Common use of Bank Blocked Accounts Charges and Procedures Clause in Contracts

Bank Blocked Accounts Charges and Procedures. US Bank is hereby authorized to (a) charge the Bank Blocked Accounts for all returned checks, service charges, and other fees and charges associated with the deposits by the Borrower to and withdrawals by the Borrower from the Bank Blocked Accounts; (b) follow its usual procedures in the event the Bank Blocked Accounts or any check, draft or other order for payment of money should be or become the subject of any writ, levy, order or other similar judicial or regulatory order or process; and (c) upon receipt of authorization from the Agent, transfer any collected and available balances relating to the Borrower in the Bank Blocked Accounts each day by wire transfer to the Borrower’s operating account number 000000000000 maintained with U.S. Bank; provided, however, that such authorizations may be terminated at any time by Agent. Funds are not available if, in the reasonable determination of Agent, they are subject to a hold, dispute or legal process preventing their withdrawal. If the available balances in the Bank Blocked Accounts relating to the Borrower are not sufficient to pay US Bank for any returned check, draft or order for the payment of money relating to the Borrower, or to compensate US Bank for any charges or fees due US Bank with respect to the deposits by the Borrower to and withdrawals by the Borrower from the Bank Blocked Accounts, the Borrower agrees to pay on demand the amount due US Bank. The Borrower agrees that it cannot, and will not, withdraw any monies from the Bank Blocked Accounts until such time as the Agent authorizes such withdrawal and it will not permit the Bank Blocked Accounts to become subject to any other pledge, assignment, lien, charge or encumbrance of any kind, nature or description, other than Agent’s security interest.

Bank Blocked Accounts Charges and Procedures. US Bank is hereby authorized The Agent may authorize Wxxxx Fargo to (a) charge the Bank Blocked Accounts for all returned checks, service charges, and other fees and charges associated with the deposits by the Borrower to and withdrawals by the Borrower from the Bank Blocked Accounts; and (b) follow its usual procedures in the event the Bank Blocked Accounts or any check, draft or other order for payment of money should be or become the subject of any writ, levy, order or other similar judicial or regulatory order or process; and (c) upon receipt of authorization from the Agent, transfer any collected and available balances relating to the Borrower in the Bank Blocked Accounts each day by wire transfer to the Borrower’s operating account number 000000000000 maintained with U.S. Bank; provided, however, that such authorizations may be terminated at any time by Agent. Funds are not available if, in the reasonable determination of Agent, they are subject to a hold, dispute or legal process preventing their withdrawal. If the available balances in the Bank Blocked Accounts relating to the Borrower are not sufficient to pay US Bank Wxxxx Fargo for any returned check, draft or order for the payment of money relating to the Borrower, or to compensate US Bank Wxxxx Fargo for any charges or fees due US Bank Wxxxx Fargo with respect to the deposits by the Borrower to and withdrawals by the Borrower from the Bank Blocked Accounts, the Borrower agrees to pay on demand the amount due US BankWxxxx Fargo. The Borrower agrees that it cannot, and will not, withdraw any monies from the Bank Blocked Accounts until such time as the Agent authorizes such withdrawal and it will not permit the Bank Blocked Accounts to become subject to any other pledge, assignment, lien, charge or encumbrance of any kind, nature or description, other than Agent’s security interest.

Bank Blocked Accounts Charges and Procedures. US Bank is hereby authorized The Agent may authorize Xxxxx Fargo to (a) charge the Bank Blocked Accounts for all returned checks, service charges, and other fees and charges associated with the deposits by the Borrower to and withdrawals by the Borrower from the Bank Blocked Accounts; and (b) follow its usual procedures in the event the Bank Blocked Accounts or any check, draft or other order for payment of money should be or become the subject of any writ, levy, order or other similar judicial or regulatory order or process; and (c) upon receipt of authorization from the Agent, transfer any collected and available balances relating to the Borrower in the Bank Blocked Accounts each day by wire transfer to the Borrower’s operating account number 000000000000 maintained with U.S. Bank; provided, however, that such authorizations may be terminated at any time by Agent. Funds are not available if, in the reasonable determination of Agent, they are subject to a hold, dispute or legal process preventing their withdrawal. If the available balances in the Bank Blocked Accounts relating to the Borrower are not sufficient to pay US Bank Xxxxx Fargo for any returned check, draft or order for the payment of money relating to the Borrower, or to compensate US Bank Xxxxx Fargo for any charges or fees due US Bank Xxxxx Fargo with respect to the deposits by the Borrower to and withdrawals by the Borrower from the Bank Blocked Accounts, the Borrower agrees to pay on demand the amount due US BankXxxxx Fargo. The Borrower 3rd A&R Credit Agreement [Enserco] 95 011038.0122\517034.09 agrees that it cannot, and will not, withdraw any monies from the Bank Blocked Accounts until such time as the Agent authorizes such withdrawal and it will not permit the Bank Blocked Accounts to become subject to any other pledge, assignment, lien, charge or encumbrance of any kind, nature or description, other than Agent’s security interest.