Approved Securities Intermediary definition

Approved Securities Intermediary means a Securities Intermediary or Commodity Intermediary selected or approved by the Administrative Agent and with respect to which a Grantor has delivered to the Administrative Agent an executed Control Account Agreement.

Approved Securities Intermediary means a “securities intermediary” or “commodity intermediary” (as such terms are defined in the UCC) selected or approved by the Administrative Agent.

Approved Securities Intermediary a Securities Intermediary or Commodity Intermediary selected by a Loan Party and reasonably satisfactory to the Administrative Agent.

Examples of Approved Securities Intermediary in a sentence

• Grantor will (i) deposit in a Controlled Deposit Account all cash received by such Grantor, and (ii) not establish or maintain any Deposit Account or Securities Account other than with a Deposit Account Bank or Approved Securities Intermediary, as applicable, or the Secured Party or an Affiliate of the Secured Party.

• Upon expiration of such 30-day period, the Approved Securities Intermediary shall be under no further obligation except to hold the Assets in accordance with the terms of this Control Account Letter, pending receipt of written instructions from the Pledgor and the Collateral Agent, jointly, regarding the further disposition of the pledged Assets.

• This Control Account Letter may not be altered or amended in any manner without the express written consent of the Pledgor, the Collateral Agent and the Approved Securities Intermediary.

• The Approved Securities Intermediary agrees to promptly make and thereafter maintain all necessary entries or notations in its books and records to reflect the Collateral Agent’s security interest in the Assets.

• The Approved Securities Intermediary acknowledges that this Control Account Letter constitutes written notification to the Approved Securities Intermediary, pursuant to the Uniform Commercial Code and any applicable federal regulations for the Federal Reserve Book Entry System, of the Collateral Agent’s security interest in the Assets.

More Definitions of Approved Securities Intermediary

Approved Securities Intermediary means a Securities Intermediary or Commodity Intermediary selected or approved by the Administrative Agent.

Approved Securities Intermediary means a securities intermediary at which any Obligor maintains an Approved Securities Account.

Approved Securities Intermediary means a Securities Intermediary or Commodity Intermediary selected or approved by the Administrative Agent and with respect to which a Borrower has delivered to the Administrative Agent an executed Control Account Letter.

Approved Securities Intermediary means a securities intermediary at which the Borrower or a Guarantor maintains an Approved Securities Account.

Approved Securities Intermediary means a securities intermediary at which any Loan Party maintains an Approved Securities Account.

Approved Securities Intermediary means a Securities Intermediary reasonably acceptable to the Agent.

Approved Securities Intermediary means a Securities Intermediary or Commodity Intermediary acceptable to Lender and with respect to which a Loan Party has delivered to Lender an executed Control Account Agreement.