Control Agreement with Account Bank Sample Clauses

Control Agreement with Account Bank. (a) On the date of this Agreement, the Assignor shall deliver the Control Agreement signed by it substantially in the form of Schedule 1 (Form of Control Agreement with Account Bank) hereto to the Agent for countersignature and the Assignor shall upon receipt of the Control Agreement countersigned by the Agent immediately, and within two Business Days at the latest, forward such Control Agreement to the Account Bank for countersignature. Without limitation to the foregoing, the Agent shall be entitled to notify the Account Bank of this Assignment and the Security created hereby at any time without the participation of the Assignor and in a form it deems appropriate. (b) Within twenty Business Days after delivery of the Control Agreement to the Account Bank, the Assignor shall provide the Agent with a copy of the Control Agreement duly countersigned by the Account Bank. If, after the end of such twenty Business Day period, the Assignor has not been able to obtain a copy of the Control Agreement duly countersigned by the Account Bank, the Assignor shall, within a further twenty Business Days, (i) change its banking relationship in respect of the Bank Account to another suitable financial institution and (ii) provide the Agent with a copy of the Control Agreement, or another account control agreement acceptable to the Assignor, the Assignee and the new Account Bank, duly countersigned by such new Account Bank.
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Related to Control Agreement with Account Bank

  • 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 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.

  • 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.

  • 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.

  • Account Agreement Lender shall have received the original of the Account Agreement executed by each of Cash Management Bank and Borrower.

  • Change of Control Agreement Except as expressly amended herein, all of the terms and provisions of the Change of Control Agreement shall remain in full force and effect.

  • 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;

  • Change in Control Agreement An Agreement Regarding Change in Control in effect between the Company (or the Surviving Entity) and the Employee, if any.

  • Lockbox The Secured Party may, by notice to the Debtor, require the Debtor to direct each of its account debtors to make payments due under the relevant account or chattel paper directly to a special lockbox to be under the control of the Secured Party. The Debtor hereby authorizes and directs the Secured Party to deposit all checks, drafts and cash payments received in said lockbox into the collateral account established as set forth above.

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