Representations and Warranties; Agreements with Other Persons. The Bank represents and warrants to the Secured Party that the Bank (i) is an organization engaged in the business of banking, (ii) maintains the Deposit Account as a demand deposit account or accounts in the ordinary course of the Bank’s business and (iii) has not entered into any currently effective agreement with any person under which the Bank may be obligated to comply with Disposition Instructions originated by a person other than the Debtor or the Secured Party. The Bank will not enter into any agreement with any person under which the Bank may be obligated to comply with Disposition Instructions originated by a person other than the Debtor or the Secured Party.
Appears in 4 contracts
Samples: Non Operated Deposit Account Control Agreement (Black Elk Energy Finance Corp.), Operated Deposit Account Control Agreement (Black Elk Energy Finance Corp.), Deposit Account Control Agreement (Nutrition 21 Inc)
Representations and Warranties; Agreements with Other Persons. The Bank represents and warrants to the Secured Party that the Bank (i) is an organization engaged in the business of banking, (ii) maintains the Deposit Account as a demand deposit account or accounts in the ordinary course of the Bank’s business and (iii) has not entered into any currently effective agreement with any person under which the Bank may be obligated to comply with Disposition Instructions originated by a person other than the Debtor Servicer or the Secured Party. The Bank will not not, during the term of this Agreement, enter into any agreement with any person under which the Bank may be obligated to comply with Disposition Instructions originated by a person other than the Debtor Servicer or the Secured Party.
Appears in 1 contract
Samples: Deposit Account Control Agreement (Rochdale High Yield Advances Fund LLC)
