Controlled Securities Account. Each Grantor shall deposit all of its Cash Equivalents, if any, in securities accounts that are Controlled Securities Accounts except for Cash Equivalents the aggregate value of which does not exceed $250,000 at any time.
Controlled Securities Account. Each Grantor shall deposit all of its Cash Equivalents in securities accounts that are Controlled Securities Accounts.
Controlled Securities Account. Each Grantor shall, to the extent required by Section 4.11 of the Credit Agreement, deposit all of its Cash Equivalents in securities accounts that are Controlled Securities Accounts in accordance with Section 4.11 of the Credit Agreement.
Controlled Securities Account any Securities Account of an Obligor that at any time has a balance in excess of $250,000 or (ii) any two or more Securities Accounts that at any time have an aggregate balance in excess of $500,000, in each case other than any Securities Account to the extent it holds only the cash and Cash Equivalents described in Section 6.1(o)(iii) or cash collateral posted on the Closing Date with US Bank in connection with letters of credit in existence on the Closing Date.
Controlled Securities Account. From and after the Restatement Date, each Grantor shall deposit all of its Cash Equivalents in securities accounts that are Controlled Securities Accounts except zero-balance, payroll, withholding and trust accounts and xxxxx cash accounts containing amounts not to exceed $2,500,000.
Controlled Securities Account. Upon the Administrative Agent’s request, each Grantor shall deposit all of its Cash Equivalents in securities accounts that are Controlled Securities Accounts; provided, however, that the Administrative Agent agrees not to exercise any such rights under any Account Control Agreement unless an Event of Default has occurred and is continuing.
Controlled Securities Account. Each Grantor shall deposit all of its Cash Equivalents in securities accounts that are Controlled Securities Accounts or deliver such Cash Equivalents to Agent pursuant to Section 5.3. So long as no Event of Default has occurred and is continuing and no Loans are outstanding, upon the request of such Grantor the Agent shall promptly return any Cash Equivalents delivered to it hereunder to such Grantor to be used for any purpose permitted under the Loan Documents. GUARANTY AND SECURITY AGREEMENT AKORN, INC. 18
Controlled Securities Account. Each Grantor shall deposit all of its Cash Equivalents, if any, in securities accounts that are Controlled Securities Accounts except for Cash Equivalents the aggregate value of which does at any time not exceed $250,000 individually and $700,000 in the aggregate. Each such Controlled Securities Account shall either (i) specify that the Province of Ontario is the securities intermediary’s jurisdiction for the purposes of the Securities Transfer Act, 2006 (Ontario) (“STA”); or (ii) express to be governed by the laws of the Province of Ontario. The term “securities intermediary” has the meaning given to it in the STA.
