Existing Accounts definition
Examples of Existing Accounts in a sentence
Until the Existing Accounts have been closed, Borrower shall deliver to Bank account statements for such Existing Accounts not later than the thirtieth (30th) days of each month, and upon the closure of such Existing Accounts, Borrower shall deliver to Bank evidence satisfactory to Bank in Bank’s Permitted Discretion that such Existing Accounts have been closed.
Each Loan Party shall cause the Existing Accounts to be closed on or before the date that is sixty (60) days after the Closing Date, as such date may be extended in the Bank’s sole but reasonable discretion.
In the event that the Existing Accounts are not closed on or before the date that is sixty (60) days after the Closing Date, each Loan Party agrees that it shall, if requested by Bank, cooperate with Bank to cause any such Existing Account to be subject to a fully executed deposit account control agreement, in form and substance satisfactory to Bank.
Except for the Existing Accounts, none of B▇▇▇▇▇▇▇’s nor any Subsidiary’s deposit accounts are maintained with a Person other than Bank.