Blocked Account Agreement means with respect to an account established by a Loan Party, an agreement, substantially in the form of Exhibit L hereto or otherwise in form and substance reasonably satisfactory to the Collateral Agent, establishing Control (as defined in the Security Agreement) of such account by the Collateral Agent and whereby the bank maintaining such account agrees, during any Cash Dominion Trigger Period, to comply only with the instructions originated by the Collateral Agent without the further consent of any Loan Party.
Blocked Account Agreement means any agreement among a Borrower, the First Lien Agent and a Clearing Bank, concerning the collection of payments which represent the proceeds of Accounts or of any other Collateral.
Blocked Account Agreement has the meaning assigned to such term in Section 2.21(a).
Examples of Blocked Account Agreement in a sentence
All of such fees, costs and expenses which remain unpaid by the Borrowers or any other Loan Party pursuant to any Blocked Account Agreement, to the extent same shall have been paid by the Lender hereunder, shall constitute Revolving Loans hereunder, shall be payable to the Lender by the Borrowers upon demand, and, until paid, shall bear interest at the highest rate then applicable to the Revolving Loans hereunder.
More Definitions of Blocked Account Agreement
Blocked Account Agreement shall have the meaning assigned to such term in Section 5.11(a).
Blocked Account Agreement means any agreement executed by a depository bank and the Administrative Agent, for the benefit of the Secured Parties (or executed by the Former Agent and such depository bank has acknowledged in writing to the satisfaction of the Administrative Agent the resignation of the Former Agent and the succession to such role by the Administrative Agent), and acknowledged and agreed to by a Loan Party, in form acceptable to the Administrative Agent in its sole discretion which provides the Administrative Agent with “control” (within the meaning of the UCC) of the applicable Blocked Account.
Blocked Account Agreement shall have the meaning provided in Section 9.15(a).
Blocked Account Agreement means the Administrative Agent’s standard blocked account agreement (or similar agreement) signed by the Borrower relating to the Commercial Blocked Account, the Government Blocked Account, and payments on all such Accounts, as the same may be modified, supplemented, restated or amended from time to time, all of the foregoing which must be in form and substance reasonably acceptable to the Administrative Agent.
Blocked Account Agreement as defined in Subsection 4.16(b)(iii).
Blocked Account Agreement means, with respect to any account, a blocked account agreement in favor of the Collateral Agent, all in form and substance reasonably satisfactory to the Collateral Agent.
Blocked Account Agreement. An Agreement, in form satisfactory to the Agent, which Agreement recognizes the Agent's Collateral Interest in the contents of the DDA which is the subject of such Agreement and agrees that such contents shall be transferred only to the Concentration Account or as otherwise instructed by the Agent.