Common use of Change of Securities Intermediaries Clause in Contracts

Change of Securities Intermediaries. No Grantor will change or add any securities intermediary that maintains any securities account in which any of the Security Collateral is credited or carried, or change or add any such securities account, in each case without first complying with the above provisions of this Section 5 in order to perfect the security interest granted hereunder in such Collateral.

Appears in 2 contracts

Sources: Security Agreement (Foster Wheeler Inc), Security Agreement (Foster Wheeler Inc)