Direction in Disputes. Subject to Section 4(f), Pledgor, Securities Intermediary and Secured Party hereby agree that in the event any dispute arises with respect to the payment, ownership or right to possession of the Reserve Account or any other Collateral credited to or held therein Securities Intermediary shall take or refrain from taking such actions with respect to the Reserve Account as may be directed by (a) Secured Party during the Suspension Period and (b) Pledgor other than during the Suspension Period.
Appears in 97 contracts
Samples: Securities Account Control Agreement (Toyota Auto Receivables 2024-D Owner Trust), Securities Account Control Agreement (Toyota Auto Receivables 2024-D Owner Trust), Securities Account Control Agreement (Toyota Auto Finance Receivables LLC)
Direction in Disputes. Subject to Section 4(f), Pledgor, Securities Intermediary and Secured Party hereby agree that in the event any dispute arises with respect to the payment, ownership or right to possession of the Reserve Account or any other Collateral credited to or held therein Securities Intermediary shall take or refrain from taking such actions with respect to the Reserve Account as may be directed by (a) Secured Party during the Suspension Period and (b) Pledgor other than during the Suspension Period.
Appears in 8 contracts
Samples: Securities Account Control Agreement (Toyota Auto Receivables 2011-a Owner Trust), Securities Account Control Agreement (Toyota Auto Receivables 2011-a Owner Trust), Securities Account Control Agreement (Toyota Auto Receivables 2010-C Owner Trust)
