Pledged Accounts. (A) Each Grantor shall cause each bank and other financial institution which maintains a Controlled Account (each a “Controlled Account Bank”) to execute and deliver to the Collateral Agent, in form and substance satisfactory to the Collateral Agent, a Controlled Account Agreement with respect to such Controlled Account, duly executed by each Grantor and such Controlled Account Bank, pursuant to which such Controlled Account Bank among other things shall irrevocably agree, with respect to such Controlled Account, that (i) at any time after any Grantor, the Collateral Agent or any Buyer shall have notified such Controlled Account Bank that an Event of Default has occurred or is continuing, such Controlled Account Bank will comply with any and all instructions originated by the Collateral Agent directing the disposition of the funds in such Controlled Account without further consent by such Grantor, (ii) such Controlled Account Bank shall waive, subordinate or agree not to exercise any rights of setoff or recoupment or any other claim against the applicable Controlled Account other than for payment of its service fees and other charges directly related to the administration of such Controlled Account and for returned checks or other items of payment, (iii) at any time after any Grantor, the Collateral Agent or any Buyer shall have notified such Controlled Account Bank that an Event of Default has occurred or is continuing, with respect to each such Controlled Account, such Controlled Account Bank shall not comply with any instructions, directions or orders of any form with respect to such Controlled Accounts other than instructions, directions or orders originated by the Collateral Agent, (iv) all funds deposited by any Grantor with such Controlled Account Bank shall be subject to a perfected, first priority security interest in favor of the Collateral Agent, and (v) upon receipt of written notice from the Collateral Agent during the continuance of an Event of Default, such Controlled Account Bank shall immediately send to the Collateral Agent by wire transfer (to such account as the Collateral Agent shall specify, or in such other manner as the Collateral Agent shall direct) all such funds and other items held by it. No Grantor shall create or maintain any Pledged Account without the prior written consent of the Collateral Agent (in its sole and absolute discretion) and complying with the terms of this Agreement.
Pledged Accounts. Section 4.01. Creation of Pledged Accounts 19 Section 4.02. Excess Cash Account; Cash Collateral Account 12 Section 4.03. Qualified Investments Account 13 Section 4.04. Payments in Trust 15 Section 4.05. Investment of Funds in Pledged Accounts 15 Section 4.06. Transfers from Accounts During the Continuance of an Event of Default 17 Section 4.07. Reports, Certification and Instructions 17 Section 4.08. Depository Bank Undertakings 18 Section 4.09. Force Majeure 20 Section 4.10. Clearing Agency 20 Section 4.11. Return of Funds to the Company 20
Pledged Accounts. Attached hereto as Schedule 7 is a true and complete list of all Pledged Accounts (as defined in the Security Agreement) maintained by the Borrower.
Pledged Accounts. The Borrower shall not move any Pledged Account from the institution at which they are maintained on the Closing Date, except as permitted in accordance with Section 2.8.
Pledged Accounts. Borrower’s and each Loan Party’s Pledged Accounts shall at all times be subject to a Control Agreement, provided however, that the Control Agreement for Borrower’s Account maintained at Treasury Brokerage, LLC, account number TC15080, shall not be required until fifteen (15) days following the Effective Date, provided that until such Control Agreement is in place, no amount of any Credit Extension may be deposited into such Account. If the depository institution party to a Control Agreement notifies Borrower or Collateral Agent that the depository institution intends to close any Pledged Account or terminate any Control Agreement:
Pledged Accounts. (a) The Pledged Accounts are, and will continue to be, maintained at, and controlled and directed from, the respective offices of those institutions set forth on Annex E hereto (such institutions, the "Pledged Account Banks"). Concurrently with the establishment of any Pledged Account, each Assignor will cause the applicable Pledged Account Bank to execute and deliver to the Collateral Agent a consent substantially in the form of Annex D hereto. No Assignor shall establish any additional Pledged Account until (i) it shall have given to the Collateral Agent prior written notice of intention so to do, clearly describing such new account and providing such other information in connection therewith as Collateral Agent may reasonably request and (ii) with respect to such new account, it shall have taken all action to maintain the security interest of the Collateral Agent in such Collateral intended to be granted hereby at all times fully perfected and in full force and effect, including by having any bank or other institution which maintains such account to execute and deliver to the Collateral Agent a consent substantially in the form Annex D hereto.
Pledged Accounts. No Borrower shall, nor shall any Borrower permit any of its Subsidiaries to, have on deposit in or credited to any depository account or securities account (each within the meaning of the UCC) (other than any Account) Cash or Cash Equivalents in an aggregate amount at any one time outstanding in excess of $600,000.
Pledged Accounts. (a) The Borrower shall establish, on or prior to the Closing Date, an Eligible Bank Account No. 4072874419) at the Collateral Agent in the name of the Collateral Agent (the “Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Secured Parties.
Pledged Accounts. 39 4.4 Receipt of Payments by Loan Parties .40 4.5 Application of Deposits.................... .40 4.6 Liens............................................ ..... ,41 4.7 Rights After an Event of Default...... ,41 5.
Pledged Accounts. In addition to the requirements set forth in Section 4,1 and Section 4.2, each Borrower shall cause all Deposit Accounts existing on the Closing Date or subsequently (with Lender’s approval) coming into existence, other than the accounts described in Schedule 5.25 hereof and any constituting a Lock-Box Account or a Blocked Account (herein, a ""Pledged Account"), to be made the subject of a tri-party agreement among such -39-
