Grantor’s Rights in Uncertificated Security. (a) Until the Issuer receives a notice from the Secured Party that the Secured Party will exercise exclusive control over the Uncertificated Security (a “Notice of Exclusive Control”), the Issuer may comply with Entitlement Orders or other directions concerning the Uncertificated Security originated by the Grantor and may distribute to the Grantor all interest and regular cash dividends on the Uncertificated Security.
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Samples: Junior Lien Pledge Agreement (Energy Future Holdings Corp /TX/), Pledge Agreement (EFIH Finance Inc.), Pledge Agreement (Energy Future Intermediate Holding CO LLC)
Grantor’s Rights in Uncertificated Security. (a) Until the Issuer receives a notice from the Secured Party that the Secured Party will exercise exclusive control over the Uncertificated Security (a “Notice of Exclusive Control”), the Issuer may comply with Entitlement Orders or other directions concerning the Uncertificated Security originated by the Grantor and may distribute to the Grantor all interest and regular cash dividends on the Uncertificated Security.
Appears in 3 contracts
Samples: Collateral Trust Agreement (EFIH Finance Inc.), Collateral Trust Agreement (Energy Future Intermediate Holding CO LLC), Collateral Trust Agreement (Energy Future Intermediate Holding CO LLC)
Grantor’s Rights in Uncertificated Security. (a) Until the Issuer receives a notice from the Secured Party that the Secured Party will exercise exclusive control over the Uncertificated Security (a “Notice of Exclusive Control”), the Issuer may comply with Entitlement Orders or other directions concerning the Uncertificated Security originated orginated by the Grantor and may distribute to the Grantor all interest and regular cash dividends on the Uncertificated Security.
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