Accounts; Lockbox Sample Clauses

Accounts; Lockbox. (a) (i) Maintain all primary deposit accounts and securities accounts of the Borrower and the Guarantors with the Agent and (ii) maintain all other deposit accounts and securities accounts of the Borrower and the Guarantors with the Agent, a Lender or an Other Domestic Financial Institution, provided that, with respect to any such accounts maintained with any Lender (other than the Agent) or any Other Domestic Financial Institution, (x) such Borrower or Guarantor shall cause to be executed and delivered an Account Control Agreement in form and substance satisfactory to the Agent, (y) such Borrower or Guarantor has taken all other steps necessary, or in the opinion of the Agent, desirable to ensure that the Agent has a perfected security interest in such account and (z) the aggregate amount of Cash held in accounts maintained by the Borrower and the Guarantors with any Other Domestic Financial Institution shall not exceed fifteen percent (15%) of the total Cash held in all accounts of the Credit Parties subject to clause (ii) of this Section 7.14. (b) Maintain a lockbox arrangement at all times with the Agent in form and substance acceptable to the Agent in its sole discretion for the collection of Accounts and other sums payable to the Borrower and any Guarantor.
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Accounts; Lockbox. (i) Maintain all primary deposit accounts and securities accounts of the Borrower and the Guarantors with the Agent and (ii) maintain all other deposit accounts and securities accounts of the Borrower and the Guarantors with the Agent, a Lender or an Other Domestic Financial Institution, provided that, with respect to any such accounts (other than (A) accounts used solely for payroll, payroll taxes or employee wage and benefit payments, (B) zero balance accounts and (C) cash collateral accounts subject to a Lien permitted by Section 8.2(h) of this Agreement) maintained with any Lender (other than the Agent) or any Other Domestic Financial Institution, (x) such Borrower or Guarantor shall cause to be executed and delivered an Account Control Agreement in form and substance satisfactory to the Agent, and (y) such Borrower or Guarantor has taken all other steps necessary, or in the opinion of the Agent, desirable to ensure that the Agent has a perfected security interest in such account. Notwithstanding the foregoing, (1) Borrower shall be permitted to maintain the accounts with account numbers ending in -1932, -7625 and -1315 at HSBC or an HSBC Affiliate, and shall not be required to comply with clauses (x) and (y) of this Section 7.14(a)(i) with respect to such accounts and (2) Borrower and Guarantors shall be permitted to maintain other deposit accounts or securities accounts at a financial institution chartered outside of the United States, provided that the Borrower or applicable Guarantor shall be required to comply with clauses (x) and (y) of this Section 7.14(a)(i) if so requested by the Agent (the accounts in the foregoing clauses (1) and (2), collectively, the “Permitted Foreign Accounts”); provided that, unless the Borrower shall have caused to be executed and delivered an Account Control Agreement in form and substance satisfactory to the Agent and taken all other steps necessary, or in the opinion of the Agent, desirable to ensure that the Agent has a perfected security interest in such Permitted Foreign Account, no Cash in any Permitted Foreign Account shall be included in the calculation of the financial covenants in Sections 7.9(b) and (c) of this Agreement. (b) Maintain a lockbox arrangement at all times with the Agent in form and substance acceptable to the Agent in its sole discretion for the collection of Accounts and other sums payable to the Borrower and any Guarantor (the “Lockbox”), and enter into any related treasury management docume...
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Accounts; Lockbox. (a) (i) Maintain all primary deposit accounts and securities accounts of the Borrower and the Guarantors with the Agent and (ii) maintain all other deposit accounts and securities accounts of the Borrower and the Guarantors with the Agent, a Lender or an Other Domestic Financial Institution, provided that, with respect to any such accounts (other than (A) accounts used solely for payroll, payroll taxes or employee wage and benefit payments, (B) zero balance accounts and (C) cash collateral accounts subject to a Lien permitted by Section 8.2(h) of this Agreement) maintained with any Lender (other than the Agent) or any Other Domestic Financial Institution, (x) such Borrower or Guarantor shall cause to be executed and delivered an Account Control Agreement in form and substance satisfactory to the Agent, and (y) such Borrower or Guarantor has taken all other steps necessary, or in the opinion of the Agent, desirable to ensure that the Agent has a perfected security interest in such account. (b) Maintain a lockbox arrangement at all times with the Agent in form and substance acceptable to the Agent in its sole discretion for the collection of Accounts and other sums payable to the Borrower and any Guarantor.
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Related to Accounts; Lockbox

  • Deposit Accounts; Credit Card Arrangements (a) Annexed hereto as Schedule 5.21(a) is a list of all DDAs maintained by the Loan Parties as of the Closing Date, which Schedule includes, with respect to each DDA (i) the name and address of the depository; (ii) the account number(s) maintained with such depository; (iii) a contact person at such depository, and (iv) the identification of each Blocked Account Bank. (b) Annexed hereto as Schedule 5.21(b) is a list describing all arrangements as of the Closing Date to which any Loan Party is a party with respect to the processing and/or payment to such Loan Party of the proceeds of any credit card charges and debit card charges for sales made by such Loan Party.

  • Lockbox Accounts Each Loan Party shall instruct all Account Debtors of such Loan Party to remit all payments to the applicable “P.O. Boxes” or “Lockbox Addresses” of the Administrative Agent and certain financial institutions selected by the Borrower and reasonably acceptable to the Administrative Agent (each, a “Collection Bank”) with respect to all Accounts of such Account Debtor, which remittances shall be collected by the applicable Collection Bank and deposited in the applicable Lockbox Account (each of which shall be under the “control” (as defined in Section 9-104 of the UCC) of the Administrative Agent). All amounts received by any Loan Party and any Collection Bank in respect of any Account shall upon receipt be deposited into a Lockbox Account or directly into the Core Concentration Account. Each Loan Party shall, along with the Administrative Agent and each of the Collection Banks that maintain one or more Lockbox Accounts and those banks in which any other Deposit Accounts (other than any Excluded Account) are maintained, enter into on or prior to the Closing Date or within 20 days thereof (or if any new Lockbox Accounts or Deposit Accounts are opened after such date, on the date on which such new Lockbox Accounts or Deposit Accounts are opened) separate Cash Management Control Agreements, in each case, to be in form and substance reasonably satisfactory to the Administrative Agent, it being agreed and acknowledged that the control agreements delivered to the Administrative Agent pursuant to the Prepetition Credit Agreement constitute Cash Management Control Agreements under this Agreement and are satisfactory to the Administrative Agent for all purposes under this Agreement. Each Lockbox Account shall be a “zero” balance account. Each Collection Bank will be instructed to transfer all credit balances in each Lockbox Account to the Core Concentration Account not later than the close of business on each Business Day unless such amounts are otherwise (A) required to be applied pursuant to Section 2.06(b)(i) or (B) so long as no Dominion Period then exists, required to be retained in any Lockbox Account to satisfy the payment of outstanding obligations owing in respect of checks or similar obligations issued by any Loan Party, provided that the aggregate amount retained in all such Lockbox Accounts pursuant to this clause (B) shall not exceed that amount (as reasonably determined by the Borrower) to cover the aggregate amounts of all such outstanding obligations, and no other withdrawals shall be permitted except for withdrawals authorized in writing by the Administrative Agent for ordinary course recalls or credits relating to the Accounts or as set forth in any Cash Management Control Agreement entered into by the Administrative Agent with respect to such Lockbox Account. Such instructions will be irrevocable without the prior written consent of the Administrative Agent.

  • Deposits to Lock-Box Accounts The Seller shall (or shall cause the Servicer to): (i) instruct all Obligors to make payments of all Receivables to one or more Lock-Box Accounts or to post office boxes to which only Lock-Box Banks have access (and shall instruct the Lock-Box Banks to cause all items and amounts relating to such Receivables received in such post office boxes to be removed and deposited into a Lock-Box Account on a daily basis), (ii) deposit, or cause to be deposited, any Collections received by it, the Servicer or any Originator into Lock-Box Accounts not later than one Business Day after receipt thereof and (iii) if a Termination Event has occurred and is continuing, directly transfer all Collections received in each Exception Account to a Lock-Box Account (other than an Exception Account) no later than one (1) Business Day following receipt thereof. Except as otherwise agreed to in writing by the Administrator and the Majority Purchasers, each Lock-Box Account shall at all times be subject to a Lock-Box Agreement; provided, however, that so long as the Exception Account Conditions are then satisfied with respect to an Exception Account, such Exception Account need not be subject to a Lock-Box Agreement. The Seller will not (and will not permit the Servicer to) deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections; provided that the Seller may permit (i) collections relating to Excluded Receivables and (ii) such other collections not relating to Receivables as the Administrator may approve in writing, in each case, to be so deposited or credited to any Lock-Box Account so long as (x) the amount of such collections does not exceed $15,000,000 for any calendar month and (y) the Administrator has not requested in writing that the Servicer direct obligors relating to such Excluded Receivables to cease making payments to Lock-Box Accounts.

  • Blocked Accounts Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

  • Lock-Box Accounts The names and addresses of all of the Lock-Box Banks, together with the account numbers of the Lock-Box Accounts of Seller at such Lock-Box Banks, are specified in Schedule 6.1(n).