Deposit Accounts, Securities Accounts and Commodities Accounts Sample Clauses
The 'Deposit Accounts, Securities Accounts and Commodities Accounts' clause defines how various types of financial accounts—such as bank deposit accounts, brokerage accounts holding securities, and accounts for commodities—are treated under the agreement. It typically specifies the rights and obligations of the parties regarding control, access, and use of these accounts, and may outline procedures for granting security interests or perfecting collateral. This clause ensures clarity in the management and legal treatment of these financial assets, helping to prevent disputes over ownership or control in the event of default or insolvency.
Deposit Accounts, Securities Accounts and Commodities Accounts. Grantor Name and Address of Institution Purpose of the Account Account No.
Deposit Accounts, Securities Accounts and Commodities Accounts. Name of Grantor: Description of Deposit Accounts, Securities Accounts and Commodities Accounts:
Deposit Accounts, Securities Accounts and Commodities Accounts. (a) The Borrower shall, and shall cause each of its Restricted Subsidiaries to, maintain all of its respective operating, revenue, collection or other deposit accounts, securities accounts or commodities accounts (other than (i) any Excluded Account and (ii) any other deposit account, securities account or commodities account unless and until the first date after the Effective Date on which such account holds cash, securities, or commodities with an aggregate fair market value in excess of $3,000,000) held or maintained by the Borrower or its Restricted Subsidiaries on the Effective Date and for which a Control Agreement was delivered under the Existing Credit Agreement (but excluding any such account acquired or assumed in connection with the transactions contemplated by the Merger Agreement) with (x) one or more Lenders or (y) any other financial institution reasonably acceptable to the Administrative Agent, and in each case, subject to the Administrative Agent’s control pursuant to a Control Agreement.
(b) From and after the date that is sixty (60) days after the Effective Date (or such later date as the Administrative Agent shall reasonably agree), the Borrower shall, and shall cause each of its Restricted Subsidiaries to, maintain all of its respective operating, revenue, collection or other deposit accounts, securities accounts or commodities accounts (other than (i) any Excluded Account and (ii) any deposit account, securities account or commodities account unless and until the first date after the Effective Date on which such account holds cash securities, or commodities with an aggregate fair market value in excess of $3,000,000) established, held, assumed or otherwise maintained by the Borrower or its Restricted Subsidiaries after the Effective Date (including any account acquired or assumed in connection with the transactions contemplated by the Merger Agreement) with (x) one or more Lenders or (y) any other financial institution reasonably acceptable to the Administrative Agent, and in each case, subject to the Administrative Agent’s control pursuant to a Control Agreement.
Deposit Accounts, Securities Accounts and Commodities Accounts. Attached hereto as Schedule 11 is a true and correct list of Deposit Accounts, Securities Accounts and Commodities Accounts maintained by each Grantor, including the name and address of the depositary institution, Securities Intermediary or Commodities Intermediary holding the account, as applicable, the type of account, the account number , whether such account is required to be subject to a Control Agreement pursuant to the Credit Agreement and, if not, why it is not so required.
Deposit Accounts, Securities Accounts and Commodities Accounts. Except as listed on Schedule 9 attached hereto, Schedule 9 of the Prior Perfection Certificate is a true and correct list of all Deposit Accounts, Securities Accounts and Commodities Accounts (other than, in each case, any such account that constitutes Excluded Property) maintained by any Grantor, including the name of each institution where each such account is held, the nature of each such account, the value of each such account on or about the date hereof and the name of each entity that holds each account.
Deposit Accounts, Securities Accounts and Commodities Accounts. Except as listed on Schedule 12 attached hereto and made a part hereof, Schedule 12 to the Prior Perfection Certificate sets forth a true and correct list of the deposit accounts, securities accounts and commodities accounts held by the Loan Parties.
Deposit Accounts, Securities Accounts and Commodities Accounts. Owner Financial Institution Account Number General Purpose
Deposit Accounts, Securities Accounts and Commodities Accounts. Following the occurrence and during the continuance of a Specified Default, at the request of the Agent or the Required Banks, each Grantor will maintain all of its operating deposit accounts only with the Agent, J.▇. ▇▇▇▇▇▇ C▇▇▇▇ Bank, N.A., or with any depositary institution that has entered into an Account Control Agreement in favor of the Agent. No Grantor will open any new operating deposit accounts located in the United States (other than payroll accounts) not in existence on the date hereof without the prior written consent (not to be unreasonably withheld) of all Banks (other than, for the avoidance of doubt, any Affiliate of an Issuing Bank which has issued a Letter of Credit pursuant to the last sentence of the definition of Issuing Bank), and no Grantor will open any new Commodity Accounts or Security Accounts located in the United States not in existence on the date hereof unless such Grantor shall have given the Agent thirty (30) days prior written notice thereof. When no Specified Default exists, each Grantor may make purchases and sales of Investment Property in accordance with the restrictions on investment set out in the Credit Agreement and, for the avoidance of doubt, may make any and all withdrawals from its Deposit Accounts. When a Specified Default exists and the Agent provides the Company notice, no Grantor shall be authorized to make purchases and sales of the Investment Property, be authorized to make any withdrawals from any Deposit Account and it shall take such steps as Agent may reasonably request to give Agent control over all Investment Property and Deposit Accounts. No Grantor will give any party control over any Investment Property or Deposit Account.
Deposit Accounts, Securities Accounts and Commodities Accounts. (i) From and after the Fifth Amendment Date, no Loan Party shall establish and/or maintain any deposit account, securities account or commodity account (other than an Excluded Account) unless such Loan Party shall have (x) with respect to deposit accounts, securities accounts and commodity accounts (other than Excluded Accounts) maintained in the United States delivered to the Administrative Agent a Control Agreement and (y) with respect to deposit accounts, securities accounts and commodity accounts (other than Excluded Accounts) maintained outside of the United States established arrangements reasonably satisfactory to the Administrative Agent in its sole discretion (which, without limitation, may include (in the sole discretion of the Administrative Agent), security arrangements in the jurisdiction where such deposit account, securities account or commodity account is maintained, a designation of such deposit account, securities account or commodity account as an Excluded Account, and/or covenants or restrictions thereon). In the case of any deposit account, securities account or commodity account established, acquired or that ceases to be an Excluded Account after the Fifth Amendment Date, the Borrowers shall deliver to the Administrative Agent a supplement to the Bank Account Schedule and the requirements specified in the preceding sentence with respect thereto shall be required to be satisfied on the date such deposit account, securities account or commodity account is established, acquired or ceases to be an Excluded Account (or such later date as the Administrative Agent may agree).
(ii) Administrative Agent shall be permitted to, during the continuance of an Event of Default, direct any depository bank or other financial institution that is a party to a Control Agreement or other arrangement or that otherwise maintains a deposit account, securities account or commodity account of a Loan Party to transfer to Administrative Agent any funds or other assets deposited or held therein on a daily basis or at other times acceptable to Administrative Agent for application to the Obligations in accordance with this Agreement.
(iii) No Loan Party shall have cash deposits, at any time, (A) in any deposit account, security account or other account located in, titled in, or domiciled in Bermuda in excess of $1,000,000 in any one deposit account or $2,000,000 in the aggregate in all such deposit, securities or other accounts, or (B) in any deposit account, secur...
Deposit Accounts, Securities Accounts and Commodities Accounts. No Credit Party shall:
(a) establish or maintain a Deposit Account or Securities Account that is not a Controlled Account (other than the DOE Funding Account so long as (and solely to the extent that) the DOE Funding Account does not constitute “Shared Collateral” under the Intercreditor Agreement);
(b) deposit any Cash (including, without limitation, Net Cash Proceeds and other proceeds of Collateral) in a Deposit Account which is not a Controlled Account; or
(c) establish or maintain a commodities account other than in connection with Hedging Transactions permitted under Section 6.1.