Secured Party Control. Bank, Secured Party, Servicer and Company each agree that Bank will comply with instructions given to Bank by Secured Party directing disposition of funds in the Collateral Accounts (“Disposition Instructions”) without further consent by Company or Servicer. Except as otherwise required by law, Bank will not agree with any third party to comply with instructions for disposition of funds in the Collateral Accounts originated by such third party.
Secured Party Control. Section 3.1 Control for Purposes of UCC................................ 2 Section 3.2 Conflicting Orders or Instructions......................... 2
Secured Party Control. Bank, Secured Party and Company each agree that Bank will comply with instructions given to Bank by Secured Party directing disposition of funds in the Collateral Accounts (“Disposition Instructions”) without further consent by Company. Except as otherwise required by law, Bank will not agree with any third party to comply with instructions for disposition of funds in the Collateral Accounts originated by such third party. Except for that certain Deposit Account Control dated October 30, 2013, by and among the Company, Ares Capital Corporation and Bank which shall be terminated simultaneously with or prior to the effective time of this Agreement, Bank represents that it has not entered into any other still effective control agreements with respect to the Collateral Account. Bank further represents and that (i) each Collateral Account is a “deposit account” (as defined in Article 9 of the Uniform Commercial Code), and (ii) is a “bank” (as defined in Article 9 of the Uniform Commercial Code).
Secured Party Control
