Control Account Agreements Sample Clauses

Control Account Agreements. Deposit all cash held or received by it (other than the proceeds of the Term Loans, which shall be deposited in the DIP Proceeds Controlled Account) into any account held by TLC Management, which is subject to a Control Account Agreement pursuant to which the Agents are granted a first priority security interest in respect of such cash, in form and substance satisfactory to the Administrative Agent and the Required Lenders, duly executed by the financial institution at which such account is maintained. So long as no Default or Event of Default has occurred and is continuing, the Borrowers may withdraw amounts from such account to make payments consistent with the Budget.
Sample 1
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Control Account Agreements. Permit the aggregate amount of cash maintained by any Loan Party at any financial institution at any time to exceed $5,000 for more than one Business Day unless such Loan Party has (i) executed and delivered to the Agents a Control Account Agreement, in form and substance reasonably satisfactory to the Required Lenders and executed by such financial institution, and (ii) taken all other steps necessary or, in the opinion of the Collateral Agent, desirable to ensure that the Collateral Agent has a perfected first priority security interest in such cash (subject to the Carve Out and Liens permitted to be equal or superior in priority pursuant to this Agreement); provided, that if such Loan Party is unable to obtain such agreement from such financial institution, such Loan Party shall promptly transfer all cash maintained at such financial institution to a financial institution from which such Loan Party has obtained such an agreement.
Sample 1
Control Account Agreements. Each applicable Credit Party shall deliver to Collateral Agent fully executed Control Account Agreements (as defined in the Pledge and Security Agreement) for the accounts listed on Schedule 3.6 to the Pledge and Security Disclosure Letter and that are identified as Securities Accounts that will be pledged. Each such action described above shall be completed within 45 days following the Closing Date (or such longer period as the Collateral Agent may agree in its sole discretion).
Sample 1
Control Account Agreements. Within seven (7) days after the Effective Date of this Agreement, the Borrower shall enter into control account agreements in form and substance satisfactory to Lender in its sole discretion, with a financial institution acceptable to Lender, in its sole discretion, that grant control to Lender over all of Borrower's and DJS' operating accounts in connection with an Event of Default pursuant to Section 10.1 (Failure to Pay), Section 10.4 (False Information), Section 10.6 (Receivers) or Section 10.9 (Judgments) of the Loan Agreement.
Sample 1
Control Account Agreements. (a) On or before May 16, 2003, Borrower shall have delivered to Agent an executed Control Account Agreement between Borrowers, Agent and Greater Community Bank governing any and all of Borrower's bank or other depository accounts with such bank, in form and substance satisfactory to Agent in its Permitted Discretion. (b) On or before June 2, 2003, Borrower shall have either (i) provided to Agent satisfactory evidence (in Agent's Permitted Discretion) that any and all of Borrower's bank or other depository accounts with Wachovia Bank, National Association, First Union National Bank, or any predecessor, successor or other Affiliate of any of the foregoing, have been closed, or (ii) delivered to Agent an executed Control Account Agreement between Borrowers, Agent and Wachovia Bank governing any and all of Borrower's bank or other depository accounts with such bank, in form and substance satisfactory to Agent in its Permitted Discretion.
Sample 1
Control Account Agreements. Permit the aggregate amount of cash maintained by Parent and its Subsidiaries at any financial institution at any time to exceed $5,000 for more than one Business Day unless Parent or such Subsidiary, as the case may be, has (i) executed and delivered to the Administrative Agent an agreement, satisfactory in form and substance to the Administrative Agent and executed by a financial institution, (ii) and taken all other steps necessary or, in the opinion of the Administrative Agent, desirable to ensure that the Administrative Agent has a perfected security interest in such cash; provided, that if Parent or such Subsidiary is unable to obtain such agreement from such financial institution, Parent shall, or shall cause such Subsidiary to, promptly transfer all cash maintained at such financial institution to a financial institution from which Parent or such Subsidiary has obtained such an agreement; provided, further, that this subsection (o) shall not apply to local operating accounts of a Loan Party, maintained at a financial institution in which all funds therein are transferred at least weekly into an account subject to this subsection (o); provided, further, that with respect to Subsidiaries of Parent that are not wholly-owned Subsidiaries, this subsection (o) shall not apply to cash maintained at financial institutions by such entities that does not exceed an aggregate of (1) $10,000,000 at any time on or prior to the first anniversary of this Agreement, (2) $12,000,000 at any time after the first anniversary of this Agreement and prior to the second anniversary of this Agreement and (3) $15,000,000 thereafter.
Sample 1
Control Account Agreements. No later than thirty (30) days after the Effective Date or such later date as may be consented to by the Administrative Agent, the Administrative Agent shall have received Control Account Agreements from (i) all securities intermediaries with respect to all Securities Accounts and securities entitlements of each Loan Party, and (ii) except with respect to the futures commission agents and clearing houses set forth in Schedule 7.17, all futures commission agents and clearing houses with respect to all commodities contracts and commodities accounts held by each Loan Party.
Sample 1
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Control Account Agreements. Within thirty (30) days after execution of this Agreement (a) Borrower, DJS Processing and each Guarantor shall enter into control account agreements acceptable to Lender that grant control to Lender over all of their operating accounts in connection with the occurrence of a Termination Event and (b) Law Office shall enter into control account agreements acceptable to Lender that grant control to Lender over all of Law Office's operating accounts in connection with the occurrence of a Termination Event. Borrower and DJS Processing shall not, and shall cause Guarantor not to, open and/or maintain any deposit accounts other than the Existing Bank Accounts.
Sample 1
Control Account Agreements. Borrower and DJS Processing shall enter into control account agreements in the form set forth on Exhibit A attached hereto that grant control to Lender over all of their operating accounts in connection with the occurrence of a Termination Event. Borrower and Law Office shall enter into control account agreements in favor of Lender in the form set forth on Exhibit B attached hereto that grant control to Lender over all of Law Office's operating accounts in connection with the occurrence of a Termination Event. Borrower and DJS Processing shall not, and shall cause Guarantor not to, open and/or maintain any deposit accounts other than the Existing Bank Accounts.
Sample 1

Related to Control Account Agreements

  • 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.

  • 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.

  • 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.

  • Control Agreement A control agreement (the “Custodian Control Agreement”), duly executed and delivered by the Borrower, the Administrative Agent and State Street Bank and Trust Company.

  • 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.

  • 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 Account Transactions (a) The Bank or its Subcustodians will make payments from the Deposit Account upon receipt of Instructions which include all information required by the Bank. (b) In the event that any payment to be made under this Section 5 exceeds the funds available in the Deposit Account, the Bank, in its discretion, may advance the Customer such excess amount which shall be deemed a loan payable on demand, bearing interest at the rate customarily charged by the Bank on similar loans. (c) If the Bank credits the Deposit Account on a payable date, or at any time prior to actual collection and reconciliation to the Deposit Account, with interest, dividends, redemptions or any other amount due, the Customer will promptly return any such amount upon oral or written notification: (i) that such amount has not been received in the ordinary course of business or (ii) that such amount was incorrectly credited. If the Customer does not promptly return any amount upon such notification, the Bank shall be entitled, upon oral or written notification to the Customer, to reverse such credit by debiting the Deposit Account for the amount previously credited. The Bank or its Subcustodian shall have no duty or obligation to institute legal proceedings, file a claim or a proof of claim in any insolvency proceeding or take any other action with respect to the collection of such amount, but may act for the Customer upon Instructions after consultation with the Customer.

  • Deposit Accounts; Securities Accounts The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.

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