Common use of Primary Depository Clause in Contracts

Primary Depository. Subject to the provisions of Section 3.1(k) and 3.2(b), Borrower within 30 days of the Closing Date shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates.

Appears in 2 contracts

Samples: Loan and Security Agreement (Auspex Pharmaceuticals, Inc.), Loan and Security Agreement (Auspex Pharmaceuticals, Inc.)

AutoNDA by SimpleDocs

Primary Depository. Subject to the provisions of Section 3.1(k) and 3.2(b), Borrower within Within 30 days of the Closing Date Date, Borrower shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliatesAffiliates, provided however, that Borrower may maintain a deposit account with the issuing bank securing Borrower’s reimbursement obligations in respect of the letter of credit listed on the Schedule, the balance in such account not to exceed 105% of the face amount of such letter of credit.

Appears in 1 contract

Samples: Loan and Security Agreement (Liposcience Inc)

Primary Depository. Subject to the provisions of Section 3.1(k) and 3.2(b3.2(d), Borrower within 30 days of the Closing Date shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates. Notwithstanding the foregoing, Borrower shall be permitted to maintain deposit accounts outside Bank with aggregate balances not to exceed $50,000 at any time.

Appears in 1 contract

Samples: Loan and Security Agreement (Acorn Energy, Inc.)

AutoNDA by SimpleDocs

Primary Depository. Subject to the provisions of Section 3.1(k3.1(l) and 3.2(b), Borrower within 30 days of the Closing Date shall maintain all its depository and operating accounts with Bank and its primary investment accounts with Bank or Bank’s affiliates.

Appears in 1 contract

Samples: Loan and Security Agreement (Aldexa Therapeutics, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.