Security Interest in Accounts. You grant and assign us a security interest in each of the Accounts designated as an Account on the Sweep Service Form together with interest accruing, all proceeds and deposits to the Account(s), and all renewals, replacements and substitutions of any of such Account(s). Thus, you agree and acknowledge that Sweeps from an Account will not be deemed to be a violation of the one-action rule and that such withdrawal Sweeps shall not be deemed to be a waiver of any defaults that might exist under the Loan. Bank Control Account. This Agreement includes but is not limited to all Sweeps made by us from a Control Account set up by us as Lender including but not limited to the Asset Based Lending or other lending department of Bank, between you and us (“Bank Control Account”), and as such Bank Control Accounts, are included, on the Sweep Service Form, and in that case, also subject to the Bank Control Account Authorization Addendum hereto.
Security Interest in Accounts. In order to secure EVERTEC’s obligations under this Agreement and BPPR’s rights to indemnity and reimbursement pursuant to Section 9.4, and solely for such purposes, EVERTEC hereby grants to BPPR a contractual possessory security interest in, and hereby pledges to BPPR, all of EVERTEC’s right, title and interest, of whatever nature, whether now owned or existing or hereafter created, acquired or arising, in and to (i) the EVERTEC Reserve Account, the Hold Account and, to the extent set forth in Section 2.10, above, the Merchant Reserve Accounts, (ii) all funds in and proceeds of such accounts and (iii) all writings evidencing such accounts. EVERTEC agrees to take all actions as may be reasonably required from time to time to establish and maintain such security interests as set forth hereinabove. EVERTEC shall execute all documents necessary to grant and perfect a security interest in favor of BPPR under Puerto Rico law.
Security Interest in Accounts. Borrower hereby grants to Lender a first-priority security interest in the Deposit Accounts and in all deposits at any time contained therein and in the proceeds thereof. Borrower will take all actions necessary to maintain in favor of Lender a perfected first priority security interest in all such Deposit Accounts. Borrower hereby authorizes Lender to file UCC Financing Statements and continuations thereof to perfect Lender’s security interest in the Deposit Accounts and all deposits at any time contained therein and the proceeds thereof. Borrower shall not further pledge, assign or grant any security interest in the Deposit Accounts or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC Financing Statements, except those naming Lender as the secured party, to be filed with respect thereto.
Security Interest in Accounts. Borrower hereby grants a security interest in the Borrower’s Funds Account, any Cash Collateral and the Checking Account, to Issuer to secure all of Borrower’s obligations under the Loan Documents, and Issuer hereby assigns such security interest to Trustee on behalf of the Bondowners.
Security Interest in Accounts. Client grants Bank a security interest in all Accounts or other deposits (whether general or special) of Client’s at Bank, and in all funds in such Accounts or other deposits, to secure Client’s obligations to Bank under this Agreement. This security interest will survive termination of this Agreement until all obligations to Bank are paid in full. Bank may hold any funds on deposit with Bank by Client after termination of this Agreement for up to thirty (30) days following the expiration of any return or chargeback rights regarding any transaction, Payment Order, or ACH Entry processed by Client using the Services or, if later, until any other claims to such funds have expired.
Security Interest in Accounts. In order to secure CCC's obligations under this Agreement and Bank's rights to indemnity and/or reimbursement pursuant to Section 8.5 of this Agreement, and solely for such purpose, CCC hereby grants to Bank a contractual possessory security interest in, and hereby pledges to Bank all of CCC's right, title and interest, of whatever nature, in and to, (i) all deposit accounts now or hereafter domiciled at Bank in which CCC has an interest, specifically including but not limited to the CCC Reserve Account, the Operating Account, the Hold Account and the Merchant Reserve Account, (ii) all funds in and proceeds of such accounts, and (iii) all writings evidencing such accounts. CCC agrees to take all actions as may be reasonably required from time to time to establish and maintain such security interests as set forth hereinabove.
Security Interest in Accounts. Assuming the retention of funds in the Collection Account, the Note Distribution Account and the Spread Account and the acquisition of Eligible Investments, in each case, in accordance with the Transaction Documents, such funds and Eligible Investments will be subject to a valid and perfected, first priority security interest in favor of the Collateral Agent on behalf of Financial Security and the Trustee for the benefit of the Noteholders.
Security Interest in Accounts. (a) The Borrower shall establish and deliver to the Collateral Agent a Control Agreement with respect to all deposit, securities and commodities accounts, including those accounts listed on Schedule 8.26, maintained by the Borrower other than those accounts that are Excluded Accounts. The Borrower shall, at all times ensure that, by entering into such Control Agreements, all deposit, securities and commodities accounts of such Persons are subject to a valid and perfected first priority security interest in favor of the Collateral Agent for the benefit of the Secured Parties. So long as no Default or Event of Default has occurred and is continuing, the Borrower may withdraw amounts from the Cash Controlled Accounts and the Citibank Operating Account to make payments consistent with the Budget, provided that withdrawals from the DIP Proceeds Controlled Account shall be subject to the restrictions set forth in Section 10.23.
(b) If no Event of Default has occurred and is continuing, the Borrower may establish new deposit accounts, securities accounts or commodities accounts in addition to those listed on Schedule 8.26, so long as, prior to the time any such new account is established: (i) the Borrower has delivered to the Collateral Agent an amended Schedule 8.26 including such account and (ii) the Borrower has delivered to the Collateral Agent a Control Agreement with respect to such account to the extent such account is not an Excluded Account; provided that the Borrower shall not allow any Collections or other amounts or property to be deposited or credited to any such account until such time as a Control Agreement has been established and delivered to the Collateral Agent.
(c) The Collateral Agent agrees not to issue a Control Notice unless an Event of Default has occurred and is then continuing. In the event the Collateral Agent issues a Control Notice under any Control Agreement, all Collections or other amounts or property subject to such Control Agreement shall be transferred as directed by the Collateral Agent pursuant to the applicable Control Agreement.
(d) If, notwithstanding the provisions of this Section 9.15, after the occurrence and during the continuance of an Event of Default, the Borrower receives or otherwise has dominion over or control of any Collections or other amounts, the Borrower shall hold such Collections and amounts in trust for the Collateral Agent and shall not commingle such Collections with any other funds of the Borrower or ...
Security Interest in Accounts. Loan Parties hereby grant to Agent a security interest in all rights of Loan Parties in and to the Reserve Funds and the Accounts and all sums on deposit therein. Loan Parties shall cause all banks or financial institutions other than Agent which are holding any Account to execute and deliver to Agent account control agreements with respect to such Reserve Funds and Accounts in form and substance satisfactory to Agent. Subject to the rights of Loan Parties (or Property Manager) expressly set forth herein to make withdrawals from the Accounts, and subject to the Manager SNDA, Loan Parties hereby acknowledge and agree that Agent shall have sole dominion and control of the Accounts as more particularly described in the Clearing Account Agreement and the Cash Management Agreement. Loan Parties shall not close any Account without obtaining the prior written consent of Agent, or to the extent that such closed Account is not immediately replaced with another Account which shall be subject to a security interest in favor of Agent, the Requisite Lenders. Loan Parties shall not open any Account other than the Accounts open as of the Closing Date (whether in substitution of another Account or otherwise) (a) without delivering to Agent at least ten (10) Business Days prior notice of Loan Parties’ intention to open a new Account and (b) unless, (i) the bank or other financial institution at which such Account is to be opened is reasonably acceptable to Agent and (ii) prior to the opening of such Account, Loan Parties shall have delivered to Agent an account control agreement with respect to such Account in form and substance satisfactory to Agent. Loan Parties shall maintain the Accounts and shall pay all fees and charges payable to the depository bank with respect thereto when due, and shall keep in full force and effect the Clearing Account Agreement and the Cash Management Agreement with respect thereto. All interest earned on amounts deposited in any Accounts shall be re-deposited therein and become part thereof. No funds in any Account may be commingled with any other funds of Loan Parties, Property Manager, any Affiliate of Loan Parties or Property Manager or with any other Person or with any funds contained in any other Account; provided, that, the funds in any Account held by Agent, may be commingled with the general funds of Agent. Agent shall not be liable for any loss of interest on or any penalty or charge assessed against the funds in, payable on, or credi...
Security Interest in Accounts. All amounts in the Accounts ----------------------------- shall be held by the Collateral Agent on behalf of the Beneficiaries. The Company and the Beneficiaries acknowledge and agree that the Collateral Agent shall have exclusive possession of and sole dominion and control over and the exclusive right of withdrawal from the Accounts as provided herein. The Company shall have no right to withdraw, or to cause the withdrawal of funds held in the Accounts or to direct the investment of such funds or the liquidation of any Permitted Investments, in each case other than as expressly provided herein. Amounts deposited in the Accounts shall be applied exclusively as provided in this Agreement. In the event either the Company or any Beneficiary receives any amounts which should have been deposited to the Collection Account, the Company or such Beneficiary, as the case may be, shall hold the same in trust for and on behalf of the Beneficiaries and promptly deliver the same to the Collateral Agent in the form received (with any necessary endorsement) for deposit in the Collection Account and application in accordance with this Agreement.
