DACA definition
Examples of DACA in a sentence
In the event that Master ▇▇▇▇▇▇ receives notice that the DACA is to be or has been terminated by the depository institution that is a party to such DACA, the Master Tenant shall promptly make alternative arrangements to establish a new DACA with the prior written consent of the Secured Party and shall direct all future receivables to be paid into the deposit account(s) specified in such new DACA.
Further, Master Tenant covenants that it shall obtain a DACA over any new deposit account it obtains, unless Secured Party permits otherwise.
Master Tenant also covenants that it shall not terminate any DACA without the prior written consent of the Secured Party.
This Agreement and all rights and obligations under this Agreement, including matters of construction, validity and performance, shall be governed by the laws of the state in which the Healthcare Facility is located (the “State”), except that the law controlling the perfection and priority of Liens of Lender on any deposit account as original collateral designated in a DACA may be governed by the UCC of the jurisdiction of the depository bank, within the meaning of Section 9-104 of the UCC.
Until the DACA is in effect, Seller shall comply with the terms and conditions of this Agreement including this subprovision.