Common use of Eligible Account Clause in Contracts

Eligible Account. Until such time as the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Grantor shall direct, to the extent permitted by the Indenture, the Financial Institution with respect to the selection of investments to be made for the credit of a Collateral Account if it is a securities account, and after the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Secured Party shall direct, to the extent permitted by the Indenture, the Financial Institution with respect to the selection of investments to be made for the credit of a Collateral Account if it is a securities account; provided, however, that the Financial Institution shall not honor any instruction from such Person to purchase any investments other than Permitted Investments.

Appears in 44 contracts

Samples: Account Control Agreement (Verizon Master Trust), Account Control Agreement (Verizon Master Trust), Account Control Agreement (Verizon Master Trust)

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Eligible Account. Until such time as the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Grantor shall direct, to the extent permitted by the Indenture, the Financial Institution with respect to the selection of investments to be made for the credit of a any Collateral Account if it is a securities account, and after the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Secured Party shall direct, to the extent permitted by the Indenture, the Financial Institution with respect to the selection of investments to be made for the credit of a any Collateral Account if it is a securities account; provided, however, that the Financial Institution shall not honor any instruction from such Person to purchase any investments other than Permitted Investments.

Appears in 14 contracts

Samples: Account Control Agreement (Verizon Owner Trust 2020-C), Account Control Agreement (Verizon Owner Trust 2020-C), Account Control Agreement (Verizon Owner Trust 2020-B)

Eligible Account. Until such time as the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Grantor shall direct, to the extent permitted by the IndentureMaster Collateral Agreement, the Financial Institution with respect to the selection of investments to be made for the credit of a the Collateral Account if it is a securities account, and after the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Secured Party shall direct, to the extent permitted by the IndentureMaster Collateral Agreement, the Financial Institution with respect to the selection of investments to be made for the credit of a the Collateral Account if it is a securities account; provided, however, that the Financial Institution shall not honor any instruction from such Person to purchase any investments other than Permitted Investments.

Appears in 3 contracts

Samples: Account Control Agreement (Verizon Master Trust), Account Control Agreement (Verizon Master Trust), Account Control Agreement (Verizon Master Trust)

Eligible Account. Until such time as the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Grantor shall direct, to the extent permitted by the Indenture, the Financial Institution with respect to the selection of investments to be made for the credit of a any Collateral Account if it is a securities accountSecurities Account, and after the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Secured Party shall direct, to the extent permitted by the Indenture, the Financial Institution with respect to the selection of investments to be made for the credit of a any Collateral Account if it is a securities accountSecurities Account; provided, however, that the Financial Institution shall not honor any instruction from such Person to purchase any investments other than Permitted Investments.

Appears in 1 contract

Samples: Account Control Agreement (Verizon ABS LLC)

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Eligible Account. Until such time as the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Grantor shall direct, to the extent permitted by the Indenture, the Financial Institution with respect to the selection of investments to be made for the credit of a any Collateral Account if it is a securities accountaccount , and after the Financial Institution receives a Notice of Sole Control signed by the Secured Party, the Secured Party shall direct, to the extent permitted by the Indenture, the Financial Institution with respect to the selection of investments to be made for the credit of a any Collateral Account if it is a securities accountaccount ; provided, however, that the Financial Institution shall not honor any instruction from such Person to purchase any investments other than Permitted Investments.

Appears in 1 contract

Samples: Account Control Agreement (Verizon ABS LLC)

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