Common use of Administration of Deposit Accounts Clause in Contracts

Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

Appears in 3 contracts

Samples: Loan and Security Agreement (Houston Wire & Cable CO), Loan and Security Agreement (Conns Inc), Loan and Security Agreement (Houston Wire & Cable CO)

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Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than that $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

Appears in 3 contracts

Samples: Loan and Security Agreement (Modtech Holdings Inc), Loan and Security Agreement (Agilysys Inc), Loan and Security Agreement (Arctic Cat Inc)

Administration of Deposit Accounts. Disclosure Schedule 8.5 sets forth all Deposit Accounts maintained by BorrowersBorrower, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than that $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Disclosure Schedule 8.5 to reflect same.

Appears in 2 contracts

Samples: Loan and Security Agreement (Sport Chalet Inc), Loan and Security Agreement (Sport Chalet Inc)

Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent or ABL Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Conns Inc)

Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by the Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish the Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes taxes, or employee benefits, or an account containing not more than that $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than the Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify the Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect sameAccount.

Appears in 1 contract

Samples: Loan and Security Agreement (Amkor Technology Inc)

Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account a Deposit Account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than $10,000 at any time) and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

Appears in 1 contract

Samples: Credit and Security Agreement (Titan International Inc)

Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent or Term Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

Appears in 1 contract

Samples: Loan and Security Agreement (Conns Inc)

Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Borrowers. Subject to Section 8.2.4, including all Dominion Accounts. Each Borrower Borrowers shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or taxes, employee benefits, workers’ compensation claims, prepaid insurance, or an account containing not more than $10,000 50,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

Appears in 1 contract

Samples: Loan and Security Agreement (Superior Essex Inc)

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Administration of Deposit Accounts. Schedule 8.5 to the Disclosure Letter sets forth all Deposit Accounts maintained by Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s and the Term Loan Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than $10,000 at any timeExcluded Deposit Account). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent or Term Loan Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to the Disclosure Letter to reflect same.

Appears in 1 contract

Samples: Loan and Security Agreement (Monaco Coach Corp /De/)

Administration of Deposit Accounts. Disclosure Schedule 8.5 sets forth all Deposit Accounts maintained by BorrowersBorrower, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent and Revolver Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Disclosure Schedule 8.5 to reflect same.

Appears in 1 contract

Samples: Term Loan and Security Agreement (Sport Chalet Inc)

Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s 's control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than that $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

Appears in 1 contract

Samples: Loan and Security Agreement (Conns Inc)

Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by the Borrowers, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish the Agent’s 's control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes taxes, or employee benefits, or an account containing not more than that $10,000 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than the Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify the Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect sameAccount.

Appears in 1 contract

Samples: Loan and Security Agreement (Amkor Technology Inc)

Administration of Deposit Accounts. Schedule 8.5 sets forth all Deposit Accounts maintained by Borrowerseach Borrower, including all Dominion Accounts. Each Borrower shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than an account exclusively used for payroll, payroll taxes or employee benefits, or an account containing not more than $10,000 2,500 at any time). Each Borrower shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

Appears in 1 contract

Samples: Loan and Security Agreement (Americas Carmart Inc)

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