Control Account Agreements Sample Clauses

Control Account Agreements. Permit the aggregate amount of cash maintained by Parent and its Subsidiaries at any financial institution at any time to exceed $5,000 for more than one Business Day unless Parent or such Subsidiary, as the case may be, has (i) executed and delivered to the Administrative Agent an agreement, satisfactory in form and substance to the Administrative Agent and executed by a financial institution, (ii) and taken all other steps necessary or, in the opinion of the Administrative Agent, desirable to ensure that the Administrative Agent has a perfected security interest in such cash; provided, that if Parent or such Subsidiary is unable to obtain such agreement from such financial institution, Parent shall, or shall cause such Subsidiary to, promptly transfer all cash maintained at such financial institution to a financial institution from which Parent or such Subsidiary has obtained such an agreement; provided, further, that this subsection (o) shall not apply to local operating accounts of a Loan Party, maintained at a financial institution in which all funds therein are transferred at least weekly into an account subject to this subsection (o); provided, further, that with respect to Subsidiaries of Parent that are not wholly-owned Subsidiaries, this subsection (o) shall not apply to cash maintained at financial institutions by such entities that does not exceed an aggregate of (1) $10,000,000 at any time on or prior to the first anniversary of this Agreement, (2) $12,000,000 at any time after the first anniversary of this Agreement and prior to the second anniversary of this Agreement and (3) $15,000,000 thereafter.
Sample 1
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Control Account Agreements. (a) On or before May 16, 2003, Borrower shall have delivered to Agent an executed Control Account Agreement between Borrowers, Agent and Greater Community Bank governing any and all of Borrower's bank or other depository accounts with such bank, in form and substance satisfactory to Agent in its Permitted Discretion.
Sample 1
Control Account Agreements. Each applicable Credit Party shall deliver to Collateral Agent fully executed Control Account Agreements (as defined in the Pledge and Security Agreement) for the accounts listed on Schedule 3.6 to the Pledge and Security Disclosure Letter and that are identified as Securities Accounts that will be pledged. Each such action described above shall be completed within 45 days following the Closing Date (or such longer period as the Collateral Agent may agree in its sole discretion).
Sample 1
Control Account Agreements. Within seven (7) days after the Effective Date of this Agreement, the Borrower shall enter into control account agreements in form and substance satisfactory to Lender in its sole discretion, with a financial institution acceptable to Lender, in its sole discretion, that grant control to Lender over all of Borrower's and DJS' operating accounts in connection with an Event of Default pursuant to Section 10.1 (Failure to Pay), Section 10.4 (False Information), Section 10.6 (Receivers) or Section 10.9 (Judgments) of the Loan Agreement.
Sample 1
Control Account Agreements. Borrower and DJS Processing shall enter into control account agreements in the form set forth on Exhibit A attached hereto that grant control to Lender over all of their operating accounts in connection with the occurrence of a Termination Event. Borrower and Law Office shall enter into control account agreements in favor of Lender in the form set forth on Exhibit B attached hereto that grant control to Lender over all of Law Office's operating accounts in connection with the occurrence of a Termination Event. Borrower and DJS Processing shall not, and shall cause Guarantor not to, open and/or maintain any deposit accounts other than the Existing Bank Accounts.
Sample 1
Control Account Agreements. Deposit all cash held or received by it (other than the proceeds of the Term Loans, which shall be deposited in the DIP Proceeds Controlled Account) into any account held by TLC Management, which is subject to a Control Account Agreement pursuant to which the Agents are granted a first priority security interest in respect of such cash, in form and substance satisfactory to the Administrative Agent and the Required Lenders, duly executed by the financial institution at which such account is maintained. So long as no Default or Event of Default has occurred and is continuing, the Borrowers may withdraw amounts from such account to make payments consistent with the Budget.
Sample 1
Control Account Agreements. Permit the aggregate amount of cash maintained by any Loan Party at any financial institution at any time to exceed $5,000 for more than one Business Day unless such Loan Party has (i) executed and delivered to the Agents a Control Account Agreement, in form and substance reasonably satisfactory to the Required Lenders and executed by such financial institution, and (ii) taken all other steps necessary or, in the opinion of the Collateral Agent, desirable to ensure that the Collateral Agent has a perfected first priority security interest in such cash (subject to the Carve Out and Liens permitted to be equal or superior in priority pursuant to this Agreement); provided, that if such Loan Party is unable to obtain such agreement from such financial institution, such Loan Party shall promptly transfer all cash maintained at such financial institution to a financial institution from which such Loan Party has obtained such an agreement.
Sample 1
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Control Account Agreements. Within thirty (30) days after execution of this Agreement (a) Borrower, DJS Processing and each Guarantor shall enter into control account agreements acceptable to Lender that grant control to Lender over all of their operating accounts in connection with the occurrence of a Termination Event and (b) Law Office shall enter into control account agreements acceptable to Lender that grant control to Lender over all of Law Office's operating accounts in connection with the occurrence of a Termination Event. Borrower and DJS Processing shall not, and shall cause Guarantor not to, open and/or maintain any deposit accounts other than the Existing Bank Accounts.
Sample 1
Control Account Agreements. No later than thirty (30) days after the Effective Date or such later date as may be consented to by the Administrative Agent, the Administrative Agent shall have received Control Account Agreements from (i) all securities intermediaries with respect to all Securities Accounts and securities entitlements of each Loan Party, and (ii) except with respect to the futures commission agents and clearing houses set forth in Schedule 7.17, all futures commission agents and clearing houses with respect to all commodities contracts and commodities accounts held by each Loan Party.
Sample 1

Related to Control Account Agreements

  • Deposit Account Control Agreements the Deposit Account control agreements to be executed by each institution maintaining a Deposit Account for an Obligor, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations.

  • Control Accounts The Agent shall maintain on its books a control account or accounts in which shall be recorded (a) the amount of any Unpaid Sum and the face amount of each Letter of Credit issued hereunder, (b) the amount of all fees, interest and other sums due or to become due from the Borrower and (c) the amount of any sum received or recovered by the Agent hereunder.

  • Deposit Account Control Agreement control agreement satisfactory to Agent executed by an institution maintaining a Deposit Account for an Obligor, to perfect Agent’s Lien on such account.

  • Control Agreements (i) Except to the extent otherwise excused by Section 7(k)(iv), each Grantor shall obtain an authenticated Control Agreement (which may include a Controlled Account Agreement), from each bank maintaining a Deposit Account or Securities Account for such Grantor;

  • Account Control Agreements Account Control Agreements for all of Borrower’s deposit accounts and accounts holding securities duly executed by all of the parties thereto, in the forms provided by or reasonably acceptable to Lender.

  • Control Account The Register maintained by the Administrative Agent pursuant to Section 14.1(c) shall include a control account, and a subsidiary account for each Lender, in which accounts (taken together) shall be recorded (i) the date and amount of each Borrowing made hereunder, the type of Loan comprising such Borrowing and any Eurodollar Interest Period applicable thereto, (ii) the effective date and amount of each Assignment and Acceptance delivered to and accepted by it and the parties thereto, (iii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder or under the Notes and (iv) the amount of any sum received by the Administrative Agent from the Borrower or the applicable Qualified Borrower hereunder and each Lender’s share thereof.

  • Control Accounts; Approved Deposit Accounts Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.

  • Account Control Agreement The provisions of Sections 8.02 and 8.05 are subject to the terms of the Account Control Agreement.

  • Control Agreement A control agreement (the “Custodian Control Agreement”), duly executed and delivered by the Borrower, the Administrative Agent and State Street Bank and Trust Company.

  • Establishment of a Lockbox Account, Dominion Account All proceeds of Collateral shall be deposited by Borrower into either (i) a lockbox account, dominion account or such other “blocked account” (“Blocked Accounts”) established at a bank or banks (each such bank, a “Blocked Account Bank”) pursuant to an arrangement with such Blocked Account Bank as may be selected by Borrower and be acceptable to Agent or (ii) depository accounts (“Depository Accounts”) established at Agent for the deposit of such proceeds. Borrower, Agent and each Blocked Account Bank shall enter into a deposit account control agreement in form and substance satisfactory to Agent directing such Blocked Account Bank, upon notice from Agent, to transfer such funds so deposited to Agent, either to any account maintained by Agent at said Blocked Account Bank or by wire transfer to appropriate account(s) of Agent. All funds deposited in such Blocked Accounts shall immediately become the property of Agent and Borrower shall obtain the agreement by such Blocked Account Bank to waive any offset rights against the funds so deposited. Neither Agent nor any Lender assumes any responsibility for such blocked account arrangement, including any claim of accord and satisfaction or release with respect to deposits accepted by any Blocked Account Bank thereunder. All deposit accounts and investment accounts of Borrower are set forth on Schedule 4.15(g). Notwithstanding anything to the contrary set forth in this Section 4.15(g), Borrower shall be permitted to deposit checks or other payments received at Borrower’s locations in the Ordinary Course of Business in deposit accounts which may not be subject to a blocked account or similar agreements; provided that, at no time shall Borrower have more than $50,000 in the aggregate in all such accounts which are not Blocked Accounts or Depository Accounts.

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