Common use of Lien on Deposit Accounts Clause in Contracts

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 payment and performance of the Obligations, each Credit Party Obligor hereby grants to Agent, for the benefit of itself as Agent and for the Pro Rata benefit of LendersSecured Parties, a continuing security interest in and Lien upon, and hereby collaterally assigns to Agent, upon all of such Credit PartyObligor’s right, title and interest in and to each Deposit Account of such Credit Party (other than Excluded Cash Accounts) Obligor 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, but excluding (i) Deposit Accounts solely holding cash collateral permitted as a Lien under Section 10.2.5(viii), (ii) Deposit Accounts exclusively used for worker’s compensation programs, payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of such Obligor’s employees, and (iii) other Deposit Accounts containing from time to time no more than $100,000. In connection with the foregoing, each Credit Party Obligor 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 that an Event of Default exists and without further notice to such Credit Party Obligor (such notice being hereby expressly waived), all balances in each Deposit Account maintained by Credit Party such Obligor 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 Obligor hereby irrevocably appoints Agent as such Credit PartyObligor’s attorney-in-fact to, following the occurrence and during the continuance of at any time that an Event of Default, Default exists 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 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 lien upon, and hereby collaterally assigns to Agent, all of such Credit Party’s Borrower'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 depositeddeposited and such blocked accounts and special lockbox accounts. In connection with the foregoing, each Credit Party 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 such Credit Party Borrower (such notice being hereby expressly waived), all balances in each Deposit Account maintained by Credit Party such Borrower 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 's other rights and remedies in regard to the foregoing Property as proceeds of Collateral. Each Credit Party Borrower hereby irrevocably appoints Agent as such Credit Party’s Borrower's attorney-in-fact to, following the occurrence and during the continuance of an Event of Default, 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 '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 '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 '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 payment and performance of the Obligations, each Credit Party Borrower hereby grants to Agent, for the benefit of itself as Agent and for the Pro Rata benefit of Lenders, Lender a continuing security interest in and Lien upon, and hereby collaterally assigns to Agent, upon all of such Credit PartyBorrower’s right, title and interest in and to each Deposit Account of such Credit Party (other than Excluded Cash Accounts) 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, but excluding (i) Deposit Accounts solely holding cash collateral permitted as a Lien under Section 10.2.5(ix), and (ii) Deposit Accounts exclusively used for worker’s compensation programs, payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of such Borrower’s employees, and (iii) other Deposit Accounts containing from time to time no more than $100,000. In connection with the foregoing, each Credit Party Borrower hereby authorizes and directs each such bank or other depository to pay or deliver to Agent Lender upon its written demand therefor made at any time upon the occurrence and during the continuation of that an Event of Default exists and without further notice to such Credit Party Borrower (such notice being hereby expressly waived), all balances in each Deposit Account maintained by Credit Party such Borrower with such depository for application to the Obligations then outstanding, and the rights given Agent Lender in this Section 6.4 shall be cumulative with and in addition to AgentLender’s other rights and remedies in regard to the foregoing Property as proceeds of Collateral. Each Credit Party Borrower hereby irrevocably appoints Agent Lender as such Credit PartyBorrower’s attorney-in-fact to, following the occurrence and during the continuance of at any time that an Event of Default, Default exists to collect any and all such balances to the extent any such payment is not made to Agent Lender by such bank or other depository after demand thereon is made by Agent Lender pursuant hereto.