Collateral Accounts Established Sample Clauses

Collateral Accounts Established. The Collateral Agent acknowledges, confirms and agrees that it has established the Collateral Accounts as set out in Section 2.02(a), which shall be maintained in the name of the Borrower but under the exclusive “control” (within the meaning of Section 8-106(d) of the UCC) of the Collateral Agent at all times until the termination of this Agreement.
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Collateral Accounts Established. Depositary Agent acknowledges, confirms and agrees that it has established the Collateral Accounts as set out in Section 2.02(a) (Establishment of Collateral Accounts), which shall be maintained in the name of Borrower or the applicable Guarantor, as specified in Section 2.02(a) (Establishment of Collateral Accounts) (and the parties hereto agree that the Borrower or applicable Guarantor is the “entitlement holder” (as referred to in UCC Section 8-102(a)(7)) with respect to the financial assets (within the meaning of UCC Section 8-102(a)(9) and including cash, the “Financial Assets”) credited to the Collateral Accounts, and as such shall be entitled to all the rights that entitlement holders have under applicable law with respect to securities accounts, including the right to withdraw funds from, or close, the Collateral Accounts but, in each case, in compliance with the requirements of this Depositary Agreement).
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Collateral Accounts Established. Depository Bank acknowledges, confirms and agrees that it has established the Collateral Accounts (inclusive of any sub-account thereof unless otherwise specified herein) in the name of Borrower and in the form of segregated accounts all as more particularly set out in Section 2.02(a) hereof. All amounts from time to time held in each Collateral Account shall be disbursed in accordance with the terms, conditions, and provisions hereof, shall be maintained in the name of Borrower (but the parties hereto agree that the Collateral Accounts shall be under the “control” (within the meaning of Section 8-106(d) of the UCC) of Lender at all times until the termination of this Depository Agreement).
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Collateral Accounts Established. The Depository Bank is hereby directed by the Borrower to establish the non-interest bearing trust accounts comprising the Collateral Accounts. Depository Bank acknowledges, confirms and agrees that it has established the Collateral Accounts as set out in Section 2.02Section 2.02(a), which shall be maintained in the name of Borrower (but the parties hereto agree that the Collateral Agent is the “customer” (as referred to in UCC Section 9-104(a)(3)) with respect to the Collateral Accounts and as such shall be entitled to all the rights that customers of banks have under applicable law with respect to deposit accounts, including the right to withdraw funds from, or close, the Collateral Accounts, but, in each case, in compliance with the requirements of this Depository Agreement).
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Related to Collateral Accounts Established

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Collateral Account Party B shall open and maintain a segregated account, which shall be an Eligible Account, and hold, record and identify all Posted Collateral in such segregated account.

  • Establishment of Collateral Accounts The Custodian hereby confirms and agrees that:

  • Control Accounts; Approved Deposit Accounts Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that:

  • Special Collateral Account After an Event of Default has occurred -------------------------- and is continuing, all cash proceeds of the Collateral received by the Agent shall be deposited in a special deposit account with the Agent and held there as security for the Secured Obligations. The Agent shall invest any and all available funds deposited in such special deposit account, within five (5) business days after the date the relevant funds become available, in securities issued as fully guaranteed or insured by the United States Government or any agency thereof backed by the full faith and credit of the United States having maturities of three (3) months from the date of acquisition thereof (collectively, "Government Obligations"). The Assignor hereby acknowledges and agrees that the Agent shall not have any liability with respect to, and the Assignor hereby indemnifies the Agent against, any loss resulting from the acquisition of the Government Obligation and the Agent shall not have any obligation to monitor the trading activity of any such Governmental Obligations on and after the acquisition thereof for the purpose of obtaining the highest possible return with respect thereto, the Agent's responsibility being limited to acquiring such Governmental Obligations.

  • Control of Collateral Accounts To establish “control” of the Collateral Accounts by the Secured Party under Sections 9-104 and 9-106 of the UCC, the Financial Institution agrees to comply with any order or instruction from the Secured Party directing the deposit, withdrawal, transfer or redemption of the cash or other financial assets credited to a Collateral Account (a “Secured Party Order”) without the need for consent by the Grantor or any other Person.

  • LC Collateral Account (i) The Administrative Agent is hereby authorized to establish and maintain at the Notice Office, in the name of the Administrative Agent and pursuant to a dominion and control agreement, a restricted deposit account designated “The Lead Borrower LC Collateral Account.” Each Credit Party shall deposit into the LC Collateral Account from time to time the Cash Collateral required to be deposited under Section 2.13(j) hereof.

  • CONCERNING MARGIN ACCOUNTS, SENIOR SECURITY ACCOUNTS, AND COLLATERAL ACCOUNTS 1. The Custodian shall, from time to time, make such deposits to, or withdrawals from, a Senior Security Account as specified in a Certificate received by the Custodian. Such Certificate shall specify the Series for which such deposit or withdrawal is to be made and the amount of cash and/or the amount and kind of Securities specifically allocated to such Series to be deposited in, or withdrawn from, such Senior Security Account for such Series. In the event that the Fund fails to specify in a Certificate the Series, the name of the issuer, the title and the number of shares or the principal amount of any particular Securities to be deposited by the Custodian into, or withdrawn from, a Senior Securities Account, the Custodian shall be under no obligation to make any such deposit or withdrawal and shall so notify the Fund.

  • Cash Collateral Accounts Maintain, and cause each of the other Loan Parties to maintain, all Cash Collateral Accounts with Bank of America or another commercial bank located in the United States, which has accepted the assignment of such accounts to the Administrative Agent for the benefit of the Secured Parties pursuant to the terms of the Security Agreement.

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