Securities Accounts; Deposit Accounts. (a) With respect to any Securities Account, such Grantor shall cause any applicable securities intermediary maintaining such Securities Account to show on its books that the Administrative Agent is the entitlement holder with respect to such Securities Account, and, if requested by the Administrative Agent, cause such securities intermediary to enter into an agreement in form and substance satisfactory to the Administrative Agent with respect to such Securities Account pursuant to which such securities intermediary shall agree to comply with the Administrative Agent’s “entitlement orders” without further consent by such Grantor, as requested by the Administrative Agent; and
Securities Accounts; Deposit Accounts. The Grantors shall enter into account control agreements governing each Securities Account and Deposit Account constituting Collateral, granting to the Collateral Agent Control over such Securities Accounts and Deposit Accounts, such agreements to be in form and substance reasonably satisfactory to the Collateral Agent, and the Grantors shall have no Securities Account or Deposit Account not subject to such an account control agreement, in each case except for (i) Deposit Accounts and Securities Accounts, the aggregate amount on deposit in which does not at any time exceed $100,000, and (ii) payroll and tax withholding accounts maintained as such in the ordinary course of business.
Securities Accounts; Deposit Accounts. Depositary hereby agrees and confirms that Depositary has established the Accounts as set forth and defined in this Agreement. The parties hereto hereby agree that:
Securities Accounts; Deposit Accounts. (a) With respect to any Securities Account that is not an Excluded Account, such Grantor shall cause such securities intermediary to enter into an agreement in form and substance satisfactory to the Administrative Agent with respect to such Securities Account pursuant to which such securities intermediary shall agree to comply with the Administrative Agent’s “entitlement orders” without further consent by such Grantor; and
Securities Accounts; Deposit Accounts. (a) With respect to (i) any Securities Account, such Grantor shall cause any applicable securities intermediary maintaining such Securities Account to show on its books that the Administrative Agent is the entitlement holder with respect to such Securities Account, and, if requested by the Administrative Agent, cause such securities intermediary to enter into a Securities Account Control Agreement in form and substance reasonably satisfactory to the Administrative Agent with respect to such Securities Account pursuant to which such securities intermediary shall agree to comply with the Administrative Agent’s “entitlement orders” without further consent by such Grantor, as requested by the Administrative Agent; and (ii) any Deposit Account, such Grantor shall enter into and shall cause the depositary institution maintaining such account to enter into a Deposit Account Control Agreement in form and substance reasonably satisfactory to the Administrative Agent pursuant to which the Administrative Agent shall be granted “control” (within the meaning of Section 9-104 of the UCC) over such Deposit Account; provided that the foregoing shall not require the delivery by any Grantor of a Control Agreement with respect to any Investment Account (other than a Designated Deposit Account (but subject to Section 5.3 of the Credit Agreement)) of such Grantor if the balance of such Investment Account is less than $100,000 individually, and the balance of all Investment Accounts of such Grantor that are not subject to the Administrative Agent’s perfected Lien does not exceed $500,000 in the aggregate.
Securities Accounts; Deposit Accounts. Subject to the Security Agreement and except as permitted by SECTION 5.01(v), it shall not establish or maintain any Securities Account, Deposit Account or similar account unless the Collateral Agent shall have received a Control Agreement in respect of such Securities Account, Deposit Account or similar account; provided that, this requirement shall not apply to (A) any Deposit Account with an average daily balance of less than $100,000, so long as the aggregate daily balances in all such accounts do not exceed $1,000,000, (B) any payroll, withholding tax or other fiduciary account or (C) any account for payment of workers compensation and employment claims. Each Credit Party shall comply in all material respects with the provisions of each Control Agreement to which it is a party.
Securities Accounts; Deposit Accounts. Subject to the Security Agreement and except as permitted by SECTION 5.01(v), it shall not establish or maintain any Securities Account, Deposit Account or similar account unless the Collateral Agent shall have received a Control Agreement in respect of such Securities Account, Deposit Account or similar account; provided that, this requirement shall not apply to any Deposit Account that is a disbursement account and either (A) does not have average daily balances in excess of $100,000 for each such account or (B) is an account for payment of workers compensation and employment claims, so long as the aggregate amount of such excluded Deposit Accounts does not exceed $1,000,000 in the aggregate for all such accounts. Each Credit Party shall comply in all material respects with the provisions of each Control Agreement to which it is a party. 84
Securities Accounts; Deposit Accounts. Subject to the Security Agreement and except as permitted by Section 8.07, it shall not, and shall not permit any of its Subsidiaries, to establish or maintain any domestic Securities Account, Deposit Account or similar account unless the Collateral Agent shall have received a Control Agreement in respect of such domestic Securities Account, Deposit Account or similar account; provided, however, that (i) the Credit Parties and their Subsidiaries may establish and maintain any Approved Account and (ii) no Credit Party shall be required to deliver a Control Agreement to the Collateral Agent with respect to any Approved Account, in each case so long as the aggregate balance in all such Approved Accounts does not exceed three million Dollars ($3,000,000) at any time outstanding. Each Credit Party shall comply in all material respects with the provisions of each Control Agreement to which it is a party.”
Securities Accounts; Deposit Accounts. Subject to the Security Agreement and except as permitted by SECTION 5.01(v), it shall not establish or maintain any Securities Account, Deposit Account or similar account unless the Collateral Agent shall have received a Control Agreement in respect of such Securities Account, Deposit Account or similar account; provided that this requirement shall not apply to (A) any Deposit Account or Securities Account with an average daily balance of less than $100,000, so long as the aggregate daily balances in all such accounts do not exceed $1,000,000, (B) any payroll, withholding tax or other fiduciary account, or (C) any account for payment of workers compensation and employment claims. Each Credit Party shall comply in all material respects with the provisions of each Control Agreement to which it is a party.
Securities Accounts; Deposit Accounts. (a) With respect to any Securities Account other than Exempt Accounts maintained by any Grantor, such Grantor shall (within (i) thirty (30) days of the Closing Date (or such longer period as the Administrative Agent shall agree)) with respect to Securities Accounts maintained by any Grantor on the Closing Date and (ii) promptly with respect to any Securities Accounts established by any Grantor after the Closing Date), if requested by the Administrative Agent, cause such securities intermediary to enter into an agreement in form and substance satisfactory to the Administrative Agent with respect to such Securities Account pursuant to which such securities intermediary shall agree to comply with the Administrative Agent’s “entitlement orders” without further consent by such Grantor, as requested by the Administrative Agent;
