107 of the UCC) of any Collateral consisting of a “deposit account,” “electronic chattel paper,” “investment property,” “supporting obligations” or “letter of credit right” (as such terms are defined in Article 9 of the UCC); provided that the Servicer on behalf of, and under the directions and control of, the Security Trustee shall be permitted to hold any letter of credit provided by a Lessee or otherwise pursuant to a LeaseLease Section 3.04

Covenant Regarding Control. No Grantor shall cause or permit any Person other than the Security Trustee to have “control” (as defined in Section 9‑1049104, 9‑1059105, 9 106, or 9‑107 9107 of the UCC) of any Collateral consisting of a “deposit account,” “electronic chattel paper,” “investment property,” “supporting obligations” or “letter of credit right” (as such terms are defined in Article 9 of the UCC); provided that the Servicer on behalf of, and under the directions and control of, the Security Trustee shall be permitted to hold any letter of credit provided by a Lessee or otherwise pursuant to a LeaseLease #4821-3610-4420v6