Deposit and Concentration Accounts. (a) Schedule 5 hereto sets forth, as of the date hereof, each Deposit Account and Concentration Account that each Grantor maintains. For each Concentration Account that any Grantor at any time opens or maintains, such Grantor shall cause the depositary bank to agree to comply with instructions from the Administrative Agent to such depositary bank directing the disposition of funds from time to time credited to such Concentration Account, without further consent of such Grantor or any other Person, pursuant to an agreement reasonably satisfactory to the Administrative Agent (such agreement, a “Blocked Account Agreement”) (which Blocked Account Agreement may also be for the benefit of the ABL Agent); provided that no Grantor shall be required to take the foregoing actions with respect to any Concentration Account until the later of (A) 60 days after the Closing Date and (B) in the case of Concentration Accounts opened after the Closing Date, at the time of establishment of such Concentration Account (or, in each case, such later date as the Administrative Agent shall in its reasonable discretion agree). The Administrative Agent agrees with each Grantor that the Administrative Agent shall not give any such instructions or withhold any withdrawal rights from any Grantor unless an Event of Default has occurred and is continuing. Without the prior written consent of the Administrative Agent, no Grantor shall modify or amend the instructions pursuant to any Blocked Account Agreement.
Deposit and Concentration Accounts. The banks, account names and account numbers for all existing Lock-Boxes and Lock-Box Accounts are correctly listed on Exhibit III. Each of the Lock-Box Accounts has been transferred into Buyer’s name. Such Originator has not granted any Person, other than Buyer (and the Administrator, as its pledgee) dominion and control of any Lock-Box or Lock-Box Account, or the right to take dominion and control of any such account at a future time or upon the occurrence of a future event.
Deposit and Concentration Accounts. (a) At any time after the Effective Date, at the Collateral Agent's request, the Grantors shall establish the Concentration Account. Effective upon notice to the Grantors from the Collateral Agent after the occurrence and during the continuance of an Event of Default (which notice may be given by telephone if promptly confirmed in writing), the Collateral Agent may instruct each depositary bank to transfer immediately all funds held in each deposit account of the Grantors to the Concentration Account. Each Grantor irrevocably authorizes the Collateral Agent to notify each depositary bank (i) of the occurrence of an Event of Default and (ii) of the matters referred to in this Section 4.06.
Deposit and Concentration Accounts. All of such Grantor’s Deposit Accounts (other than Excluded Deposit Accounts) are correctly set forth on Schedule 11 to the Perfection Certificate.
