Depository Bank Clause Samples

Depository Bank. The Borrower shall maintain the Depository Account with the Administrative Agent (or such designated Affiliate).

Depository Bank. Maintain Lender as its principal depository bank, including for the maintenance of all operating, collection, disbursement and other deposit accounts and for all Cash Management Services.

Depository Bank. (1) The Executive Committee shall select a depository bank, treasurer for CES’ funds or fiscal agent, according to the regulations provided for Member organizations in selecting depository banks. (2) All funds of CES shall be deposited within 24 hours of receipt or the next business day to the credit of CES or its agent in such banks, trust companies or other depositories as the Executive Committee or its agent may select.

Depository Bank. Other than Foreign Subsidiaries, maintain Capital One as its principal depository bank, including for the maintenance of operating, collection, disbursement and other deposit accounts and Cash Management Services.

Depository Bank. Within sixty (60) days of the Closing Date, the Borrower shall transfer the Depository Account to the Administrative Agent (or one of its Affiliates, as designated in writing by the Administrative Agent to the Borrower). Following such transfer and until the Termination Date, the Borrower shall maintain the Depository Account with the Administrative Agent (or such designated Affiliate).

Depository Bank. With respect to Deposit Accounts, (i) maintain the Deposit Accounts at the banks (a "DEPOSITORY BANK") described on ANNEX D or such additional depository banks as have complied with ITEM (iv) hereof; (ii) within thirty (30) days of the Closing Date, deliver to each depository bank a letter in the form of ANNEX E hereto with respect to Secured Party's rights in such Deposit Account and use its best efforts to obtain the execution of such letter by each depository bank; (iii) deliver to Secured Party all certificates or instruments, if any, now or hereafter representing or evidencing the Deposit Accounts, accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance satisfactory to Secured Party; and (iv) notify Secured Party prior to establishing any additional Deposit Accounts and, at the request of Secured Party, obtain from such depository bank an executed letter substantially in the form of ANNEX E and deliver the same to Secured Party.

Depository Bank. The Borrower and each Subsidiary will maintain the Administrative Agent as its principal treasury and depository bank in the United States, including for the maintenance of operating, administrative, cash management, collection activity and other deposit accounts for the conduct of its business. For the avoidance of doubt, nothing herein shall prohibit the Borrower or its Subsidiaries from maintaining any Excluded Account with a depository bank other than the Administrative Agent.

Depository Bank. Upon written request of Grantor, Royalty Holder shall designate a bank to act as Royalty Holder’s agent to receive from Grantor all payments payable under the terms hereof, and all such payments may be made by paying or tendering the same to Royalty Holder, or to the bank for Royalty Holder’ credit, which bank shall continue as the depository for all Royalty payments, subject only to the subsequent provisions in this Section 4.2. All charges of such depository bank shall be for Royalty Holder’s account. A single payment or tender to said depository bank shall be made by (i) mailing or by delivering a check, (ii) electronic exchange of funds between accounts held at U.S. financial institutions through the Automated Clearing House network (“ACH”), or (iii) wire transfer, and such a payment shall effectively and for all purposes whatsoever constitute full payment of the amount thereof to Royalty Holder to the same extent as if made directly. In the event Royalty Holder fails to name said bank upon the request of Grantor, or in the event such bank (or any successor bank) should fail, liquidate or be succeeded by another bank, or for any reason fail or refuse to accept royalties, or should Royalty Holder desire to designate another depository bank, then Grantor shall not be held in default for failure to make payment or tender of payments until thirty (30) days after said persons shall deliver to Grantor a proper, recordable instrument naming a bank as agent to receive such payments or tenders.

Depository Bank. With respect to any Deposit Accounts, (i) maintain the Deposit Accounts at the banks (a “Depository Bank”) described on Annex B-1 or such additional depository banks as described in the notices given pursuant to clause (iv) of this Section 6(q) as have complied with item (iv) hereof, (ii) upon request of the Secured Party, deliver to each depository bank a letter in the form of Annex C hereto with respect to Secured Party’s Rights in such Deposit Account (or on such other reasonable form as may be provided by the Depository Bank) and use commercially reasonable efforts to obtain the execution of such letter by each Depository Bank that the pledge of such Deposit Account has been recorded in the books and records of such bank and that Secured Party shall have dominion and control over such Deposit Account; (iii) upon request of the Secured Party, deliver to Secured Party all certificates or instruments, if any, now or hereafter representing or evidencing the Deposit Accounts, accompanied by duly executed instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to Secured Party; and (iv) notify Secured Party upon establishing any additional Deposit Accounts and, at the request of Secured Party, use commercially reasonable efforts to obtain from such depository bank an executed letter substantially in the form of Annex C (or on such other reasonable form as may be provided by the Depository Bank) and deliver the same to Secured Party. Secured Party agrees not to exercise control over such Deposit Account unless an Event of Default shall have occurred and be continuing.