Account Control Agreements; Bank Accounts. Open, maintain or otherwise have any bank account, other than (a) deposit accounts with CIT Bank, N.A., (b) deposit accounts consented to by the Administrative Agent that are subject to a Deposit Account Control Agreement, and (c) Excluded Accounts.
Account Control Agreements; Bank Accounts. At any time after the sixty (60) day period following the Closing Date, open, maintain or otherwise have any bank account, other than (a) deposit accounts that are subject to a Deposit Account Control Agreement, Deposit Account Restriction Agreement or Blocked Account Agreement, as applicable, and (b) Excluded Accounts.
Account Control Agreements; Bank Accounts. (a) Within sixty (60) days after the First Amendment Effective Date (or such extended period of time as agreed to by the Administrative Agent), the Administrative Agent shall have received evidence satisfactory to the Administrative Agent that the cash concentration account and the money market account of Horizon Lines, LLC held at JPMorgan Chase Bank, N.A. are subject to a Deposit Account Control Agreement and a Securities Account Control Agreement, respectively, or have been closed (with the funds and financial assets contained in such accounts having been transferred to a deposit account that is subject to a Deposit Account Control Agreement or a securities account that is subject to a Securities Account Control Agreement).
Account Control Agreements; Bank Accounts. Upon the Discharge of First Lien Credit Obligations, each of the Credit Parties will not, nor will it permit any Subsidiary to, open, maintain or otherwise have any checking, savings or other accounts (including securities accounts) at any bank or other financial institution, or any other account where cash or Cash Equivalents is or may be deposited or maintained with any Person, other than (i) deposit accounts that are subject to a Deposit Account Control Agreement, (ii) securities accounts that are subject to a Securities Account Control Agreement, (iii) deposit accounts established solely as payroll, zero balance, imprest, withholding tax or other fiduciary accounts and (iv) other deposit accounts, so long as (A) the balance of each such account is transferred to a deposit account that is subject to a Deposit Account Control Agreement not less than once during every ten (10) business days and (B) the balance in any such account does not exceed $4,000,000 at any time and the balance in all such accounts does not exceed $10,000,000 at any time.
