Restricted Account. Subject to the terms of that certain Blocked Deposit Account Control Agreement dated on or about the Effective Date among Borrower, Citibank, N.A. (“Bank”) and Lender (the “Restricted Account Agreement”):
Restricted Account. Holder acknowledges that the Company will issue the Restricted Stock covered by this Agreement in the name of Holder; provided, however, such Restricted Stock shall be held in an uncertificated restricted account in the custody of the Company and shall be subject to the terms of this Agreement. Holder further acknowledges that the Restricted Stock shall be held in the Company’s custody until the restrictions lapse. Holder’s acceptance of this Agreement constitutes an irrevocable endorsement of a stock power to the Company in the event any or all of the Restricted Stock is forfeited. In the event of forfeiture, the forfeited shares of Restricted Stock shall be returned to the Company.
Restricted Account. (i) The Guarantor shall maintain the Restricted Account pursuant to the Restricted Cash Account Agreement and the Security Agreement and in accordance with the following terms:
Restricted Account. 10.4.1 Prior to the expiry of the Security Period, the Company shall not be entitled to receive, withdraw or otherwise transfer any credit balance from the Restricted Account except with the prior consent of the Secured Parties.
Restricted Account. Lender shall establish on its books a demand deposit account for Borrowers into which Borrowers may deposit funds. Withdrawals from the Restricted Account may only be made on five (5) Business Days' prior written notice to Lender, and will be permitted only to the extent that any such withdrawal, in whole or in part, will not cause the principal amount of the Loan to exceed the Borrowing Base. Lender shall, at all times, retain its right of setoff against the Restricted Account. 13.
Restricted Account. (a) In order to secure Niobe’s obligation hereunder, as soon as practicable, and in no event later than ten (10) Business Days from the date hereof, Niobe shall deliver certificate(s) representing an aggregate of 4,916,667 shares of Common Stock (the “Restricted Shares”), together with any other documentation required, to the Company’s Stock Transfer Agent, to be deposited in a restricted account (the “Restricted Account”) to facilitate the purchase and transfer to the Company of the Niobe Share Portion as of each Conversion Date, if any.
Restricted Account. Except as otherwise permitted by Xxxxxx, maintain the Restricted Account at balance of no less than $1,000,000.00 (excluding any amounts attributable to the Subsequent Disbursement) for all periods during which Borrower shall have any outstanding loan obligations to Lender or shall have the right to draw upon any credit obligations of Lender. The Restricted Account shall at all times be under the sole dominion and control of Lender, and neither Borrower nor any other person or entity acting through or under Borrower, shall have any control over the use of, or any right to withdraw any amount from, the Restricted Account. In the event Borrower maintains compliance with all of the financial covenants set forth in Section 4.12 (below) for four (4) consecutive Measurement Dates, Lender shall release $500,000.00 of the balance of the Restricted Account to Borrower, with the remaining balance to be released to Borrower upon Borrower maintaining compliance with all such financial covenants for eight (8)
Restricted Account. PFG reserves, in its sole discretion, the right to restrict, terminate and/or suspend Customers access to BEST Direct. Customer acknowledges that if PFG places a restriction on Customers Account, Customer will not be able to use BEST Direct online trading function. Customer agrees to hold PFG harmless for any and all claims, losses, liability, costs and expenses (including but not limited to attorneys fees) arising from PFGs restriction of Customers access to BEST Direct. PFG xxxxx ves, in its sole discretion, the right to terminate Customers access to BEST Direct without notice for any reason, including but not limited to unauthorized use of Customers access number(s), and/or account number(s), or breach of this Agreement.
Restricted Account. 9 13. Closing ......................................................................................................................................... 9 14.
Restricted Account. Concurrently with the Closing, the Purchasers shall deposit $500,000 of the Purchase Price (the “Restricted Account Funds”) directly into a separately numbered account (the “Restricted Account”), in accordance with Schedule 4.24 hereto, to be held apart from the balance of the Purchase Price. While the Restricted Account Funds are held in the Restricted Account, the Company may not access or otherwise use the Restricted Account Funds for any purpose. The Restricted Account Funds may be released from the Restricted Account upon the approval of the Board of Directors. Once validly released from the Restricted Account, the Restricted Account Funds may be used by the Company for general corporate purposes and working capital, subject to the limitations contained in Section 4.6. For the avoidance of doubt, after the Closing and while the Restricted Account Funds are held by the Company in the Restricted Account, the Restricted Account Funds shall be regarded as cash on the Company’s balance sheet, and shall not be considered a liability to the Purchasers and the Purchasers shall have no right whatsoever to receive any portion of the Restricted Account Funds.
