Control by the Secured Party. The Collateral Agent shall comply with notices and instructions given by the Trust Depositor only if accompanied by the written consent of the Secured Party, except that if any Default shall have occurred and be continuing, the Collateral Agent shall act upon and comply with written notices and instructions given by the Secured Party alone in the place and stead of the Trust Depositor.
Appears in 3 contracts
Sources: Security Agreement (Eaglemark Inc), Security Agreement (Harley Davidson Customer Funding Corp), Security Agreement (Eaglemark Inc)