Account Control / Blocked Account Agreements. Each Obligor shall:
(i) in the case of its primary operating bank account(s) maintained within Canada or the United States, obtain blocked account agreements or account control agreements, as applicable, from each financial institution (other than NBC) which maintains such account(s) (A) initially, within 90 days following the Restatement Date and (B) with respect to any such new primary operating bank account opened after the Restatement Date, within 30 days of such Obligor depositing (or causing the deposit of) any funds into such account;
(ii) in the case of its primary operating bank account(s) (if any) maintained outside of Canada or the United States, use commercially reasonable efforts to obtain blocked account agreements or account control agreements, as applicable, from each financial institution (other than NBC) which maintains such account(s) (A) initially, within 90 days following the Restatement Date and (B) with respect to any such new primary operating bank account opened after the Restatement Date, within 30 days of such Obligor depositing (or causing the deposit of) any of funds into such account; and
(iii) ensure that the revenue from its Material Agreements is, in the Ordinary Course, deposited to its primary operating account(s) in respect of which such Obligor has complied with Section 8.2(i)(i) or (ii) above, as applicable.
Account Control / Blocked Account Agreements. (i) Each Obligor shall, in the case of its primary operating bank account(s) maintained within Canada or the United States, if applicable, obtain blocked account agreements or account control agreements, as applicable, from each financial institution (other than BMO or another Lender) which maintains such account(s) with a balance for more than three (3) Business Days of more than $25,000. Such requirement will not apply to any operating bank where the aggregate deposited funds in such account is less than $25,000.
(ii) Notwithstanding the provisions of section 8.2(h)(i), an operating, deposit or investment accounts of an Obligor may be maintained with Canaccord Genuity Wealth Management (the “Canaccord Account”) and no such blocked account agreements or account control agreements shall be required for the Canaccord Account, provided that all such Canaccord Account shall be closed within 90 days from the Closing Date, and the Borrower shall (and shall procure that each Obligor shall) thereupon immidately transfer the Canaccord Account to a Lender at such time.
