Cash Management Agreements Clause Samples
A Cash Management Agreements clause outlines the requirements and procedures for managing the flow of funds within a business or between parties, typically in the context of a financing arrangement. It specifies how cash accounts are to be established, controlled, and monitored, often requiring the borrower to direct all revenues into designated accounts overseen by the lender or a third-party agent. This clause ensures that the lender has oversight and control over the borrower's cash, reducing the risk of misappropriation and helping to secure repayment of obligations.
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Cash Management Agreements. With regard to any Fund that is not a closed-end fund, the parties acknowledge that their respective obligations with regard to the sale and redemption of shares issued by the Fund, and the payment of Fund dividends and distributions, are set forth in one or more separate cash management agreements between the Custodian and the Fund.
Cash Management Agreements. (a) Notwithstanding Section 2.8, as soon as possible and, in any event, not later than forty-five (45) days following the Closing Date, the Credit Parties shall deliver to Agent Cash Management Agreements relating to each Cash Management Account maintained by the Credit Parties and such Cash Management Agreements shall be in form and substance satisfactory to Agent in its Permitted Discretion; provided, (i) notwithstanding the foregoing, within five (5) days following the Closing Date, the Credit Parties shall deliver to Agent Cash Management Agreements relating to the Collection Accounts maintained by each Credit Party with ▇▇▇▇▇ Fargo Treasury Management, the form and substance of which shall be satisfactory to Agent in its Permitted Discretion and (ii) no Cash Management Agreement shall be required for the Cash Management Account maintained by Borrower at First National Bank of Omaha so long as the balance in such Cash Management Account does not exceed $500 at any time; and
(b) Promptly, and no later than five days following the Closing Date, Borrower shall deliver to First National Bank of Omaha a DDA Notification.
Cash Management Agreements. Each agreement governing a Blocked Account, a Collection Account, and the Disbursement Accounts, duly executed and delivered by each Borrower and the applicable depository bank;
Cash Management Agreements. Within thirty (30) days after the Closing Date the Borrower shall deliver or cause to be delivered the following, in form and substance satisfactory to the Administrative Agent, duly executed Cash Management Agreements acceptable to the Administrative Agent. Change.
Cash Management Agreements. Collectively, those agreements between the Borrower and any of the Banks relating to the cash management of the Borrower Affiliated Group, including, without limitation, any lockbox agreement entered into from time to time by any member of the Borrower Affiliated Group at the direction of the Administrative Agent and any agency agreements with third-party banks in locations where the Administrative Agent has no operations and at which any member of the Borrower Affiliated Group has a bank account.
Cash Management Agreements. Evidence satisfactory to the Agent of the existence, as of the Effective Date, of a cash management system that complies with Section 8.1(a) hereof and that is otherwise satisfactory to the Agent, in it's sole discretion, including, without limitation, Lockbox Agreements with respect to the Blocked Accounts, duly executed by the Borrowers and the applicable Clearing Bank;
Cash Management Agreements. Notwithstanding Section 2.8, as soon as possible and, in any event, not later than forty-five (45) days following the Closing Date, the Credit Parties shall deliver to Agent Cash Management Agreements relating to each Cash Management Account maintained by the Credit Parties and such Cash Management Agreements shall be in form and substance satisfactory to Agent in its Permitted Discretion; provided, no Cash Management Agreement shall be required for the Cash Management Account maintained by Borrower at First National Bank of Omaha so long as the balance in such Cash Management Account does not exceed $500 at any timeand Term Agent in their respective Permitted Discretion.
Cash Management Agreements. Within thirty (30) days prior to the Closing Date, Sellers shall give Customers who have cash management agreements with Sellers all notices required under the terms of such Sellers' cash management agreements to terminate such agreements with the Customers as of the close of business on the Closing Date, in order to permit Purchaser to enter into its own cash management agreements with such Customers effective as of the Closing Date.
Cash Management Agreements. (1) The maximum number of Cash Management Banks during the Term of this Agreement shall be limited to two and the total amount of Cash Management Debt owing at any time to any one Cash Management Bank shall not exceed Cdn. $1,000,000.
(2) As of the date hereof, the Cash Management Banks are JPMorgan Chase Bank, N.A., Toronto Branch and National Bank of Canada.
(3) In the event that a Cash Management Bank ceases to be a Cash Management Bank, it shall deliver written notice thereof to the Administrative Agent. At any time that there is less than two Cash Management Banks, any Lender or an Affiliate of a Lender may become a Cash Management Bank upon written notice to the Administrative Agent; provided, for greater certainty, that the number of Cash Management Banks shall not exceed two at any time.
(4) The Lender Parties acknowledge that a right of set-off may be granted to a Cash Management Bank pursuant to the Cash Management Agreement to which such Cash Management Bank is a party and that the exercise of such right of set-off shall be subject to Section 10.04(4).
Cash Management Agreements. 98 Section 12.20