Common use of Banking Services Clause in Contracts

Banking Services. Subject to Section 5.15, each Loan Party will maintain the Administrative Agent as its principal depository bank, including for the maintenance of operating, administrative, cash management, collection activity, and other deposit accounts for the conduct of its business. In the event that the Borrower or any other Loan Party engages in a solicitation of proposals for other Bank Services not covered by the immediately preceding sentence, the Borrower and applicable Loan Parties shall use commercially reasonable efforts to provide JPM with the opportunity to submit a proposal. The Borrower and applicable Loan Parties agree to consider JPM’s proposal in good faith along with any other proposals such party receives in connection with such solicitation, but neither the Borrower nor any other Subsidiary shall be obligated to select JPM’s proposal for such Bank Services.

Banking Services. Subject to Section 5.15, each eachEach Loan Party will maintain the Administrative Agent as its principal depository bank, including for the maintenance of operating, administrative, cash management, collection activity, and other deposit accounts for the conduct of its business. In the event that the Borrower or any other Loan Party engages in a solicitation of proposals for other Bank Services not covered by the immediately preceding sentence, the Borrower and applicable Loan Parties shall use commercially reasonable efforts to provide JPM with the opportunity to submit a proposal. The Borrower and applicable Loan Parties agree to consider JPM’s proposal in good faith along with any other proposals such party receives in connection with such solicitation, but neither the Borrower nor any other Subsidiary shall be obligated to select JPM’s proposal for such Bank Services.