CML'S DEPOSITORY ARRANGEMENTS Sample Clauses

CML'S DEPOSITORY ARRANGEMENTS. CML will (i) on or prior to the Original Closing Date, maintain a depository concentration account (CML's "Concentration Account") with and under the control of the Administrative Agent, as contemplated by the terms of this Credit Agreement, (ii) direct each Agency Account Institution pursuant to the Agency Account Agreements (whereby such Agency Account Institution shall, among other things, waive any right of set off, other than for service charges and returns incurred in connection therewith), to cause all funds held by such Agency Account Institution in the Agency Accounts to be transferred daily (or such other period as the Administrative Agent requests) to, and only to, the Administrative Agent for deposit in such Borrower's Concentration Account, (iii) direct its account debtors and obligors on instruments or other obligors of CML with respect to any of the Collateral to make all payments on or with respect to any of the Collateral due or to become due to CML directly to CML's Concentration Account or the Agency Accounts and (iv) cause any and all tax refunds received by CML to be immediately deposited into CML's Concentration Account. If, notwithstanding the requirements of the foregoing sentence, CML receives any cash proceeds of any of the Collateral, whether in the form of money, checks or otherwise, CML will hold such cash proceeds in trust for the benefit of the Administrative Agent and the Lenders and turn such cash proceeds promptly over to the Administrative Agent in the identical form received by deposit to any Agency Account or Concentration Account. The Administrative Agent shall, (i) with respect to all funds and cash proceeds in the form of money, checks and like items received in CML's Concentration Account, on the same Business Day on which the Administrative Agent determines that good collected funds have been received, and prior to the final collection of good collected funds, on a provisional basis until such final collection, (ii) with respect to all funds and cash proceeds in the form of a wire transfer received in CML's Concentration Account, on the same Business Day as the Administrative Agent's receipt of such amounts (or such later date as the Administrative Agent determines that good collected funds have been received), and (iii) with respect to all funds and cash proceeds in the form of an automated clearing house transfer received in CML's Concentration Account, on the next Business Day following the Administrative Agent'...