Sole Dominion of Agent. During a Dominion Trigger Period, the Concentration Account and each Private Deposit Account shall at all times be under the sole dominion and control of the Agent. Each Credit Party hereby acknowledges and agrees that during a Dominion Trigger Period, (i) such Credit Party has no right of withdrawal from the Concentration Account, (ii) the funds on deposit in the Concentration Account shall at all times be collateral security for all of the Obligations and (iii) the funds on deposit in the Concentration Account shall be transferred daily to the Agent’s account for application to the Obligations.
Appears in 4 contracts
Samples: Loan Agreement (Capella Healthcare, Inc.), Loan and Security Agreement (Capella Healthcare, Inc.), Loan and Security Agreement (Lawton Surgery Investment Company, LLC)
