Grantor’s Rights in Account. Until the Securities Intermediary receives a notice from the Collateral Trustee certifying that an Event of Default (as defined in the security documents between the Collateral Trustee and the Grantor) has occurred and is continuing and stating that the Collateral Trustee will exercise exclusive control over the Account (a “Notice of Exclusive Control” with respect to such Account), the Securities Intermediary will comply with Entitlement Orders originated by the Grantor without further consent by the Collateral Trustee.
Grantor’s Rights in Account. (a) Except as otherwise provided in this Section 3, the Commodity Intermediary will comply with Entitlement Orders concerning the Account originated by the Grantor without further consent by the Secured Party.
(a) Until the Commodity Intermediary receives a notice from the Secured Party that the Secured Party will exercise exclusive control over the Account (a "Notice of Exclusive Control"), the Commodity Intermediary may act on any directions originated by the Grantor concerning the Account.
(b) If the Commodity Intermediary receives from the Secured Party a Notice of Exclusive Control with respect to the Account, the Commodity Intermediary will comply only with Entitlement Orders concerning the Account originated by the Secured Party and will cease:
(i) complying with Entitlement Orders or other directions concerning the Account originated by the Grantor; and
(ii) distributing to the Grantor any value distributed on account of any commodity contract or contracts carried in the Account.
Grantor’s Rights in Account. (a) Except as otherwise provided in this Section 3, the Securities Intermediary will comply with Entitlement Orders originated by the Grantor without further consent by the Secured Party.
(b) Until the Securities Intermediary receives a notice from the Secured Party that the Secured Party will exercise exclusive control over the Account (a "Notice of Exclusive Control"), the Securities Intermediary may distribute to the Grantor all interest and regular cash dividends on property in the Account.
(c) The Securities Intermediary will not comply with any Entitlement Order originated by the Grantor that would require the Securities Intermediary to make a free delivery to the Grantor or any other person.
(d) If the Securities Intermediary receives from the Secured Party a Notice of Exclusive Control, the Securities Intermediary will cease:
(i) complying with Entitlement Orders or other directions relating to the Account originated by the Grantor and
(ii) distributing to the Grantor interest and dividends on property in the Account.
Grantor’s Rights in Account. (a) Except as otherwise provided in this Section 3, the Securities Intermediary will comply with Entitlement Orders concerning the Account originated by the Grantor without further consent by the Secured Party.
(a) Until the Securities Intermediary receives a notice from the Secured Party that the Secured Party will exercise exclusive control over the Account (a "Notice of Exclusive Control"), the Securities Intermediary may distribute to the Grantor all interest and regular cash dividends on property in the Account.
(b) If the Securities Intermediary receives from the Secured Party a Notice of Exclusive Control with respect to the Account, the Securities Intermediary will comply only with Entitlement Orders concerning the Account originated by the Secured Party and will cease:
(i) complying with Entitlement Orders or other directions concerning the Account originated by the Grantor; and
(ii) distributing to the Grantor interest and dividends on property in the Account.
Grantor’s Rights in Account. Until Bank receives an Entitlement Order from an Authorized Person of Secured Party, Bank may accept and comply with any Entitlement Order signed by an authorized person of the Grantor (an “Authorized Person of Grantor,” as set forth in Exhibit C attached hereto). If an Authorized Person of Secured Party gives Bank an entitlement order notifying Bank that Secured Party will exercise exclusive control over the Account, Bank will cease complying with entitlement orders or other directions concerning the Account originated by an Authorized Person of Grantor. All instructions required under this Agreement will be delivered to Bank in writing, in either original or facsimile form, executed by an Authorized Person. In its capacity as Bank, Bank will accept all instructions and documents complying with the above under the indemnities provided in this Agreement, and reserves the right to refuse to accept any instructions or documents which fail, or appear to fail, to comply. Further to this procedure, Bank reserves the right to telephone an Authorized Person to confirm the details of such instructions or documents if they are not already on file with Bank as standing instructions. The parties agree that the above constitutes a commercially reasonable security procedure. Entitlement orders received after 12:00 p.m. E.S.T. will be treated as if received on the next succeeding business day in New York.
Grantor’s Rights in Account. Until the Securities Intermediary receives a notice from the Collateral Agent in the form of Exhibit A (a “Notice of Exclusive Control”) that the Collateral Agent will exercise exclusive control over the Account, the Securities Intermediary shall: (i) distribute to the Grantor all interest and regular cash dividends on property in the Account, if any, (ii) allow the Grantor to exercise all voting rights, if any, relating to the security entitlements and financial assets credited to the Account and (iii) settle purchases, sales, free receipts, free deliveries, exchanges, substitutions and other transactions initiated by Grantor or Grantor’s authorized representatives (collectively, “Trades”, and each individually, a “Trade”). The Grantor shall be solely responsible to comply with the valuation requirements on the Collateral described in the Security Agreement. If the Securities Intermediary receives from the Collateral Agent a Notice of Exclusive Control, the Securities Intermediary will cease (a) distributing to the Grantor (and will not distribute to the Performance Guarantor) any interest and dividends on property in the Account, (b) allowing the Grantor or the Performance Guarantor to exercise any voting rights and (c) settling Trades initiated by Grantor or Grantor’s authorized representatives, including the Performance Guarantor. The Collateral Agent may deliver to the Securities Intermediary a Notice of Exclusive Control only if an Event of Default has occurred and is continuing.
Grantor’s Rights in Account. (a) Except as otherwise provided in this Section 3, the Securities Intermediary shall comply with Entitlement Orders originated by the Grantor without further consent by the Secured Party.
(b) Until the Securities Intermediary receives a notice from the Secured Party that the Secured Party shall exercise exclusive control over the Account (a “Notice of Exclusive Control”), the Securities Intermediary may distribute to the Grantor all funds and other property held in the Account.
Grantor’s Rights in Account. (a) Except as otherwise provided in this Section 3, the Securities Intermediary will comply with Entitlement Orders and other directions concerning the Account originated by the Grantor without further consent by the Secured Party.
(b) Until the Securities Intermediary receives a notice from the Secured Party that the Secured Party will exercise exclusive control over the Account (a “Notice of Exclusive Control”), the Securities Intermediary may distribute to the Grantor all interest and regular cash dividends on property in the Account.
(c) If the Securities Intermediary receives from the Secured Party a Notice of Exclusive Control, the Securities Intermediary will cease:
(i) complying with Entitlement Orders or other directions concerning the Account originated by the Grantor, and
(ii) distributing to the Grantor all interest and dividends on property in the Account.
Grantor’s Rights in Account. (a) Except as otherwise provided herein, the Commodity Intermediary will comply with Entitlement Orders and other directions concerning the Account originated by, and only by the Grantor.
(b) Until the Commodity Intermediary receives a notice from the Secured Party that the Secured Party will exercise exclusive control over the Account (a "Notice of Exclusive Control"), the Commodity Intermediary may act on directions originated by the Grantor concerning the Account except directions consisting of any Entitlement Order.
(c) If the Commodity Intermediary receives from the Secured Party a Notice of Exclusive Control, until such notice shall have been withdrawn, the Commodity Intermediary will cease acting on any directions referred to in subsection (b) above and will cease complying with Entitlement Orders from the Granters with respect thereto.
Grantor’s Rights in Account. (a) Until the Securities Intermediary receives a notice from the Secured Party certifying that an Event of Default (as defined in the loan documents between the Secured Party and the Grantor) has occurred and is continuing and stating that the Secured Party will exercise exclusive control over any Account (a “Notice of Exclusive Control” with respect to such Account), the Securities Intermediary will comply with Entitlement Orders originated by the Grantor without further consent by the [Secured Party] [Control Agent].
