Common use of Lien on Deposit Accounts Clause in Contracts

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.

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 XxxxxxxxBorrower’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 XxxxxxLender’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-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 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-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 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 XxxxxxxxBorrower’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 XxxxxxLender’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.