Common use of Perfection of Security Interest in the Blocked Account Clause in Contracts

Perfection of Security Interest in the Blocked Account. The security interest created by the Equity Funding Agreement in such of Sponsor Member’s rights in the Blocked Account (as defined in the Blocked Account Control Agreement) and the financial assets held therein or credited thereto and the proceeds thereof as consists of securities accounts is perfected by the execution and delivery of the Blocked Account Control Agreement.