Common use of Control of Collateral Account Clause in Contracts

Control of Collateral Account. All right, title and interest in and to the Collateral Account shall vest in the Collateral Agent, and funds on deposit in the Collateral Account shall constitute part of the Collateral. The Collateral Account shall be subject to the exclusive dominion and control of the Collateral Agent. Without limitation of the preceding sentence, if a Notice of Acceleration is in effect and subject to the rights and duties of the Collateral Agent in this Section 3, the Collateral Agent will comply with instructions originated by the Applicable Directing Parties or any Holder Representative, as applicable, as provided herein, directing disposition of the funds in the Collateral Account without further consent by the Grantors. To the extent of its right, title and interest therein, each Grantor hereby grants a security interest in and lien on the Collateral Account, the Collections, other items in the Collateral Account and the proceeds thereof to the Collateral Agent for the benefit of the Secured Parties, as collateral security for such Grantor’s Secured Obligations. The Grantors shall have no rights (including to make withdrawals from or give instructions) with respect to the Collateral Account or any funds contained therein except as otherwise expressly provided in Sections 3.1 and 3.3 of this Agreement.

Control of Collateral Account. All right, title and interest in and to the Collateral Account shall vest in the Collateral Agent, and funds on deposit in the Collateral Account shall constitute part of the Collateral. The Collateral Account shall be subject to the exclusive dominion and control of the Collateral Agent. Without limitation of the preceding sentence, if a Notice of Acceleration is in effect and subject to the rights and duties of the Collateral Agent in this Section 3, the Collateral Agent will comply with instructions originated by the Applicable Directing Parties or any Primary Holder Representative, as applicable, as provided herein, directing disposition of the funds in the Collateral Account without further consent by the Grantors. To the extent of its right, title and interest therein, each Grantor hereby grants a security interest in and lien on the Collateral Account, the Collections, other items in the Collateral Account and the proceeds thereof to the Collateral Agent for the benefit of the Secured Parties, as collateral security for such Grantor’s 's Secured Obligations. The Grantors shall have no rights (including to make withdrawals from or give instructions) with respect to the Collateral Account or any funds contained therein except as otherwise expressly provided in Sections 3.1 and 3.3 of this Agreement.

Control of Collateral Account. All right, title and interest in and to the Collateral Account shall vest in the Collateral AgentTrustee, and funds on deposit in the Collateral Account shall constitute part of the CollateralTrust Estate. The Collateral Account shall be subject to the exclusive dominion and control of the Collateral AgentTrustee. Without limitation of the preceding sentence, if a Notice of Acceleration is in effect and subject to the rights and duties of the Collateral Agent Trustee in this Section 3, the Collateral Agent Trustee will comply with instructions originated by the Applicable Directing Parties or any Primary Holder Representative, as applicable, as provided herein, directing disposition of the funds in the Collateral Account without further consent by the Grantors. To the extent of its right, title and interest therein, each Grantor hereby grants a security interest in and lien on the Collateral Account, the CollectionsTrust Monies, other items in the Collateral Account and the proceeds thereof to the Collateral Agent Trustee for the benefit of the Secured Parties, as collateral security for such Grantor’s Secured Obligations. The Grantors shall have no rights (including to make withdrawals from or give instructions) with respect to the Collateral Account or any funds contained therein except as otherwise expressly provided in Sections 2.11(b), 3.1 and 3.3 of this Agreement.