As to Deposit Accounts Sample Clauses

As to Deposit Accounts. (a) With respect to any Deposit Account owned or held by any Grantor that is required to be subject to an Account Control Agreement pursuant to the Credit Agreement or that holds US Available Funds, such Grantor will cause the depositary bank maintaining such Deposit Account to execute an Account Control Agreement relating to such Deposit Account and the funds therein pursuant to which such depositary bank agrees to comply with the Administrative Agent’s instructions with respect to such Deposit Account without further consent by such Grantor; and
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As to Deposit Accounts. With respect to any Deposit Accounts owned by any Grantor (other than cash and cash equivalents not exceeding $250,000 in the aggregate and accounts the entire balance of which is swept at least once every three business days to an account described below), provided that, notwithstanding such threshold, a Control Agreement shall always cover the Company’s and its Subsidiaries’ main collection account, such Grantor will cause a Control Agreement relating to such Deposit Account to be executed and delivered by such Grantor and the applicable bank in favor of the Collateral Agent:
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As to Deposit Accounts. With respect to any Deposit Account owned or held by any Grantor (other than any Deposit Account used solely for payroll, workers compensation or 401(k) or other employee benefits), such Grantor will, promptly following the request of the US Administrative Agent, either (i) cause the depositary bank maintaining such Deposit Account to execute a Control Agreement relating to such Deposit Account and the funds therein pursuant to which such depositary bank agrees to comply with the US Administrative Agent’s instructions with respect to such Deposit Account without further consent by such Grantor, or (2) transfer the funds in such Deposit Account to depositary banks that have or will agree to execute such Control Agreements and close such Deposit Account.
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As to Deposit Accounts. Each agrees that all Deposit Accounts (other than Deposit Accounts having balances not exceeding $50,000 individually and Deposit Accounts having balances, in the aggregate, not exceeding $250,000) shall be under the exclusive dominion and control of the Domestic Administrative Agent and no withdrawals therefrom or other activities therein shall be made without the prior written consent and instruction of the Domestic Administrative Agent; provided that unless and until an Event of Default has occurred and is continuing and the Domestic Administrative Agent has given notice thereof to the Parent, each Administrative Agent hereby authorizes each Grantor to make such withdrawals and otherwise conduct activities in its Deposit Accounts. Upon any request by the Domestic Administrative Agent from time to time, each Grantor shall execute and deliver such blocked account and other control agreements and other documents and instruments as the Domestic Administrative Agent may reasonably request in order to further perfect and preserve the security interests granted hereby in all Deposit Accounts.
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As to Deposit Accounts. With respect to any Deposit Account owned or held by any Grantor, such Grantor will, following (a) the occurrence and continuance of an Event of Default and (b) the request of the Administrative Agent, either (i) cause the depositary bank maintaining such Deposit Account to execute a Control Agreement relating to such Deposit Account and the funds therein pursuant to which such depositary bank agrees to comply with the Administrative Agent’s instructions with respect to such Deposit Account without further consent by such Grantor, or (ii) transfer the funds in such Deposit Account to depositary banks that have or will agree to execute such Control Agreements and close such Deposit Account.
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As to Deposit Accounts. (1) All certificates and instruments, if any, representing or evidencing the Deposit Account Collateral shall be delivered to and held by or on behalf of the Secured Party pursuant hereto and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance satisfactory to the Secured Party. The Secured Party shall have the right, at any time in its discretion and without notice to the Debtor, to transfer to or register in the name of the Secured Party or any of its nominees any or all of the Deposit Account Collateral. In addition, the Secured Party shall have the right at any time to exchange any certificates or instruments representing or evidencing any Deposit Account Collateral for certificates or instruments of smaller or larger denominations.
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As to Deposit Accounts. For each deposit account that Grantor at any time opens or maintains, Grantor shall, at Bank’s request and option, pursuant to an agreement in form and substance satisfactory to Bank, either (a) cause the depositary bank to comply at any time with instructions from Bank to such depositary bank directing the disposition of funds from time to time credited to such deposit account, without further consent of Grantor, or (b) arrange for Bank to become the customer of the depositary bank with respect to the deposit account, with Grantor being permitted, only with the consent of Bank, to exercise rights to withdraw funds from such deposit account. The provisions of this section shall not apply to (i) any deposit account for which Grantor, the depositary bank and Bank have entered into a cash collateral agreement specially negotiated among Grantor, the depositary bank and Bank for the specific purpose set forth therein, (ii) a deposit account for which Bank is the depositary bank and is in automatic control, and (iii) deposit accounts specially and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Grantor’s salaried employees.
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As to Deposit Accounts. (a) Subject to, and without limiting the effect of, the Intercreditor Agreement and clause (b) of this Section 4.5, within 30 Business Days of the Issue Date, each Grantor shall maintain each of its deposit accounts (including the Collateral Account) included in the Collateral pursuant to a deposit account control agreement which is in all respects satisfactory to the Perfection Agent and which provides for the Perfection Agent to have "control" (as defined in Section 9-104 of the UCC) and provides, among other things, that (i) until the deposit account bank shall have received written notice from the Perfection Agent pursuant to this clause, the deposit account bank will make all payments from such Deposit Account as specified by such Grantor and, after any such notice, the deposit account bank will make all payments from such Deposit Account to the Perfection Agent for credit to the Collateral Account, (ii) the deposit account bank (if other than the First Priority Agent, a First Priority Lender, the Collateral Agent or the Trustee) waives all set off rights (other than setoff rights for reasonable and customary account service charges and fees and amounts based on items that are dishonored by the payor thereof and returned to the deposit account bank), and (iii) such deposit account agreement may not be amended without the written consent of the Perfection Agent. The Collateral Agent will not give the notice referred to in the preceding clause (a)(i) unless it has given, or is contemporaneously giving, notice pursuant to clause (b) of this Section. In the event that a deposit account bank refuses to enter into a deposit account agreement in accordance with the above listed terms within 30 days of a Grantor's request, the Perfection Agent shall have the right to direct such Grantor to transfer the assets in that deposit account to a bank which will enter into a deposit account agreement in accordance with the above listed terms.
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Related to As to Deposit Accounts

  • Deposit Accounts Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Lender has an Account Control Agreement.

  • Deposit Accounts; Etc (i) Schedule 5 hereto accurately sets forth, as of the date of this Agreement, for each Grantor, each deposit account maintained by such Grantor (including a description thereof and the respective account number) and the name of the respective bank with which such deposit account is maintained. Subject to Section 4(c) hereof and the terms of the Intercreditor Agreement, for each deposit account that is Collateral (other than the Cash Collateral Account or any other deposit account maintained with the Collateral Agent), the respective Grantor shall use commercially reasonable efforts to cause the bank with which the deposit account is maintained to execute and deliver to the Collateral Agent, (x) in the case of an account located at a bank which is a lender under the Senior Credit Facility, within 30 days after the date of this Agreement (or, if later, the date of the establishment of the respective deposit account), or (y) in the case of an account located at a bank which is a not lender under the Senior Credit Facility, within 45 days after the date of this Agreement (or, if later, the date of the establishment of the respective deposit account), a “control agreement” in form and substance consistent with the deposit account control agreements entered into by the Company pursuant to the Senior Credit Facility, or otherwise acceptable to the Collateral Agent. Subject to Section 10(n)(iii) hereof, if any bank with which a deposit account is maintained refuses to, or does not, enter into such a “control agreement”, then the respective Grantor shall promptly (and in any event within 30 days after the date of this Agreement or, if later, 30 days after the establishment of such account) close the respective deposit account and transfer all balances therein to the Cash Collateral Account or another deposit account meeting the requirements of this Section 4(q). If any bank with which a deposit account is maintained refuses to subordinate all its claims with respect to such deposit account to the Collateral Agent’s security interest therein on terms satisfactory to the Collateral Agent, then the Collateral Agent, at its option, may (x) require that such deposit account be terminated in accordance with the immediately preceding sentence or (y) agree to a “control agreement” without such subordination, provided that in such event the Collateral Agent may at any time, at its option, subsequently require that such deposit account be terminated (within 30 days after notice from the Collateral Agent) in accordance with the requirements of the immediately preceding sentence.

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

  • Administration of Deposit Accounts Schedule 8.5 sets forth all Deposit Accounts maintained by Obligors, including all Dominion Accounts. Each Obligor shall take all actions necessary to establish Agent’s control over each such Deposit Account (other than Excluded Deposit Accounts). Each Obligor shall be the sole account holder of each Deposit Account and shall not allow any Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Obligor 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.

  • Deposit Accounts; Securities Accounts The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.

  • Control Accounts; Approved Deposit Accounts Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.

  • Securities Accounts If a Collateral Account is a securities account, the Financial Institution agrees that:

  • Deposit Accounts, Securities Accounts and Commodity Accounts Attached hereto as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity Accounts (each as defined in the Security Agreement) maintained by each Pledgor, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each account.

  • MAINTENANCE OF DEPOSIT ACCOUNTS PSC shall maintain on behalf of Customer such deposit accounts as are necessary or desirable from time to time to enable PSC to carry out the provisions of this Agreement.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

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