Control Account Releases Sample Clauses

Control Account Releases. Notwithstanding anything in the Investor Note to the contrary, during the Interim Period no Control Account Release Event shall be deemed to have occurred, except as follows: (i) the Company’s receipt of a written notice by the Investor electing to permit a release of cash with respect to any Restricted Principal to the Company; (ii) with respect to any Conversion Notice for an Alternate Optional Conversion during the Interim Period, the Company’s receipt of both (A) such Conversion Notice hereunder executed by the Investor electing to effect an Alternate Optional Conversion with respect to a Conversion Amount of the Investor Note specified in such Conversion Notice (each, an “Alternate Optional Conversion Amount”) and (B) written confirmation by the Investor that the shares of Common Stock issued pursuant to such Conversion Notice have been properly delivered in accordance with Section 3(c) (in each case, as adjusted, if applicable, to reflect the withdrawal of any Conversion Notice, in whole or in part, by the Investor, whether pursuant to Section 3(c)(ii) of the Investor Note or otherwise); provided, that the Control Account Release Amount with respect thereto shall equal ______% of the applicable Alternate Optional Conversion Amount; and (iii) on July 25, 2016 with respect to $_______ of Control Account Release Amount, as reduced by 50% of any Control Account Release Amount actually released by the Investor from the Holder Master Restricted Account during the Interim Period pursuant to Section 2(c)(ii) above), provided that no Equity Conditions Failure (excluding any Price Failure, Volume Failure, or Authorized Share Failure) then exists on such date. In addition, the provision of material nonpublic information by the Company to Investor in connection with the negotiation and execution of this Agreement shall not deemed to be an Equity Conditions Failure, subject to the Company’s compliance with Section 5 of this Agreement.
Sample 1
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Related to Control Account Releases

  • Control Account The Agent shall open and maintain on its books a control account in the name of the Borrower showing the advance of the Loan and the computation and payment of interest and all other sums due under this Agreement. The Borrower’s obligations to repay the Loan and to pay interest and all other sums due under this Agreement shall be evidenced by the entries from time to time made in the control account opened and maintained under this Clause 17.7 and those entries will, in the absence of manifest error, be conclusive and binding.

  • 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.

  • 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.

  • Deposit Accounts, Securities Accounts and Commodity Accounts Attached hereto as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity Accounts (each as defined in the Security Agreement) maintained by each Company, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each 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.

  • 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.

  • 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.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

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