Common use of Blocked Accounts Clause in Contracts

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 77 contracts

Samples: Revolving Credit and Security Agreement (Green Plains Inc.), Revolving Credit, Term Loan and Security Agreement (Perma Fix Environmental Services Inc), Revolving Credit and Security Agreement (TCP International Holdings Ltd.)

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Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions reasonably acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 4 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (Integrated Biopharma Inc), Revolving Credit and Security Agreement (Hutchinson Technology Inc), Revolving Credit, Term Loan and Security Agreement (P&f Industries Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the CollateralCollateral or, alternatively, the Borrower shall have established with Agent all of its bank accounts with Agent, all in a manner to the satisfaction of Agent in its sole discretion;

Appears in 3 contracts

Samples: Revolving Credit and Security Agreement (Horsehead Holding Corp), Revolving Credit and Security Agreement (Horsehead Holding Corp), Revolving Credit and Security Agreement (Horsehead Holding Corp)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or for Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 3 contracts

Samples: Credit and Security Agreement (Pc Connection Inc), Credit and Security Agreement (Pc Connection Inc), Credit and Security Agreement (Pc Connection Inc)

Blocked Accounts. Administrative Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Administrative Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Comforce Corp), Revolving Credit and Security Agreement (Comforce Corp)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts with one or Depository Accounts with financial institutions acceptable to Agent more Blocked Account Banks for the collection or servicing of the Receivables and proceeds of the Collateral, and Agent shall have received, in form and substance reasonably satisfactory to Agent, a Control Agreement among Agent, Revolving Loan Agent, Quantum and each Specified Domestic Blocked Account Bank with respect to the Blocked Accounts maintained by Quantum at Specified Domestic Blocked Account Banks;

Appears in 2 contracts

Samples: Term Loan Credit and Security Agreement (Quantum Corp /De/), Term Loan Credit and Security Agreement (Quantum Corp /De/)

Blocked Accounts. Agent shall have received received, in form and substance satisfactory to Agent, duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (E Com Ventures Inc), Revolving Credit and Security Agreement (E Com Ventures Inc)

Blocked Accounts. Agent shall have received duly executed ---------------- agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 2 contracts

Samples: Revolving Credit, Term Loan and Security Agreement (Air Methods Corp), Revolving Credit and Security Agreement (Air Methods Corp)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Collection Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 2 contracts

Samples: Revolving Credit, Guaranty, and Security Agreement (Rocky Brands, Inc.), Revolving Credit, Guaranty, and Security Agreement (Rocky Brands, Inc.)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions reasonably acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral, except for any zero-balance accounts or accounts which are used solely for the payment of salaries and wages, employee benefits, workers’ compensation and similar expenses;

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (SMTC Corp), Revolving Credit and Security Agreement (SMTC Corp)

Blocked Accounts. To the extent so requested, Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Keane Group, Inc.), Revolving Credit and Security Agreement (Keane Group, Inc.)

Blocked Accounts. Agent shall have received the duly executed Blocked Account Agreements or other agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 2 contracts

Samples: Revolving Credit and Security Agreement (Allegheny Technologies Inc), Revolving Credit and Security Agreement (Imco Recycling Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the CollateralCollateral or, alternatively, Loan Parties shall have established with Agent all of its bank accounts with Agent, all in a manner to the satisfaction of Agent in its sole discretion;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (General Finance CORP)

Blocked Accounts. Agent shall have received the duly executed Blocked Account Agreements or other agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the CollateralCollateral and such agreements shall be held in escrow pursuant to the terms of Section 4.15(h) hereof;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Allegheny Technologies Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Lock Boxes and Lock Box Accounts with financial institutions reasonably acceptable to Agent for the collection or servicing of the Receivables Accounts and proceeds of the CollateralCollateral and shall have received fully-executed copies of Account Control Agreements with respect to Borrowers’ Lock Boxes and Lock Box Accounts and other depositary accounts as shall be requested by Agent;

Appears in 1 contract

Samples: Loan and Security Agreement (Teletouch Communications Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the CollateralCollateral (including a transition agreement entered into with Xxxxx Fargo Capital Finance, LLC and Xxxxx Fargo Bank, National Association with respect to the post-closing handling of dispositions of receipts at Borrowers’ existing lockbox accounts);

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Image Entertainment Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral, including a deposit account control agreement with Citizens Bank in form and substance reasonably satisfactory to Agent pursuant to which Agent shall have the sole right, upon an Event of Default, to instruct such bank to sweep all funds deposited in such accounts to an account maintained by Agent;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Presstek Inc /De/)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for all collection accounts with financial institutions other than the collection Agent or servicing of as otherwise required by the Receivables and proceeds of the CollateralDocuments;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Robotic Vision Systems Inc)

Blocked Accounts. Agent shall have received duly executed ---------------- agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable in all respects to Agent for the collection or and servicing of the Receivables and other proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Eltrax Systems Inc)

Blocked Accounts. Administrative Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Controlled Accounts with financial institutions acceptable to Administrative Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Skullcandy, Inc.)

Blocked Accounts. Agent shall have received duly executed ---------------- agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and all other proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Styrochem International LTD)

Blocked Accounts. Agent shall have received duly executed ---------------- agreements establishing the Blocked Accounts or for Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 1 contract

Samples: Credit and Security Agreement (Pc Connection Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;.

Appears in 1 contract

Samples: Loan and Security Agreement (Lets Talk Cellular & Wireless Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Sypris Solutions Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral, subject to Section 4.15(h);

Appears in 1 contract

Samples: Revolving Credit, Term Loan, Guaranty and Security Agreement (Us Home & Garden Inc)

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Blocked Accounts. Administrative Agent shall have received the duly executed Blocked Account Agreements or other agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Administrative Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Imco Recycling Inc)

Blocked Accounts. Agent shall have received duly Duly executed agreements agreements, in form and substance satisfactory to Agent, establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables Accounts and proceeds of the Collateral;

Appears in 1 contract

Samples: Credit Agreement (Hampshire Group LTD)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral, and duly executed deposit account control agreements in form and substance satisfactory to Agent and relating to each account into which ABL Priority Collateral is or may be deposited;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (UniTek Global Services, Inc.)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the CollateralCollateral and such letters as shall be acceptable to Agent evidencing that all Blocked Accounts and Depository Accounts and all bank accounts which transmit funds to such Blocked Accounts or Depository Accounts will accept changes in instructions only from Agent;

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Danskin Inc)

Blocked Accounts. Agent shall have received duly executed ----------------- agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit Loan and Security Agreement (Intelligroup Inc)

Blocked Accounts. Agent shall have received duly ---------------- executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Radnor Holdings Corp)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts (as applicable) with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Emtec Inc/Nj)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Accounts and other Receivables and proceeds of the related Collateral;

Appears in 1 contract

Samples: Loan and Security Agreement (Winnebago Industries Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral, all of which shall be established with Agent or with financial institutions acceptable to Agent;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Zanett Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions reasonably acceptable to Agent for the collection or servicing of the Receivables which are not factored pursuant to the Factoring Agreement and proceeds of the Collateral;

Appears in 1 contract

Samples: Loan Agreement (Verrazano,inc.)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the CollateralFirst-Priority Collateral or, alternatively, Borrowers shall have established with Agent all of its bank accounts with Agent, all in a manner to the satisfaction of Agent in its sole discretion;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Maxum Petroleum Holdings, Inc.)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;; All of each Borrower’s account debtors shall have received directions to make remittances to such Blocked Accounts.

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Allied Motion Technologies Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral, and Agent shall have received evidence that all Customers have been directed to make all remittances to the lockbox associated with such Blocked Account;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Horizon Offshore Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for all collection accounts with financial institutions other than Agent or as otherwise required by the collection or servicing of the Receivables and proceeds of the CollateralDocuments;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (Robotic Vision Systems Inc)

Blocked Accounts. Agent shall have received duly executed ---------------- agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent the Bank for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit and Security Agreement (World Wrestling Federation Entertainment Inc)

Blocked Accounts. Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

Appears in 1 contract

Samples: Revolving Credit, Term Loan and Security Agreement (Swenson Granite Co LLC)

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