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

Investment Property (other than Certificated Securities). (i) With respect to any Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property owned or held by any Grantor, such Grantor will, following (A) the occurrence and during the continuance of an Event of Default and (B) the request of the Administrative Agent, either (1) cause the intermediary maintaining such Investment Property to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Administrative Agent’s instructions with respect to such Investment Property without further consent by such Grantor, or (2) transfer such Investment Property to intermediaries that have or will agree to execute such Control Agreements.

Appears in 2 contracts

Samples: Credit Agreement (Nine Energy Service, Inc.), Credit Agreement (Nine Energy Service, Inc.)

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Investment Property (other than Certificated Securities). (i) With respect to any Deposit Accounts, Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property owned or held by any GrantorGrantor (other than constituting Excluded Collateral or Excluded Perfection Collateral), such Grantor will, following (A) unless otherwise permitted under the occurrence and during the continuance of an Event of Default and (B) the request of Credit Agreement, upon the Administrative Agent, ’s reasonable request either (1A) cause the intermediary maintaining such Investment Property to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Administrative Agent’s instructions with respect to such Investment Property without further consent by such Grantor, or (2B) transfer such Investment Property to intermediaries that have or will agree to execute such Control Agreements.

Appears in 1 contract

Samples: Pledge and Security Agreement (Penn Virginia Corp)

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Investment Property (other than Certificated Securities). (i) With respect to any Deposit Accounts, Securities Accounts, Commodity Accounts, Commodity Contracts or Security Entitlements constituting Investment Property owned or held by any Grantor, such Grantor will, following (A) the occurrence and during the continuance of an Event of Default and (B) the request of the Administrative Agent, either (1) cause the intermediary maintaining such Investment Property to execute a Control Agreement relating to such Investment Property pursuant to which such intermediary agrees to comply with the Administrative Agent’s instructions with respect to such Investment Property without further consent by such Grantor, or (2) transfer such Investment Property to intermediaries that have or will agree to execute such Control Agreements.

Appears in 1 contract

Samples: Credit Agreement (Forum Energy Technologies, Inc.)

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