Exercise of Control. With respect to any Deposit Account or Securities Account over which the Collateral Agent has Control, the Collateral Agent shall not deliver any direction for the disposition of funds or other property, entitlement order or notice of exclusive control (any such action, a “Control Action”) unless an Event of Default has occurred (it being understood that, once the Collateral Agent has commenced taking any Control Action, such action or actions shall continue until the Collateral Agent is directed otherwise by the requisite number of lenders).
Appears in 4 contracts
Samples: Secured Revolving Credit Agreement (FS Investment CORP), Guarantee, Pledge and Security Agreement (FS Energy & Power Fund), Guarantee, Pledge and Security Agreement (FS Investment CORP)
Exercise of Control. With respect to any Deposit Account or Securities Account over which the Collateral Agent has Control, the Collateral Agent shall not deliver any direction for the disposition of funds or other property, entitlement order or notice of exclusive control (any such action, a “Control Action”) unless an Event of Default or Trigger Event has occurred (it being understood that, once the Collateral Agent has commenced taking any Control Action, such action or actions shall continue until the Collateral Agent and is directed otherwise by the requisite number of lenders)continuing.
Appears in 3 contracts
Samples: Assignment and Assumption (Goldman Sachs BDC, Inc.), Guarantee and Security Agreement (Corporate Capital Trust, Inc.), Guarantee and Security Agreement (Corporate Capital Trust, Inc.)
Exercise of Control. With respect to any Deposit Account or Securities Account over which the Collateral Agent has Control, the Collateral Agent shall not deliver any direction for the disposition of funds or other property, entitlement order or notice of exclusive control (any such action, a “Control Action”) unless an Event of Default has occurred (it being understood that, once the Collateral Agent has commenced taking any Control Action, such action or actions shall continue until the Collateral Agent and is directed otherwise by the requisite number of lenders)continuing.
Appears in 1 contract
Samples: Guarantee and Security Agreement (New Mountain Finance Corp)
Exercise of Control. With respect to any Deposit Account or Securities Account over which the Collateral Agent has Control, the Collateral Agent shall not deliver any direction for the disposition of funds or other property, entitlement order or notice of exclusive control (any such action, a “Control Action”) unless an Event of Default has occurred (it being understood that, once the Collateral Agent has commenced taking any Control Action, such action or actions shall continue until the Collateral Agent and is directed otherwise by the requisite number of lenders)continuing.
Appears in 1 contract
Samples: Guarantee and Security Agreement (Franklin BSP Capital Corp)
