Common use of Priority of Secured Party’s Security Interest Clause in Contracts

Priority of Secured Party’s Security Interest. (a) The Securities Intermediary subordinates in favor of the Secured Party any security interest, lien, or right of setoff it may have, now or in the future, against the Account or property in the Account, except that the Securities Intermediary will retain its prior lien on property in the Account to secure payment for property purchased for the Account and normal commissions and fees for the Account. (b) The Securities Intermediary will not agree with any Person not party to this Agreement that the Securities Intermediary will comply with Entitlement Orders originated by such Person.

Priority of Secured Party’s Security Interest. (a) The Securities Intermediary subordinates in favor of the Secured Party any security interest, lien, or right of setoff or other claim it may have, now or in the future, against the Account or property in the Account, except that the Securities Intermediary will retain its prior lien on property in the Account to secure payment for property purchased for the Account and normal commissions and fees for the Account. (b) The Securities Intermediary has not agreed with, and will not agree with with, any Person person or entity not party to this Agreement that the Securities Intermediary will comply with Entitlement Orders originated by such Personperson or entity.

Priority of Secured Party’s Security Interest. (a) The Securities Commodity Intermediary subordinates in favor of the Secured Party any security interest, lien, or right of setoff or other claim it may have, now or in the future, against the Account or property commodity contracts carried in the Account, except that the Securities Commodity Intermediary will retain its prior lien on property commodity contracts in the Account to secure payment for property purchased for the Account and normal commissions and fees for the Account. (ba) The Securities Commodity Intermediary has not agreed with, and will not agree with with, any Person person or entity not party to this Agreement that the Securities Commodity Intermediary will comply with Entitlement Orders originated by such Personperson or entity.

Priority of Secured Party’s Security Interest. (a) The Securities Intermediary subordinates in favor of the Secured Party Agents any security interest, lien, or right of setoff set-off it may have, now or in the future, against the Account or property in the Account, except that the Securities Intermediary will shall retain its prior lien on property in the Account to secure payment for property purchased for the Account and normal commissions and fees for the Account. (b) The Securities Intermediary will not agree with any Person not party to this Agreement that the Securities Intermediary will comply with Entitlement Orders originated by such Person.

Priority of Secured Party’s Security Interest. (a) The Securities Intermediary subordinates in favor of the Secured Party any security interest, lien, or right of setoff it may have, now or in the future, against the Account or property in the Account, except that the Securities Intermediary will retain its prior lien on property in the Account to secure payment for property purchased for the Account and normal commissions and fees for the Account. (b) The Securities Intermediary will not agree with any Person not party to this Agreement Agreement, other than the First Priority Secured Party, that the Securities Intermediary will comply with Entitlement Orders originated by such Person.

Priority of Secured Party’s Security Interest. (a) The Securities Intermediary subordinates in favor of the Secured Party any security interest, lien, or right of setoff it may have, now or in the future, against the Account or property in the Account, except that the Securities Intermediary will retain its prior lien on property in the Account to secure payment for property purchased for the Account and normal commissions and fees for the Account. (b) The Securities Intermediary will not agree with any Person not party to this Agreement that the Securities Intermediary will comply with Entitlement Orders originated by such PersonPerson other than the holders of the Subordinated Cerberus Notes; provided that any rights of control under any such agreement will not take effect until the termination of the Security Agreement.