Common use of New Blocked Accounts Clause in Contracts

New Blocked Accounts. Each Borrower agrees not to open any new bank account into which proceeds of Collateral are to be delivered or deposited unless concurrently with the opening of such bank account, the Borrowers enter into a Deposit Account Control Agreement, Deposit Account Restriction Agreement or Blocked Account Agreement, as applicable, with respect to such bank account. Upon compliance with the terms set forth above, such bank account shall constitute a Blocked Account, as applicable, for purposes of this Agreement. Notwithstanding anything to the contrary in this Section 2.14 , the Borrowers may maintain one or more accounts constituting Excluded Accounts.

New Blocked Accounts. Each Borrower agrees not to open any new bank account into which proceeds of Collateral are to be delivered or deposited unless concurrently with the opening of such bank account, the Borrowers enter into a Deposit Account Control Agreement, Deposit Account Restriction Agreement or Blocked Account Agreement, as applicable, with respect to such bank account. Upon compliance with the terms set forth above, such bank account shall constitute a Blocked Account, as applicable, Account for purposes of this Agreement. Notwithstanding anything to the contrary in this Section 2.14 Section, the Borrowers may maintain one or more accounts constituting Excluded Accounts.

New Blocked Accounts. Each Borrower agrees not to open any new bank account into which proceeds of Collateral are to be delivered or deposited unless concurrently with the opening of such bank account, the Borrowers enter into a Deposit Account Control Agreement, Deposit Account Restriction Agreement or Blocked Account Agreement, as applicable, with respect to such bank account. Upon compliance with the terms set forth above, such bank account shall constitute a Blocked Account, as applicable, Account for purposes of this Agreement. Notwithstanding anything to the contrary in this Section 2.14 2.14(c), the Borrowers may maintain one or more accounts constituting Excluded Accounts.