Other Deposit and Securities Accounts. Maintain any deposit accounts or accounts holding securities owned by Borrower except (i) Deposit Accounts and investment/securities accounts as set forth in the Supplement, and (ii) other Deposit Accounts and securities/investment accounts, in each case, with respect to which Borrower and Lender shall have taken such action as Lender reasonably deems necessary to obtain a perfected first security interest therein.
Other Deposit and Securities Accounts. Maintain any deposit accounts or accounts holding securities owned by Borrower except (i) Deposit Accounts and investment/securities accounts as set forth in the Supplement, and (ii) other Deposit Accounts and securities/investment accounts, in each case, with respect to which Borrower and Lender shall have taken such action as Lender reasonably deems necessary to obtain a perfected first priority security interest therein. The provisions of the previous sentence shall not apply to Deposit Accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees.
Other Deposit and Securities Accounts. Maintain any Deposit Accounts or accounts holding securities owned by Xxxxxxxx, except (i) Deposit Accounts and investment/securities accounts maintained as of the Closing Date and set forth in the Supplement, and (ii) other Deposit Accounts and securities/investment accounts established and maintained after the Closing Date, in each case, with respect to which Borrower and Lender shall have taken such action as Lender reasonably deems necessary to obtain a perfected first priority security interest therein, subject to Permitted Liens. The provisions of the previous sentence shall not apply to Deposit Accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Lender as such.
Other Deposit and Securities Accounts. Maintain any deposit accounts or accounts holding securities owned by Borrower except (i) Deposit Accounts and investment/securities accounts as set forth in the Supplement, and (ii) other Deposit Accounts and securities/investment accounts, in each case, with respect to which Borrower and Lender shall have taken such action as Lender reasonably deems necessary to obtain a perfected first security interest therein. Notwithstanding anything contained herein to the contrary, including the Borrower’s grant of a security interest in Section 2.10(a), Lender agrees that, in the event the Lender instructs any depositary bank to (i) deliver funds to the Lender or (ii) not to permit the Borrower to withdraw funds from any Deposit Account, the Borrower may withdraw, for a period not to exceed 30 days commencing on the date Lender delivers such instructions, an amount in the Deposit Accounts not to exceed $250,000 for the purpose of meeting Borrower’s then current payroll obligations or, with Lender’s consent, other outstanding obligations of Borrower, and that any such withdrawal shall be free and clear of any interest of the Lender in such funds. The Lender shall provide instruction to such depositary bank in order to permit the Borrower to make such withdrawal.
Other Deposit and Securities Accounts. Maintain any Deposit Accounts or accounts holding securities owned by Borrower except (i) Deposit Accounts and investment/securities accounts as set forth in the Supplement, and (ii) other Deposit Accounts and securities/investment accounts, in each case, with respect to which Borrower and Lender shall have taken such action as Lender reasonably deems necessary to obtain a perfected first priority security interest therein, subject to Permitted Liens. The provisions of the previous sentence shall not apply to (i) Deposit Accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and (ii) Deposit Accounts subject to Liens permitted by clause (p) of the definition of Permitted Liens; in each case of (i) and (ii), as identified to Lender as such (collectively, the “Excluded Accounts”).
Other Deposit and Securities Accounts. Maintain any Deposit Accounts or accounts holding securities owned by Borrower except (i) Deposit Accounts and investment/securities accounts as set forth in the Supplement, and (ii) other Deposit Accounts and securities/investment accounts, in each case, with respect to which Borrower and Lender shall, within sixty (60) days of the Closing Date (or such longer period as may be agreed to by Lender in its sole discretion), have executed deposit account control agreement(s) with respect to each of Borrower’s Deposit Accounts, other than with respect to Excluded Accounts. The provisions of the previous sentence shall not apply to Deposit Accounts (i) exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Lender as such, (ii) customer accounts, (iii) zero balance accounts, (iv) accounts with equal to or less than $300,000 outstanding, in the aggregate, (v) Excluded Lease Account or (vi) accounts held outside of the United States (clauses (i)—(vi), collectively, “Excluded Accounts” and each an “Excluded Account”).
Other Deposit and Securities Accounts. Maintain any Deposit Accounts or accounts holding 16 securities owned by Borrower except (i) Deposit Accounts and investment/securities accounts as set forth in Schedule 3, and (ii) other Deposit Accounts and securities/investment accounts, in each case, with respect to which Borrower and Lender shall have taken such action as Lender reasonably deems necessary to obtain a perfected first priority security interest therein, subject to Permitted Liens. The provisions of the previous sentence shall not apply to Deposit Accounts (x) exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees provided that the aggregate balance in such accounts does not exceed $100,000 for more than seven (7) consecutive days.
Other Deposit and Securities Accounts. Maintain any Deposit Accounts or accounts holding securities owned by Bxxxxxxx except (i) Deposit Accounts and investment/securities accounts as set forth in the Supplement, and (ii) other Deposit Accounts and securities/investment accounts, in each case, with respect to which Borrower and Agent shall have taken such action as Agent reasonably deems necessary to obtain a perfected first priority security interest therein, subject to Permitted Liens. The provisions of the previous sentence shall not apply to Deposit Accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Agent as such (all such accounts, “Excluded Accounts”).
Other Deposit and Securities Accounts. Maintain any Deposit Accounts or accounts holding securities owned by Loan Party except (i) Deposit Accounts and investment/securities accounts as set forth in the Supplement with respect to which an account control agreement has been executed and delivered to Agent, and (ii) other Deposit Accounts and securities/investment accounts, in each case, with respect to which the Loan Party and Agent shall have taken such action as Agent reasonably deems necessary to obtain a perfected first priority security interest therein, including without limitation the execution and delivery of an account control agreement, subject to Permitted Liens. The provisions of the previous sentence shall not apply to (i) Deposit Accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of the Loan Party’s employees, (ii) Deposit Accounts subject to Liens permitted by clause (p) of the definition of Permitted Liens and (iii) accounts held with Comerica Bank as long as such accounts are closed within 45 days after the Closing Date; in each case of (i) and (ii), as identified to Agent as such (collectively, the “Excluded Accounts”).
Other Deposit and Securities Accounts. Maintain any Deposit Accounts or accounts holding securities owned by Borrower, except (i) Deposit Accounts and investment/securities accounts maintained as of the Closing Date and set forth in the Supplement, and (ii) other Deposit Accounts and securities/investment accounts established and maintained after the Closing Date, in each case, with respect to which Borrower and Lender shall have taken such action as Lender reasonably deems necessary to obtain a perfected first priority security interest therein, subject to Permitted Liens. The provisions of the previous sentence shall not apply to (i) a Deposit Account with a zero balance as of the Closing Date, each of which is to be closed no later than the date which is fourteen (14) days after the Closing Date (or such longer period as Lender may agree in its reasonable discretion), (ii) zero balance accounts with respect to which the funds therein are swept daily into a Deposit Account subject to an agreement that has perfected Lender’s Liens thereon by “control” in accordance with the UCC and (iii) Deposit Accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrower’s employees and, in each case, identified to Lender as such.
