Examples of Deposit Account Control Agreements in a sentence
This document is a model form produced by the Joint Task Force on Deposit Account Control Agreements of the Business Law Section of the American Bar Association.
Borrower will not have the right to withdraw amounts from the Designated Accounts until such time as the Lenders authorize such withdrawal or the Deposit Account Control Agreements are terminated.
Pursuant to the Deposit Account Control Agreements, as and when Pay-for-Success Payments are due to Borrower under the City PFS Agreement, the Lender Representative will have the authority to cause all of such amounts to be paid directly from the Designated Accounts to Senior Lenders and Subordinate Lender for the account of Borrower in accordance with the Priority of Payments Schedule for application to the obligations of Borrower under the Senior Loan Agreements and the Subordinate Loan Agreement.
Melzer, Deposit Account Control Agreements, 229N.Y.L.J. 5 ( June 5, 2003) (discussing the practical issues facing a secured party in negotiating a control agreement).
It next discusses the form of Deposit Account Control Agreement produced by the task force and set forth as Attachment A to this report, including the General Terms for Deposit Account Control Agreements set forth as AttachmentB.