Examples of Cash Control Period in a sentence
Funds on deposit in a bank account of Borrower shall be transferred on a daily basis to the Concentration Account (or, at the Administrative Agent’s option during a Cash Control Period, to the Administrative Agent’s Bank Account) pursuant to the terms of a Deposit Account Control Agreement or Deposit Account Restriction Agreement, as applicable.
Without ODS this would results in curtailment during some hours followed by generation of electricity by the Fuel Cells.
During a Cash Control Period, Lender shall have the right, at Lender’s election in its sole discretion, to require that funds on deposit in a Blocked Account be transferred on each Business Day as directed by Lender pursuant to the terms of the applicable Deposit Account Control Agreement, and Borrower agrees to take all actions required by Lender or by any bank at which any Blocked Account is maintained in order to effectuate the transfer of funds in this manner.
During a Cash Control Period, the Administrative Agent shall have the right, at the Administrative Agent’s election in its sole discretion, to require that funds remaining on deposit in the Concentration Account be transferred to the Administrative Agent’s Bank Account on each Business Day, and the Borrowers agree to take all actions reasonably required by the Administrative Agent or by any bank at which the Concentration Account is maintained in order to effectuate the transfer of funds in this manner.
Following the termination of any Cash Control Period, Lender agrees to take all actions required by Borrower to rescind or nullify any automatic transfers of funds deposited into any Blocked Account and to give Borrower control over the Blocked Accounts and all funds deposited therein, subject to the terms of a Deposit Account Control Agreement.