Common use of Investment Property (other than Certificated Securities) Clause in Contracts

Investment Property (other than Certificated Securities). (a) With respect to any Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property (other than LKE Accounts) owned or held by any Grantor, such Grantor will cause (i) the intermediary maintaining any such Investment Property with a principal balance in excess of $200,000 or (ii) if the aggregate principal balance for all such Investment Property exceeds $1,000,000, each intermediary maintaining any Investment Property, in each case to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Collateral Agent’s instructions with respect to such Investment Property without further consent by such Grantor. Notwithstanding the foregoing, the Collateral Agent agrees that it shall not give such instructions unless a Specified Default has occurred and is continuing. (b) If the aggregate value of all Uncertificated Securities (other than Uncertificated Securities credited to a Securities Account) owned or held by any Grantor exceeds $200,000, such Grantor will cause the issuer of such securities to either (i) register the Collateral Agent as the registered owner thereof on the books and records of the issuer or (ii) execute a Control Agreement relating to such Investment Property pursuant to which the issuer agrees to comply with the Collateral Agent’s instructions with respect to such Uncertificated Securities without further consent by such Grantor.

Appears in 3 contracts

Samples: Credit Agreement (SWIFT TRANSPORTATION Co), Credit Agreement (SWIFT TRANSPORTATION Co), Credit Agreement (Swift Transportation Co)

AutoNDA by SimpleDocs

Investment Property (other than Certificated Securities). Within 60 days of the Issue Date (a) With and at all times thereafter), with respect to (i) any Deposit Accounts, Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property (other than LKE Accounts) Collateral owned or held by any Grantor, such Grantor will shall cause (i) the intermediary maintaining any such Investment Property with a principal balance in excess of $200,000 or (ii) if the aggregate principal balance for all such Investment Property exceeds $1,000,000, each intermediary maintaining any Investment Property, in each case to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Collateral AgentTrustee’s instructions with respect to such Investment Property without further consent by such Grantor. Notwithstanding the foregoing, the Collateral Agent agrees that it shall not give such instructions unless a Specified Default has occurred and is continuing. or (bii) If the aggregate value of all any Uncertificated Securities (other than Uncertificated Securities credited to a Securities Account) constituting Investment Property owned or held by any Grantor exceeds $200,000such Grantor, such Grantor will cause the Pledged Interests Issuer or other issuer of such securities to either (iA) register the Collateral Agent Trustee as the registered owner thereof on the books and records of the issuer issuer, or (iiB) execute a Control Agreement relating to such Investment Property pursuant to which the Pledged Interests Issuer or other issuer agrees to comply with the Collateral AgentTrustee’s instructions with respect to such Uncertificated Securities without further consent by such Grantor.

Appears in 1 contract

Samples: Security Agreement (Energy XXI LTD)

Investment Property (other than Certificated Securities). (a) With respect to any Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property (other than LKE Accounts) owned or held by any Grantor, such Grantor will cause (i) the intermediary maintaining any such Investment Property with a principal balance in excess of $200,000 or (ii) if the aggregate principal balance for all such Investment Property exceeds $1,000,000, each intermediary maintaining any Investment Property, in each case to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Collateral Agent’s instructions with respect to such Investment Property without further consent by such Grantor. Notwithstanding the foregoing, the Collateral Agent agrees that it shall not give such instructions unless a Specified Event of Default has occurred and is continuing. (b) If the aggregate value of all Uncertificated Securities (other than Uncertificated Securities credited to a Securities Account) owned or held by any Grantor exceeds $200,000, such Grantor will cause the issuer of such securities to either (i) register the Collateral Agent as the registered owner thereof on the books and records of the issuer or (ii) execute a Control Agreement relating to such Investment Property pursuant to which the issuer agrees to comply with the Collateral Agent’s instructions with respect to such Uncertificated Securities without further consent by such Grantor.

Appears in 1 contract

Samples: Pledge and Security Agreement (Swift Transportation Co)

Investment Property (other than Certificated Securities). (a) With respect to any Deposit Accounts, Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property (other than LKE Accounts) owned or held by any Grantor, such Grantor will use commercially reasonable efforts to cause (i) the intermediary maintaining any such Investment Property with a principal balance in excess of $200,000 or (ii) if the aggregate principal balance for all such Investment Property exceeds $1,000,000, each intermediary maintaining any Investment Property, in each case to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Collateral Agent’s instructions with respect to such Investment Property without further consent by such Grantor. Notwithstanding the foregoing, the Collateral Agent agrees that it shall not give such instructions unless a Specified Default has occurred and is continuing. (b) If the aggregate value of all With respect to any Uncertificated Securities (other than Uncertificated Securities credited to a Securities Account) constituting Investment Property owned or held by any Grantor exceeds $200,000Grantor, such Grantor will use its commercially reasonable efforts to cause the issuer of such securities to either (i) register the Collateral Agent as the registered owner thereof on the books and records of the issuer or (ii) execute a Control Agreement relating to such Investment Property pursuant to which the issuer agrees to comply with the Collateral Agent’s instructions with respect to such Uncertificated Securities without further consent by such Grantor.

Appears in 1 contract

Samples: Pledge and Security Agreement (Ferro Corp)

Investment Property (other than Certificated Securities). (a) With respect to (i) any Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property (other than LKE Accounts) owned or held by any a Grantor, such Grantor will will, upon the Administrative Agent’s request, cause (i) the intermediary maintaining any such Investment Property with a principal balance in excess of $200,000 or (ii) if the aggregate principal balance for all such Investment Property exceeds $1,000,000, each intermediary maintaining any Investment Property, in each case to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Collateral Administrative Agent’s instructions with respect to such Investment Property without further consent by such Grantor. Notwithstanding the foregoing, the Collateral Agent agrees that it shall not give such instructions unless a Specified Default has occurred and is continuing. or (bii) If the aggregate value of all any Uncertificated Securities (other than Uncertificated Securities credited to a Securities Account) constituting Investment Property owned or held by any Grantor exceeds $200,000such Grantor, such Grantor will cause the Pledged Interests Issuer or other issuer of such securities to either (iA) register the Collateral Administrative Agent as the registered owner thereof on the books and records of the issuer issuer, or (iiB) execute a Control Agreement relating to such Investment Property pursuant to which the issuer Material Domestic Subsidiary of CEP agrees to comply with the Collateral Administrative Agent’s instructions with respect to such Uncertificated Securities without further consent by such Grantor.

Appears in 1 contract

Samples: Credit Agreement (Constellation Energy Partners LLC)

AutoNDA by SimpleDocs

Investment Property (other than Certificated Securities). (a) With respect to any Deposit Accounts, Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property (other than LKE Accounts) owned or held by any Grantor, such Grantor will cause (iexcept for Excluded Accounts) the intermediary maintaining any such Investment Property with a principal balance in excess of $200,000 or (ii) if the aggregate principal balance for all such Investment Property exceeds $1,000,000, each intermediary maintaining any Investment Property, in each case to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Collateral AgentLender’s instructions with respect to such Investment Property without further consent by such Grantor. Notwithstanding the foregoing, the Collateral Agent agrees that it shall not give such instructions unless a Specified Default has occurred and is continuing. (b) If the aggregate value of all With respect to any Uncertificated Securities (other than Uncertificated Securities credited to a Securities Account) constituting Investment Property owned or held by any Grantor exceeds $200,000Grantor, such Grantor will cause the issuer of such securities to either (i) register the Collateral Agent Lender as the registered owner thereof on the books and records of the issuer or (ii) execute a Control Agreement relating to such Investment Property pursuant to which the issuer agrees to comply with the Collateral AgentLender’s instructions with respect to such Uncertificated Securities without further consent by such Grantor. Each party hereto that is such an issuer of any Uncertificated Securities herby agrees that such party will comply with instructions with respect to such security originated by the Lender.

Appears in 1 contract

Samples: Pledge and Security Agreement (Unilife Corp)

Investment Property (other than Certificated Securities). (a) With respect to any Deposit Accounts, Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property (other than LKE Accounts) owned or held by any Grantor, such Grantor will cause will, unless otherwise permitted under the Credit Agreement, upon the Administrative Agent’s request either (i) cause the intermediary maintaining any such Investment Property with a principal balance in excess of $200,000 or (ii) if the aggregate principal balance for all such Investment Property exceeds $1,000,000, each intermediary maintaining any Investment Property, in each case to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Collateral Administrative Agent’s instructions with respect to such Investment Property without further consent by such Grantor, or (ii) transfer such Investment Property to intermediary’s that have or will agree to execute such Control Agreements. Notwithstanding the foregoing, the Collateral Agent agrees that it shall not give such instructions unless a Specified Default has occurred and is continuing. (b) If the aggregate value of all With respect to any Uncertificated Securities (other than Uncertificated Securities credited to a Securities Account) constituting Investment Property owned or held by any Grantor exceeds $200,000Grantor, such Grantor will cause the Pledged Interests Issuer or other issuer of such securities to either (i) register the Collateral Administrative Agent as the registered owner thereof on the books and records of the issuer issuer, or (ii) execute a Control Agreement relating to such Investment Property pursuant to which the Pledged Interests Issuer or other issuer agrees to comply with the Collateral Administrative Agent’s instructions with respect to such Uncertificated Securities without further consent by such Grantor.

Appears in 1 contract

Samples: Pledge and Security Agreement (Flotek Industries Inc/Cn/)

Investment Property (other than Certificated Securities). (a) With respect to any Deposit Accounts, Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property (other than LKE Accounts) owned or held by any Grantor, such Grantor will cause (iexcept for Excluded Accounts) the intermediary maintaining any such Investment Property with a principal balance in excess of $200,000 or (ii) if the aggregate principal balance for all such Investment Property exceeds $1,000,000, each intermediary maintaining any Investment Property, in each case to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Collateral AgentLender’s instructions with respect to such Investment Property without further consent by such Grantor. Notwithstanding the foregoing, the Collateral Agent agrees that it shall not give such instructions unless a Specified Default has occurred and is continuing. (b) If the aggregate value of all With respect to any Uncertificated Securities (other than Uncertificated Securities credited to a Securities Account) constituting Investment Property owned or held by any Grantor exceeds $200,000Grantor, such Grantor will cause the issuer of such securities to either (i) register the Collateral Agent Lender as the registered owner thereof on the books and records of the issuer or (ii) execute a Control Agreement relating to such Investment Property pursuant to which the issuer agrees to comply with the Collateral AgentLender’s instructions with respect to such Uncertificated Securities without further consent by such Grantor. Each party hereto that is such an issuer of any Uncertificated Securities hereby agrees that such party will comply with instructions with respect to such security originated by the Lender.

Appears in 1 contract

Samples: Pledge and Security Agreement (Unilife Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!