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Account control agreement: Difference between revisions
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|[[File:Triparty Diagram.png|center|450px]]}}Also known as a [[tri-party collateral arrangement]]; an arrangement wherein a debtor [[pledge]]s collateral to a [[custodian]] to hold it for that [[pledgor]], but subject to a security in favour of a [[pledgee]]. The agreement generally provides that neither party may instruct the custodian to do anything with the asset without the other's consent, except in the direst of circumstances. | |[[File:Triparty Diagram.png|center|450px]]}}Also known as a [[tri-party collateral arrangement]]; an arrangement wherein a debtor [[pledge]]s collateral to a [[custodian]] to hold it for that [[pledgor]], but subject to a security in favour of a [[pledgee]]. The agreement generally provides that neither party may instruct the custodian to do anything with the asset without the other's consent, except in the direst of circumstances. | ||
===[[ | ==[[Indemnity]] corner== | ||
{{joint and several indemnity}} | ===[[Joint and several]] [[indemnity]]=== | ||
{{joint and several indemnity capsule}} | |||
===Indemnity before action=== | ===Indemnity before action=== | ||
Even in those dark days the custodian will be reluctant to do anything and may ask for an {{tag|indemnity}}. Why would you indemnify the [[Custodian]] for actions it takes under an [[account control agreement]]? | Even in those dark days the custodian will be reluctant to do anything and may ask for an {{tag|indemnity}}. Why would you indemnify the [[Custodian]] for actions it takes under an [[account control agreement]]? | ||