Deposit Account Control Agreement definition

Deposit Account Control Agreement means an agreement, in form and substance satisfactory to the Agent (in its Permitted Discretion), among any Loan Party, a banking institution holding such Loan Party’s funds, and the Agent with respect to collection and control of all deposits and balances held in a deposit account maintained by any Loan Party with such banking institution, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof.

Deposit Account Control Agreement has the meaning assigned to such term in the Security Agreement.

Deposit Account Control Agreement means an agreement, in form and substance reasonably satisfactory to the Collateral Agent, among any Grantor, a banking institution holding such Grantor’s funds, and the Collateral Agent with respect to collection and control of all deposits and balances held in a deposit account maintained by any Grantor with such banking institution.

Examples of Deposit Account Control Agreement in a sentence

• For the duration of any Suspension Period, the Company shall cause the relevant Subject Excess Proceeds to be deposited into an account that is subject to a first priority perfected Lien (subject to Permitted Liens) for the benefit of the Collateral Agent under a Deposit Account Control Agreement.

• Within five (5) Business Days after the receipt of any Net Cash Proceeds from any disposition of the Equity Interests in SumUp constituting Excess Proceeds, the Company shall cause such proceeds to be deposited into an account that is subject to a first priority perfected Lien for the benefit of the Collateral Agent under a Deposit Account Control Agreement (which account may be established by the Company in advance of the date on which such deposit is due).

• Upon delivery of an Officer’s Certificate specifying that such Deposit Account Control Agreement is permitted pursuant to this Section 4.16(d), the Collateral Agent shall execute and deliver such Deposit Account Control Agreement.

More Definitions of Deposit Account Control Agreement

Deposit Account Control Agreement any Control Agreement entered into by the Administrative Agent, a Loan Party and a financial institution holding a Deposit Account of such Loan Party pursuant to which the Administrative Agent is granted “control” (for purposes of the UCC) over such Deposit Account.

Deposit Account Control Agreement means an agreement substantially in the form of Exhibit 5 hereto or such other form that is reasonably satisfactory to the Collateral Agent establishing the Collateral Agent’s Control with respect to any Deposit Account.

Deposit Account Control Agreement has the meaning specified in the Pledge and Security Agreement.

Deposit Account Control Agreement means a letter agreement, substantially in the form of Annex 1 (Form of Deposit Account Control Agreement) (with such changes as may be agreed to by the Administrative Agent), executed by the Grantor, the Administrative Agent and the relevant financial institution.

Deposit Account Control Agreement means a letter agreement, in form and substance reasonably satisfactory to the Collateral Agent, executed by the relevant Loan Party, the Collateral Agent and the relevant Deposit Account Bank (or, with respect to any Deposit Accounts located outside of the United States, customary security arrangements in the applicable jurisdictions for perfecting a security interest in such Deposit Accounts and the assets deposited therein or credited thereto).

Deposit Account Control Agreement means a deposit account control agreement in the form specified in Exhibit H to the Security Agreement, or in such other form as is reasonably acceptable to the Agent.

Deposit Account Control Agreement means an agreement, among a Credit Party, a depository institution, and the Administrative Agent, which agreement is in a form reasonably acceptable to the Administrative Agent and the Company and which provides the Administrative Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) described therein or any foreign equivalent thereof, as the same may be amended, modified, extended, restated, replaced, or supplemented from time to time.