Common use of Grantor’s Rights in Account Clause in Contracts

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. (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] [Control Agent]. (ab) Until the Securities Intermediary receives a notice from the [Secured Party Party] [Control Agent] that the [Secured Party Party] [Control Agent] will exercise exclusive control over the Account (a "Notice of Exclusive Control"), the Securities Intermediary may distribute to comply with Entitlement Orders originated by the Grantor all interest and regular cash dividends on property in the AccountGrantor. (bc) If the Securities Intermediary receives from the [Secured Party Party] [Control Agent] a Notice of Exclusive Control with respect to the AccountControl, 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; 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] [Control Agent]. (ab) Until the Securities Intermediary receives a notice from the [Secured Party Party] [Control Agent] that the [Secured Party Party] [Control Agent] will exercise exclusive control over the Account (a "“Notice of Exclusive Control"”), the Securities Intermediary may distribute to comply with Entitlement Orders originated by the Grantor all interest and regular cash dividends on property in the AccountGrantor. (bc) If the Securities Intermediary receives from the [Secured Party Party] [Control Agent] a Notice of Exclusive Control with respect to the AccountControl, 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; 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] [Control Agent]. (ab) Until the Securities Intermediary receives a notice from the [Secured Party Party] [Control Agent] that the [Secured Party Party] [Control Agent] 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. (bc) 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 Party] [Control Agent] a Notice of Exclusive Control with respect to the AccountControl, 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; Grantor and (ii) distributing to the Grantor interest and dividends on property in the Account.