Common use of Securities Collateral Held By Intermediaries Clause in Contracts

Securities Collateral Held By Intermediaries. If any Pledged Securities, whether Certificated or Uncertificated, or other Securities Collateral, now held or hereafter acquired by the Pledgor are held by the Pledgor or its nominee through a Securities Intermediary, the Pledgor shall immediately notify the Administrative Agent of such fact and, at the request and option of the Administrative Agent, (a) cause any certificates representing such Pledged Securities to be delivered to the Administrative Agent in accordance with Section 3.01, or (b) pursuant to an agreement in form and substance reasonably satisfactory to the Administrative Agent, either (i) cause such Securities Intermediary to agree to comply with Entitlement Orders or other instructions from the Administrative Agent to such Securities Intermediary as to such Pledged Securities or other Securities Collateral without further consent of the Pledgor or such nominee, or (ii) arrange for the Administrative Agent to become the Entitlement Holder with respect to such Pledged Securities or other Securities Collateral, with the Pledgor being permitted, only with the consent of the Administrative Agent, to exercise rights to withdraw or otherwise deal with such Pledged Securities or other Securities Collateral.