Collateral Account Agreements Sample Clauses

Collateral Account Agreements. Administrative Agent shall have received a fully executed Collateral Account Agreement in substantially the form of Exhibit 1.1(d) attached hereto (each together with such modifications thereto as may be agreeable to Administrative Agent, a “Collateral Account Agreement”) shall have been entered into with respect to each of the Deposit Accounts referenced in Schedule 6.21(f).
Sample 1Sample 2
AutoNDA by SimpleDocs
Collateral Account Agreements. No Borrower shall, nor shall it permit any Credit Party to, establish or utilize any domestic Deposit Account, unless a fully executed Collateral Account Agreement shall be in full force and effect with respect thereto, except with respect to one or more Deposit Accounts maintained at financial institutions with which no Collateral Account Agreement shall have previously been entered into with account balances of any such accounts not to at any time exceed $100,000 and the aggregate of all such accounts not at any time to exceed $500,000, except in the case of IRIC, with respect to insurance proceeds which may be disbursed and held in accordance with the procedures set forth on Schedule 8.17(a). Except as set forth on Schedule 8.17(b), at no time shall the Dollar Equivalent of the aggregate balances in all accounts maintained by the Borrowers and their Restricted Subsidiaries outside the USA exceed $500,000.
Sample 1
Collateral Account Agreements. Administrative Agent shall have received a fully executed Collateral Account Agreement in substantially the form of EXHIBIT 1.1(d) attached hereto (each together with such modifications thereto as may be agreeable to Administrative Agent, a "COLLATERAL ACCOUNT AGREEMENT") shall have been entered into with respect to each of the Deposit Accounts referenced in SCHEDULE 6.21(f).
Sample 1
Collateral Account Agreements. Borrower shall not, and shall not permit any Credit Party or IRIC to, establish or utilize any domestic Deposit Account, unless a fully executed Collateral Account Agreement shall be in full force and effect with respect thereto, except with respect to one or more Deposit Accounts maintained at financial institutions with which no Collateral Account Agreement shall have previously been entered into with account balances of any such accounts not to at any time exceed $100,000 and the aggregate of all such accounts not at any time to exceed $500,000, except in the case of IRIC, with respect to 90 insurance proceeds which may be disbursed and held in accordance with the procedures set forth on SCHEDULE 8.18(a). Except as set forth on SCHEDULE 8.18(b), at no time shall the Dollar Equivalent of the aggregate balances in all accounts maintained by Borrower and its Restricted Subsidiaries outside the USA exceed $500,000.
Sample 1
Collateral Account Agreements. Delivery to the Collateral Agent of (a) an executed US Collateral Account Agreement, dated on or before the Closing Date, duly executed and delivered by an Authorized Officer of each Loan Party, which shall be stamped and delivered to the government of Macau SAR in accordance with the requirements of the Gaming Sub-Concession Contract, (b) executed Macao Collateral Account Agreements, dated on or before the Closing Date, duly executed and delivered by an Authorized Officer of each Loan Party, which shall have been notarized, stamped and in appropriate form for filing with the government of Macau SAR, and (c) an executed Hong Kong Collateral Account Agreement, dated on or before the Closing Date, duly executed and delivered by an Authorized Officer of each Loan Party, which shall be stamped and delivered to the government of Macau SAR in accordance with the requirements of the Gaming Sub-Concession Contract, in each case in full force and effect granting the Collateral Agent a first priority security interest in the Accounts and the amounts from time to time on deposit therein. All actions necessary or desirable, including all filings, in the reasonable opinion of the Administrative Agent to create and, to the extent relevant under the applicable law governing each Collateral Account Agreement, perfect the security interests granted therein as a valid security interest over the Accounts having the priority contemplated therefor by this Agreement, and the Collateral Account Agreements shall have been completed;
Sample 1
Collateral Account Agreements. (a) As more particularly described in (and subject to the provisions of) the US Collateral Account Agreement, (i) the Sales Deposit Account shall be a “securities account” within the meaning of the New York Uniform Commercial Code established in the name of Cotai Subsidiary; (ii) each other Account located in New York (including, without limitation, the Term Loans Disbursement Account and each Term Loans Disbursement Sub-Account, the Company Equity Account, the Supplemental Equity Contribution Account and the Interest Escrow Account) shall be a “securities account” within the meaning of the New York Uniform Commercial Code established in the name of the Borrower; (iii) the Borrower or Cotai Subsidiary, as applicable, shall grant the Collateral Agent a valid, first priority, security interest over each such Account and each sub-account thereof (and all sums and securities deposited therein or credited thereto); (iv) the Financial Institution shall waive its right of set-off with respect to amounts held therein (unless and to the extent the Bank Agent agrees otherwise in its sole discretion); (v) the Financial Institution shall agree to follow the instructions of the Bank Agent and, subject to Section 2.4.2(b), the Disbursement Agent, with respect to withdrawals from each such Account and each sub-account thereof; and (vi) if the Disbursement Agent, the Collateral Agent or the Bank Agent shall have notified the Financial Institution in writing that an Event of Default has occurred or an Enforcement Notice has been issued, then until such notification shall have been rescinded in writing by the applicable party, the Financial Institution shall act only on instructions from the Collateral Agent and shall, if so instructed to, block further withdrawals from such Account. The Company shall take such further actions and execute such further documents in connection therewith as the Bank Agent, the Disbursement Agent or the Collateral Agent may reasonably request in order to create and, to the extent relevant under the applicable law, perfect or maintain the perfection or priority, to the greatest extent reasonably practicable, of the Lien of the Secured Parties in each such Account. (b) As more particularly described in (and subject to the provisions of) the Macau Collateral Account Agreement, (i) each Account located in Macau SAR shall be established in the name of the Borrower; (ii) the Borrower shall grant the Collateral Agent a valid, first priority, security ...
Sample 1
Collateral Account Agreements. The Disbursement Agent shall not amend or modify any of the Collateral Account Agreements unless it has been instructed to do so by the Collateral Agent (acting pursuant to the Collateral Agency Agreement).
Sample 1
AutoNDA by SimpleDocs
Collateral Account Agreements. Delivery to the Collateral Agent of (a) an executed US Collateral Account Agreement, dated on or before the Initial Borrowing Date, duly executed and delivered by an Authorized Officer of each Loan Party, which shall be stamped and, as and to the extent required by the Gaming Sub-Concession Contract, delivered to the government of Macau SAR, (b) executed Macao Collateral Account Agreements, dated on or before the Initial Borrowing Date, duly executed and delivered by an Authorized Officer of each Loan Party, which shall have been notarized and stamped, and (c) an executed Hong Kong Collateral Account Agreement, dated on or before the Initial Borrowing Date, duly executed and delivered by an Authorized Officer of each Loan Party, which shall be stamped, in each case in full force and effect granting the Collateral Agent a first priority security interest in the Accounts and the amounts from time to time on deposit therein. All actions necessary or desirable, including all filings, in the reasonable opinion of the Administrative Agent to create and, to the extent relevant under the applicable law governing each Collateral Account Agreement, perfect the security interests granted therein as a valid security interest over the Accounts having the priority contemplated therefor by this Agreement, and the Collateral Account Agreements shall have been completed;
Sample 1

Related to Collateral Account Agreements

  • Collateral Accounts The Borrower agrees and confirms that (a) pursuant to the Collateral Agency Agreement, it has caused to be established at the Collateral Agent each of the Construction Account, Construction Payment Subaccount, Punchlist Retention Subaccount, the Operating Account, the Debt Service Reserve Account, the Debt Service Accrual Account, the Insurance Proceeds Account, the Income Tax Reserve Account, the Distribution Account and the Revenue Account, in each case in the name of the Collateral Agent and (b) it has instructed (or, on or before the effectiveness of each Project Document that is entered into after the date hereof, will instruct) each of the other parties to the Project Documents that all payments constituting Project Revenues due or to become due to the Borrower under or in connection with each such Project Document shall be made directly to the Collateral Agent for deposit to the Revenue Account in accordance with the terms of the Collateral Agency Agreement. If, notwithstanding the foregoing, any such payment or proceeds are remitted directly to the Borrower, the Borrower shall hold such funds in trust for the Collateral Agent and shall promptly remit such payments for deposit to the Revenue Account in accordance with the Collateral Agency Agreement. In addition to the foregoing, the Borrower agrees that if the proceeds of any Collateral hereunder (including the payments made in respect of the Collateral Accounts) shall be received by it, the Borrower shall as promptly as possible transfer such Proceeds to the Collateral Agent for deposit to the Reserve Account. Until so deposited, all such proceeds shall be held in trust by the Borrower for and as the property of the Collateral Agent and shall not be commingled with any other funds or property of the Borrower.

  • Account Agreement Lender shall have received the original of the Account Agreement executed by each of Cash Management Bank and Borrower.

  • Deposit Account Control Agreements the Deposit Account control agreements to be executed by each institution maintaining a Deposit Account for an Obligor, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations.

  • Collateral Account (a) The Collateral Agent is hereby authorized to establish and maintain at its office at 000 Xxxxxxxxxx Xxxxxxxxx, Xxxxxxxx, Xxxxxxxxxxx 00000, in the name of the Collateral Agent and pursuant to a Control Agreement (to the extent requested), a restricted deposit account designated “Collateral Account”. Each Credit Party shall deposit into the Collateral Account from time to time (i) the cash proceeds of any of the Collateral (including pursuant to any disposition thereof) to the extent contemplated herein or in any other Loan Document, (ii) the cash proceeds of any Casualty Event with respect to Collateral to the extent contemplated herein or in any other Loan Document, and (iii) any cash such Credit Party is required to pledge as additional collateral security hereunder pursuant to the Loan Documents. (b) The balance from time to time in the Collateral Account shall constitute part of the Collateral and shall not constitute payment of the Obligations until applied as hereinafter provided. So long as no Event of Default has occurred and is continuing or will result therefrom, the Collateral Agent shall, within one Business Day’s of receiving a request of the applicable Credit Party for release of cash proceeds constituting (i) Net Cash Proceeds from the Collateral Account, remit such cash proceeds on deposit in the Collateral Account to or upon the order of such Credit Party, so long as such Credit Party has satisfied the conditions relating thereto set forth in Section 9.02, (ii) Net Cash Proceeds from any sale or other disposition of Collateral from the Collateral Account, remit such cash proceeds on deposit in the Collateral Account, so long as such Credit Party has satisfied the conditions relating thereto set forth in Section 9.02 and (iii) with respect to the LC Sub-Account at such time as all Letters of Credit shall have been terminated and all of the liabilities in respect of the Letters of Credit have been paid in full. At any time following the occurrence and during the continuance of an Event of Default, the Collateral Agent may (and, if instructed by the Required Lenders as specified herein, shall) in its (or their) discretion apply and provide notice to Borrower of such application or cause to be applied (subject to collection) the balance from time to time outstanding to the credit of the Collateral Account to the payment of the Obligations in the manner specified in Section 9.03 hereof, subject, however, in the case of amounts deposited in the LC Sub-Account, to the provisions of Sections 2.18(j) and 9.03. The Credit Parties shall have no right to withdraw, transfer or otherwise receive any funds deposited in the Collateral Account except to the extent specifically provided herein. (c) Amounts on deposit in the Collateral Account shall be invested from time to time in Cash Equivalents as the applicable Credit Party (or, after the occurrence and during the continuance of an Event of Default, the Collateral Agent) shall determine, which Cash Equivalents shall be held in the name and be under the control of the Collateral Agent (or any sub-agent); provided that at any time after the occurrence and during the continuance of an Event of Default, the Collateral Agent may (and, if instructed by the Required Lenders as specified herein, shall) in its (or their) discretion at any time and from time to time elect to liquidate any such Cash Equivalents and to apply or cause to be applied the proceeds thereof to the payment of the Obligations in the manner specified in Section 9.03 hereof. (d) Amounts deposited into the Collateral Account as cover for liabilities in respect of Letters of Credit under any provision of this Agreement requiring such cover shall be held by the Collateral Agent in a separate sub-account designated as the “LC Sub-Account” (the “LC Sub-Account”).

  • Deposit Account Control Agreement control agreement satisfactory to Agent executed by an institution maintaining a Deposit Account for an Obligor, to perfect Agent’s Lien on such account.

  • Collateral Account and Security Interest At any time when Fund’s assets are below $15 million, the Advisor, for value received, hereby pledges, assigns, sets over and grants to the Trust a continuing security interest in and to an account to be established and maintained by the Advisor with the Securities Intermediary and designated as a collateral account (the “Collateral Account”), including any replacement account established with any successor, together with all dividends, interest, stock-splits, distributions, profits and all cash and non-cash proceeds thereof and any and all other rights as may now or hereafter derive or accrue therefrom (collectively, the “Collateral”) to secure the payment of any required Fund Reimbursement Payment or Liquidation Expenses (as defined in Paragraph 5 of this Agreement). For so long as this Agreement is in effect, any transfers or conveyances of Collateral to any party shall require the approval of the Board of Trustees of the Trust (the “Board”), except as specified in Section 7(a)(ii) of this Agreement, below. In addition, the Trust will not issue entitlement orders, redeem or otherwise take any action with respect to the Collateral or Collateral Account unless a Collateral Event (defined below under Section 5 of this Agreement) has occurred or is continuing.

  • 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;

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

  • Control Agreements Borrower agrees that it will not transfer assets out of any Securities Accounts other than as permitted under Section 7.19 and, if to another securities intermediary, unless each of Borrower, Lender, and the substitute securities intermediary have entered into a Control Agreement. No arrangement contemplated hereby or by any Control Agreement in respect of any Securities Accounts or other Investment Property shall be modified by Borrower without the prior written consent of Lender. Upon the occurrence and during the continuance of a Default or Event of Default, Lender may notify any securities intermediary to liquidate the applicable Securities Account or any related Investment Property maintained or held thereby and remit the proceeds thereof to the Lender's Account.

  • Account Control Agreements Account Control Agreements for all of Borrower’s deposit accounts and accounts holding securities duly executed by all of the parties thereto, in the forms provided by or reasonably acceptable to Lender.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!