Deposit Accounts; Control Sample Clauses
Deposit Accounts; Control. To further secure the Secured Obligations, and to more fully protect the security interest of Secured Party against Liens of other creditors of any Debtor, each Debtor hereby agrees that Secured Party shall have the right to direct the disposition of funds in such Deposit Accounts upon the occurrence and during the continuance of any Event of Default, without further consent of Debtor and shall execute and deliver to Secured Party, and shall cause each Bank with which such Deposit Account identified on Schedule 2.02 is maintained (excluding any payroll or disbursement accounts) to execute and deliver to Secured Party, such Deposit Account Control Agreements as Secured Party may reasonably request, in a form reasonably satisfactory to Secured Party, to further confirm and perfect Secured Party’s Lien upon such Debtor’s Deposit Accounts (excluding any payroll or disbursement accounts). If any Debtor is unable to obtain such Deposit Account Control Agreements, at Secured Party’s request, Debtor shall close such Deposit Accounts and move to a financial institution reasonably acceptable to Secured Party in order to enable Secured Party to obtain a perfected security interest in such Deposit Accounts.
Deposit Accounts; Control. To further secure the Secured Obligations, and to more fully protect the security interest of Secured Party against Liens of other creditors of any Debtor, each Debtor hereby agrees that Secured Party shall have the right to direct the disposition of funds in such Deposit Accounts upon the occurrence and during the continuance of any Event of Default, without further consent of Debtor and shall execute and deliver to Secured Party, and shall use its best efforts to cause smu Bank with which such Deposit Account identified on Schedule 2.02 is maintained (excluding any payroll or disbursement accounts) to execute and deliver to Secured Party, such Deposit Account Control Agreements as Secured Party may reasonably request, in a form reasonably satisfactory to Secured Party, to further confirm and perfect Secured Party’s Lien upon such Debtor’s Deposit Accounts (excluding any payroll or disbursement accounts).
Deposit Accounts; Control. (a) To further secure the Asset Purchase Agreement Article IX Obligations and the Loan Obligations, and to more fully protect the security interest of Lender against Liens of other creditors of any Borrower, each Borrower hereby (i) transfers and assigns exclusively to Lender all of Borrowers' now owned and hereafter acquired rights of ownership, dominion and control of all of Borrowers' Deposit Accounts, including all of Borrowers' Deposit Accounts disclosed or listed on any schedule to this Agreement or any other Credit Document and all of Borrowers' other Deposit Accounts whether or not so disclosed or listed, and (ii) agrees that Lender shall have the right to direct the disposition of funds in each of Borrowers' Deposit Accounts without further consent of any Borrower. Promptly upon Lender's request from time to time, Borrowers shall Authenticate and deliver to Lender, and shall cause each Bank with which any Deposit Account is maintained to Authenticate and deliver to Lender, such Control Agreements as Lender may request to further confirm and perfect Lender's Lien upon Borrowers' Deposit Accounts.
(b) With respect to any of Borrowers' Deposit Accounts maintained with Lender, Lender shall have the right, at any time, to (i) terminate Borrowers' right to direct the disposition of funds from the Deposit Accounts and (ii) block Borrowers' access to the Deposit Accounts and any funds in the Deposit Accounts.
(c) With respect to any of Borrowers' Deposit Accounts not maintained with Lender, Borrowers shall not have the right to direct the disposition of any funds from the Deposit Accounts unless Lender has agreed in writing that Borrowers retain the right to direct the disposition of funds from the Deposit Accounts. If Lender has agreed in writing that Borrowers retain the right to direct the disposition of funds from a Deposit Account not maintained with Lender, Lender shall be entitled to terminate Borrowers' right to direct the disposition of funds from such Deposit Account at any time in Lender's sole discretion by giving the Bank with which such Deposit Account is maintained a written notice ("blocked account notice") terminating Borrowers' right to direct the disposition of funds from such Deposit Account.
(d) If the Restricted Cash Account is a Deposit Account, then so long as the Restricted Cash Account contains no Property other than the Restricted Cash, the provisions of this Section 4A.02 shall not apply to the Restricted Cash Account.
Deposit Accounts; Control. Subject to Section 7.15(b) hereof, the Parent and its Subsidiaries will obtain Deposit Account Control Agreements for those Deposit Accounts identified by the Administrative Agent as collection accounts for receipt of payment on Accounts and execute and deliver all agreements, assignments, instruments or other documents as reasonably requested by the Administrative Agent for the purpose of obtaining and maintaining control thereof and amounts held therein.
Deposit Accounts; Control. All of the Borrower Accounts shall be opened and operated as, and shall be deemed to be, “deposit accounts” (within the meaning of Section 9-102(a)(29) of the UCC), which Borrower shall maintain with Depositary acting as a “bank” (within the meaning of Section 9-102(a)(8) of the UCC). The Borrower agrees that until this Agreement and the Loan Documents shall terminate in accordance with the terms hereof, Agent shall have sole “control” (within the meaning of Section 9-104(a)(2) and (3) of the UCC) of the