Deposit Account Control Agreement Sample Clauses

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.
AutoNDA by SimpleDocs
Deposit Account Control Agreement. A Deposit Account Control Agreement, duly executed and delivered by each Initial Borrower, the applicable Account Bank and Administrative Agent, with respect to each Collateral Account, which shall be acceptable to Administrative Agent and each Lender in its sole but reasonable discretion;
Deposit Account Control Agreement. Each deposit account control agreement, in form and substance satisfactory to Agent, from time to time executed by a Deposit Account Bank in favor of Agent for the benefit of Agent and Lenders.
Deposit Account Control Agreement. In the case of the Borrower only, such Grantor and the Administrative Agent agree and covenant that: (a) the Borrower will cause all cash, instruments, securities, other financial assets and funds paid to it and/or paid to the CMBS Manager (or the Person acting in a capacity analogous to the CMBS Manager pursuant to any Additional Securitization Arrangements) from time to time under, pursuant to or in connection with the 2005 Securitization Arrangements, the 2006 Securitization Arrangements and the Additional Securitization Arrangements to be paid into the Account (as defined in the Deposit Account Control Agreement) (or, in the case of such cash, instruments, securities, other financial assets and funds paid to the CMBS Manager (or the Person acting in a capacity analogous to the CMBS Manager pursuant to any Additional Securitization Arrangements), dividended to SBA Senior Finance II LLC and then, in turn, to the Borrower and transferred into such Account as soon as practicable but in any event within ten Business Days) and to so remain in such Account so long as it remains in possession of such cash, instruments, securities, other financial assets and funds. Notwithstanding the foregoing and subject to Section 1 of the Deposit Account Control Agreement, nothing contained herein shall limit the ability of the Borrower to withdraw all or any portion of the funds on deposit in such Account or the Lockboxes (as defined in the Deposit Account Control Agreement) and to otherwise deal with the Account Collateral (as defined in the Deposit Account Control Agreement) for any purpose whatsoever, including distributions or contributions to an Affiliate which may use such funds for any purpose whatsoever; provided, however, that such withdrawn funds shall not be deposited into any account of the Borrower other than such Account or another account subject to an agreement substantially similar to the Deposit Account Control Agreement and reasonably satisfactory to the Administrative Agent, but nothing contained herein shall restrict or impair the ability of the Borrower to maintain other accounts not covered by the Deposit Account Control Agreement containing other funds. (b) the Borrower will maintain the security interest created by the Deposit Account Control Agreement as a first priority, perfected security interest and defend the right, title and interest of the Administrative Agent, for the benefit of the Secured Parties, in and to the Account Collateral against...
Deposit Account Control Agreement. Intentionally Omitted.
Deposit Account Control Agreement. Delivery to Administrative Agent of a Deposit Account Control Agreement sufficient to perfect the security interests created in the deposit accounts held at First Union National Bank pursuant to the Collateral Documents; and
Deposit Account Control Agreement. HC Royalty, Grantors and the account bank shall on the Closing Date enter into a deposit account control agreement in a form and substance reasonably acceptable to HC Royalty providing that upon any default under the Transaction Documents HC Royalty shall have a right to instruct the account bank with respect to the disposition of funds in the Seller Deposit Account in order to receive the Royalty Interest and to perfect HC Royalty’s interest in the Seller Deposit Account by “control” within the meaning of the UCC.
AutoNDA by SimpleDocs
Deposit Account Control Agreement. Unless an Event of Default has occurred and is continuing and notice has been delivered by the Collateral Trustee pursuant to the Collateral Trust Agreement, the Collateral Trustee shall not, and the Collateral Agent shall not instruct the Collateral Trustee to, issue any instructions with respect to any account subject to any Deposit Account Control Agreement or any cash or other assets on deposit in or held in any such account and shall not give instructions on consent to the delivery of any such exercise or issuance by the Collateral Trustee unless required under the Collateral Trust Agreement, but will otherwise continue to exercise dominion or control over such account.
Deposit Account Control Agreement. Upon the occurrence and during the continuance of an Event of Default, Lxxxxx may exercise any and all rights as a secured creditor in respect of the Deposit Accounts of Company, including without limitation providing instructions to the bank regarding the withdrawal or disposition of any funds credited to the Deposit Accounts and as to any other matters relating to the Deposit Accounts in accordance with the terms of the Deposit Account Control Agreement.
Deposit Account Control Agreement. Within sixty (60) days after the Closing Date (or such longer period as Requisite Holders may agree in their reasonable discretion pursuant to a Direction of Requisite Holders), the Note Parties shall use commercially reasonable efforts to enter into Deposit Account Control Agreements or Securities Account Control Agreements, as applicable, with respect to all Deposit Accounts that do not constitute Excluded Accounts.
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!