Maintenance of Account Generally. Subject to the rights of the Loan Party described herein, the Securities Intermediary agrees that, from and after the date hereof, the Account shall be under the exclusive dominion and control of the Collateral Agent and all Financial Assets of the Loan Party, whether or not deposited in or credited to the Account, shall be held by the Securities Intermediary solely for the benefit of the Collateral Agent. The Securities Intermediary shall follow its usual operational procedures for the handling of any Financial Assets or other property of the Loan Party received in the Account and shall maintain a record of all Financial Assets or other property received in the Account.
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Samples: Pledge Agreement (Duane Reade Holdings Inc), Pledge Agreement (Duane Reade)
Maintenance of Account Generally. Subject to the rights of the Loan Credit Party described herein, the Securities Intermediary agrees that, from and after the date hereof, the Account shall be under the exclusive dominion and control of the Collateral Agent and all Financial Assets of the Loan Credit Party, whether or not deposited in or credited to the Account, shall be held by the Securities Intermediary solely for the benefit of the Collateral Agent. The Securities Intermediary shall follow its usual operational procedures for the handling of any Financial Assets or other property of the Loan Credit Party received in the Account and shall maintain a record of all Financial Assets or other property received in the Account.
Appears in 2 contracts
Samples: Credit Agreement (Be Aerospace Inc), Security Agreement (Be Aerospace Inc)
Maintenance of Account Generally. Subject to the rights of the Loan Party described herein, the Securities Intermediary agrees that, from and after the date hereof, the Account shall be under the exclusive dominion and control of the Collateral Agent and all Financial Assets of the Loan Party, whether or not deposited in or credited to the Account, shall be held by the Securities Intermediary solely for the benefit of the Collateral Agent. The Securities Intermediary shall follow its usual operational procedures for the handling of any Financial Assets or other property of the Loan Party received in the Account and shall maintain a record of all Financial Assets or other property received in the Account.
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