Common use of Control of Accounts Clause in Contracts

Control of Accounts. The Administrative Agent shall have the right at any time after a Transaction Account Control Event has occurred to assume control, or direct the Collateral Agent to assume control, over the Lockbox Account and the Collection Account, and direct the bank maintaining the Lockbox Account and the Collection Account to transfer the funds in the Lockbox Account and the Collection Account to an account designated by the Administrative Agent. The Seller and the Servicer shall cooperate fully with the Administrative Agent in effecting any such transfer of control.

Control of Accounts. The Administrative Agent shall have the right at any time after a Transaction Account Control Event has occurred to assume control, or direct the Collateral Agent to assume control, exclusive control over the each Lockbox Account and the Collection Account, and direct the bank maintaining the Lockbox Account and the Collection Account to transfer the funds in the Lockbox Account and name of the Collection Account to an account designated by the Administrative AgentOriginator. The Seller and the Servicer Originator shall cooperate fully with the Administrative Agent in effecting any such transfer of exclusive control.