Primary Operating Accounts. Each Obligor shall, as of the Closing Date, open and maintain its primary operating accounts with the Agent; provided, however, that PAMT shall have 60 days after the Consolidated Amendment Date to open and maintain its primary operating accounts with the Agent.
Primary Operating Accounts. The Borrower shall maintain its primary operating deposit accounts at The Huntington National Bank.
Primary Operating Accounts. The Borrowers hereby agree to maintain the primary operating account for the business operations of the Borrowers with the Lender. The Borrowers recognize and agree that the pricing for the Revolving Credit Facility set forth herein is based on the assumption that the Borrowers will so maintain their primary operating accounts with the Lender, and that, in the event that the Borrowers fail to do so, the Lender may, among other things, adjust the applicable interest rate or fees in order to maintain its required rate of return.
Primary Operating Accounts. Establish and maintain at all times after the date hereof all of its primary operating accounts with the Lender, except that the Loan Parties may establish and maintain pxxxx cash accounts not exceeding $50,000 in aggregate cash balances at any time outstanding.
Primary Operating Accounts. The Borrower shall maintain its primary operating accounts with the Agent. At all times after 60 days following the Closing Date, at the request of the Agent, the Borrower shall cause to be delivered account control agreements, in form and substance satisfactory to the Agent, for any deposit account of the Borrower or any of its Subsidiaries (a) not maintained with the Agent, (b) with an average monthly balance in excess of $400,000 at any time and (c) for which the Agent does not already have an account control agreement. In addition, at all times after 60 days following the Closing Date, the Borrower shall cause to be delivered to the Agent such other account control agreements as shall be necessary to ensure that, in the aggregate, there do not exist deposit accounts of the Borrower and its Subsidiaries (other than accounts maintained at the Agent or accounts for which there are in effect account control agreements in form and substance satisfactory to the Agent), that have average monthly balances, in the aggregate, in excess of $2,000,000.
Primary Operating Accounts. Establish and maintain at all times after the date hereof all of its primary operating accounts with the Lender, except that the Loan Parties may establish and maintain xxxxx cash accounts not exceeding $100,000 in aggregate cash balances at any time outstanding.
4.6. Amendment to Section 7.02 Section 7.02(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
(a) Investments held by the Borrower or such Subsidiary Guarantor in the form of (i) prime commercial paper due within one (1) year from the date of purchase and payable in United States dollars, (ii) certificates of deposit in United States commercial banks (having capital resources in excess of $20,000,000.00) due within one (1) year from the date of purchase and payable in United States dollars, (iii) obligations of the United States government or any agency thereof, (iv) obligations guaranteed directly by the United States government, (v) repurchase agreements of United States commercial banks (having capital resources in excess of $20,000,000.00) for terms of less than one (1) year, (vi) eurodollar deposits with maturities of ninety (90) days or less, (vii) investments in money market funds which at the time of investment are considered “Investment Grade” in accordance with the rating systems employed by either Xxxxx’x Investors Service, Inc or Standard & Poor’s, or (viii) securities issued or fully guaranteed by any state, commonwealth or territory of the United States or by any political subdivision or taxing authority of any such state, commonwealth or territory, in each case which at the time of investment are considered “Investment Grade” in accordance with the rating systems employed by either Xxxxx’x Investors Service, Inc or Standard & Poor’s;
4.7. Amendments to Section 7.03
(a) Section 7.03(e) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Primary Operating Accounts. Cause Aeroflex and each Material Domestic Subsidiary to maintain primary operating accounts with one or more of the Banks.
Primary Operating Accounts. The Borrowers (excluding Dauphin and Pamarco Europe) shall maintain all of their primary operating accounts with the Bank.
Primary Operating Accounts. The Obligors shall maintain their primary operating accounts with BankBoston (or its successor in interest) at all times during the term hereof, and BankBoston (and its successor) shall provide the Obligors' cash management services.
Primary Operating Accounts. The Borrowers shall at all times maintain their primary deposit and operating accounts, cash management operations and collection/lockbox services with the Lender. The Borrowers recognize and agree that the pricing for the Revolving Credit Facility set forth herein is based on the assumption that the Borrowers will maintain their primary deposit and operating accounts with the Lender, and that, in the event that the Borrowers fail to do so, the Lender may, among other things, adjust the applicable interest rate or fees in order to maintain its required rate of return. KEYW and Subsidiaries Credit and Security Agreement
