Common use of and 8 Clause in Contracts

and 8. 5.2 to add or replace a depository bank or any Blocked Account; provided that (i) the Agent shall have consented in writing in advance to the opening of such new or replacement Blocked Account with the relevant bank (which consent shall not be unreasonably withheld or delayed) and (ii) prior to the time of the opening of such account, the applicable Credit Party and such bank shall have executed and delivered to the Agent a Blocked Account Agreement in form and substance reasonably satisfactory to the Agent in its sole discretion. Each Credit Party shall cease using any Blocked Account to hold proceeds of Collateral promptly and in any event within 30 days (or such later date as the Agent may, in its sole reasonable discretion, consent to in writing) following notice from the Agent to the Borrower Agent that (A) the creditworthiness of the bank holding such Blocked Account is no longer acceptable in the Agent’s Credit Judgment, or (B) the operating performance, funds transfer or availability procedures or performance with respect to accounts or lockboxes of the bank holding such Blocked Account or Agent’s liability under any Blocked Account Agreement with such bank is no longer acceptable in the Agent’s Credit Judgment.

and 8. 5.2 2.2 to add or replace a depository bank or any Blocked Account; provided that (i) the Agent shall have consented in writing in advance to the opening of such new or replacement Blocked Account with the relevant bank (which consent shall not be unreasonably withheld or delayed) and (ii) prior to the time of the opening of such account, the applicable Credit Party and such bank shall have executed and delivered to the Agent a Blocked Account Agreement in form and substance reasonably satisfactory to the Agent in its sole discretion. Each Credit Party shall cease using any Blocked Account to hold proceeds of Collateral promptly and in any event within 30 days (or such later date as the Agent may, in its sole reasonable discretion, consent to in writing) following notice from the Agent to the Borrower Agent that (A) the creditworthiness of the bank holding such Blocked Account is no longer acceptable in the Agent’s Credit Judgment, or (B) the operating performance, funds transfer or availability procedures or performance with respect to accounts or lockboxes of the bank holding such Blocked Account or Agent’s liability under any Blocked Account Agreement with such bank is no longer acceptable in the Agent’s Credit Judgment.