Common use of Controlled Accounts; Controlled Investments Clause in Contracts

Controlled Accounts; Controlled Investments. (i) Each Grantor shall (A) establish and maintain cash management services of a type and on terms reasonably satisfactory to Agent at one or more of the banks set forth on Schedule 10 (as such Schedule may be updated from time to time to reflect changes resulting from transactions permitted under the Loan Documents) (each a “Controlled Account Bank”), and shall take reasonable steps to ensure that all of its and its Subsidiaries’ Account Debtors forward payment of the amounts owed by them directly to such Controlled Account Bank, and (B) deposit or cause to be deposited promptly, and in any event no later than the first Business Day after the date of receipt thereof, all of their Collections (including those sent directly by their Account Debtors to a Grantor) into a bank account of such Grantor (each, a “Controlled Account”) at one of the Controlled Account Banks.

Controlled Accounts; Controlled Investments. (i) Each Grantor shall (A) establish and maintain cash management services of a type and on terms reasonably satisfactory to Agent at one or more of the banks set forth on Schedule 10 (as such Schedule may be updated from time to time to reflect changes resulting from transactions permitted under the Loan Documents) (each a “Controlled Account Bank”), and shall take reasonable steps to ensure that all of its and its Subsidiaries’ Account Debtors forward payment of the amounts owed by them directly to such Controlled Account Bank, and (B) to the extent any Account Debtor shall fail to forward payment in accordance with clause (A) hereof (notwithstanding the reasonable steps taken by such Grantor) deposit or cause to be deposited promptly, and in any event no later than the first Business Day after the date of receipt thereof, all of their such Collections from such Account Debtors, together with all other Collections (including those sent directly by their Account Debtors to a Grantor) into a bank account of such Grantor (each, a “Controlled Account”) at one of the Controlled Account Banks.

Controlled Accounts; Controlled Investments. (i) Each Grantor shall (A) establish and maintain cash management services of a type and on terms reasonably satisfactory to Agent at one or more of the banks set forth on Schedule 10 Xxxxx Fargo (as such Schedule may be updated from time to time to reflect changes resulting from transactions permitted under the Loan Documents) (each a “Controlled Account Bank”), and shall take reasonable steps to ensure that all of its and its Subsidiaries’ Account Debtors forward payment of the amounts owed by them directly to a Collection Account at such Controlled Account BankBank that is not an Excluded Account (each, a “Controlled Account”) (by wire transfer to the applicable Controlled Account Bank or to a lockbox maintained by the applicable Controlled Account Bank for deposit into such Collection Account), and (B) deposit or cause to be deposited promptly, and in any event no later than the first Business Day after the date of receipt thereof, all of their Collections (including those sent directly by their Account Debtors to a Grantor) and proceeds of Collateral into a bank account of such Grantor (each, a “Controlled Account”) at one of the Controlled Account Banks.;