Checking Accounts and Cash Management Services. Borrowers shall maintain their general checking and controlled disbursement accounts with LaSalle. Normal charges shall be assessed thereon. Although no compensating balance is required, each Borrower must keep monthly balances in order to merit earnings credits which will cover LaSalle's service charges for demand deposit account activities. In addition, Borrowers shall enter into agreements with LaSalle for standard cash management services. Borrowers shall be responsible for all normal charges assessed thereon.
Checking Accounts and Cash Management Services. Borrower shall maintain its general checking/controlled disbursement account with Lender or another bank acceptable to Lender. If Borrower maintains its general checking/controlled disbursement account with Lender, (a) normal charges shall be assessed thereon, (b) although no compensating balance is required, Borrower must keep monthly balances in order to merit earnings credits which will cover Lender’s service charges for demand deposit account activities, and (c) Borrower shall enter into agreements with Lender for standard cash management services. Borrower shall be responsible for all normal charges assessed thereon. All of Borrower’s bank accounts are set forth on Schedule 9.02. Borrower will not open any other bank account unless (i) Borrower provides written notice to Lender at least ten (10) days prior to opening such account and (ii) the bank at which such account is located executes such documents as are necessary to give Lender a first priority, perfected security interest in such account. On or before the date which is ninety (90) days after the Closing Date, Borrower shall close each of its bank accounts with Citizens Bank.
Checking Accounts and Cash Management Services. Except for Excluded Accounts or in the event Lender otherwise consents in writing, in order to facilitate Lender’s maintenance and monitoring of the Collateral, Loan Parties shall maintain its general checking/controlled disbursement account and its other deposit accounts with Lender. In the event that any Loan Party intends to open a deposit account at a financial institution other than Lender, such Loan Party shall (i) provide prior written notice thereof to Lender, and (ii) if Lender consents in writing thereto, except with respect to any Excluded Accounts, deliver to Lender, for the benefit of itself and the Secured Parties, with respect to any such deposit account, a deposit account control agreement or blocked account agreement, in form and substance reasonably satisfactory to Lender, executed by the financial institution at which such Deposit Account is maintained on or before the opening of such deposit account. Each Loan Party shall enter into agreements with Lender for all of its needs in connection with cash management services; provided, however, that Xxxxxx Products Delaware shall be permitted (a) to maintain credit card services with Bank of America and in connection therewith maintain the applicable Excluded Accounts and (b) obtain and maintain cash management services from another provider to the extent that Lender does not provide such requested cash management service and in connection therewith, to the extent required by such provider, to open and maintain any Excluded Accounts. Loan Parties shall be responsible for all normal charges assessed on any of the foregoing.
Checking Accounts and Cash Management Services. Unless Administrative Agent otherwise consents in writing, in order to facilitate Administrative Agent's maintenance and monitoring of the Collateral, each Loan Party shall maintain, and shall cause each Loan Party to maintain its general checking/controlled disbursement account and its other deposit accounts with Administrative Agent. Each Loan Party shall be responsible for all normal charges assessed thereon. Each Loan Party shall notify Administrative Agent in writing ten (10) days prior to opening any new Deposit Account and shall enter into a control agreement satisfactory to Administrative Agent for each such Deposit Account of such Loan Party on or before the opening of such Deposit Account. Notwithstanding the foregoing, Loan Parties shall be permitted to maintain their existing bank accounts maintained with KeyBank for a period not to exceed ninety (90) days after the Closing Date, provided all of the Loan Parties’ Account and other collections are promptly remitted to Lender for application to the Obligations in a manner satisfactory to Administrative Agent.
Checking Accounts and Cash Management Services. Borrower shall maintain its operating, collections, payroll, trust, and other depository or disbursement accounts with Lender and Lender (or any parent, affiliate or subsidiary of Lender, as applicable) shall provide services with respect to such accounts, including without limitation, automated clearinghouse, e-payable, electronic funds transfer, wire transfer, controlled disbursement, overdraft, depository, information reporting, lockbox and stop payment services as more specifically set forth in agreements with respect to such accounts entered into by and between Borrower and Lender (or any parent, affiliate or subsidiary of Lender, as applicable). Customary charges and fees, including the charges and fees for the forgoing services, shall be assessed thereon. Although no compensating balance is required, Borrower must keep monthly balances in order to merit earnings credits which will cover Lender’s service charges for such account activities.
Checking Accounts and Cash Management Services. Unless Administrative Agent otherwise consents in writing, in order to facilitate Administrative Agent’s maintenance and monitoring of the Collateral, the Borrowers shall maintain, and shall cause each of their Subsidiaries to maintain its general checking/controlled disbursement account and its other deposit accounts with Administrative Agent or Canadian Bank with respect to checking/controlled disbursement and other deposit accounts located in Canada. The Borrowers shall be responsible for all normal charges assessed thereon. Notwithstanding the foregoing, the Borrowers shall be permitted to maintain (i) deposit accounts set forth on Schedule 12.10 with each of Xxxxxxx Xxxxx, First Interstate Bank, PNC Bank, National Association, First Citizens Bank and National Bank of Canada, so long as such accounts are either (a) closed within thirty (30) days of the date hereof or (b) subject to a deposit account control agreement in form and substance acceptable to Administrative Agent at all times within thirty (30) days of the date Table of Contents hereof, (ii) a xxxxx cash account with First Citizens Bank, so long as such account does not have more than $100,000 on deposit at any time and (iii) a deposit account with BMO Capital Markets, provided that such deposit account with BMO Capital Markets shall be terminated within forty-five (45) days after the Closing Date. Schedule 12.10 also sets forth all restricted cash accounts which are utilized exclusively to deposit cash collateral securing reclamation bonds required in the ordinary course of business or reclamation deposits from customers received in the ordinary course of business (collectively, the “Restricted Accounts”). Such Restricted Accounts are not required to be subject to account control agreements.
Checking Accounts and Cash Management Services. Each Loan Party shall maintain all of its treasury management accounts, including depository, collection, remittance and investment accounts, with Lender, provided, however, that Loan Parties shall be permitted to maintain local xxxxx cash accounts with other banks as needed in locations where Lender cannot provide such account services so long as the balances in such xxxxx cash accounts do not exceed $20,000 in the aggregate. In connection with the maintenance of accounts held with Lender, (a) normal charges shall be assessed thereon, and (b) Loan Parties shall enter into agreements with Lender for standard cash management services. Loan Parties shall be responsible for all normal charges assessed thereon. All of Loan Parties’ bank accounts are set forth on Schedule 9.02. No Loan Party will open any bank account with a bank other than Lender unless (i) such Loan Party provides written notice to Lender at least ten (10) days prior to opening such account, (ii) Lender gives its prior written consent to the opening of such account, and (iii) the bank at which such account is located executes such documents as are necessary to give Lender a first priority, perfected security interest in such account. Notwithstanding the foregoing sentence, any Loan Party may open a bank account with a local bank in the State of California for the sole purpose of funding payroll amounts to California employees, provided that the net balance of such account(s) (i.e., net of checks written or pending transfers) shall not exceed $50,000 in the aggregate at any one time.
Checking Accounts and Cash Management Services. (j) Within sixty (60) days of notice by Lender, Borrowers shall maintain their operating, collections, payroll, trust, and other depository or disbursement accounts with Lender and shall close any such account maintained at a bank other than Lender, and Lender (or any parent, affiliate or subsidiary of Lender, as applicable) shall provide services with respect to such accounts, including without limitation, automated clearinghouse, e-payable, electronic funds transfer, wire transfer, controlled disbursement, overdraft, depository, information reporting, lockbox and stop payment The Coast Distribution System, Inc. March 27, 2009 services as more specifically set forth in agreements with respect to such accounts entered into by and between Borrower and Lender (or any parent, affiliate or subsidiary of Lender, as applicable). Customary charges and fees, including the charges and fees for the forgoing services, shall be assessed thereon. Although no compensating balance is required, Borrower must keep monthly balances in order to merit earnings credits which will cover Lender’s service charges for such account activities. Notwithstanding anything contained herein, (i) Coast U.S. shall immediately establish Dominion Accounts with US Lender and in connection therewith, shall execute and deliver to US Lender an Amended and Restated Deposit Account Control Agreement and (ii) Coast U.S. shall, within thirty (30) days of the date hereof, close all deposit accounts maintained with Xxxxx Fargo Bank, N.A.
Checking Accounts and Cash Management Services. Unless Administrative Agent otherwise consents in writing, in order to facilitate Administrative Agent’s maintenance and monitoring of the Collateral, Borrower shall maintain its general checking/controlled disbursement account and its other deposit accounts with Administrative Agent; provided Borrower may maintain accounts with U.S. Bank National Association for its operations outside of the Chicago area. Borrower shall be responsible for all normal charges assessed thereon. Borrower shall notify Administrative Agent in writing 30 days prior to opening any new Deposit Account and, in the event Administrative Agent consents to the opening of any such Deposit Account, Borrower shall enter into a control agreement satisfactory to Administrative Agent for each such Deposit Account of Borrower on or before the opening of such Deposit Account
Checking Accounts and Cash Management Services. On or before 90 days after the Closing Date (or such later date as may be agreed to in writing by Agent), Borrowers shall maintain their general checking and controlled disbursement accounts with BMO. Normal charges shall be assessed thereon. Although no compensating balance is required, each Borrower must keep monthly balances in order to merit earnings credits which will cover BMO’s service charges for demand deposit account activities. In addition, Borrowers shall enter into agreements with BMO for standard cash management services. Borrowers shall be responsible for all normal charges assessed thereon. For the avoidance of doubt, nothing in this Section 12(j) shall preclude any Borrower from maintaining the Xxxxxx Account.
