Common use of Administration of Deposit Accounts Clause in Contracts

Administration of Deposit Accounts. Schedule 8.5 lists, as of the Closing Date, all Deposit Accounts maintained by Borrowers, including Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s first priority Lien (subject to Permitted Liens set forth in Section 10.2.2(i)) on each Deposit Account (other than an Excluded Account). A Borrower shall be the sole account holder of each such Deposit Account and shall not allow any Person (other than Agent and the depository bank) to have control over such Deposit Accounts or any Property deposited therein. The Borrowers shall promptly notify Agent of any opening or closing of a Deposit Account (other than an Excluded Account).

Administration of Deposit Accounts. Schedule 8.5 lists, as of the Closing Date, sets forth all Deposit Accounts maintained by Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s first priority Lien (subject to Permitted Liens set forth in Section 10.2.2(i)) on control of each such Deposit Account (other than a Deposit Account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than $100,000 at any time, all such accounts being “Excluded AccountDeposit Accounts”). A Borrower shall be the sole account holder of each such Deposit Account and shall not allow any other Person (other than Agent and the depository bankAgent) to have control over such a Deposit Accounts Account or any Property deposited therein. The Borrowers Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account (other than an any Excluded Account)Deposit Accounts) and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

Administration of Deposit Accounts. Schedule 8.5 lists, as of the Closing Date, sets forth all Deposit Accounts maintained by Borrowers, (including Dominion Accounts) maintained by Obligors. Each Borrower Obligor shall take all actions (including maintaining Deposit Account Control Agreements) necessary to establish Agent’s first priority Lien (subject to Permitted Liens set forth in Section 10.2.2(i)) on each Deposit Account (other than an including Dominion Accounts, but excluding Excluded Account)Accounts) into which proceeds of Accounts or Inventory are deposited. A Borrower An Obligor shall be the sole account holder of each such Deposit Account and shall not allow any other Person (other than Agent and the depository bankAgent) to have control over such a Deposit Accounts Account or any Property deposited therein. The Borrowers Each Obligor shall promptly notify Agent of any opening or closing of a Deposit Account (other than an any Excluded Account)Accounts) and will amend Schedule 8.5 to reflect same.