Collection Deposit Accounts. As promptly as practicable and in any event prior to September 30, 2002 and at all times thereafter, the Borrower shall maintain Collection Deposit Letter Agreements for Collection Deposit Accounts representing the collections of Stores which account for no less than 80% of Consolidated EBITDA for the fiscal year most recently ended. The Borrower will use its reasonable best efforts to enter into and maintain Collection Deposit Agreements for all other Collection Deposit Accounts.
Collection Deposit Accounts. (a) From and after the Effective Date, each Grantor agrees to deposit all Daily Receipts into the Collection Deposit Accounts on a daily basis.
Collection Deposit Accounts. (a) If requested by the Agent at any time, the Assignor shall establish and shall maintain one or more Collection Deposit Accounts with the Agent or with any financial institution that (i) is satisfactory to the Agent and (ii) enters into the Lockbox Agreement. The provisions of this Article V shall apply only from and after the date (the "Collection Deposit Account Activation Date") which is the earlier of (x) the date of such request or the date of any Default or Event of Default.
Collection Deposit Accounts. (a) At any time that an Event of Default has occurred and is continuing, upon the written request of the Collateral Agent, each Grantor agrees to establish and maintain one or more Collection Deposit Accounts with the Collateral Agent or with any financial institution that is satisfactory to the Collateral Agent and enters into a Lockbox Agreement.
Collection Deposit Accounts. (a) On and after the Closing Date, each Grantor agrees to establish and maintain one or more Collection Deposit Accounts with the Collateral Agent or with any financial institution that (i) is satisfactory to the Collateral Agent and (ii) enters into a Lockbox Agreement.
Collection Deposit Accounts. (a) Each Operating Grantor agrees to enter into and maintain Collection Deposit Letter Agreements for Collection Deposit Accounts representing collections for stores comprising at least 75% of consolidated revenues for the Fiscal Year most recently ended. To the extent that on any Business Day it has established a Collection Deposit Account which is reasonably convenient for the deposit of the Daily Receipts from each location at which it conducts business, each Operating Grantor shall deposit such Daily Receipts in such Collection Deposit Account on a daily basis.
Collection Deposit Accounts. As promptly as ---------------------------- practicable and in any event within 90 days after the Effective Date, the Borrower shall enter into Collection Deposit Letter Agreements for each Collection Deposit Account.
Collection Deposit Accounts. (a) On and after the Effective Date, the Grantors shall establish and maintain one or more Collection Deposit Accounts with the Collateral Agent. Any such Collection Deposit Account shall be designated with the title "Chemical Bank, as Collateral Agent for certain lenders pursuant to the Amended and Restated Credit Agreement dated as of August 16, 1988, as amended and restated as of April , 1996, among Chemical Bank, Northwestern Steel and Wire Company, an Illinois corporation, Northwestern Steel and Wire Company, a Texas corporation, and certain other parties". In addition, any Grantor may establish and maintain one or more Collection Deposit Accounts with any other financial institution that (i) is satisfactory to the Collateral Agent and (ii) enters into a Lockbox Agreement.
Collection Deposit Accounts. 18 7.2 Collections..................................................... 19 7.3
Collection Deposit Accounts. (a) On or before the Closing Date, each Grantor shall establish and agree to maintain thereafter sufficient Collection Deposit Accounts (which Collection Deposit Accounts as of the Closing Date are identified as such on Schedule 6) to enable it to deposit substantially all of its Daily Receipts into Collection Deposit Accounts. The Administrative Agent shall have sole access to the Collection Deposit Accounts at all times and each Grantor shall take all actions necessary to grant the Administrative Agent such sole access. At no time shall any Grantor remove any item from a Collection Deposit Account without the Administrative Agent's prior written consent.
