Common use of Access to Restricted Account Clause in Contracts

Access to Restricted Account. Secured Party agrees that Company will be allowed access to the Account Funds until Bank receives written instructions from Secured Party directing that Company no longer have access to any Account Funds (the “Instructions”). Company agrees that the Account Funds should be paid to Secured Party after Bank receives the Instructions, and hereby irrevocably authorizes Bank to comply with the Instructions even if Company objects in any way to the Instructions. Company further agrees that after Bank receives the Instructions, Company will not have access to any Account Funds.

Appears in 6 contracts

Samples: Subordination Agreement, Secured Promissory Note (Fluidigm Corp), Loan and Security Agreement (Fluidigm Corp)

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Access to Restricted Account. Secured Party agrees that Company will be allowed access to the Account Funds until Bank receives written instructions from Secured Party directing that Company no longer have access to any Account Funds (the "Instructions"). Company agrees that the Account Funds should be paid to Secured Party after Bank receives the Instructions, and hereby irrevocably authorizes Bank to comply with the Instructions even if Company objects in any way to the Instructions. Company further agrees that after Bank receives the Instructions, Company will not have access to any Account Funds.

Appears in 2 contracts

Samples: Restricted Account Agreement (MRS Fields Financing Co Inc), Restricted Account Agreement (MRS Fields Financing Co Inc)

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Access to Restricted Account. Secured Party agrees that Company will be allowed access to the Account Funds until Bank receives receives, and has had a reasonable opportunity to act upon, written instructions from Secured Party directing that Company no longer have access to any Account Funds (the “Instructions”). Company agrees that the Account Funds should be paid to Secured Party after Bank receives the Instructions, and hereby irrevocably authorizes Bank to comply with the Instructions even if Company objects in any way to the Instructions. Company further agrees that after Bank receives the Instructions, Company will not have access to any Account Funds.

Appears in 1 contract

Samples: Restricted Account Agreement (GeoMet, Inc.)

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