Canada Control Agreement Sample Clauses

Canada Control Agreement. On or prior to the date that is sixty (60) days after the Closing Date, Canada Borrower shall enter into, and deliver to the Administrative Agent, a Canada Control Agreement with HSBC Bank Canada (or another Acceptable Bank in accordance with Section 5.14(c)) with respect to the Deposit Account of Canada Borrower held with HSBC Bank Canada. If Canada Borrower fails to comply with the first sentence of this Section 5.17, Canada Borrower shall immediately transfer such Deposit Account from HSBC Bank Canada to an Acceptable Bank that is not HSBC Bank Canada and shall promptly enter into, and deliver to the Administrative Agent a Canada Control Agreement. Until Canada Borrower delivers to Administrative Agent the Canada Control Agreement pursuant to this Section 5.17, Canada Borrower (or any Person acting on behalf of Canada Borrower) shall not give instructions to HSBC Bank Canada (or, if applicable, another Acceptable Bank) with respect to such Deposit Account without prior written consent of the Collateral Agent (acting at the direction of the Required Lenders) with the exception of Permitted Instructions.