Lien on Deposit Accounts. As additional security for the payment and performance of the Obligations, Borrower hereby grants to Agent, for the benefit of itself as Agent and for the benefit of the Secured Parties, a continuing security interest in and Lien upon, and hereby collaterally assigns to Agent, all of Borrower's right, title and interest in and to each Deposit Account of Borrower and in and to any deposits or other sums at any time credited to each such Deposit Account, including any sums in any blocked account or any special lockbox account and in the accounts in which sums are deposited. In connection with the foregoing, Borrower hereby authorizes and directs each such bank or other depository to pay or deliver to Agent upon its written demand therefor made at any time upon the occurrence and during the continuation of an Event of Default and without further notice to Borrower (such notice being hereby expressly waived), all balances in each Deposit Account maintained by Borrower with such depository for application to the Obligations then outstanding, and the rights given Agent in this Section 6.2 shall be cumulative with and in addition to Agent's other rights and remedies in regard to the foregoing Property as proceeds of Collateral. Borrower hereby irrevocably appoints Agent as Borrower's attorney-in-fact to collect any and all such balances to the extent any such payment is not made to Agent by such bank or other depository after demand thereon is made by Agent pursuant hereto.
Lien on Deposit Accounts. As additional security for the payment and performance of the Obligations, each Credit Party hereby grants to Agent, for the benefit of itself as Agent and for the Pro Rata benefit of Lenders, a continuing security interest in and Lien upon, and hereby collaterally assigns to Agent, all of such Credit Party’s right, title and interest in and to each Deposit Account of such Credit Party (other than Excluded Cash Accounts) and in and to any deposits or other sums at any time credited to each such Deposit Account, including any sums in any blocked account or any special lockbox account and in the accounts in which sums are deposited. In connection with the foregoing, each Credit Party hereby authorizes and directs each such bank or other depository to pay or deliver to Agent upon its written demand therefor made at any time upon the occurrence and during the continuation of an Event of Default and without further notice to such Credit Party (such notice being hereby expressly waived), all balances in each Deposit Account maintained by Credit Party with such depository for application to the Obligations then outstanding, and the rights given Agent in this Section 6.4 shall be cumulative with and in addition to Agent’s other rights and remedies in regard to the foregoing Property as proceeds of Collateral. Each Credit Party hereby irrevocably appoints Agent as such Credit Party’s attorney-in-fact to, following the occurrence and during the continuance of an Event of Default, collect any and all such balances to the extent any such payment is not made to Agent by such bank or other depository after demand thereon is made by Agent pursuant hereto.
Lien on Deposit Accounts. As additional security for the Full Payment and performance of the Obligations, each Borrower hereby grants to Lender a continuing security interest in and Lien upon, and hereby collaterally assigns to Lender, all of such Borrower’s right, title and interest in and to any deposits or other sums at any time credited to each Deposit Account. In connection with the foregoing, each Borrower hereby authorizes and directs each bank or other depository to pay or deliver to Lender upon its written demand therefor made at any time upon the occurrence and during the continuation of an Event of Default and without further notice to such Borrower (such notice being hereby expressly waived), all balances in each Deposit Account maintained by such Borrower with such depository for application to the Obligations then outstanding, and the rights given Lender in this Section shall be cumulative with and in addition to Lender’s other rights and remedies in regard to the foregoing Property as proceeds of Collateral. Each Borrower hereby irrevocably appoints Lender as their attomey-in-fact to collect any and all such balances to the extent any such payment is not made to Lender by such bank or other depository after demand thereon is made by Lender pursuant hereto.
Lien on Deposit Accounts. As additional security for the payment and performance of the Obligations, each Borrower hereby grants to Lender a continuing security interest in and Lien upon and hereby collaterally assigns to Lender all of such Borrower’s right, title and interest in and to each Deposit Account of Borrowers and in and to any deposits or other sums at any time credited to each such Deposit Account, including any sums in any blocked account or any special lockbox account and in the accounts in which sums are deposited. In connection with the foregoing, each Borrower hereby authorizes and directs each such bank or other depository to pay or deliver to Lender upon its written demand therefor made at any time upon the occurrence and during the continuation of an Event of Default and without further notice to such Borrower (such notice being hereby expressly waived), all balances in each Deposit Account maintained by Borrowers with such depository for application to the Obligations then outstanding, and the rights given Lender in this Section shall be cumulative with and in addition to Lender’s other rights and remedies in regard to the foregoing Property as proceeds of Collateral. Each Borrower hereby irrevocably appoints Lender as its attorney to collect any and all such balances to the extent any such payment is not made to Lender by such bank or other depository after demand thereon is made by Lender pursuant hereto.
Lien on Deposit Accounts. To further secure the prompt payment and performance of all Secured Obligations, Grantor hereby grants to Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all amounts credited to any Deposit Account of Grantor, including any sums in any blocked accounts or in any accounts into which such sums are swept. Subject to Section 3.4 hereof, each such Deposit Account shall be subject to a Deposit Account Control Agreement. Grantor authorizes and directs each bank or other depository to deliver to the account designated in such Deposit Account Control Agreement, on a daily basis, all balances in each Deposit Account maintained by Grantor with such depository for application to the Revolving Credit Obligations then outstanding in accordance with the Revolving Credit Agreement as in effect on the Closing Date. Grantor irrevocably appoints Agent as Grantor’s attorney-in-fact to collect such balances to the extent any such delivery is not so made.
Lien on Deposit Accounts. As additional security for the full payment and performance of the DIP Obligations, each Borrower hereby grants to Lender a continuing security interest in and Lien upon, and hereby collaterally assigns to Lender, all of such Xxxxxxxx’s right, title and interest in and to all deposit accounts and any deposits or other sums at any time credited to such deposit accounts. In connection with the foregoing, each Borrower hereby authorizes and directs each bank or other depository to pay or deliver to Lender upon its written demand therefor made at any time upon the occurrence and during the continuation of an Event of Default and without further notice to such Borrower (such notice being hereby expressly waived), all balances in each deposit account maintained by such Borrower with such depository for application to the DIP Obligations then outstanding, and the rights given Lender in this Section shall be cumulative with and in addition to Xxxxxx’s other rights and remedies in regard to the foregoing Property as proceeds of DIP Collateral. Each Borrower hereby irrevocably appoints Lender as their attorney- in-fact to collect any and all such balances to the extent any such payment is not made to Lender by such bank or other depository after demand thereon is made by Lender pursuant hereto. 8
Lien on Deposit Accounts. As additional security for the payment ------------------------ and performance of the Obligations, Borrower grants to Lender a security interest in and assigns to Lender all of Borrower's right, title and interest in and to each Deposit Account of Borrower and in and to any deposits or other sums at any time credited to each such Deposit Account, including any sums in any blocked account or any special lockbox
Lien on Deposit Accounts. Lien Perfection; Further Assurances
Lien on Deposit Accounts. As additional security for the Full Payment and performance of the Obligations, Borrower hereby grants to Agent, for the benefit of itself as Agent and for the Pro Rata benefit of Lenders, a continuing security interest in and Lien upon, and hereby collaterally assigns to Agent, all of Borrower's right, title and interest in and to any deposits or other sums at any time credited to each such Deposit Account. In connection with the foregoing, Borrower hereby authorizes and directs each such bank or other depository to pay or deliver to Agent upon its written demand therefor made at any time upon the occurrence and during the continuation of an Event of Default and without further notice to Borrower (such notice being hereby expressly waived), all balances in each Deposit Account maintained by such Borrower with such depository for application to the Obligations then outstanding, and the rights given Agent in this Section shall be cumulative with and in addition to Agent's other rights and remedies in regard to the foregoing Property as proceeds of
Lien on Deposit Accounts. 48 - 7.3. Other Collateral........................................................................... - 48 - 7.4. Lien Perfection; Further Assurances........................................................ - 48 - SECTION 8. COLLATERAL ADMINISTRATION........................................................................ - 49 - 8.1. General.................................................................................... - 49 - 8.2. Administration of Accounts................................................................. - 50 - 8.3. Payment of Charges......................................................................... - 51 - SECTION 9. REPRESENTATIONS, WARRANTIES AND COVENANTS........................................................ - 51 - 9.1. General Representations and Warranties..................................................... - 51 - 9.2. Affirmative Covenants...................................................................... - 53 - 9.3. Delivery of Financial Statements; Etc...................................................... - 54 - 9.4. Negative Covenants......................................................................... - 55 - SECTION 10. FINANCIAL COVENANTS............................................................................. - 56 - SECTION 11. EVENTS OF DEFAULT; REMEDIES..................................................................... - 57 - 11.1. Events of Default.......................................................................... - 57 - 11.2. Acceleration of Obligations; Termination of Commitments................................... - 59 - 11.3. Other Remedies............................................................................ - 59 -
