Assignment of Bank Accounts Sample Clauses

Assignment of Bank Accounts. Upon the occurrence of an Event of Default under this Deed of Trust any funds on deposit with Beneficiary in the name of Grantor, and any securities and property given unto or left in the possession of the Beneficiary by Grantor, whether as collateral security or held in escrow or otherwise, are hereby assigned to Beneficiary, shall be held by it as additional security for the Loan and may be applied to the payment of any sums due it under the terms of the Note or the other Loan Documents.
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Assignment of Bank Accounts. The Assignor hereby assigns to the Assignee, as security for the Secured Liabilities, its Bank Accounts, together with all subsidiary and preferential rights attaching thereto, and accrued, current and future interest.
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Assignment of Bank Accounts. The Seller shall simultaneously with the Closing, assign the Bank Accounts to the Buyer or cause the Bank Accounts to be assigned to the Buyer.
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Assignment of Bank Accounts. Article VIII of the Agreement is amended by adding the following Section 8.3:
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Assignment of Bank Accounts. In addition to the security interest granted in Section 6.0, Borrower hereby absolutely assigns to Lender Borrower's interest in and right to all bank accounts, and all funds in such accounts, which are established in connection with Dealer Contracts for payments under installment contracts. v. Conditions to Each Advance. Section 9.0 (A) of the Agreement is amended to be as follows: For each Eligible Contract, Borrower shall have included the Eligible Contract on a List of Contracts delivered to Lender and, subject to Section 6.9, shall have delivered to Lender the Contract Delivery Documents; except that, if a Certificate of Title has not been issued and Borrower has provided Lender with proof acceptable to Lender that a Certificate of Title has been applied for, then the Certificate of Title must be delivered to Lender within ninety (90) days of the Contract date;
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Assignment of Bank Accounts. Upon an Event of Default under this Mortgage any funds on deposit with the Mortgagee in the name of any Mortgagor or pledged to Mortgagee and on deposit with the Bank of North America (other than those with respect to the sale of residential units under construction on any subdivided and improved lot within the Premises) in accordance with the Loan Agreement, and any securities and property given unto or left in the possession of the Mortgagee by any Mortgagor, whether as collateral security or held in escrow or otherwise or pledged to Mortgagee and on deposit with the Bank of North America (other than with respect to the sale of residential units under construction) in accordance with the Loan Agreement, is hereby assigned to the Mortgagee, shall be held by it as additional security and may be applied to the payment of any sums due it under the terms of the Note.
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Assignment of Bank Accounts. (a) The parties agree that as of the Closing Seller shall assign and transfer to the U.S. Acquisition Subsidiary the bank accounts relating to the CD Int Business listed on Exhibit B to this Agreement (collectively, the "Transferred Bank Accounts"). Seller agrees to take all other necessary or desirable actions reasonably requested by Buyer to evidence and confirm the foregoing assignment and transfer. (b) Buyer shall cause the payroll accounts included in the Transferred Bank Accounts to be funded in an amount sufficient to satisfy all payroll obligations of the United States operations of the CD Int Business for the pay period ending December 31, 1997. Buyer agrees that Seller may remove all or a portion of the other cash held in the Transferred Bank Accounts prior to the Closing; provided however, it is understood that notwithstanding any contrary provision in the Asset Purchase Agreement any cash balances in the Transferred Bank Accounts shall be included as an asset on the Final Audited Closing Statement of Net Assets. Seller acknowledges that it shall not be entitled to remove any cash held an any bank account maintained by CD Canada, the CD U.K. Subsidiaries and CD Plus. (c) Buyer and the U.S. Acquisition Subsidiary acknowledge that certain checks drawn on the Transferred Bank Accounts have been issued but not presented for payment as of the Closing Date and that the liability to fund the Transferred Bank Accounts to satisfy such outstanding checks is an Assumed Liability under Section 1.2(b) of the Purchase Agreement. (d) Buyer and Seller agree that for purposes of calculating the Closing Date Net Assets pursuant to Section 1.4 of the Purchase Agreement, a liability shall be recorded on the Final Audited Closing Statement of Net Assets in an amount equal to the aggregate amount of outstanding checks issued but not presented for payment as of the Closing constituting Assumed Liabilities in accordance with Section 1.2(b) of the Purchase Agreement. No liability shall be recorded on the Final Audited Closing Statement of Net Assets with respect to outstanding payroll checks to the extent such checks have been funded by Seller pursuant to Section 9(b) above.
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Related to Assignment of Bank Accounts

  • Location of Bank Accounts Schedule 6.01(v) sets forth a complete and accurate list as of the Effective Date of all deposit, checking and other bank accounts, all securities and other accounts maintained with any broker dealer and all other similar accounts maintained by each Loan Party, together with a description thereof (i.e., the bank or broker dealer at which such deposit or other account is maintained and the account number and the purpose thereof).

  • Additional Bank Accounts Borrower shall not, directly or indirectly, open, establish or maintain any deposit account, investment account or any other account with any bank or other financial institution, other than the Blocked Accounts and the accounts set forth in Schedule 8.8 hereto, except: (a) as to any new or additional Blocked Accounts and other such new or additional accounts which contain any Collateral or proceeds thereof, with the prior written consent of Lender and subject to such conditions thereto as Lender may establish and (b) as to any accounts used by Borrower to make payments of payroll, taxes or other obligations to third parties, after prior written notice to Lender.

  • Assignment of Account We may sell, assign, pledge or transfer this Agreement (including any addendum to this Agreement), your account or an interest in your account to a third party without notice to you. In the absence of a notice of such sale or transfer, you must continue to make all required payments to us in accordance with your billing statement.

  • Bank Account Payments shall be made to the Contractor’s bank account denominated in euro, identified as follows: Name of bank: [complete] Address of branch in full: [complete] Exact designation of account holder: [complete] Full account number including codes: [complete] [IBAN code: [complete]]

  • Custody of Partnership Funds; Bank Accounts (a) All funds of the Partnership not otherwise invested shall be deposited in one or more accounts maintained in such banking or brokerage institutions as the General Partner shall determine, and withdrawals shall be made only on such signature or signatures as the General Partner may, from time to time, determine. (b) All deposits and other funds not needed in the operation of the business of the Partnership may be invested by the General Partner in investment grade instruments (or investment companies whose portfolio consists primarily thereof), government obligations, certificates of deposit, bankers’ acceptances and municipal notes and bonds. The funds of the Partnership shall not be commingled with the funds of any other Person except for such commingling as may necessarily result from an investment in those investment companies permitted by this Section 10.2(b).

  • Bank Accounts The Custodian shall identify on its books as belonging to the applicable Fund cash (including cash denominated in foreign currencies) deposited with the Custodian. Where the Custodian is unable to maintain, or market practice does not facilitate the maintenance of, cash on the books of the Custodian, a bank account or bank accounts shall be opened and maintained outside the United States on behalf of a Portfolio with a Foreign Sub-Custodian. All accounts referred to in this Section shall be subject only to draft or order by the Custodian (or, if applicable, such Foreign Sub-Custodian) acting pursuant to the terms of this Agreement to hold cash received by or from or for the account of the Portfolio. Cash maintained on the books of the Custodian (including its branches, subsidiaries and affiliates), regardless of currency denomination, is maintained in bank accounts established under, and subject to the laws of, The Commonwealth of Massachusetts.

  • Investment of Accounts (a) So long as no Event of Default shall have occurred and be continuing, and consistent with any requirements of the Code, all or a portion of any Account other than the Certificate Insurance Payment Account held by the Trustee shall be invested and reinvested by the Trustee, as directed in writing by the Servicer, in one or more Permitted Investments bearing interest or sold at a discount. If an Event of Default shall have occurred and be continuing or if the Servicer does not provide investment directions, the Trustee shall invest all Accounts in Permitted Investments described in paragraph (iv) of the definition of Permitted Investments. No such investment in any Account shall mature later than the Business Day immediately preceding the next Distribution Date (except that if such Permitted Investment is an obligation of the Trustee, then such Permitted Investment shall mature not later than such Distribution Date). (b) Subject to Section 6.01(b), if any amounts are needed for disbursement from any Account held by the Trustee and sufficient uninvested funds are not available to make such disbursement, the Trustee shall cause to be sold or otherwise converted to cash a sufficient amount of the investments in such Account. The Trustee shall not be, and the Servicer shall be, liable for any investment loss or other charge resulting therefrom unless the Trustee's failure to perform in accordance with this Section 6.06 is the cause of such loss or charge. (c) Subject to Section 9.01 hereof, the Trustee shall not in any way be held liable by reason of any insufficiency in any Account held by the Trustee resulting from any investment loss on any Permitted Investment included therein (except to the extent that the Trustee is the obligor and has defaulted thereon or as provided in subsection (b) of this Section 6.06). (d) So long as no Event of Default shall have occurred and be continuing, all net income and gain realized from investment of, and all earnings on, funds deposited in any Account (excluding the Certificate Insurance Payment Account) shall be for the benefit of the Servicer as servicing compensation (in addition to the Servicing Fee). The Servicer shall deposit in the related Account the amount of any loss incurred in respect of any Permitted Investment held therein which is in excess of the income and gain thereon immediately upon realization of such loss, without any right to reimbursement therefor from its own funds.

  • Assignment, Etc The Holder may assign or transfer this Note to any transferee at its sole discretion. This Note shall be binding upon the Company and its successors and shall inure to the benefit of the Holder and its successors and permitted assigns.

  • Deposit Account Control Agreement control agreement satisfactory to Agent executed by an institution maintaining a Deposit Account for an Obligor, to perfect Agent’s Lien on such account.

  • Bank Accounts; Power of Attorney of the Company Disclosure Schedules sets forth a true and complete list of (i) all accounts with banks, money market mutual funds or securities or other financial institutions maintained by the Company within the past twelve (12) months, the account numbers thereof, and all Persons authorized to sign or act on behalf of the Company; (ii) all safe deposit boxes and other similar custodial arrangements maintained by the Company within the past twelve (12) months; (iii) the check ledger for the last twelve (12) months, and (iv) the names of all Persons holding powers of attorney from the Company or who are otherwise authorized to act on behalf of the Company with respect to any matter, other than its officers and managers, and a summary of the terms of such powers or authorizations.