Deposit Accounts and Cash Management Systems. Borrower shall, and shall cause each of its Subsidiaries to, use and maintain its Deposit Accounts and cash management systems within the state of California and in a manner reasonably satisfactory to Administrative Agent. Information regarding these Deposit Accounts, including (a) the name and address of the financial institutions maintaining the Deposit Accounts, and (b) the Deposit Account numbers, shall be set forth on SCHEDULE 6.10 annexed hereto. Borrower shall not permit any of such Deposit Accounts at any time to have a principal balance in excess of $500,000 unless Borrower or such Subsidiary, as the case may be, has (i) delivered to Administrative Agent an agreement, satisfactory in form and substance to Administrative Agent and executed by the financial institution at which such Deposit Account is maintained, pursuant to which such financial institution confirms and acknowledges Administrative Agent's security interest in, and sole dominion and control over, such Deposit Account and waives its rights to set-off with respect to amounts in such Deposit Account and (ii) taken all other steps necessary or, in the opinion of Administrative Agent, desirable to ensure that Administrative Agent has sole dominion and control over such Deposit Account; PROVIDED that if Borrower or such Subsidiary is unable to obtain such agreement from such financial institution Borrower shall, or shall cause such Subsidiary to, within 30 days after receiving a written request by Administrative Agent to do so, transfer all amounts in the applicable Deposit Account to a Deposit Account maintained at a financial institution from which Borrower or such Subsidiary has obtained such an agreement.
Deposit Accounts and Cash Management Systems. Company shall, and shall cause each of its Domestic Subsidiaries to, use and maintain its Deposit Accounts, Securities Accounts and cash management systems in a manner reasonably satisfactory to Administrative Agent. Beginning with the date 60 days after the Effective Date (or at such later date as determined in the sole discretion of Collateral Agent), Company shall not permit any of such Deposit Accounts (other than Government Reimbursement Deposit Accounts) and Securities Accounts at any time to have a principal balance in excess of $100,000 unless Company or such Domestic Subsidiary, as the case may be, has (i) executed and delivered to Administrative Agent a Control Agreement, and (ii) taken all other steps necessary or, in the reasonable opinion of Administrative Agent or Collateral Agent, desirable to ensure that Collateral Agent has a perfected security interest in such Deposit Account; provided that, if Company or such Domestic Subsidiary is unable to obtain a Control Agreement from the financial institution at which the Deposit Account or Securities Account is maintained, Company shall, or shall cause such Domestic Subsidiary to, within 60 days after receiving a written request by Administrative Agent to do so, transfer all amounts in the applicable Deposit Account or Securities Account to a Deposit Account or Securities Account, as applicable, maintained at a financial institution from which Company or such Domestic Subsidiary has obtained a Control Agreement. Beginning with the date 60 days after the Effective Date (or at such later date as determined in the sole discretion of Collateral Agent), Company shall not permit the aggregate amount on deposit in all Deposit Accounts of Company and of its Domestic Subsidiaries (other than Deposit Accounts maintained with Administrative Agent and Deposit Accounts with respect to which the depository institution has executed a Control Agreement) at any time to exceed $1,000,000.
Deposit Accounts and Cash Management Systems. On and after November 30, 1999, Company shall, and shall cause each of its Subsidiaries to, use and maintain its Deposit Accounts and cash management systems in a manner reasonably satisfactory to Administrative Agent. Company shall not permit any of such Deposit Accounts with any Person other than Administrative Agent or any other Lenders at any time to have a principal balance in excess of $500,000 unless Company or such Subsidiary, as the case may be, has (i) delivered to Administrative Agent an agreement, satisfactory in form and substance to Administrative Agent and executed by the financial institution, at which such Deposit Account is maintained, pursuant to which such financial institution confirms and acknowledges Administrative Agent's security interest in, and sole dominion and control over, such Deposit Account and waives its rights to set-off with respect to amounts in such Deposit Account and (ii) taken all other steps necessary or, in the reasonable opinion of Administrative Agent, desirable to ensure that Administrative Agent has sole dominion and control over such Deposit Account; provided that if Company or such Subsidiary is unable to obtain such agreement from such financial institution, Company shall, or shall cause such Subsidiary to, within 30 days after receiving a written request by Administrative Agent to do so, transfer all amounts in the applicable Deposit Account to a Deposit Account maintained with a financial institution from which Company or such Subsidiary has obtained such an agreement. Company shall not permit the aggregate amount on deposit in all Deposit Accounts of Company and of its Subsidiaries (other than Deposit Accounts maintained with Administrative Agent or any other Lenders) at any time to exceed $500,000.
Deposit Accounts and Cash Management Systems. Company, and shall cause each of its Subsidiaries to, use and maintain its Deposit Accounts and cash management systems in a manner reasonably satisfactory to Administrative Agent and comply with limitations on cash on hand, all as set forth on Schedule 6.12 annexed hereto. -------------
Deposit Accounts and Cash Management Systems. Borrower shall, and shall cause each of its Subsidiaries to, use and maintain its Deposit Accounts and cash management systems in a manner reasonably satisfactory to Administrative Agent. Information regarding these Deposit Accounts, including (a) the name and address of the financial institutions maintaining the Deposit Accounts, and (b) the Deposit Account numbers, shall be set forth on Schedule 6.10 annexed hereto. Borrower shall not permit any Deposit Accounts at any time to have a principal balance in excess of $100,000 unless Borrower or such Subsidiary, as the case may be, has (i) delivered to Administrative Agent an agreement, satisfactory in form and substance to Administrative Agent and executed by the financial institution at which such Deposit Account is maintained, pursuant to which such financial institution confirms and acknowledges Administrative Agent's security interest in, and sole dominion and control over, such Deposit Account and waives its rights to set-off with respect to amounts in such Deposit Account, and (ii) taken all other steps necessary or, in the opinion of Administrative Agent, desirable to ensure that Administrative Agent will have sole dominion and control over such Deposit Account at all times while such agreement is in effect; provided that if Borrower or such Subsidiary is unable to obtain such agreement from such financial institution Borrower shall, or shall cause such Subsidiary to, within 30 days after receiving a written request by Administrative Agent to do so, transfer all amounts in the applicable Deposit Account to a Deposit Account maintained at a financial institution from which Borrower or such Subsidiary has obtained such an agreement.
Deposit Accounts and Cash Management Systems. Borrower shall, and shall cause each of its Subsidiaries to, use and maintain its Deposit Accounts and cash management systems in a manner reasonably satisfactory to Administrative Agent. Information regarding these Deposit Accounts, including (a) the name and address of the financial institutions maintaining the Deposit Accounts, and (b) the Deposit Account numbers, are set forth on Schedule 6.10 annexed hereto. Borrower shall not permit any of such Deposit Accounts at any time to have a principal balance in excess of $1,000,000 unless Borrower or such Subsidiary, as the case may be, has (i) delivered to Administrative Agent a Deposit Account Control Agreement, and (ii) taken all other steps necessary or, in the opinion of Administrative Agent, desirable to ensure that Administrative Agent will have a First Priority Lien in such Deposit Account at all times while such agreement is in effect; provided that if Borrower or such Subsidiary is unable to obtain such agreement from such financial institution Borrower shall, or shall cause such Subsidiary to, within 30 days after receiving a written request by Administrative Agent to do so, transfer all amounts in the applicable Deposit Account to a Deposit Account maintained at a financial institution from which Borrower or such Subsidiary has obtained such an agreement. Borrower shall not permit the aggregate amount on deposit in all Deposit Accounts of Borrower and of its Subsidiaries (other than Deposit Accounts maintained with Administrative Agent) or Deposit Accounts for which a Deposit Account Control Agreement described above has been executed and delivered) at any time to exceed $1,000,000.
Deposit Accounts and Cash Management Systems. Establish and maintain the cash management systems (the "Cash Management Systems") described below:
(a) The Borrower shall not, nor shall it permit any of its Subsidiaries to, establish or maintain any Deposit Account (other than Client Disbursement Accounts) with any financial institutions other than the Administrative Agent or a Lender.
(b) The Borrower shall use and maintain each Deposit Account (other than any Client Disbursement Account) established with the Administrative Agent or a Lender, as the case may be, in a manner reasonably satisfactory to the Administrative Agent, and, no later than thirty (30) days after the Closing Date (which date may be extended by the Administrative Agent, in its sole discretion), to the extent required by the Administrative Agent, shall have entered into Cash Management Letters with the Administrative Agent or a Lender, as the case may be, in respect of such Deposit Account in form and substance reasonably satisfactory to the Administrative Agent; provided that the Deposit Accounts of the Borrower which are not established and maintained with the Administrative Agent shall only be Disbursement Accounts.
(c) From and after the Closing Date, the Borrower shall deposit, and cause each of its Subsidiaries to deposit, on each Business Day, all Daily Receipts into the applicable Deposit Account; provided that the Daily Receipts representing funds owned beneficially by clients of Borrower and its Subsidiaries (other than Borrower or any of its Affiliates) shall be deposited only in Client Disbursement Accounts and shall not be deposited in any other Deposit Account or commingled with any other Daily Receipts of the Borrower or any of its Subsidiaries.
(d) From and after the Closing Date, on each Business Day, all collected funds on deposit in each Deposit Account (other than the Client Disbursement Accounts) in excess of $4,000,000 in the aggregate shall be transferred to the Collection Account. All available funds on deposit in the Collection Account shall be applied on a daily basis by the Administrative Agent to the prepayment of Revolving Loans then outstanding, in accordance with the provisions of Section 2.3(b)(iii)(H).
Deposit Accounts and Cash Management Systems. Parent shall, and shall cause each of its Subsidiaries to, use and maintain its Deposit Accounts and cash management systems in a manner reasonably satisfactory to Administrative Agent. Within 60 days after the Closing Date, Parent and its Subsidiaries shall have (i) executed and delivered to Administrative Agent Control Agreements, and (ii) taken all other steps necessary or, in the opinion of Administrative Agent, desirable to ensure that Administrative Agent has a perfected security interest in each Deposit Account; provided that, if Parent or such Subsidiary is unable to obtain a Control Agreement from the financial institution at which a Deposit Account is maintained, Parent shall, or shall cause such Subsidiary to, transfer all amounts in the applicable account to an account maintained at a financial institution for which Parent or such Subsidiary has obtained a Control Agreement.
Deposit Accounts and Cash Management Systems. The Debtors shall use and maintain their Deposit Accounts and any accounts listed on Schedule 1.01 and cash management systems in a manner satisfactory to the Lenders and otherwise in compliance with the Final Financing Order and the Cash Management Order. The Debtors will ensure that after the Closing Date, no Cash, Cash Equivalents or other assets or property is deposited in or otherwise transferred into any of the accounts listed on Schedule 1.01.
Deposit Accounts and Cash Management Systems. Borrowers shall, and shall cause each of its Domestic Subsidiaries to, use and maintain its Deposit Accounts and cash management systems in a manner reasonably satisfactory to Administrative Agent pursuant to Section 2.10.
