Common use of Deposit Accounts Clause in Contracts

Deposit Accounts. To further secure the prompt payment and performance of all Obligations, each Obligor hereby grants to Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such Obligor, including any sums in any blocked or lockbox accounts or in any accounts into which such sums are swept. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account maintained by such Obligor, without inquiry into the authority or right of Agent to make such request.

Appears in 9 contracts

Samples: Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (P&f Industries Inc), Loan and Security Agreement (P&f Industries Inc)

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Deposit Accounts. To further secure the prompt payment and performance of all Obligations, each Obligor Borrower hereby grants to Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such ObligorBorrower, including any sums in any blocked or lockbox accounts or in any accounts into which such sums are swept. Each Obligor Borrower hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account maintained by such ObligorBorrower, without inquiry into the authority or right of Agent to make such request.

Appears in 8 contracts

Samples: Loan and Security Agreement (Headwaters Inc), Loan and Security Agreement (Headwaters Inc), Loan and Security Agreement (Americas Carmart Inc)

Deposit Accounts. To further secure the prompt payment and performance of all Obligations, each Obligor Borrower hereby grants to Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such ObligorBorrower, including any sums in any blocked or lockbox accounts or in any accounts into which such sums are swept. Each Obligor Borrower hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account (other than an Excluded Account) maintained by such ObligorBorrower, without inquiry into the authority or right of Agent to make such request.

Appears in 7 contracts

Samples: Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc), Loan and Security Agreement (Olympic Steel Inc)

Deposit Accounts. To further secure the prompt payment and performance of all Obligations, each Obligor hereby grants to Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such Obligor, including any sums in any blocked or lockbox accounts or in any accounts into which such sums are swept. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account maintained by such Obligor, without inquiry into the authority or right of Agent to make such request. Agent may make any such request during a Trigger Period.

Appears in 2 contracts

Samples: Loan, Guaranty and Security Agreement (Sanmina-Sci Corp), Loan, Guaranty and Security Agreement (Sanmina-Sci Corp)

Deposit Accounts. To further secure the prompt payment and performance of all its applicable Obligations, each Obligor hereby grants to Agent, for the benefit of Secured Parties, Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such Obligor, including any sums in any blocked blocked, lockbox, sweep or lockbox accounts or in any accounts into which such sums are sweptcollection account. Each Deposit Account shall be subject to a Deposit Account Control Agreement. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Agentthe account designated in such Deposit Account Control Agreement, upon request, all balances in any Deposit Account maintained by for such Obligor, without inquiry into the authority or right of Agent to make such request.

Appears in 1 contract

Samples: Guaranty and Security Agreement (Turtle Beach Corp)

Deposit Accounts. To further secure the prompt payment and performance of all Obligations, each Obligor Borrower hereby grants to Agent, for the benefit of Secured Parties, a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such ObligorBorrower, including any sums in any blocked or lockbox accounts or in any accounts into which such sums are swept. Each Obligor Borrower hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any such Deposit Account maintained by such ObligorBorrower, without inquiry into the authority or right of Agent to make such request.

Appears in 1 contract

Samples: Loan and Security Agreement (Steinway Musical Instruments Inc)

Deposit Accounts. To further secure the prompt payment and performance of all its Obligations, each Obligor Borrower hereby grants to Agent, for the benefit of Secured Parties, Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such ObligorBorrower, including any sums in any blocked blocked, lockbox, sweep or lockbox accounts or in collection account (other than any accounts into which such sums are sweptitems that constitute Excluded Property). Each Obligor Borrower hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account maintained by for Borrower (other than any such Obligoritems that constitute Excluded Property), without inquiry into the authority or right of Agent to make such request.

Appears in 1 contract

Samples: Loan and Security Agreement (Vizio Holding Corp.)

Deposit Accounts. To further secure the prompt payment and performance of all its Obligations, each Obligor hereby grants to Agent, for the benefit of Secured Parties, Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such Obligor, including any sums in any blocked blocked, lockbox, sweep or lockbox accounts or in any accounts into which such sums are sweptcollection account. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account maintained by subject to a Deposit Account Control Agreement in accordance with the terms of such ObligorDeposit Account Control Agreement, without inquiry into the authority or right of Agent to make such request.

Appears in 1 contract

Samples: Loan, Security and Guarantee Agreement (AutoWeb, Inc.)

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Deposit Accounts. To further secure the prompt payment and performance of all its applicable Obligations, each Obligor hereby grants to Agent, for the benefit of Secured Parties, Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such ObligorObligor not constituting an Excluded Account, including any sums in any blocked blocked, lockbox, sweep or lockbox accounts or in any accounts into which such sums are sweptcollection account. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account not constituting an Excluded Account maintained by for such Obligor, without inquiry into the authority or right of Agent to make such request.

Appears in 1 contract

Samples: Loan and Security Agreement (Hydrofarm Holdings Group, Inc.)

Deposit Accounts. To further secure the prompt payment and performance of all its Obligations, each Obligor hereby grants to Agent, for the benefit of Secured Parties, Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account (other than a Trust Account) of such Obligor, including any sums in any blocked blocked, lockbox, sweep or lockbox accounts or in any accounts into which such sums are sweptcollection account. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Agent, upon requestrequest during any Dominion Trigger Period, all balances in any Deposit Account Account, other than Excluded Deposit Accounts, maintained by for such ObligorBorrower, without inquiry into the authority or right of Agent to make such request.

Appears in 1 contract

Samples: Guaranty and Security Agreement (ArcLight Clean Transition Corp.)

Deposit Accounts. To further secure the prompt payment and performance of all its Obligations, each Obligor hereby grants to Agent, for the benefit of Secured Parties, Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such ObligorObligor not constituting an Excluded Account, including any sums in any blocked blocked, lockbox, sweep or lockbox accounts or in any accounts into which such sums are sweptcollection account. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account not constituting an Excluded Account maintained by for such Obligor, without inquiry into the authority or right of Agent to make such request.

Appears in 1 contract

Samples: Loan and Security Agreement (Hydrofarm Holdings Group, Inc.)

Deposit Accounts. To further secure the prompt payment and performance of all Obligations, each Obligor hereby grants to Agent, for the benefit of Secured Parties, Agent a continuing security interest in and Lien upon all amounts credited to any Deposit Account of such Obligor, including any sums in any blocked or lockbox accounts or in any accounts into which such sums are swept. Each Obligor hereby authorizes and directs each bank or other depository to deliver to Agent, upon request, all balances in any Deposit Account maintained by such ObligorObligor (other than Excluded Deposit Accounts), without inquiry into the authority or right of Agent to make such request.

Appears in 1 contract

Samples: Loan and Security Agreement (Us Concrete Inc)

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