Examples of Collateral Agent in a sentence
Until the Termination Date, the Collateral Agent shall have “control” (within the meaning of Section 8-106(d)(2) or Section 9-104(a) (as applicable) of the UCC) of the Accounts and the Authority’s “security entitlements” (within the meaning of Section 8-102(a)(17) of the UCC, each a “Security Entitlement”) with respect to the financial assets credited to the Accounts.
All securities and other financial assets, and all funds and other property from time to time on deposit in or credited to each Account shall be (i)(A) registered in the name of, or payable to or to the order of, such Depositary Bank for the benefit of the Collateral Agent, or (B) endorsed to or to the order of such Depositary Bank in blank, and (ii) held by such Depositary Bank for the purposes and on the terms set forth in this Agreement.
The Collateral Agent, the Trust, the Authority, the Calculation Agent, and Servicer each hereby agree that it shall not deliver any notices or instructions to any Depositary Bank with respect to transfers to or from the Accounts except as expressly permitted or required under this Agreement or the Sale Documents.
In the case of a conflict between any instruction or order originated by the Collateral Agent and any instruction or order originated by the Servicer, the Calculation Agent, the Trust, the Authority or any other Person other than a court of competent jurisdiction, the instruction or order originated by the Collateral Agent shall prevail.
The Authority agrees that it shall promptly notify the Trust, the Collateral Agent, and the Depositary Bank as to the occurrence of the Release Date.