Common use of Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts Clause in Contracts

Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts. (a) No Borrower will, or will permit any Subsidiary to, directly or indirectly, establish any new Deposit Account or Securities Account without prior written notice to Agent and, unless Agent shall otherwise consent, such Borrower or such Subsidiary and the bank, financial institution or securities intermediary at which the account is to be opened enter into a Deposit Account Control Agreement or Securities Account Control Agreement prior to or concurrently with the establishment of such Deposit Account or Securities Account.

Appears in 2 contracts

Samples: Credit and Security Agreement (Radius Health, Inc.), Credit and Security Agreement (Radius Health, Inc.)

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Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts. (a) No Borrower will, or will permit any Subsidiary (except Excluded Foreign Subsidiaries) to, directly or indirectly, establish any new Deposit Account or Securities Account without prior written notice to Agent andAgent, and unless Agent shall otherwise consentAgent, such Borrower or such Subsidiary and the bank, financial institution or securities intermediary at which the account is to be opened enter into a Deposit Account Control Agreement or Securities Account Control Agreement prior to or concurrently with the establishment of such Deposit Account or Securities Account.

Appears in 2 contracts

Samples: Credit and Security Agreement (Novadaq Technologies Inc), Credit and Security Agreement (Novadaq Technologies Inc)

Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts. (a) No Borrower will, or will permit any Subsidiary to, directly or indirectly, establish any new Deposit Account or Securities Account without prior written notice to Agent andAgent, and unless Agent shall otherwise consentAgent, such Borrower or such Subsidiary and the bank, financial institution or securities intermediary at which the account is to be opened enter into a Deposit Account Control Agreement or Securities Account Control Agreement prior to or concurrently with the establishment of such Deposit Account or Securities Account.. 61

Appears in 2 contracts

Samples: Credit and Security Agreement (Aziyo Biologics, Inc.), Credit and Security Agreement (Aziyo Biologics, Inc.)

Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts. (a) No Borrower will, or will permit any Subsidiary to, directly or indirectly, establish any new Deposit Account or Securities Account without prior written notice to Agent andAgent, and unless Agent shall otherwise consentAgent, such Borrower or such Subsidiary and the bank, financial institution or securities intermediary at which the account is to be opened enter into a Deposit Account Control Agreement or Securities Account Control Agreement prior to or concurrently with the establishment of such Deposit Account or Securities Account.

Appears in 2 contracts

Samples: Credit and Security Agreement (Aziyo Biologics, Inc.), Credit and Security Agreement (Aziyo Biologics, Inc.)

Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts. (a) No Borrower will, or will permit any Subsidiary to, directly or indirectly, establish any new Deposit Account or Securities Account without prior written notice to Agent and, unless Agent shall otherwise consent, such Borrower or such Subsidiary and the bank, financial institution or securities intermediary at which the account is to be opened shall enter into a Deposit Account Control Agreement or Securities Account Control Agreement prior to or concurrently with the establishment of such Deposit Account or Securities Account.

Appears in 2 contracts

Samples: Credit and Security Agreement (Radius Health, Inc.), Credit and Security Agreement (Radius Health, Inc.)

Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts. (a) No Subject to Section 5.14(b), no Borrower will, or will permit any Subsidiary to, directly or indirectly, establish any new Deposit Account or Securities Account without prior written notice to Agent andAgent, and unless Agent shall otherwise consentAgent, such Borrower or such Subsidiary and the bank, financial institution or securities intermediary at which the account is to be opened enter into a Deposit Account Control Agreement or Securities Account Control Agreement prior to or concurrently with the establishment of such Deposit Account or Securities Account.

Appears in 2 contracts

Samples: Credit and Security Agreement (HTG Molecular Diagnostics, Inc), Credit and Security Agreement (HTG Molecular Diagnostics, Inc)

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Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts. (a) No Borrower will, or will permit any Subsidiary to, directly or indirectly, establish any new Deposit Account or Securities Account without prior written notice to Agent andAgent, and unless Agent shall otherwise consentAgent, such Borrower or such Subsidiary and the bank, financial institution or securities intermediary at which the account is to be opened enter into a Deposit Account Control Agreement or Securities Account Control Agreement prior to or concurrently with the establishment of such Deposit Account or Securities AccountAccount other than Excluded Accounts.

Appears in 2 contracts

Samples: Credit and Security Agreement (Sientra, Inc.), Credit and Security Agreement (Sientra, Inc.)

Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts. (a) No Except for Excluded Accounts, no Borrower will, or will permit any Subsidiary to, directly or indirectly, establish any new Deposit Account or Securities Account without prior written notice to Agent andAgent, and unless Agent shall otherwise consentAgent, such Borrower or such Subsidiary and the bank, financial institution or securities intermediary at which the account is to be opened enter into a Deposit Account Control Agreement or Securities Account Control Agreement (as applicable) prior to or concurrently with the establishment of such Deposit Account or Securities Account.

Appears in 1 contract

Samples: Credit and Security Agreement (PTC Therapeutics, Inc.)

Deposit Accounts and Securities Accounts; Payroll and Benefits Accounts. (a) No Borrower will, or will permit any Subsidiary to, directly or indirectly, establish any new Deposit Account or Securities Account without prior written notice to Agent andAgent, and unless Agent shall otherwise consentAgent, such Borrower or such Subsidiary and the bank, financial institution or securities intermediary at which the account is to be opened enter into a Deposit Account Control Agreement or MidCap / Sientra / Second A&R Credit and Security Agreement (Term) Securities Account Control Agreement prior to or concurrently with the establishment of such Deposit Account or Securities AccountAccount other than Excluded Accounts.

Appears in 1 contract

Samples: Credit and Security Agreement (Sientra, Inc.)

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