Common use of DOMINION AGREEMENT Clause in Contracts

DOMINION AGREEMENT. 5. Without limiting the foregoing, Collecting Bank does hereby acknowledge and agree that Lakes is the holder of a prior perfected security interest in the Project Revenues notwithstanding their deposit into the Collection Bank Account or their other transfer to the Collecting Bank, and hereby waives any conflicting security interest or rights of set off in or to any of such Project Revenues and related Collateral.