Common use of Establishment of Deposit Account Clause in Contracts

Establishment of Deposit Account. The Financial Institution hereby confirms and agrees that: (a) The Financial Institution has established account number [IDENTIFY ACCOUNT NUMBER] in the name “[IDENTIFY EXACT TITLE OF ACCOUNT]” (such account and any successor account, the “Deposit Account”) and the Financial Institution shall not change the name or account number of the Deposit Account or close the Deposit Account without the prior written consent of (i) the Collateral Agent and (ii) prior to delivery pursuant to Section 8(a) of a Blocking Notice delivered by the Collateral Agent in substantially the form set forth in Exhibit A (“Blocking Notice”), the Debtor; and (b) The Deposit Account is a “deposit account” within the meaning of Section 9-102(a)(29) of the UCC. Exhibit B-1

Appears in 1 contract

Samples: Guarantee and Collateral Agreement

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Establishment of Deposit Account. The Financial Institution hereby confirms and agrees that: (a) The Financial Institution has established account number [IDENTIFY ACCOUNT NUMBER] in the name “[IDENTIFY EXACT TITLE OF ACCOUNT]” (such account and any successor account, the “Deposit Account”) and the Financial Institution shall not change the name or account number of the Deposit Account or close the Deposit Account without the prior written consent of (i) the Collateral Administrative Agent and (ii) prior to delivery pursuant to Section 8(a7(a) of a Blocking Notice delivered by the Collateral Agent of Sole Control in substantially the form set forth in Exhibit A (“Blocking Notice”)hereto, the DebtorDebtors; and (b) The Deposit Account is a “deposit account” within the meaning of Section 9-102(a)(29) of the UCC. Exhibit B-1.

Appears in 1 contract

Samples: Credit Agreement (Technical Olympic Usa Inc)

Establishment of Deposit Account. The Financial Institution hereby confirms and agrees that: (a) The Financial Institution has established account number [IDENTIFY ACCOUNT NUMBER] in the name “[IDENTIFY EXACT TITLE OF ACCOUNT])” (such account and any successor account, the “Deposit Account”) and the Financial Institution shall not change the name or account number of the Deposit Account or close the Deposit Account without the prior written consent of (i) the Collateral Agent Agent, and (ii) prior to delivery pursuant to Section 8(a) of a Blocking Notice delivered by the Collateral Agent in substantially the form set forth in Exhibit A hereto (“Blocking Notice”), the Debtor; and (b) The Deposit Account is a “deposit account” within the meaning of Section 9-9- 102(a)(29) of the UCC. Exhibit B-1.

Appears in 1 contract

Samples: Pledge and Security Agreement (MacDermid Group Inc.)

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Establishment of Deposit Account. The Financial Institution hereby confirms and agrees that: (a) The Financial Institution has established account number [IDENTIFY ACCOUNT NUMBER] in the name “[IDENTIFY EXACT TITLE OF ACCOUNT]” (such account and any successor account, the “Deposit Account”) and the Financial Institution shall not change the name or account number of the Deposit Account or close the Deposit Account without the prior written consent of (i) the Collateral Agent and (ii) prior to delivery pursuant to Section 8(a) of a Blocking Notice delivered by the Collateral Agent in substantially the form set forth in Exhibit A (“Blocking Notice”), the Debtor; and (b) The Deposit Account is a “deposit account” within the meaning of Section 9-102(a)(29) of the UCC. Exhibit B-1.

Appears in 1 contract

Samples: Guarantee and Collateral Agreement (AAC Holdings, Inc.)

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