Qualifying Control Agreement definition

Qualifying Control Agreement means an agreement, among a Loan Party, a depository institution or securities intermediary and the Administrative Agent, which agreement is in form and substance acceptable to the Administrative Agent and which provides the Administrative Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described therein.

Qualifying Control Agreement shall have the meaning set forth on Schedule 1 hereto.

Qualifying Control Agreement means each of the following, as applicable to the respective items or types of property in which the Grantor now has or may hereafter acquire an interest:

Examples of Qualifying Control Agreement in a sentence

• The term "Qualifying Control Agreement" shall have the meaning set forth on Schedule 1 hereto.

• Upon and during the continuance of any Event of Default, the Lender shall have the right to notify any or all Persons party to the Account Control Agreement or any Qualifying Control Agreement of the occurrence and continuance of an Event of Default and other appropriate circumstances, and exercise control over and take possession or custody of any or all Collateral in the possession, custody or control of such other Persons.

• Each deposit account of the Borrower or any Domestic Subsidiary that is not maintained with the Lender shall at all times be subject to a Qualifying Control Agreement (as defined in the Security Agreement).

• Maintain their primary deposit or other accounts with the Administrative Agent or any Lender (or any of their respective Affiliates); provided if any such account is not maintained with the Administrative Agent, the Administrative Agent shall have received a Qualifying Control Agreement.

• Subject to Section 6.19, cause each deposit account (other than (i) any deposit account maintained with the Lender, and (ii) any Excluded Account) and each securities account (other than any Excluded Account) of each Loan Party at all times to be subject to a Qualifying Control Agreement.

More Definitions of Qualifying Control Agreement

Qualifying Control Agreement means an agreement, among a Loan Party, a depository institution or securities intermediary and the Collateral Agent, which agreement is in form and substance acceptable to the Collateral Agent and which provides the Collateral Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described therein.

Qualifying Control Agreement means an agreement, among a Loan Party, a depository institution or securities intermediary (other than Bank of America \) and the Administrative Agent, which agreement is in form and substance reasonably acceptable to the Administrative Agent and which provides the Administrative Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described therein.

Qualifying Control Agreement means any control or acknowledgment agreement in form and substance reasonably acceptable to the Administrative Agent with respect to Investment Property, Letter of Credit Rights or tangible personal property Collateral in the possession, custody or control of any warehouseman or other bailee.

Qualifying Control Agreement means, with respect to Investment Property credited to any Securities Account, an agreement executed by the applicable securities intermediary in form and substance reasonably satisfactory to the Lender and the Collateral Agent.

Qualifying Control Agreement means (a) with respect to Investment Property credited to any securities account, an agreement executed by the applicable securities intermediary substantially in such form and substance as may be reasonably consented to by the Administrative Agent; (b) with respect to any Deposit Account, a deposit account control agreement executed by the applicable depositary bank substantially in such form and substance as may be reasonably consented to by the Administrative Agent; and (c) with respect to any Investment Property in the form of uncertificated securities, an agreement of the issuer of such Investment Property in such form and substance as may be reasonably consented to by the Administrative Agent sufficient to confer control (within the meaning of Section 9-106 of the UCC) over such property and containing such other terms and provisions as the Administrative Agent may reasonably request.

Qualifying Control Agreement means an agreement among a Loan Party, a depository institution or securities intermediary and the Administrative Agent, which agreement is in form and substance reasonably acceptable to the Administrative Agent and the Required Lenders and which provides the Administrative Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described therein; provided, that with regard to the Reserve Account, such agreement shall be a “fully blocked account” that provides the Administrative Agent with sole control.

Qualifying Control Agreement means an agreement, among a Loan Party, a depository institution or securities intermediary and Agent, which agreement is in form and substance reasonably acceptable to Agent and which provides Agent with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described therein.