Delivery and Control. With respect to any Investment Related Property consisting of Securities Accounts or Securities Entitlements, it shall cause the securities intermediary maintaining such Securities Account or Securities Entitlement to enter into a securities account control agreement in a form to be approved by the Collateral Agent in its reasonable discretion pursuant to which it shall agree to comply with the Collateral Agent’s “entitlement orders” without further consent by such Grantor after and during the continuance of an Event of Default. To the extent required by Section 5.15 of the Credit Agreement, with respect to any Investment Related Property that is a “Deposit Account,” it shall cause the depositary institution maintaining such account to enter into a deposit account control agreement in a form to be approved by the Collateral Agent in its reasonable discretion, pursuant to which the Collateral Agent shall have “control” (within the meaning of Section 9-104 of the UCC) over such Deposit Account. Each Grantor shall have entered into such control agreement or agreements required above with respect to: (i) any Securities Accounts, Securities Entitlements or Deposit Accounts that exist on the Closing Date, within 60 days after the Closing Date and (ii) any Securities Accounts, Securities Entitlements or Deposit Accounts that are created or acquired after the Closing Date, as of or prior to the deposit or transfer of any such Securities Entitlements or funds, whether constituting moneys or investments, into such Securities Accounts or Deposit Accounts.
Appears in 2 contracts
Sources: Second Lien Pledge and Security Agreement (Paramount Acquisition Corp), First Lien Pledge and Security Agreement (Paramount Acquisition Corp)
Delivery and Control. With respect to any Investment Related Property consisting of Securities Accounts or Securities EntitlementsEntitlements not otherwise covered by the Deposit Agreement, it shall cause the securities intermediary maintaining such Securities Account or Securities Entitlement to enter into a securities account control an agreement in a form and substance reasonably satisfactory to be approved by the Collateral Agent in its reasonable discretion pursuant to which it shall agree to comply with the Collateral Agent’s “'s "entitlement orders” " without further consent by such Grantor after and during the continuance of an Event of DefaultGrantor. To the extent required by Section 5.15 of the Credit Agreement, with With respect to any Investment Related Property that is a “"Deposit Account,” " not otherwise covered by the Deposit Agreement, it shall cause the depositary institution maintaining such account to enter into a deposit account control an agreement in a form and substance reasonably satisfactory to be approved by the Collateral Agent in its reasonable discretionAgent, pursuant to which the Collateral Agent shall have “"control” " (within the meaning of Section 9-104 of the UCC) over such Deposit Account. Each Grantor shall have entered into such control agreement or agreements required above with respect to: (i) any Securities Accounts, Securities Entitlements or Deposit Accounts that exist on the Closing Datedate hereof, within 60 days after as of or prior to the Closing Date date hereof, and (ii) any Securities Accounts, Securities Entitlements or Deposit Accounts that are created or acquired after the Closing Datedate hereof, as of or prior to the deposit or transfer of any such Securities Entitlements or funds, whether constituting moneys or investments, into such Securities Accounts or Deposit Accounts.
Appears in 2 contracts
Sources: Pledge and Security Agreement (MSW Energy Hudson LLC), Pledge and Security Agreement (Uae Ref Fuel Ii Corp)
Delivery and Control. With (i) Each Grantor agrees that with respect to any Investment Related Property owned by such Grantor consisting of Securities Accounts or Securities Entitlementsentitlements, it shall cause the securities intermediary maintaining such Securities Account or Securities Entitlement entitlement to enter into a securities account control an agreement substantially in a the form to be approved by the Collateral Agent in its reasonable discretion of EXHIBIT C hereto pursuant to which it shall agree to comply with the Collateral Agent’s “'s "entitlement orders” " without further consent by such Grantor. Each Grantor after and during the continuance of an Event of Default. To the extent required by Section 5.15 of the Credit Agreement, also agrees that with respect to any Investment Related Property owned by such Grantor that is a “Deposit Account,” , it shall cause the depositary institution maintaining such account to enter into a deposit account control agreement in a form to be approved by the Collateral Agent in its reasonable discretionControlled Account Agreement, pursuant to which the Collateral Agent shall have “both sole dominion and control over such Deposit Account (within the meaning of the common law) and "control” " (within the meaning of Section 9-104 of the UCC) over such Deposit Account. Each Grantor shall have entered into such control agreement or agreements required above with respect to: (i) any Securities Accounts, Securities Entitlements entitlements or Deposit Accounts that exist on the Closing Representation Date, within 60 days after as of or prior to the Closing Representation Date and (ii) any Securities Accounts, Securities Entitlements entitlements or Deposit Accounts that are created or acquired after the Closing Representation Date, as of or prior to the deposit or transfer of any such Securities Entitlements entitlements or funds, whether constituting moneys or investments, into such Securities Accounts or Deposit Accounts.
Appears in 1 contract
Delivery and Control. With (i) Each Grantor agrees that with respect to any Investment Related Property owned by such Grantor consisting of Securities Accounts or Securities Entitlements, it shall cause the securities intermediary maintaining such Securities Account or Securities Entitlement to enter into a securities account control an agreement substantially in a the form to be approved by the Collateral Agent in its reasonable discretion of Exhibit C hereto pursuant to which it shall agree to comply with the Collateral Agent’s “'s "entitlement orders” " without further consent by such Grantor. Each Grantor after and during the continuance of an Event of Default. To the extent required by Section 5.15 of the Credit Agreement, also agrees that with respect to any Investment Related Property owned by such Grantor that is a “"Deposit Account,” " it shall cause the depositary institution maintaining such account to enter into a deposit account control agreement in a form to be approved by the Collateral Agent in its reasonable discretionControlled Account Agreement, pursuant to which the Collateral Agent shall have “both sole dominion and control over such Deposit Account (within the meaning of the common law) and "control” " (within the meaning of Section 9-104 of the UCC) over such Deposit Account. Each Grantor shall have entered into such control agreement or agreements required above with respect to: (i) any Securities Accounts, Securities Entitlements or Deposit Accounts that exist on the Closing Representation Date, within 60 days after as of or prior to the Closing Representation Date and (ii) any Securities Accounts, Securities Entitlements or Deposit Accounts that are created or acquired after the Closing Representation Date, as of or prior to the deposit or transfer of any such Securities Entitlements or funds, whether constituting moneys or investments, into such Securities Accounts or Deposit Accounts.. Exhibit E-19
Appears in 1 contract
Delivery and Control. With respect to any Investment Related Property consisting of Securities Accounts or Securities Entitlements, it shall cause the securities intermediary maintaining such Securities Account or Securities Entitlement to enter into a securities account control an agreement substantially in a the form to be approved by the Collateral Agent in its reasonable discretion of Exhibit C hereto pursuant to which it shall agree to comply with the Collateral Agent’s “entitlement orders” without further consent by such Grantor after and during the continuance of an Event of Default. To the extent required by Section 5.15 of the Credit Agreement, with respect to any Investment Related Property that is a “Deposit Account,” it shall cause the depositary institution maintaining such account to enter into a deposit account control an agreement substantially in a the form to be approved by the Collateral Agent in its reasonable discretionof Exhibit D hereto, pursuant to which the Collateral Agent shall have both sole dominion and control over such Deposit Account (within the meaning of the common law) and “control” (within the meaning of Section 9-104 of the UCC) over such Deposit Account. Each Grantor shall have entered into such control agreement or agreements required above with respect to: (i) any Securities Accounts, Securities Entitlements or Deposit Accounts that exist on the Closing Credit Date, within 60 days after as of or prior to the Closing Credit Date and (ii) any Securities Accounts, Securities Entitlements or Deposit Accounts that are created or acquired after the Closing Credit Date, as of or prior to the deposit or transfer of any such Securities Entitlements or funds, whether constituting moneys or investments, into such Securities Accounts or Deposit Accounts.
Appears in 1 contract
Sources: Credit and Guaranty Agreement (Prommis Solutions Holding Corp.)