Blocked Account Agreement means with respect to an account established by a Loan Party, an agreement, substantially in the form of Exhibit L hereto or otherwise in form and substance reasonably satisfactory to the Collateral Agent, establishing Control (as defined in the Security Agreement) of such account by the Collateral Agent and whereby the bank maintaining such account agrees, during any Cash Dominion Trigger Period, to comply only with the instructions originated by the Collateral Agent without the further consent of any Loan Party.

Blocked Account Agreement has the meaning assigned to such term in Section 2.21(a).

Blocked Account Agreement means any agreement among a Borrower, the First Lien Agent and a Clearing Bank, concerning the collection of payments which represent the proceeds of Accounts or of any other Collateral.

Examples of Blocked Account Agreement in a sentence

Each Blocked Account shall at all times be subject to a Blocked Account Agreement.
Each such Blocked Account Agreement with respect to any Blocked Account shall provide, among other things, that from and after the date thereof the bank at which any such Blocked Account is maintained, agrees to forward immediately all amounts in each such account to the Concentration Account.
After entering into the Blocked Account Agreement, there shall be at all times thereafter at least one Blocked Account.
If the Servicer is terminated, the successor Servicer will assume all of the rights and obligations of the outgoing Servicer under the Blocked Account Agreement subject to the terms hereof.
The outgoing Servicer will, upon request of the Indenture Trustee, but at the expense of the outgoing Servicer, deliver to the successor Servicer all documents and records relating to each such Blocked Account Agreement and an accounting of amounts collected and held by the Processing Bank and otherwise use its best efforts to effect the orderly and efficient transfer of any Blocked Account Agreement to the successor Servicer.

More Definitions of Blocked Account Agreement

Blocked Account Agreement shall have the meaning assigned to such term in Section 5.11(a).

Blocked Account Agreement means any agreement executed by a depository bank and the Administrative Agent, for the benefit of the Secured Parties (or executed by the Former Agent and such depository bank has acknowledged in writing to the satisfaction of the Administrative Agent the resignation of the Former Agent and the succession to such role by the Administrative Agent), and acknowledged and agreed to by a Loan Party, in form acceptable to the Administrative Agent in its sole discretion which provides the Administrative Agent with “control” (within the meaning of the UCC) of the applicable Blocked Account.

Blocked Account Agreement shall have the meaning provided in Section 9.15(a).

Blocked Account Agreement as defined in Subsection 4.16(b)(iii).

Blocked Account Agreement means the Administrative Agent’s standard blocked account agreement (or similar agreement) signed by the Borrower relating to the Commercial Blocked Account, the Government Blocked Account, and payments on all such Accounts, as the same may be modified, supplemented, restated or amended from time to time, all of the foregoing which must be in form and substance reasonably acceptable to the Administrative Agent.

Blocked Account Agreement means with respect to an account established by a Loan Party, an agreement, in form and substance reasonably satisfactory to the Agent, establishing control (as defined in the UCC) of such account by the Agent and whereby the bank maintaining such account agrees, upon the occurrence and during the continuance of a Cash Dominion Event, to comply only with the instructions originated by the Agent without the further consent of any Loan Party.

Blocked Account Agreement means, with respect to any account, a blocked account agreement in favor of the Collateral Agent, all in form and substance reasonably satisfactory to the Collateral Agent.