Maintenance of Concentration Account. Maintain with the Administrative Agent an account (the “Concentration Account”) to be used by the Borrowers as their principal domestic concentration or sweep account(s) into which shall be deposited upon the effectiveness of the blocked account agreements referred to in Section 5.08, the available balances from the Borrowers’ operating accounts at the end of each Business Day, net of disbursements paid in the ordinary course of business during such Business Day. Amounts on deposit in the Concentration Account shall be applied as set forth in Section 2.14(c).
Appears in 2 contracts
Samples: Credit and Guaranty Agreement (Federal Mogul Corp), Revolving Credit and Guaranty Agreement (Federal Mogul Corp)
Maintenance of Concentration Account. Maintain Establish and maintain with the Revolving Administrative Agent an account (the “Concentration Account”) to be used by the Borrowers Loan Parties as their principal domestic concentration or sweep account(s) into which shall be deposited upon the effectiveness of the blocked account agreements referred to in Section 5.08, during each Sweep Period the available balances from the BorrowersLoan Parties’ operating accounts at the end of each Business Day, net of disbursements paid in the ordinary course of business during such Business Day. Amounts on deposit in the Concentration Account shall be applied as set forth in Section 2.14(c)2.15(c) during each Sweep Period.
Appears in 2 contracts
Samples: Term Loan and Revolving Credit Agreement (Federal-Mogul Holdings Corp), Term Loan and Revolving Credit Agreement (Federal Mogul Corp)
Maintenance of Concentration Account. Maintain The Borrowers will maintain with the Administrative Agent an account (the “Concentration Account”) or accounts to be used by the Borrowers as their principal domestic concentration or sweep account(s) into which shall be deposited upon the effectiveness of the blocked account agreements referred to in Section 5.08, the available balances from the Borrowers’ operating accounts at the end of each Business Day, net of disbursements paid in the ordinary course of business during such Business Day. Amounts on deposit in the Concentration Account shall be applied as set forth in Section 2.14(c).
Appears in 1 contract
Samples: Revolving Credit Agreement (Interstate Bakeries Corp/De/)
Maintenance of Concentration Account. Maintain with the Administrative Agent an account (the “Concentration Account”) or accounts to be used by the Borrowers as their principal domestic concentration or sweep account(s) into which shall be deposited upon the effectiveness of the blocked account agreements referred to in Section 5.08, the available balances from the Borrowers’ operating accounts at the end of each Business Day, net of disbursements paid in the ordinary course of business during such Business Day. Amounts on deposit in the Concentration Account shall be applied as set forth in Section 2.14(c).
Appears in 1 contract
Samples: Revolving Credit, Term Loan and Guaranty Agreement (Federal Mogul Corp)