Common use of Accounts Control Agreement Clause in Contracts

Accounts Control Agreement. The Assignor represents that it has entered into an accounts control agreement which provides, inter alia, that the Earnings Account shall be under the control of the Assignee, and that the Assignor shall have the right to withdraw and otherwise direct the disposition of funds in the Earnings Account until such time as the Assignee shall have issued a notice to the Account Bank of its exclusive right to direct withdrawals from the Earnings Account and to exercise all rights with respect to all of the funds in the Earnings Account after the occurrence and during the continuance of an Event of Default.

Accounts Control Agreement. The Assignor represents that it has entered into an accounts control agreement which provides, inter alia, that the Earnings Operating Account shall be under the control of the Assignee, and that the Assignor shall have the right to withdraw and otherwise direct the disposition of funds in the Earnings Operating Account until such time as the Assignee shall have issued a notice to the Account Bank of its exclusive right to direct withdrawals from the Earnings Operating Account and to exercise all rights with respect to all of the funds in the Earnings Operating Account after the occurrence and during the continuance of an Event of Default.

Accounts Control Agreement. The Assignor represents that it has entered into an accounts control agreement which provides, inter alia, that the Earnings Debt Service Reserve Account shall be under the control of the Assignee, and that the Assignor Assignee who shall have the right to withdraw and or otherwise direct the disposition of funds in the Earnings Account until such time as Debt Service Reserve Account, and that the Assignee Assignor shall not have issued a notice to the Account Bank of its exclusive right to withdraw or otherwise direct withdrawals from the Earnings Account and to exercise all rights with respect to all disposition of the funds in the Earnings Account after the occurrence and during the continuance of an Event of DefaultDebt Service Reserve Account.