Control by Borrower Clause Samples

Control by Borrower. Unless and until the Custodian receives written notice from FRBB pursuant to Section 2.3 below instructing the Custodian that FRBB is exercising its right to exclusive control over the Collateral Accounts (it being understood that the notice shall be in substantially the form attached hereto as Exhibit A (a “Notice of Exclusive Control”) and that the Custodian shall act as soon as reasonably possible but in any event within two (2) Business Days), or if all previous Notices of Exclusive Control have been revoked or rescinded in writing by FRBB: (i) the Custodian shall take actions with respect to the property credited to the Collateral Accounts upon the instructions of the Credit Administrator (on behalf of the Borrower) or the Managing Member and (ii) the Custodian shall have no responsibility or liability to FRBB or Borrower for actions taken in accordance with such instructions.