Examples of Operating Account Bank in a sentence
If any person asserts any lien, encumbrance or adverse claim (including any writ, garnishment, judgment, warrant of attachment, execution or similar process) against the Account, the Operating Account Bank will promptly notify the Collateral Agent and the Borrower thereof.
If at any time the Operating Account Bank shall receive any instructions originated by the Collateral Agent directing the disposition of funds in the Account, the Operating Account Bank shall comply with such instructions without further consent by the Borrower or any other person.
The Operating Account Bank hereby acknowledges that it has received notice of the security interest of the Collateral Agent in the Account and hereby acknowledges and consents to such lien.
The Operating Account Bank hereby confirms and agrees that it has established and shall maintain in the name of the Borrower account number [_________] (the "Account"), and the Operating Account Bank shall not change the name or account number of the Account without the prior written consent of the Collateral Agent.
The Collateral Agent agrees to provide a Notice of Termination in substantially the form of Exhibit A attached hereto to the Operating Account Bank upon the request of the Borrower on or after the termination of the Collateral Agent's security interest in the Account pursuant to the terms of the Security Agreement.