Collateral Concentration Account. (a) After the occurrence and during the continuance of an Event of Default, the Administrative Agent shall have the right, upon written notice to the Borrower, to establish the Collateral Concentration Account pursuant to which, among other things, the Administrative Agent shall have sole dominion and control over all funds held to the credit of, and all disbursements from, the Collateral Concentration Account.
Appears in 9 contracts
Samples: Pledge and Security Agreement (Kona Grill Inc), Pledge and Security Agreement (Preferred Apartment Communities Inc), Pledge and Security Agreement (Preferred Apartment Communities Inc)
Collateral Concentration Account. (a) After the occurrence and during the continuance of an Event of Default, the Administrative Agent shall have the right, upon prior written notice to the Borrower, to establish the Collateral Concentration Account pursuant to which, among other things, the Administrative Agent shall have sole dominion and control over all funds held to the credit of, and all disbursements from, the Collateral Concentration Account.
Appears in 2 contracts
Samples: Pledge and Security Agreement (Eastern Co), Pledge and Security Agreement (Eastern Co)
Collateral Concentration Account. (a) After the occurrence and during the continuance of an Event of Default, the Administrative Collateral Agent shall have the right, upon written notice to the BorrowerCompany, to establish the Collateral Concentration Account pursuant to which, among other things, the Administrative Collateral Agent shall have sole dominion and control over all funds held to the credit of, and all disbursements from, the Collateral Concentration Account.
Appears in 1 contract
Samples: Pledge and Security Agreement (American Greetings Corp)
Collateral Concentration Account. (a) After During the occurrence and during the continuance continuation of an Event of Defaulta Cash Dominion Event, the Administrative Agent shall have the right, upon written notice to the Borrower, to establish the Collateral Concentration Account pursuant to which, among other things, the Administrative Agent shall have sole dominion and control over all funds held to the credit of, and all disbursements from, the Collateral Concentration Account.
Appears in 1 contract
