Common use of Notice of Security Interest Clause in Contracts

Notice of Security Interest. The Grantor, the Administrative Agent and the Broker are entering into this Control Agreement to perfect, and to confirm the priority of, the Administrative Agent's security interest in the Collateral. The Broker acknowledges that this Control Agreement constitutes written notification to the Broker of the Administrative Agent's security interest in the Collateral. The Broker agrees to promptly make all necessary entries or notations in its books and records to reflect the Administrative Agent's security interest in the Collateral. The Broker acknowledges that the Administrative Agent has control over the Pledged Account and all commodity contracts and any free credit balance carried therein from time to time.

Notice of Security Interest. The Grantor, the Administrative Collateral Agent and the Broker are entering into this Control Agreement to perfect, and to confirm the priority of, the Administrative Collateral Agent's ’s security interest in the Collateral. The Broker acknowledges that this Control Agreement constitutes written notification to the Broker of the Administrative Collateral Agent's ’s security interest in the Collateral. The Broker agrees to promptly make all necessary entries or notations in its books and records to reflect the Administrative Collateral Agent's ’s security interest in the Collateral. The Broker acknowledges that the Administrative Collateral Agent has control over the Pledged Account and all commodity contracts and any free credit balance carried therein from time to time.