Common use of Notice of Sole Control Clause in Contracts

Notice of Sole Control. If at any time the Administrative Agent delivers to the Securities Intermediary a notice of sole control in substantially the form set forth in Exhibit A attached hereto (the “Notice of Sole Control”) with respect to any Designated Account, the Securities Intermediary agrees that, after receipt of such notice, it will take all instructions with respect to such Designated Account solely from the Administrative Agent. Permitting settlement of trades pending at the time of receipt of such notice shall not constitute a violation of the immediately preceding sentence. Without limiting the generality of the first sentence of this paragraph, upon receipt of a Notice of Sole Control, the Securities Intermediary shall (x) no longer permit any trading with respect to the applicable Investment Collateral to be initiated by the Company or any representative of, or investment manager appointed by, the Company and the Securities Intermediary shall follow all instructions given by an authorized officer of the Administrative Agent, including without limitation instructions for distribution or transfer of any Investment Collateral or other Investment Property in any Designated Account to be made to the Administrative Agent and (y) follow all instructions given by an authorized officer of the Administrative Agent, including, without limitation, instructions for distribution or transfer of any funds in any Designated Account to be made to the Administrative Agent.

Appears in 6 contracts

Samples: Control Agreement (Bearingpoint Inc), Control Agreement (Department 56 Inc), Control Agreement (Department 56 Inc)

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Notice of Sole Control. If at any time the Administrative Agent delivers to the Securities Intermediary a notice of sole control in substantially the form set forth in Exhibit A attached hereto (the “Notice of Sole Control”) with respect to any Designated Account, the Securities Intermediary agrees that, after receipt of such notice, it will take all instructions with respect to such Designated Account solely from the Administrative Agent. Permitting settlement of trades pending at the time of receipt of such notice shall not constitute a violation of the immediately preceding sentence. Without limiting the generality of the first sentence of this paragraph, upon receipt of a Notice of Sole Control, the Securities Intermediary shall (x) no longer permit any trading with respect to the applicable Investment Collateral to be initiated by the Company Pledgor or any representative of, or investment manager appointed by, the Company Pledgor and the Securities Intermediary shall follow all instructions given by an authorized officer of the Administrative Agent, including without limitation instructions for distribution or transfer of any Investment Collateral or other Investment Property in any Designated Account to be made to the Administrative Agent and (y) follow all instructions given by an authorized officer of the Administrative Agent, including, without limitation, including instructions for distribution or transfer of any funds in any Designated Account to be made to the Administrative Agent.

Appears in 2 contracts

Samples: Control Agreement (BRP (Luxembourg) 4 S.a.r.l.), Control Agreement (Bombardier Recreational Products Inc.)

Notice of Sole Control. If at any time the Administrative Collateral Agent delivers to the Securities Intermediary a notice of sole control in substantially the form set forth in Exhibit A attached hereto (the “Notice of Sole Control”) with respect to any Designated Account, the Securities Intermediary agrees that, after receipt of such notice, it will take all instructions with respect to such Designated Account solely from the Administrative Collateral Agent. Permitting settlement of trades pending at the time of receipt of such notice shall not constitute a violation of the immediately preceding sentence. Without limiting the generality of the first sentence of this paragraph, upon receipt of a Notice of Sole Control, the Securities Intermediary shall (x) no longer permit any trading with respect to the applicable Investment Collateral to be initiated by the Company or any representative of, or investment manager appointed by, the Company and the Securities Intermediary shall follow all instructions given by an authorized officer of the Administrative Collateral Agent, including without limitation instructions for distribution or transfer of any Investment Collateral or other Investment Property in any Designated Account to be made to the Administrative Collateral Agent and (y) follow all instructions given by an authorized officer of the Administrative Collateral Agent, including, without limitation, instructions for distribution or transfer of any funds in any Designated Account to be made to the Administrative Collateral Agent.

Appears in 2 contracts

Samples: Credit Agreement (General Cable Corp /De/), Credit Agreement (General Cable Corp /De/)

Notice of Sole Control. If at any time the Administrative Agent delivers to the Securities Intermediary a notice of sole control in substantially the form set forth in Exhibit A attached hereto (the "Notice of Sole Control") with respect to any Designated Account, the Securities Intermediary agrees that, after receipt of such noticethe Notice of Sole Control, it will take all instructions with respect to such Designated Account solely from the Administrative Agent. Permitting settlement of trades pending at the time of receipt of such notice Notice of Sole Control shall not constitute a violation of the immediately preceding sentence. Without limiting the generality of the first sentence of this paragraph, upon receipt of a Notice of Sole Control, the Securities Intermediary shall (x) no longer permit any trading with respect to the applicable Investment Collateral to be initiated by the Company Pledgor or any representative of, or investment manager appointed by, the Company Pledgor and the Securities Intermediary shall follow all instructions given by an authorized officer of the Administrative Agent, including without limitation instructions for distribution or transfer of any Investment Collateral or other Investment Property in any Designated Account to be made to the Administrative Agent and (y) follow all instructions given by an authorized officer of the Administrative Agent, including, without limitation, instructions for distribution or transfer of any funds in any Designated Account to be made to the Administrative Agent.

Appears in 1 contract

Samples: Canadian Security Agreement (Bombardier Recreational Products Inc.)

Notice of Sole Control. If at any time the Administrative Agent delivers to the Securities Intermediary a notice of sole control in substantially the form set forth in Exhibit A attached hereto (the “Notice of Sole Control”) with respect to any Designated Account, the Securities Intermediary agrees that, after receipt of such noticethe Notice of Sole Control, it will take all instructions with respect to such Designated Account solely from the Administrative Agent. Permitting settlement of trades pending at the time of receipt of such notice Notice of Sole Control shall not constitute a violation of the immediately preceding sentence. Without limiting the generality of the first sentence of this paragraph, upon receipt of a Notice of Sole Control, the Securities Intermediary shall (x) no longer permit any trading with respect to the applicable Investment Collateral to be initiated by the Company Pledgor or any representative of, or investment manager appointed by, the Company Pledgor and the Securities Intermediary shall follow all instructions given by an authorized officer of the Administrative Agent, including without limitation instructions for distribution or transfer of any Investment Collateral or other Investment Property in any Designated Account to be made to the Administrative Agent and (y) follow all instructions given by an authorized officer of the Administrative Agent, including, without limitation, instructions for distribution or transfer of any funds in any Designated Account to be made to the Administrative Agent.

Appears in 1 contract

Samples: Control Agreement (BRP (Luxembourg) 4 S.a.r.l.)

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Notice of Sole Control. If at any time the Administrative Agent Trustee delivers to the Securities Intermediary a notice of sole control control, signed by an Authorized Trustee Representative, in substantially the form set forth in Exhibit A attached hereto (the “Notice of Sole Control”) with respect to any the Designated Account, the Securities Intermediary agrees that, after receipt of such notice, it will take all instructions with respect to such the Designated Account solely from the Administrative AgentTrustee (without consent from the Pledgor Parties). Permitting settlement of trades pending at the time of receipt of such notice shall not constitute a violation of the immediately preceding sentence. Without limiting the generality of the first sentence of this paragraph, upon receipt of a Notice of Sole Control, the Securities Intermediary shall (x) no longer permit any trading with respect to the applicable Investment Article 8 Collateral to be initiated by the Company Pledgor Parties or any representative of, or investment manager appointed by, the Company Pledgor Parties and the Securities Intermediary shall follow all instructions given by an authorized officer of the Administrative AgentAuthorized Trustee Representative, including without limitation instructions for distribution or transfer of any Investment Article 8 Collateral or other Investment Property in any the Designated Account to be made to the Administrative Agent Trustee and (y) follow all instructions given by an authorized officer of the Administrative AgentAuthorized Trustee Representative, including, without limitation, instructions for distribution or transfer of any funds in any the Designated Account to be made to the Administrative AgentTrustee.

Appears in 1 contract

Samples: Security Agreement (Velocity Express Corp)

Notice of Sole Control. If at any time the Administrative Agent Trustee delivers to the Securities Intermediary a notice of sole control substantially in substantially the form set forth in Exhibit A attached hereto (the "Notice of Sole Control") with respect to any the Designated Account, the Securities Intermediary agrees that, after receipt of such notice, it will take all instructions with respect to such the Designated Account solely from the Administrative AgentTrustee. Permitting settlement of trades pending at the time of receipt of such notice shall not constitute a violation of the immediately preceding sentence. Without limiting the generality of the first sentence of this paragraph, upon receipt of a Notice of Sole Control, the Securities Intermediary shall (x) no longer permit any trading with respect to the applicable Investment Collateral Escrowed Property to be initiated by the Company Pledgor or any representative of, or investment manager appointed by, the Company Pledgor and the Securities Intermediary shall follow all instructions given by an authorized officer any of the Administrative AgentAuthorized Representatives, including without limitation instructions for distribution or transfer of any Investment Collateral Escrowed Property or other Investment Property Collateral in any the Designated Account to be made to the Administrative Agent Trustee and (y) follow all instructions given by an authorized officer any of the Administrative AgentAuthorized Representatives, including, including without limitation, limitation instructions for distribution or transfer of any funds in any the Designated Account to be made to the Administrative AgentTrustee.

Appears in 1 contract

Samples: Assumption Agreement (Crum & Forster Holdings Corp)

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