Transfers of Collateral between Accounts Sample Clauses

Transfers of Collateral between Accounts. Customer agrees that the BNPP Entities, at any time, at any BNPP Entity’s discretion and without prior notice to Customer, may use, apply, or transfer any and all Collateral interchangeably between the BNPP Entities in any accounts in which Customer has an interest. With respect to Collateral pledged principally to secure Obligations under any Contract, the BNPP Entities shall have the right, but in no event the obligation, to apply all or any portion of such Collateral to Customer’s Obligations to any of the BNPP Entities under any other Contract, to transfer all or any portion of such Collateral to secure Customer’s Obligations to any of the BNPP Entities under any other Contract or to release any such Collateral. Under no circumstances shall any Collateral pledged principally to secure Obligations to any of the BNPP Entities under any Contract be required to be applied or transferred to secure Obligations to any of the other BNPP Entities or to be released if (i) any BNPP Entity determines that such transfer would render it undersecured with respect to any Obligations, (ii) an event of default has occurred with respect to Customer under any Contract or Obligation or (iii) any such application, transfer or release would be contrary to Applicable Law.
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Transfers of Collateral between Accounts. Customer agrees that the BNPP Entities, at any time, at any BNPP Entity’s discretion and subject to using commercially reasonable efforts to provide prior notice to Customer, may use, apply, or transfer any and all Collateral interchangeably between the BNPP Entities in any accounts in which Customer has an interest. With respect to Collateral pledged principally to secure Obligations under any Contract, the BNPP Entities shall have the right, but in no event the obligation, to apply all or any portion of such Collateral to Customer’s Obligations to any of the BNPP Entities under any other Contract, to transfer all or any portion of such Collateral to secure Customer’s Obligations to any of the BNPP Entities under any other Contract or to release any such Collateral. Under no circumstances shall any Collateral pledged principally to secure Obligations to any of the BNPP Entities under any Contract be required to be applied or transferred to secure Obligations to any of the other BNPP Entities or to be released if (i) any BNPP Entity determines that such transfer would render it undersecured with respect to any Obligations, (ii) an event of default has occurred with respect to Customer under any Contract or Obligation or (iii) any such application, transfer or release would be contrary to Applicable Law. The BNPP Entities shall not transfer Collateral from any account in which Customer has an interest to satisfy a deficit in another such account, unless the first account has an excess of Collateral and such transfer would not cause a deficit in the first account.
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Transfers of Collateral between Accounts. Customer agrees that the BofA Entities, at any time, at any BofA Entity’s discretion and without prior notice to Customer, may use, apply, or transfer any and all Collateral interchangeably between BofA Entities in any accounts in which Customer has an interest. With respect to Collateral pledged principally to secure Obligations under any Contract with any BofA Entity, the BofA Entities shall have the right, but in no event the obligation, to apply all or any portion of such Collataral to Customer’s Obligations to any of the BofA Entities under any other Contract, to transfer all or any portion of such Collateral to secure Customer’s Obligations to any of the BofA Entities under any other Contract or to release any such Collateral. Under no circumstances shall any Collateral pledged principally to secure Obligations to any of the BofA Entities under any Contract with any BofA Entity be required to be applied or transferred to secure Obligations to any of the BofA Entities or to be released if (i) any BofA Entity determines that such transfer would render it undersecured with respect to any Obligations, (ii) an event of default has occurred under such Contract or (iii) any such application, transfer or release would be contrary to Applicable Law.
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Transfers of Collateral between Accounts. Customer agrees that Cowen, at any time, at Xxxxx’x discretion and without prior notice to Customer, may transfer any and all Collateral from Customer’s Account with Cowen to any other account Customer maintains with Cowen and may transfer such Collateral to other Cowen Entities, in each case, solely to the extent necessary to satisfy any margin requirement or other Obligation of Customer to such Cowen Entity. With respect to Collateral pledged principally to secure Obligations under any Contract, the Cowen Entities shall have the right, but in no event the obligation, to apply all or any portion of such Collateral to Customer’s Obligations to the Cowen Entities under any other Contract; to transfer all or any portion of such Collateral to secure Customer’s Obligations to Cowen Entities under any other Contract to the extent necessary to satisfy a margin requirement for those entities; or to release any such Collateral. Under no circumstances shall any Collateral pledged principally to secure Obligations to Cowen Entities under any Contract be required to be applied or transferred to secure Obligations or to be released if (i) such Cowen Entity determines that such transfer would render it under-secured with respect to any Obligations, (ii) an event of default has occurred with respect to Customer under any Contract or Obligation or (iii) any such application, transfer or release would be contrary to Applicable Law.
Sample 1

Related to Transfers of Collateral between Accounts

  • Establishment of Collateral Accounts The Custodian hereby confirms and agrees that:

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that:

  • Compromises and Collection of Collateral The Grantors and the Administrative Agent recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Administrative Agent may at any time and from time to time, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Administrative Agent in its sole discretion shall determine or abandon any Receivable, and any such action by the Administrative Agent shall be commercially reasonable so long as the Administrative Agent acts in good faith based on information known to it at the time it takes any such action.

  • Control of Collateral Accounts To establish “control” of the Collateral Accounts by the Secured Party under Sections 9-104 and 9-106 of the UCC, the Financial Institution agrees to comply with any order or instruction from the Secured Party directing the deposit, withdrawal, transfer or redemption of the cash or other financial assets credited to a Collateral Account (a “Secured Party Order”) without the need for consent by the Grantor or any other Person.

  • Valuation of Collateral Securities Intermediary shall provide view only access to its systems to Secured Party for the purpose of communicating data as to the Reserve Account as of that date.

  • DISPOSITION OF COLLATERAL AND PROCEEDS; TRANSFER OF INDEBTEDNESS In disposing of Collateral hereunder, Bank may disclaim all warranties of title, possession, quiet enjoyment and the like. Any proceeds of any disposition of any Collateral or Proceeds, or any part thereof, may be applied by Bank to the payment of expenses incurred by Bank in connection with the foregoing, including reasonable attorneys’ fees, and the balance of such proceeds may be applied by Bank toward the payment of the Indebtedness in such order of application as Bank may from time to time elect. Upon the transfer of all or any part of the Indebtedness, Bank may transfer all or any part of the Collateral or Proceeds and shall be fully discharged thereafter from all liability and responsibility with respect to any of the foregoing so transferred, and the transferee shall be vested with all rights and powers of Bank hereunder with respect to any of the foregoing so transferred; but with respect to any Collateral or Proceeds not so transferred, Bank shall retain all rights, powers, privileges and remedies herein given.

  • Location of Collateral All tangible items of Collateral, other than Inventory in transit, shall at all times be kept by Borrowers at the business locations set forth in Schedule 8.6.1, except that Borrowers may (a) make sales or other dispositions of Collateral in accordance with Section 10.2.6; and (b) move Collateral to another location in the United States, upon 30 Business Days prior written notice to Agent.

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