Common use of Deposit Accounts and Cash Management Systems Clause in Contracts

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. On From and after November 30the Closing Date in the case of Company and its Subsidiaries, 1999and from and after the date that is 90 days after the Closing Date in the case of Company, Silicon Energy Corp. and its Subsidiaries, Company 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. Company shall not permit any of such Deposit Accounts with any Person other than Administrative Agent or any other Lenders account in which Investment Property is maintained at any time to have a principal balance in excess of $500,000 1,000,000 unless Company or such Domestic Subsidiary, as the case may be, has (i) executed and delivered to Administrative Agent an agreementa Control 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 a perfected security interest in such Deposit AccountAccount or other account; provided that that, if Company or such Domestic Subsidiary is unable to obtain such agreement a Control Agreement from such the financial institutioninstitution at which the Deposit Account or other account is maintained, Company shall, or shall cause such Domestic Subsidiary to, within 30 days after receiving a written request by Administrative Agent to do so, transfer all amounts in the applicable Deposit Account or other account to a Deposit Account or other account maintained with at a financial institution from which Company or such Domestic Subsidiary has obtained such an agreementa Control Agreement. 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 or any other LendersAgent) at any time to exceed $500,0001,000,000.

Deposit Accounts and Cash Management Systems. On and after November 30, 1999, Company Borrower shall, and shall cause each of its Subsidiaries to, use and maintain its Deposit Accounts and cash management systems solely with one or more of the Lenders hereunder and in a manner reasonably satisfactory to Administrative Agent. Company 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 with any Person other than Administrative Agent or any other Lenders at any time to have a principal balance in excess of $500,000 2,000,000 unless Company such Deposit Account is with Administrative Agent or 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, 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 Borrower or such Subsidiary is unable to obtain such agreement from such financial institution, Company 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 with at a financial institution from which Company Borrower 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. On and after November 30, 1999, Company Loan Parties shall, and shall cause each of its their Subsidiaries to, use and maintain its Deposit Accounts and cash management systems solely with one or more of the Lenders hereunder and in a manner reasonably satisfactory to Administrative Agent. Company 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. The Loan Parties 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 2,000,000 unless Company such Deposit Account is with Administrative Agent or such Loan Party 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, 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 setoff with respect to amounts in such Deposit Account (such agreements, "Deposit Account Control Agreements") 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 such Loan Party or such Subsidiary is unable to obtain such agreement from such financial institution, Company institution such Loan Party 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 at a financial institution from which Company such Loan Party 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.