Collateral Control Account Clause Samples
Collateral Control Account. Lender may, on occasion, agree to permit Borrower to maintain a Deposit Account in addition to the Collateral Account (the "Collateral Control Account"), provided (a) Lender has received a control agreement in form and substance acceptable to Lender, which is fully executed by the financial institution where such account is located; and (b) such account is a blocked account to which only Lender may have access. A description of said Collateral Control Account is set forth in EXHIBIT A hereto.
Collateral Control Account. Bank may, on occasion, agree to permit Borrower to maintain a deposit account in addition to the Lockbox Account, provided Bank (a) has been notified thereof by Borrower and Bank has given written notice of Bank's security interest therein to the financial institution where such account is located; and (b) such account is a blocked account to which only Bank may have access.