Perfection by Control. The Borrower shall furnish the Collateral Agent with properly executed Qualifying Control Agreements and evidence of the placement of a restrictive legend with respect to any Collateral in which a security interest perfected by control or accompanied by such restrictive legending shall have priority as against a lien creditor, a purchaser of such Collateral from the Borrower, or a security interest perfected by Persons not having control or not accompanied by such restrictive legending, in each case in form and substance acceptable to the Collateral Agent and sufficient under applicable law so that the Collateral Agent, for the benefit of the Secured Parties, shall have a security interest in all such Collateral perfected by control.
Appears in 2 contracts
Sources: Credit Agreement, Credit Agreement