Common use of Exclusive Control Clause in Contracts

Exclusive Control. (i) Upon receipt by State Street of a Notice of Exclusive Control from the Trust, State Street shall thereafter follow only the instructions or entitlement orders of the Trust with respect to the Collateral Accounts and shall comply with any entitlement order (within the meaning of Section 8-102(a)(8) of the UCC) or instructions received from the Trust without further consent of AP, and State Street will not comply with entitlement orders or instructions from AP concerning the Collateral without the prior written consent of the Trust. (ii) AP acknowledges that the Trust may issue to State Street a Notice of Exclusive Control at any time without prior notice to AP in the event the Trust determines to use the assets in the Collateral Accounts to satisfy AP’s obligations under the AP Agreement. The Trust will make commercially reasonable efforts to notify AP of any issuance of a Notice of Exclusive Control substantially concurrently with the issuance thereof to State Street. It is acknowledged and agreed that any failure by the Trust to so concurrently notify AP of the issuance of the Notice of Exclusive Control shall in no way invalidate such Notice of Exclusive Control or adversely affect in any way the Trust’s right to take exclusive possession of the assets in the Collateral and the Collateral Accounts as stated in such Notice of Exclusive Control and in no event shall State Street or the Trust be liable for any loss suffered by AP as a result of the failure to receive such notification.

Exclusive Control. (i) Upon receipt by State Street of a Notice of Exclusive Control from the Trust, State Street shall thereafter follow only the instructions or entitlement orders of the Trust with respect to the Collateral Accounts and shall comply with any entitlement order (within the meaning of Section 8-102(a)(8) of the UCC) or instructions received from the Trust without further consent of AP, and State Street will not comply with entitlement orders or instructions from AP concerning the Collateral without the prior written consent of the Trust. (ii) AP acknowledges that the Trust may issue to State Street a Notice of Exclusive Control at any time without prior notice to AP in the event the Trust determines to use the assets in the Collateral Accounts to satisfy AP’s 's obligations under the AP Agreement. The Trust will make commercially reasonable efforts to notify AP of any issuance of a Notice of Exclusive Control substantially concurrently with the issuance thereof to State Street. It is acknowledged and agreed that any failure by the Trust to so concurrently notify AP of the issuance of the Notice of Exclusive Control shall in no way invalidate such Notice of Exclusive Control or adversely affect in any way the Trust’s 's right to take exclusive possession of the assets in the Collateral and the Collateral Accounts as stated in such Notice of Exclusive Control and in no event shall State Street or the Trust be liable for any loss suffered by AP as a result of the failure to receive such notification.