Common use of Priority of Secured Party’s Security Interest Clause in Contracts

Priority of Secured Party’s Security Interest. (a) The Depository Bank (i) subordinates in favor of the Secured Party any security interest, lien, or right of recoupment or setoff or other claim that the Depository Bank may have, now or in the future, against the Account or any funds credited to the Account, and (ii) agrees that it will not exercise any right in respect of any such security interest or lien or any such right of recoupment or setoff or other claim until the Security Interest is terminated, except that the Depository Bank (A) will retain its prior security interest and lien on funds credited to the Account, (B) may exercise any right in respect of such security interest or lien, and (C) may exercise any right of recoupment or setoff against the Account, in the case of clauses (A), (B) and (C) above, to secure or to satisfy, and only to secure or to satisfy, payment of (y) its customary fees and expenses for the routine maintenance and operation of the Account, and (z) the face amount of any items that have been credited to the Account but are subsequently returned unpaid because of uncollected or insufficient funds.

Priority of Secured Party’s Security Interest. (a) The Depository Account Bank (i) subordinates to the Security Interest and in favor of the Secured Party any security interest, lien, or right of recoupment or setoff or other claim that the Depository Account Bank may have, now or in the future, against the any Account or any funds credited to the any Account, and (ii) agrees that it will not exercise any right in respect of any such security interest Security Interest or lien or any such right of recoupment or setoff or other claim until the Security Interest is terminated, except that the Depository Account Bank (A) will retain its prior security interest Security Interest and lien on funds credited to the any Account, (B) may exercise any right in respect of such security interest Security Interest or lien, and (C) may exercise any right of recoupment or setoff against the any Account, in the case of clauses Clauses (A), (B) and (C) above, to secure or to satisfy, and only to secure or to satisfy, satisfy payment of (yx) for its customary fees and expenses for the routine maintenance and operation of the Account, such Account and (zy) for the face amount of any items that have been credited to the such Account but are subsequently returned unpaid because of uncollected or insufficient funds.

Priority of Secured Party’s Security Interest. (a) The Depository Account Bank (i) subordinates to the Security Interest and in favor of the Secured Party any security interest, lien, lien or right of recoupment or setoff or other claim that the Depository Account Bank may have, now or in the future, against the any Account or any funds and financial assets credited to the Account, any Account and (ii) agrees that it will not exercise any right in respect of any such security interest or lien or any such right of recoupment or setoff or other claim until the Security Interest is terminated, except that the Depository Account Bank (A) will retain its prior security interest and lien on funds and financial assets credited to the any Account, (B) may exercise any right in respect of such security interest or lien, Cheniere LNG Holdings, LLC Control Agreement and (C) may exercise any right of recoupment or setoff against the any Account, in the case of clauses (A), (B) and (C) above, to secure or to satisfysatisfy payment (x) of the purchase price for financial assets credited to such Account, and only to secure or to satisfy, payment of (y) for its customary fees and expenses for the routine maintenance and operation of the Account, such Account and (z) for the face amount of any items that have been credited to the such Account but are subsequently returned unpaid because of uncollected or insufficient funds.