Control Accounts; Approved Deposit Accounts. Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.
Control Accounts; Approved Deposit Accounts. (c) Investments in payment intangibles, chattel paper (each as defined in the UCC) and Accounts, notes receivable and similar items arising or acquired in the ordinary course of business consistent with the past practice of the Borrower and its Subsidiaries;
Control Accounts; Approved Deposit Accounts. (a) The Company shall, and shall cause each of the Subsidiary Guarantors to, except cash or Cash Equivalents subject to a Lien permitted under Section 11.3(c), (d), (f), (p), (s) (solely to the extent prohibited by the terms of the Indebtedness secured thereby), (cc) or (dd), (i) deposit in an Approved Deposit Account all cash and all Proceeds of any Account or General Intangible they receive from any other Person, (ii) not maintain any funds or other assets in any Securities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than with a Deposit Account Bank; provided, however, that the Company and each of its Subsidiaries may deposit cash into and maintain (A) payroll, benefits, withholding tax, escrow, customs and other fiduciary accounts and (B) other accounts as long as the aggregate balance in all such other accounts does not exceed $5,000,000 at any time.
Control Accounts; Approved Deposit Accounts. From and after the date that is sixty (60) days after the Closing Date or such later date as the Administrative Agent may agree in its sole discretion (except in the case of clause (e) below):
Control Accounts; Approved Deposit Accounts. (a) Such Grantor shall (i) deposit in an Approved Deposit Account all cash received by such Grantor, (ii) not establish or maintain any Securities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than with a Deposit Account Bank, a Lender or an Affiliate of a Lender; provided, however, that any Grantor may (i) maintain payroll, withholding tax and other fiduciary accounts and (ii) maintain other accounts so long as the aggregate balance in all such accounts does not exceed $5,000,000.
Control Accounts; Approved Deposit Accounts. (a) The U.S. Borrower and each Loan Party that is a Domestic Subsidiary of the U.S. Borrower shall use commercially reasonable efforts to enter into Control Agreements with respect to each of its Deposit Accounts, Securities Accounts and Commodities Accounts unless such account is an Excluded Account. For purposes of this Section 5.15 “
Control Accounts; Approved Deposit Accounts. (a) Within 90 days following the Effective Date (plus in the event any depositary institution refuses to execute a Deposit Account Control Agreement or a Securities Account Control Agreement (other than a European Pledge on Bank Accounts), as applicable, then the Borrowers and the Subsidiary Guarantors shall have an additional 120 days to move such deposit account and/or such securities account) (or, in each case, such longer period as may be agreed to by the Administrative Agent in its discretion), the Borrowers shall and shall cause each of the Subsidiary Guarantors to, (i) deposit in an Approved Deposit Account all cash received by them, (ii) not establish or maintain any Securities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than with a Deposit Account Bank; provided, however, that the Borrowers and the Subsidiary Guarantors may (i) establish and maintain payroll, trust, tax and other fiduciary accounts so long as the amounts in such accounts are for the payment of payroll, taxes or in respect of trust and other fiduciary obligations in the ordinary course of business or otherwise required by a Requirement of Law, (ii) establish and maintain other accounts as long as the balance in each account does not exceed $1.0 million and the aggregate balance in all such accounts does not exceed $10.0 million and (iii) establish and maintain other accounts as long as any deposits therein or transfers thereto are of proceeds from Fixed Asset Collateral (including insurance, condemnation and casualty proceeds constituting Fixed Asset Collateral) or proceeds of the loans made pursuant to the Term Loan Facility, in each case without complying with the provisions of this clause (a).
Control Accounts; Approved Deposit Accounts. (a) The Borrower shall, and shall cause each of their respective Subsidiaries, with the exception of any Excluded Foreign Subsidiary, to (i) deposit in an Approved Deposit Account all cash they receive, (ii) not establish or maintain any Securities Account that is not a Control Account (other than any Securities Accounts maintained as a surety for insurance obligations as long as the aggregate balance in all such Securities Accounts does not at any time exceed $5,000,000) and (iii) not establish or maintain any Deposit Account other than with a Deposit Account Bank; provided, however, that the Borrower and each of its Subsidiaries shall be permitted to maintain and deposit cash into (x) payroll, withholding tax and other fiduciary accounts as long as the aggregate balance in all such accounts does not at any time exceed $5,000,000 and (y) additional Deposit Accounts as long as the aggregate balance in any such Deposit Account does not at any time exceed $1,000,000 and the aggregate balance in all such Deposit Accounts does not at any time exceed $2,000,000. Notwithstanding the foregoing, if any Deposit Accounts are acquired in connection with a Permitted Acquisition, the Borrower shall have 120 days after the closing of such Permitted Acquisition to comply with the requirements of this clause (a) with respect to such Deposit Accounts.
Control Accounts; Approved Deposit Accounts. (a) The Borrower shall, and shall cause each of their respective Subsidiaries, with the exception of any Excluded Foreign Subsidiary, to (i) deposit in an Approved Deposit Account all cash they receive, (ii) not establish or maintain any Securities Account that is not a Control Account (other than any Securities Accounts maintained as a surety for insurance obligations as long as the aggregate balance in all such Securities Accounts does not at any time exceed $2,750,000) and (iii) not establish or maintain any Deposit Account other than with a Deposit Account Bank; provided, however, that (i) the Borrower and each of its Subsidiaries shall be permitted to maintain payroll, withholding tax and other fiduciary accounts as long as the aggregate balance in all such accounts), does not at any time exceed $2,500,000 and (ii) the provisions of this Section 7.13 shall not apply to deposits or accounts subject to a Deposit Account Control Agreement subject to Section 7.17 (Post-Closing Obligations).
Control Accounts; Approved Deposit Accounts. (a) The Company shall, and shall cause each of the Subsidiary Guarantors to, except cash or Cash Equivalents subject to a Lien permitted under Section 11.3(c), (d), (p) or (q), (i) deposit in an Approved Deposit Account all cash and all Proceeds of any Account or General Intangible they receive from any other Person, (ii) not maintain any funds or other assets in any Securities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than with a Deposit Account Bank; provided, however, that the Company and each of its Subsidiaries may deposit cash into and maintain (A) payroll, benefits, withholding tax, escrow, customs and other fiduciary accounts and (B) other accounts as long as the aggregate balance in all such other accounts does not exceed $5,000,000 at any time.
