Common use of Securities Accounts and Commodity Accounts Clause in Contracts

Securities Accounts and Commodity Accounts. Each Pledgor hereby represents and warrants that (i) as of the date hereof, it has neither opened nor maintains any Securities Accounts or Commodity Accounts other than those listed on Schedule 16 to the Perfection Certificate, (ii) such Pledgor and each applicable Securities Intermediary or Commodity Intermediary has executed and delivered a Securities Account Control Agreement or Commodity Account Control Agreement, as applicable, for each Securities Account or Commodity Account of such Pledgor listed on Schedule 16 to the Perfection Certificate, (iii) the Collateral Agent has a valid and enforceable perfected first priority security interest (subject to Permitted Liens) in each such Securities Account and Commodity Account by Control, and (iv) it does not hold, own or have any interest in any certificated securities or uncertificated securities other than those constituting Pledged Securities and those maintained in Securities Accounts or Commodity Accounts listed on Schedule 16 of the Perfection Certificate or in respect of which the Collateral Agent has Control.

Securities Accounts and Commodity Accounts. Each Pledgor hereby represents and warrants that (i) as of the date hereof, it has neither opened nor maintains any Securities Accounts or Commodity Accounts other than Excluded Accounts and those listed on Schedule 16 10 to the Perfection Certificate, (ii) such Pledgor and each applicable Securities Intermediary or Commodity Intermediary has executed and delivered a Securities Account Control Agreement or Commodity Account Control Agreement, as applicable, for each Securities Account or Commodity Account of such Pledgor listed on Schedule 16 10 to the Perfection Certificate, other than Excluded Accounts, (iii) the Collateral Agent has a valid and enforceable perfected first priority security interest (subject to Permitted Liens) in each such Securities Account and Commodity Account that constitutes Collateral by Control, and (iv) it does not hold, own or have any interest in any certificated securities or uncertificated securities constituting Collateral other than those constituting Pledged Securities and those maintained in Securities Accounts or Commodity Accounts listed on Schedule 16 10 of the Perfection Certificate or in Excluded Accounts or in respect of which the Collateral Agent has Control. None of the provisions of this Section 3.4(c) shall apply to any Excluded Account.