Perfection of Accounts. For the purpose of perfecting the security interest of the Secured Parties in and to the Funds and all funds, cash, investments, instruments and securities at any time on deposit in the Funds, the Depositary Agent shall be deemed to be holding the Funds and all such funds, cash, investments, instruments and securities as agent for the Collateral Agent and the Secured Parties.
Appears in 2 contracts
Sources: Security Agreement (Panda Interfunding Corp), Security Agreement (Panda Interfunding Corp)
Perfection of Accounts. For the purpose of perfecting the security interest Security Interest of the Secured Parties in and to the Funds Accounts and all funds, cash, investments, instruments and securities at any time on deposit in the FundsAccounts, the Depositary Agent shall be deemed to be holding the Funds Accounts and all such funds, cash, investments, instruments and securities as agent for Agent and the Collateral Secured Parties (other than the Local Bank Accounts (if any) and all funds, cash, investments, instruments and securities therein, which shall be held by the Local Bank as agent for Agent and the Secured Parties).
Appears in 1 contract
Sources: Assignment and Security Agreement (NRG Generating U S Inc)