Commodity Accounts. On the Effective Date (in the case of an Original Grantor) or the date on which it signs and delivers its first Security Agreement Supplement (in the case of any other Grantor), such Grantor will enter into (and cause the relevant Commodity Intermediary to enter into) a Commodity Account Control Agreement in respect of each Commodity Account owned by it and will deliver such Commodity Account Control Agreement to the Administrative Agent (which shall enter into the same). Thereafter, such Grantor will cause each Commodity Contract owned by it to be carried at all times in a Controlled Commodity Account.
Appears in 2 contracts
Sources: Guarantee and Security Agreement (Cloud Peak Energy Inc.), Guarantee and Security Agreement (Cloud Peak Energy Inc.)