Controlled Securities Accounts. On the Closing Date, each Loan Party shall enter into a Control Agreement with respect to each Securities Account and Commodity Account listed on part (b) of Schedule 6.19. The Borrower Agent shall cause account statements and/or other reports from the applicable broker, financial institution or other financial intermediary to be delivered to the Administrative Agent not less often than monthly, accurately setting forth all assets, including securities entitlements, financial assets or other amounts, held in each Securities Account or Commodity Account.
Controlled Securities Accounts. On or prior to the Closing Date, enter into a Control Agreement with respect to each Securities Account and Commodity Account listed on part (b) of Schedule 6.19. The Borrower Agent shall request the applicable broker, financial institution or other financial intermediary to deliver account statements and/or other reports to the Administrative Agent not less often than monthly, setting forth all assets, including securities entitlements, financial assets or other amounts, held in each Securities Account or Commodity Account.
Controlled Securities Accounts. On or prior to the Closing Date, enter into a Control Agreement with respect to each Securities Account and Commodity Account listed on part (b) of Schedule 6.19, excluding that certain existing Bank of America Securities, Inc. account, so long as with respect to such Securities Account (the “Equity Repurchase Program Securities Account”): (i) such Securities Account is used solely and exclusively to hold (1) cash proceeds from Restricted Payments permitted to be made pursuant to Section 8.06(c) for the repurchase of the common Equity Interests of Matrix, provided that such cash may be deposited from and after the Closing Date only substantially contemporaneously with the making of any repurchase (and if a repurchase is not consummated before the occurrence of an Event of Default, then any remaining cash in excess of $100,000 shall be transferred to a Controlled Deposit Account as provided in Section 4.04), (2) the common Equity Interests of Matrix repurchased before the Closing Date or repurchased thereafter with the proceeds of such cash proceeds and (3) the proceeds from any subsequent re-sale of such Equity Interests, provided that during the continuance of any Event of Default, all such proceeds then remaining in such Securities Account, along with all future proceeds, from any subsequent re-sale of such Equity Interests shall be delivered to a Controlled Deposit Account and applied as provided in Section 4.04. The Borrower Agent shall cause account statements and/or other reports from the applicable broker, financial institution or other financial intermediary to be delivered to the Administrative Agent not less often than monthly, accurately setting forth all assets, including securities entitlements, financial assets or other amounts, held in each Securities Account or Commodity Account.
Controlled Securities Accounts. Each Loan Party shall deposit all of its Cash Equivalents in securities accounts that are Controlled Securities Accounts.
Controlled Securities Accounts. On or prior to the date that is sixty (60) days following the Closing Date (or such later date as the Lender may permit), enter into a Control Agreement with respect to each Securities Account (other than the PNC Securities Account) and Commodity Account listed on part (b) of Schedule 6.19. At the request of the Lender, the Borrower shall cause account statements and/or other reports from the applicable broker, financial institution or other financial intermediary to be delivered to the Lender not less often than monthly, accurately setting forth all assets, including securities entitlements, financial assets or other amounts, held in each Securities Account (other than the PNC Securities Account) or Commodity Account.
Controlled Securities Accounts. Within thirty (30) days after the Closing Date (or such later date as the Lender may determine in its sole discretion), the Borrower(s) shall enter into a Control Agreement with respect to each Securities Account and Commodity Account listed on part (b) of Schedule 6.19. At the request of the Lender, the Borrower Agent shall cause account statements and/or other reports from the applicable broker, financial institution or other financial intermediary to be delivered to the Lender at the same time as they are delivered to the Borrower(s), accurately setting forth all assets, including securities entitlements, financial assets or other amounts, held in each Securities Account or Commodity Account.
Controlled Securities Accounts. Each Loan Party agrees to, on or prior to the Closing Date, enter into a Control Agreement with respect to each Securities Account and Commodity Account listed on part (b) of Schedule 6.19, other than Excluded Securities Accounts; provided, that with respect to Securities Accounts and Commodity Accounts of the Loan Parties not covered by a Control Agreement as of the Closing Date, the Loan Parties shall either, within 60 days after the Closing Date (or such later date as the Administrative Agent may agree in writing in its sole discretion), (i) cause each such Securities Account and Commodity Account to be covered by a Control Agreement or (ii) close each such Securities Account and Commodity Account. The Borrower Agent shall cause account statements and/or other reports from the applicable broker, financial institution or other financial intermediary to be delivered to the Administrative Agent not less often than monthly, accurately setting forth all assets, including securities entitlements, financial assets or other amounts, held in each Securities Account or Commodity Account.
Controlled Securities Accounts. On or prior to the Closing Date, each Loan Party shall enter into a Control Agreement with respect to each Securities Account and Commodity Account maintained by such Loan Party as of the Closing Date. At the request of the Administrative Agent, the Borrower Agent shall cause account statements and/or other reports from the applicable broker, financial institution or other financial intermediary setting forth all assets, including securities entitlements, financial assets or other amounts, held in each Securities Account or Commodity Account to be delivered to the Administrative Agent not less often than monthly. If following a Specified Event of Default funds in the Concentration Account are not sufficient to satisfy all outstanding obligations under this Agreement and Cash Collateralize all outstanding Letters of Credit, the Administrative Agent shall use the assets in the Controlled Securities Accounts to satisfy all outstanding obligations under this Agreement and Cash Collateralize all outstanding Letters of Credit, and shall make the remaining such assets available to Borrowers. The Administrative Agent agrees with each Loan Party that it shall not give any instructions directing the disposition of funds from time to time credited to any Controlled Securities Account or withhold any withdrawal rights from such Loan Party with respect to funds from time to time credited to any Controlled Securities Account unless a Specified Event of Default has occurred and is continuing and amounts remain outstanding under this Agreement (other than in respect of Letters of Credit that have been Cash Collateralized in accordance with Section 2.16).
Controlled Securities Accounts. Each Loan Party represents, warrants and covenants as follows:
Controlled Securities Accounts. Within sixty (60) days after the Closing Date (or such later time as the Administrative Agent shall agree), enter into a Control Agreement with respect to each Securities Account and Commodity Account listed on part (b) of Schedule 6.19. At the request of the Administrative Agent, the Borrower Agent shall cause account statements and/or other reports from the applicable broker, financial institution or other financial intermediary to be delivered to the Administrative Agent not less often than monthly, accurately setting forth all assets, including securities entitlements, financial assets or other amounts, held in each Securities Account or Commodity Account.
