{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "occurrence-of-an-event-of-default", "type": "clause", "offset": [14, 47]}, {"key": "time-of-determination", "type": "definition", "offset": [62, 83]}, {"key": "excess-availability", "type": "clause", "offset": [89, 108]}, {"key": "the-commitments", "type": "clause", "offset": [180, 195]}], "size": 5, "samples": [{"hash": "GyQK8IZmkt", "uri": "/contracts/GyQK8IZmkt#account-control-event", "label": "Credit Agreement (Freds Inc)", "score": 29.6570835114, "published": true}], "snippet": "means (a) the occurrence of an Event of Default or (b) at any time of determination that Excess Availability is less than the greater of (i) twelve and one-half percent (12.5%) of the Commitments and (ii) $26,250,000.", "hash": "86f1e6d43143eba97ead426ff828b8b4", "id": 1}, {"snippet_links": [{"key": "cure-notice", "type": "definition", "offset": [126, 137]}, {"key": "in-accordance-with", "type": "clause", "offset": [170, 188]}, {"key": "section-82", "type": "clause", "offset": [189, 200]}, {"key": "days-after", "type": "definition", "offset": [218, 228]}, {"key": "no-liquidity-event", "type": "clause", "offset": [414, 432]}, {"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [459, 489]}, {"key": "the-administrative-agent", "type": "definition", "offset": [564, 588]}, {"key": "collateral-agent", "type": "clause", "offset": [594, 610]}, {"key": "event-of-default-exists", "type": "clause", "offset": [640, 663]}, {"key": "the-account", "type": "clause", "offset": [679, 690]}, {"key": "in-clause", "type": "clause", "offset": [755, 764]}, {"key": "excess-availability", "type": "clause", "offset": [783, 802]}, {"key": "consecutive-days", "type": "definition", "offset": [843, 859]}, {"key": "provided-that", "type": "definition", "offset": [1057, 1070]}, {"key": "a-account", "type": "definition", "offset": [1071, 1080]}, {"key": "an-event-of-default-is", "type": "clause", "offset": [1131, 1153]}, {"key": "at-all-times", "type": "definition", "offset": [1257, 1269]}, {"key": "after-the-closing-date", "type": "clause", "offset": [1357, 1379]}], "size": 4, "samples": [{"hash": "hYxWXEtSd8Y", "uri": "/contracts/hYxWXEtSd8Y#account-control-event", "label": "Credit Agreement (Douglas Dynamics, Inc)", "score": 21.3340187073, "published": true}, {"hash": "gOUCTtnhvVC", "uri": "/contracts/gOUCTtnhvVC#account-control-event", "label": "Credit Agreement (Douglas Dynamics, Inc)", "score": 21.3258037567, "published": true}, {"hash": "3FNqVk1L8m9", "uri": "/contracts/3FNqVk1L8m9#account-control-event", "label": "Credit Agreement (Douglas Dynamics, Inc)", "score": 21.3039016724, "published": true}], "snippet": "means the occurrence and continuance of (i) any Event of Default, or (ii) any Liquidity Event (A) for which a Liquidity Event Cure Notice has not been properly delivered in accordance with Section 8.2 within three (3) days after the occurrence thereof, (B) for which a Liquidity Event Cure Notice was timely delivered and a Liquidity Event Cure did not timely occur in accordance with Section 8.2 or (C) for which no Liquidity Event Cure Notice is available. 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For purposes of this Agreement, the occurrence of an Account Control Event shall be deemed continuing at the Administrative Agent\u2019s or Collateral Agent\u2019s option (x) so long as such Event of Default exists, and/or (y) if the Account Control Event arises as a result of a Liquidity Event described in clause (ii) above, until Excess Availability is $10,500,000 or more for thirty (30) consecutive days (unless the Account Control Event has ceased to exist as provided in Section 8.2), in which case an Account Control Event shall no longer be deemed to be continuing for purposes of this Agreement; provided that a Account Control Event shall be", "hash": "0db51fc81864b0abea66dcacbdd94c20", "id": 6}, {"snippet_links": [{"key": "agent-shall", "type": "definition", "offset": [25, 36]}, {"key": "right-to", "type": "definition", "offset": [46, 54]}, {"key": "control-of-the-collateral-account", "type": "clause", "offset": [60, 93]}, {"key": "mandatory-prepayment-events", "type": "clause", "offset": [129, 156]}, {"key": "borrowing-base-deficiency", "type": "definition", "offset": [182, 207]}, {"key": "operative-document", "type": "definition", "offset": [236, 254]}, {"key": "debt-limitations", "type": "definition", "offset": [255, 271]}, {"key": "an-event-of-default", "type": "definition", "offset": [351, 370]}], "size": 2, "samples": [{"hash": "9PApM4fWhnI", "uri": "/contracts/9PApM4fWhnI#account-control-event", "label": "Credit Agreement (Invesco Commercial Real Estate Finance Trust, Inc.)", "score": 32.9520874023, "published": true}], "snippet": "means the Administrative Agent shall have the right to take control of the Collateral Account, as a result of: (a) the following Mandatory Prepayment Events: (i) Section 3.4(b)(ii) (Borrowing Base Deficiency); (ii) Section 3.4(b)(iii) (Operative Document Debt Limitations); (iii) Section 3.4(c) (Mandatory Prepayment Events - Full Repayments); or (b) an Event of Default,", "hash": "4287464c554548002cdff3dab9b80ee4", "id": 7}, {"snippet_links": [{"key": "april-15", "type": "definition", "offset": [33, 41]}], "size": 1, "samples": [{"hash": "9yzDm31Ql0W", "uri": "/contracts/9yzDm31Ql0W#account-control-event", "label": "Forbearance Agreement, Eighth Amendment to Credit Agreement and Fourth Amendment to Amended and Restated Addendum to Credit Agreement (Freds Inc)", "score": 30.3689250946, "published": true}], "snippet": "means the opening of business on April 15, 2019.", "hash": "4a40471a545c55445cd9cc4b40740d25", "id": 8}, {"snippet_links": [{"key": "agent-shall", "type": "definition", "offset": [25, 36]}, {"key": "right-to", "type": "definition", "offset": [46, 54]}, {"key": "control-of-the-collateral-account", "type": "clause", "offset": [60, 93]}, {"key": "mandatory-prepayment-events", "type": "clause", "offset": [129, 156]}, {"key": "borrowing-base-deficiency", "type": "definition", "offset": [182, 207]}, {"key": "operative-document", "type": "definition", "offset": [236, 254]}, {"key": "debt-limitations", "type": "definition", "offset": [255, 271]}, {"key": "an-event-of-default", "type": "definition", "offset": [351, 370]}, {"key": "payment-is-due", "type": "clause", "offset": [400, 414]}, {"key": "grace-period", "type": "definition", "offset": [422, 434]}, {"key": "collateral-agent", "type": "clause", "offset": [548, 564]}, {"key": "benefit-of-the-lenders", "type": "clause", "offset": [573, 595]}], "size": 1, "samples": [{"hash": "8IacDuUPWXz", "uri": "/contracts/8IacDuUPWXz#account-control-event", "label": "Revolving Credit Agreement (Invesco Commercial Real Estate Finance Trust, Inc.)", "score": 32.6365509033, "published": true}], "snippet": "means the Administrative Agent shall have the right to take control of the Collateral Account, as a result of: (a) the following Mandatory Prepayment Events: (i) Section 3.4(b)(ii) (Borrowing Base Deficiency); (ii) Section 3.4(b)(iii) (Operative Document Debt Limitations); (iii) Section 3.4(c) (Mandatory Prepayment Events - Full Repayments); or (b) an Event of Default, irrespective of whether any payment is due or any grace period has expired. \u201cAdministrative Agent\u201d means \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587 Bank USA, as administrative agent for the Lenders and as collateral agent for the benefit of the Lenders.", "hash": "79b6d227c2e3dbc2b676c42aaaee271d", "id": 9}, {"snippet_links": [{"key": "funding-availability", "type": "definition", "offset": [72, 92]}, {"key": "adjusted-amount", "type": "definition", "offset": [93, 108]}, {"key": "maximum-revolving-commitment-amount", "type": "definition", "offset": [133, 168]}, {"key": "next-business-day", "type": "clause", "offset": [224, 241]}, {"key": "the-applicable", "type": "clause", "offset": [248, 262]}, {"key": "termination-event", "type": "definition", "offset": [311, 328]}], "size": 1, "samples": [{"hash": "7L0UoYAkPmY", "uri": "/contracts/7L0UoYAkPmY#account-control-event", "label": "Credit and Security Agreement (Alpha Natural Resources, Inc.)", "score": 25.7310066223, "published": true}], "snippet": "means the occurrence of any of the following events on any day: (i) the Funding Availability Adjusted Amount is less than 15% of the Maximum Revolving Commitment Amount as of such day and such condition continues beyond the next Business Day, (ii) the Applicable Liquidity is less than $300,000,000, or (iii) a Termination Event.", "hash": "2163bd7cf2dc091ca88032f910f448be", "id": 10}], "next_curs": "CmISXGoVc35sYXdpbnNpZGVyY29udHJhY3Rzcj4LEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIeYWNjb3VudC1jb250cm9sLWV2ZW50IzAwMDAwMDBhDKIBAmVuGAAgAA==", "definition": {"size": 25, "snippet": "means (a) the occurrence of an Event of Default or (b) at any time of determination that Excess Availability is less than the greater of (i) twelve and one-half percent (12.5%) of the Commitments and (ii) $26,250,000.", "title": "Account Control Event", "id": "account-control-event", "examples": ["If the Borrower shall fail to reimburse a Letter of Credit Issuer for a drawing under a Letter of Credit issued by such Letter of Credit Issuer by 12:00 noon on the date of demand therefor, or immediately without demand if such draw shall occur at any time after an <strong>Account Control Event</strong> Notice has been given, the Borrower shall be deemed to have requested a Borrowing of a Base Rate Refunding Loan in the amount of such drawing.", "If the Borrowers shall fail to reimburse a Letter of Credit Issuer for a drawing under a Letter of Credit issued by such Letter of Credit Issuer by 12:00 noon (Eastern Time) on the date of demand therefor, or immediately on demand if such draw shall occur at any time after an <strong>Account Control Event</strong> Notice has been given, the Borrowers shall be deemed to have requested a Borrowing of a Base Rate Refunding Loan in the amount of such drawing.", "The Administrative Agent shall have the right at any time after a Transaction <strong>Account Control Event</strong> has occurred to assume control, or direct the Collateral Agent to assume control, over the Lockbox Account and the Collection Account, and direct the bank maintaining the Lockbox Account and the Collection Account to transfer the funds in the Lockbox Account and the Collection Account to an account designated by the Administrative Agent.", "Neither this Agreement nor any right, interest or obligation hereunder may be assigned by any party hereto (except to the beneficiaries of \u2587\u2587\u2587\u2587\u2587\u2587 and \u2587\u2587\u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587&#x27;\u2587 family trust or other estate planning trust or entity) without the prior written consent of the other party hereto and any attempt to do so will be void; provided, however, Purchaser may complete the purchase of the interest through a wholly-owned subsidiary.", "Each of the undersigned Borrower Parties hereby represents and warrants that (i) this Amendment constitutes a legal, valid and binding obligation of such Person, enforceable against it in accordance with its terms, subject to Debtor Relief Laws and general equitable principles (whether considered in a proceeding in equity or at law) and (ii) upon the Effective Date, no <strong>Account Control Event</strong> shall exist.", "Unless an <strong>Account Control Event</strong> Notice has been delivered and has not been rescinded by the Agent, the Credit Parties may access the Collection Account and direct the disposition of funds contained therein from time to time.", "The Borrower shall not make any change (other than non-substantive changes in format) in its instructions to Obligors regarding the deposit of Collections with respect to the Receivables, except (following the occurrence of an <strong>Account Control Event</strong>) to the extent the Administrative Agent directs the Borrower to change such instructions to Obligors or prior to the occurrence of an <strong>Account Control Event</strong>, the Administrative Agent consents in writing to such change.", "The Administrative Agent shall have the right at any time after a Transaction <strong>Account Control Event</strong> has occurred to assume exclusive control over each Lockbox in the name of the Originator.", "Furthermore, for so long as there is no breach of this Agreement by the SPE Borrower, the Originator, the Servicer or the Parent, GECC and WBCC hereby agree to forbear from sending a notice to the Account Bank or the Lockbox Processor that any <strong>Account Control Event</strong> has occurred as a result of the filing of the Petition.", "On the Closing Date, none of the Borrower, the Servicer, any Seller or any Originator has consented to any Bank complying with instructions of any Person (other than prior to the occurrence of an <strong>Account Control Event</strong>, the Servicer, and following the occurrence of an <strong>Account Control Event</strong>, the Administrative Agent) with respect to any Account."], "related": [["control-event", "Control Event", "Control Event"], ["cash-control-event", "Cash Control Event", "Cash Control Event"], ["change-of-control-event", "Change of Control Event", "Change of Control Event"], ["change-in-control-event", "Change in Control Event", "Change in Control Event"], ["internal-control-event", "Internal Control Event", "Internal Control Event"]], "related_snippets": [], "updated": "2026-04-15T04:23:14+00:00"}, "json": true, "cursor": ""}}