Deposit Account Control Agreements definition

Deposit Account Control Agreements means, with respect to each deposit account that is required by the Collateral Agreement to be subject to a control agreement, a deposit account control agreement executed by the Borrower, the Administrative Agent as the secured party thereto, and the deposit bank, as each may be amended, restated, supplemented or otherwise modified from time to time.

Deposit Account Control Agreements the deposit account control agreements in form and substance satisfactory to Agent executed by each lockbox servicer and financial institution maintaining a lockbox and/or Deposit Account (other than an Excluded Deposit Account) for a Loan Party, in favor of Agent and meeting the requirements set forth in Section 8.2.4.

Deposit Account Control Agreements means the deposit account control agreements or blocked account agreements in a form that is reasonably satisfactory to the Agent to be executed by each institution maintaining a deposit account or securities account for any of the Credit Parties, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations to the extent required by Section 4.14(g) or any other provision of this Agreement or any Other Document.

Examples of Deposit Account Control Agreements in a sentence

• Indenture Trustee shall use commercially reasonable efforts to enter into, no later than [ ] days following the Initial Issue Date, Deposit Account Control Agreements which shall be in form and substance reasonably satisfactory to Indenture Trustee and the Existing Notes Trustee.

• Upon issuance of an Activation Notice, such Deposit Account Control Agreements shall provide that all available funds in each Collection Account will be transferred, on each Business Day, to Agent, either to any account maintained by Agent at such bank or by wire transfer to appropriate account(s) of Agent, and otherwise be in form and substance (including as to the extent of offset and statutory lien rights) reasonably satisfactory to Agent.

• The provisions of this Section requiring Deposit Account Control Agreements shall not apply to Excluded Accounts.

• Borrower shall further execute and deliver, and shall cause each Guarantor to execute and deliver, such agreements and documents as Collateral Agent may require in connection with such Blocked Accounts and such Deposit Account Control Agreements.

• The provisions of this Section requiring Deposit Account Control Agreements shall not apply to Deposit Accounts exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of Borrowers’ employees and identified to Administrative Agent by Borrowers as such.

More Definitions of Deposit Account Control Agreements

Deposit Account Control Agreements means such control agreements required pursuant to Section 3.9 of the Security Agreement.

Deposit Account Control Agreements has the meaning specified in the U.S. Security Agreement and/or the Canadian Security Agreement, as the context may require.

Deposit Account Control Agreements means such control agreements required pursuant to Section 3.9 of the Security

Deposit Account Control Agreements the collective reference to the Borrower Deposit Account Control Agreements and the Subsidiaries Deposit Account Control Agreements.

Deposit Account Control Agreements has the meaning set forth in Section 6.19(b).

Deposit Account Control Agreements means those certain cash management agreements, in form and substance satisfactory to the Collateral Agent, each of which is among one or more of the Loan Parties, the Collateral Agent, and a depositary bank.

Deposit Account Control Agreements means (a) the Deposit Account Control Agreement dated April 30, 2007, among Administrative Agent, Borrower and Bank of America, N.A., and (b) any other Deposit Account Control Agreement (in form and substance acceptable to the Administrative Agent in its sole discretion) pertaining to a Bank Deposit Account.