WildBlue Deposit Account Sample Clauses

WildBlue Deposit Account. Solely as security for the Contractor’s obligations to make payments under the Contingent Note as set forth in Paragraph 7 above, the Contractor agrees that all receivable payment amounts (hereinafter referred to as the “WildBlue Receivables”) to which the Contractor is entitled under its Contract originally dated as of November 2, 1999, and as amended and restated as of June 26, 2003 with WildBlue Communications, Inc. (“WildBlue”) will be paid directly by WildBlue to the Depository Bank in bank account no. 840113021 (the “WildBlue Deposit Account”). The WildBlue Deposit Account shall be pledged to INTELSAT pursuant to the Security Agreement that shall obligate the Contractor to (i) deposit all WildBlue Receivables directly into the WildBlue Deposit Account; (ii) enter into a control agreement (the “WildBlue Deposit Account Control Agreement”) with INTELSAT, the Depository Bank and Bank of America, N.A. (“BoA”), as junior lien holder with respect to the WildBlue Depository Account; and, (iii) grant INTELSAT a first priority security interest in the WildBlue Deposit Account and WildBlue Receivables pursuant to the Intercreditor Agreement, dated as of June 26, 2003 among INTELSAT, BoA and the Contractor, whereby BoA agrees to subordinate its security interest to INTELSAT’s security interest in the WildBlue Deposit Account and the WildBlue Receivables giving INTELSAT a first priority security interest thereon as collateral for the obligations under the Contingent Note. The WildBlue Deposit Account Control Agreement shall (i) permit the Contractor to withdraw from the WildBlue Deposit Account, free and clear of all claims and encumbrances, any and all amounts received therein as and when received until such time that INTELSAT submits an Instruction Order (as defined in the WildBlue Deposit Account Control Agreement) to the Depository Bank (with a copy to the Contractor) for payment of a delinquent replenishment amount that the Contractor fails to pay pursuant to the Contingent Note (including Replenishment Default Interest). Upon full payment of the delinquent replenishment amount, the Contractor shall be permitted to withdraw from the WildBlue Deposit Account, free and clear of all claims and encumbrances any and all amounts received therein as and when received.”
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Related to WildBlue Deposit Account

  • Eligible Deposit Account Either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution with corporate trust powers organized under the laws of the United States or any state thereof, or the District of Columbia, and whose deposits are insured by the Federal Deposit Insurance Corporation, provided that such institution also has a combined capital and surplus of at least $100,000,000 and a rating of A or better from the Thomson Bank Watch.

  • Deposit Account (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and the Certificateholders, the Deposit Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • Deposit Accounts; Securities Accounts The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Deposit Accounts; Etc (i) Schedule 5 hereto accurately sets forth, as of the date of this Agreement, for each Grantor, each deposit account maintained by such Grantor (including a description thereof and the respective account number) and the name of the respective bank with which such deposit account is maintained. Subject to Section 4(c) hereof and the terms of the Intercreditor Agreement, for each deposit account that is Collateral (other than the Cash Collateral Account or any other deposit account maintained with the Collateral Agent), the respective Grantor shall use commercially reasonable efforts to cause the bank with which the deposit account is maintained to execute and deliver to the Collateral Agent, (x) in the case of an account located at a bank which is a lender under the Senior Credit Facility, within 30 days after the date of this Agreement (or, if later, the date of the establishment of the respective deposit account), or (y) in the case of an account located at a bank which is a not lender under the Senior Credit Facility, within 45 days after the date of this Agreement (or, if later, the date of the establishment of the respective deposit account), a “control agreement” in form and substance consistent with the deposit account control agreements entered into by the Company pursuant to the Senior Credit Facility, or otherwise acceptable to the Collateral Agent. Subject to Section 10(n)(iii) hereof, if any bank with which a deposit account is maintained refuses to, or does not, enter into such a “control agreement”, then the respective Grantor shall promptly (and in any event within 30 days after the date of this Agreement or, if later, 30 days after the establishment of such account) close the respective deposit account and transfer all balances therein to the Cash Collateral Account or another deposit account meeting the requirements of this Section 4(q). If any bank with which a deposit account is maintained refuses to subordinate all its claims with respect to such deposit account to the Collateral Agent’s security interest therein on terms satisfactory to the Collateral Agent, then the Collateral Agent, at its option, may (x) require that such deposit account be terminated in accordance with the immediately preceding sentence or (y) agree to a “control agreement” without such subordination, provided that in such event the Collateral Agent may at any time, at its option, subsequently require that such deposit account be terminated (within 30 days after notice from the Collateral Agent) in accordance with the requirements of the immediately preceding sentence.

  • Deposit Accounts Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Lender has an Account Control Agreement.

  • Deposit Accounts, Securities Accounts and Commodity Accounts Attached hereto as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity Accounts (each as defined in the Security Agreement) maintained by each Pledgor, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each account.

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Deposit Accounts; Credit Card Processors Open new DDAs (other than Excluded DDAs and Retail DDAs) unless the Loan Parties shall have delivered to the Agent appropriate Blocked Account Agreements consistent with the provisions of Section 6.12 and otherwise satisfactory to the Agent. No Loan Party shall maintain any bank accounts or enter into any agreements with Credit Card Issuers or Credit Card Processors other than the ones expressly contemplated herein or in Section 6.12 hereof.

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