Common use of Covenant Regarding New Deposit Accounts; Lock Boxes Clause in Contracts

Covenant Regarding New Deposit Accounts; Lock Boxes. Before opening or replacing any Collateral Deposit Account or other Deposit Account (other than an Excluded Account), or establishing a new Lock Box, each Grantor shall cause each bank or financial institution in which it seeks to open (i) a Deposit Account, to enter into a Deposit Account Control Agreement with the Administrative Agent in order to give the Administrative Agent Control of such Deposit Account, or (ii) a Lock Box, to enter into a Lock Box Agreement with the Administrative Agent in order to give the Administrative Agent Control of the Lock Box. In the case of Deposit Accounts or Lock Boxes maintained with Lenders, the terms of such letter shall be subject to the provisions of the Credit Agreement regarding setoffs.

Covenant Regarding New Deposit Accounts; Lock Boxes. Before opening or replacing any Collateral Deposit Account or Account, other Deposit Account (other than an Excluded Account), or establishing a new Lock BoxBox (other than Excluded Deposit Accounts), each Grantor shall cause each bank or financial institution in which it seeks to open (i) a Deposit Account, to enter into a Deposit Account Control Agreement with the Administrative Agent in order to give the Administrative Agent Control of such Deposit Account, or (ii) a Lock Box, to enter into a Lock Box Agreement with the Administrative Agent in order to give the Administrative Agent Control of the Lock Box. In the case of Deposit Accounts or Lock Boxes maintained with LendersLenders and their Affiliates, the terms of such letter shall be subject to the provisions of the Credit Agreement regarding setoffs.

Covenant Regarding New Deposit Accounts; Lock Boxes. Before opening or replacing any Collateral Deposit Account or Account, other Deposit Account (other than an Excluded Account), or establishing a new Lock Box, each the Grantor shall cause each bank (a) notify the Administrative Agent with respect to the opening of such Deposit Account or financial institution in which it seeks to open Lock Box, and (b) (i) with respect to a Deposit Account, to enter into a Deposit Account Control Agreement comply with the Administrative Agent in order to give the Administrative Agent Control of such Deposit AccountSection 4.14 hereof, or (ii) with respect to a Lock Box, cause each applicable bank or financial institution to enter into a Lock Box Agreement with the Administrative Agent in order to give the Administrative Agent Control of the Lock Box. In the case of Deposit Accounts or Lock Boxes maintained with Lenders, the terms of such letter shall be subject to the provisions of the Credit Agreement regarding setoffs.

Covenant Regarding New Deposit Accounts; Lock Boxes. Before opening or replacing any Collateral Deposit Account or Account, other Deposit Account (other than an Excluded Account), or establishing a new Lock BoxBox (other than Excluded Deposit Accounts), each Grantor shall cause each bank or financial institution in which it seeks to open (i) a Deposit Account, to enter into a Deposit Account Control Agreement with the Administrative Noteholder Collateral Agent in order to give the Administrative Noteholder Collateral Agent Control of such Deposit Account, or (ii) a Lock Box, to enter into a Lock Box Agreement with the Administrative Noteholder Collateral Agent in order to give the Administrative Noteholder Collateral Agent Control of the Lock Box. In the case of Deposit Accounts or Lock Boxes maintained with LendersNoteholder Secured Parties and their Affiliates, the terms of such letter shall be subject to the provisions of the Credit Agreement Indenture regarding setoffs.