Deposit Accounts and Collections Sample Clauses

Deposit Accounts and Collections. (a) Maintain its primary depositary and operating accounts with one or more Lenders; and
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Deposit Accounts and Collections. Subject to Section 7.16, the Borrower shall, and shall cause each Loan Party to ensure that all collections and/or payments in respect of accounts or other Collateral and all other proceeds whatsoever of or from any Collateral are promptly paid into one or more deposit accounts subject to an Account Control Agreement in accordance with procedures and arrangements reasonably acceptable to the Administrative Agent and subject only to such changes as may be approved in advance by the Administrative Agent. To the extent that any collections and/or payments with respect to accounts or other Collateral or any other proceeds whatsoever of or from any Collateral are not sent directly to such accounts in accordance with procedures and arrangements reasonably acceptable to the Administrative Agent, such collections, payments and/or proceeds shall be held in trust for the benefit of the Administrative Agent and the Working Capital Agent (subject to the applicable provisions of the Intercreditor Agreement) and immediately remitted for transfer to such accounts. So long as no Event of Default has occurred and is continuing, the Loan Parties shall be permitted to withdraw funds from such accounts without any restriction and without the consent of the Administrative Agent.
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Deposit Accounts and Collections. The Borrower agrees to forthwith make such arrangements as shall be necessary or appropriate to assure that all cash or cash equivalent proceeds of the Collateral are deposited (in the same form as received), through a lock box maintained by or otherwise under the control of the Bank, into one or more deposit accounts maintained with or otherwise under the control of the Bank. The Borrower shall cause each financial institution maintaining one or more deposit accounts for the Borrower or any of its Subsidiaries to enter into an agreement with the Bank pursuant to which such financial institution acknowledges and agrees to the Bank's Lien on such deposit accounts and all funds therein, to waive any right of offset or bankers' lien with respect to such deposit accounts (other than charges for account maintenance fees and returned items), and, during the existence of any Default or Event of Default, to remit all collected balances in such deposit accounts to the Bank. The Borrower hereby acknowledges and agrees that the Bank has (and is hereby granted) a Lien on all such deposit accounts and all funds contained therein to secure the Obligations. The Bank agrees with the Borrower that if and so long as no Default or Event of Default has occurred or is continuing, amounts on deposit in the deposit accounts maintained with the Bank will (subject to the rules and regulations of the Bank as from time to time in effect applicable to demand deposit accounts) be made available to the Borrower or the relevant Subsidiary for use in the conduct of its business. Upon the occurrence of a Default or an Event of Default, the Bank may apply the funds on deposit in all such deposit accounts to the Obligations.
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Deposit Accounts and Collections. Maintain its primary depositary and operating accounts, and treasury management services, with Bank.
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Related to Deposit Accounts and Collections

  • Deposit Accounts; Etc (i) Schedule 5 hereto accurately sets forth, as of the date of this Agreement, for each Grantor, each deposit account maintained by such Grantor (including a description thereof and the respective account number) and the name of the respective bank with which such deposit account is maintained. Subject to Section 4(c) hereof and the terms of the Intercreditor Agreement, for each deposit account that is Collateral (other than the Cash Collateral Account or any other deposit account maintained with the Collateral Agent), the respective Grantor shall use commercially reasonable efforts to cause the bank with which the deposit account is maintained to execute and deliver to the Collateral Agent, (x) in the case of an account located at a bank which is a lender under the Senior Credit Facility, within 30 days after the date of this Agreement (or, if later, the date of the establishment of the respective deposit account), or (y) in the case of an account located at a bank which is a not lender under the Senior Credit Facility, within 45 days after the date of this Agreement (or, if later, the date of the establishment of the respective deposit account), a “control agreement” in form and substance consistent with the deposit account control agreements entered into by the Company pursuant to the Senior Credit Facility, or otherwise acceptable to the Collateral Agent. Subject to Section 10(n)(iii) hereof, if any bank with which a deposit account is maintained refuses to, or does not, enter into such a “control agreement”, then the respective Grantor shall promptly (and in any event within 30 days after the date of this Agreement or, if later, 30 days after the establishment of such account) close the respective deposit account and transfer all balances therein to the Cash Collateral Account or another deposit account meeting the requirements of this Section 4(q). If any bank with which a deposit account is maintained refuses to subordinate all its claims with respect to such deposit account to the Collateral Agent’s security interest therein on terms satisfactory to the Collateral Agent, then the Collateral Agent, at its option, may (x) require that such deposit account be terminated in accordance with the immediately preceding sentence or (y) agree to a “control agreement” without such subordination, provided that in such event the Collateral Agent may at any time, at its option, subsequently require that such deposit account be terminated (within 30 days after notice from the Collateral Agent) in accordance with the requirements of the immediately preceding sentence.

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

  • Control Accounts; Approved Deposit Accounts Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.

  • Deposit Accounts, Securities Accounts and Commodity Accounts Attached hereto as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity Accounts (each as defined in the Security Agreement) maintained by each Pledgor, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each account.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Deposit Accounts; Credit Card Processors Open new DDAs (other than Excluded DDAs and Retail DDAs) unless the Loan Parties shall have delivered to the Agent appropriate Blocked Account Agreements consistent with the provisions of Section 6.12 and otherwise satisfactory to the Agent. No Loan Party shall maintain any bank accounts or enter into any agreements with Credit Card Issuers or Credit Card Processors other than the ones expressly contemplated herein or in Section 6.12 hereof.

  • Deposit Accounts; Credit Card Arrangements (a) Annexed hereto as Schedule 5.21(a) is a list of all DDAs maintained by the Loan Parties as of the Closing Date, which Schedule includes, with respect to each DDA (i) the name and address of the depository; (ii) the account number(s) maintained with such depository; (iii) a contact person at such depository, and (iv) the identification of each Blocked Account Bank.

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