Common use of Establishment and Operation of Collateral Account Clause in Contracts

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx Xxxxxx, Los Angeles, CA 90071, as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco International, Inc. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx Xxxxxx, Los Angeles, CA 90071________________________________, as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco International, Aurora Foods Inc. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx Xxxxxx, Los Angeles, CA 90071_____________________________________________, as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco International, Outsourcing Solutions Inc. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at [One First Union Center TW-10, 000 X. Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxx Xxxxxxxx Xxxxxx, Los Angeles, CA 9007100000-0000], as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco InternationalThe Pantry, Inc. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx XxxxxxXxx Xxxxxxx Xxxxx, Los Angeles0xx Xxxxx, CA 90071Xxx Xxxx, Xxx Xxxx 00000-0000, as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco InternationalArterial Vascular Engineering, Inc. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of LendersBeneficiaries, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) a. Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx 14 Wxxx Xxxxxx, Los AngelesXxx Xxxx, CA 90071Xxx Xxxx 00000, as xx a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco InternationalFWT, Inc. Collateral Account". (b) b. The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) c. All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) d. Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx Xxxxxx, Los Angeles, CA 90071_____________________________________________, as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco International, MBW Foods Inc. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 115 Xxxxx Xxxxxxxx XxXxxxx Xxxxxx, Los AngelesXxxxxxx, CA 90071Xxxxxxxx 00000, as xx a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco InternationalBank Of Montreal as Agent for Regent Communications, Inc. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx Xxxxxxxxx Xxxxxx, Los AngelesXxx Xxxx, CA 90071Xxx Xxxx, as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco InternationalAFC Enterprises, Inc. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be legally and beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth hereinherein or in the Credit Agreement, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx 100 Xxxxxxx Xxxxxx, Los AngelesXxxxxx, CA 90071Xxxxxxxxxxxxx, as xx a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account (Account #533-04379), designated as "Varco InternationalZilog, Inc. Inc., Collateral AccountAccount in favor of BankBoston, N.A.". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx Xxxxxx, Los Angeles, CA 90071_____________________________________________, as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco International, Inc. DMAC Acquisition Corp. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party Collateral Agent is hereby authorized to establish and maintain at its custodian office at 000 Xxxxx Xxxxxxxx Bank if New York, 0 Xxxx Xxxxxx, Los AngelesXxx Xxxx, CA 90071Xxx Xxxx 00000, as a blocked account in the name of Secured Party Collateral Agent and under the sole dominion and control of Secured PartyCollateral Agent, a restricted deposit account designated as "Varco International, Inc. Collateral AccountMGT NY Special Loan Account # 190159.". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor Pledgors but shall be held in the name of Secured Party Collateral Agent hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor Pledgors shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx Xxxxxx, Los Angeles, CA 90071the Funding and Payment Office, as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco International, Blackbaud Inc. Collateral Account". (b) The Collateral Account shall be operated in accordance with the terms of this Agreement. (c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor Pledgors but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor Pledgors shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account. (d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.