Control over Deposit Accounts Sample Clauses

Control over Deposit Accounts. Except as set forth in the last sentence of Section 13(b)(iii), all Deposit Accounts of the Grantors that are maintained at Secured Party (including, without limitation, the New Concentration Accounts but excluding any Governmental Health Receivable Collection Accounts) shall be under the sole dominion and control of Secured Party, and Grantors shall have no access to or any right to draw upon or withdraw any funds from any such Deposit Accounts without the prior consent of Secured Party in each instance. In the event of any conflict between the terms of any agreement between a Grantor and Secured Party establishing a Deposit Account and the terms of this Agreement, this Agreement shall govern. The consent of the Secured Party given in one or more instances shall not be deemed a waiver of any of the provisions hereof. Notwithstanding the foregoing, Secured Party and Lenders hereby consent to withdrawals or transfers from the New Concentration Accounts of any Grantor to fund due and payable costs payable in the ordinary course of business or other uses permitted by the Financing Documents; provided that -------- Secured Party may at any time, without notice, revoke the consent of the Secured Party and Lenders to withdrawals or transfers from such Deposit Accounts if any Event of Default shall have occurred and be continuing or would result from the withdrawal or transfer from such account or the application of the funds so withdrawn or transferred. All funds in the Deposit Accounts in name of any Grantor are the property of such Grantor. All Deposit Accounts and all funds therein constitute Collateral hereunder and are subject to the security interest created herein in favor of the Secured Party for the benefit of the Secured Parties.
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Control over Deposit Accounts. So long as no Event of Default shall have occurred and be continuing, each Grantor may make withdrawals, payments, transfers or other dispositions of funds from, and give other instructions concerning, its Deposit Accounts. Upon the occurrence and during the continuation of any Event of Default, no Grantor shall have any right or ability to, and no Grantor shall, access or withdraw or otherwise transfer funds from any of its Deposit Accounts, and the Collateral Agent shall have the sole right to make withdrawals, payments transfers and other dispositions of funds in any such Deposit Account without the need for any further act or consent by any Grantor, all as more particularly described in each Deposit Account Control Agreement.
Sample 1
Control over Deposit Accounts. Such control agreements with respect to Deposit Accounts as shall be required by the Administrative Agent, duly executed by the applicable Borrower and the depositary institution where each such Deposit Account is maintained.
Sample 1

Related to Control over Deposit Accounts

  • Deposit Account If you are issued a secured Card, you have signed or will be required to sign a separate security agreement pledging a specific, non-withdrawable portion of your shares and/or deposits in BECU to secure your Card. The amount of the security for such a Card is the amount of your credit limit and you may not have any access to or control of that amount.

  • 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.

  • 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:

  • Collateral Accounts The Borrower agrees and confirms that (a) pursuant to the Collateral Agency Agreement, it has caused to be established at the Collateral Agent each of the Construction Account, Construction Payment Subaccount, Punchlist Retention Subaccount, the Operating Account, the Debt Service Reserve Account, the Debt Service Accrual Account, the Insurance Proceeds Account, the Income Tax Reserve Account, the Distribution Account and the Revenue Account, in each case in the name of the Collateral Agent and (b) it has instructed (or, on or before the effectiveness of each Project Document that is entered into after the date hereof, will instruct) each of the other parties to the Project Documents that all payments constituting Project Revenues due or to become due to the Borrower under or in connection with each such Project Document shall be made directly to the Collateral Agent for deposit to the Revenue Account in accordance with the terms of the Collateral Agency Agreement. If, notwithstanding the foregoing, any such payment or proceeds are remitted directly to the Borrower, the Borrower shall hold such funds in trust for the Collateral Agent and shall promptly remit such payments for deposit to the Revenue Account in accordance with the Collateral Agency Agreement. In addition to the foregoing, the Borrower agrees that if the proceeds of any Collateral hereunder (including the payments made in respect of the Collateral Accounts) shall be received by it, the Borrower shall as promptly as possible transfer such Proceeds to the Collateral Agent for deposit to the Reserve Account. Until so deposited, all such proceeds shall be held in trust by the Borrower for and as the property of the Collateral Agent and shall not be commingled with any other funds or property of the Borrower.

  • Lien on Deposit Accounts Cash Collateral 7.2.1. Deposit Accounts. Xxxxxx’s Lien encumbers all amounts credited to any Deposit Account of an Obligor (other than Excluded Deposit Accounts), including sums in any blocked, lockbox, sweep or collection account. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Lender, upon request, all balances in any Deposit Account (other than Excluded Deposit Accounts) maintained for such Obligor, without inquiry into the authority or right of Lender to make such request.

  • 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 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.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

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