Common use of Linked Accounts Clause in Contracts

Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account maintained at Truist Financial Corp. or Bank of America, N.A.; provided, however, that at any time during the continuance of an Event of Default, an Unmatured Event of Default or a Level II Ratings Event, the Borrower shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than 2 Business Days following the Borrower’s or the Servicer’s receipt of such instruction.

Appears in 2 contracts

Samples: Receivables Financing Agreement (Owens & Minor Inc/Va/), Receivables Financing Agreement (Owens & Minor Inc/Va/)

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Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account maintained at Truist Financial Corp. or Bank of America, N.A. or JPMorgan Chase Bank, N.A.; provided, however, that at any time during the continuance of an Event of Default, Default or an Unmatured Event of Default or a Level II Ratings EventDefault, the Borrower shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than 2 Business Days following the Borrower’s or the Servicer’s receipt of such instruction.

Appears in 2 contracts

Samples: Receivables Financing Agreement (Compass Minerals International Inc), Receivables Financing Agreement (Compass Minerals International Inc)

Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account maintained at Truist Financial Corp. or Bank of America, N.A. or JPMorgan Chase Bank, N.A.; provided, however, that at any time during the continuance of an Event of Default, Default or an Unmatured Event of Default or a Level II Ratings EventDefault, the Borrower shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than 2 Business Days following the Borrower’s or the Servicer’s receipt of such instruction.. (aa)

Appears in 1 contract

Samples: Receivables Financing Agreement (Compass Minerals International Inc)

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Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account maintained at Truist Financial Corp. or Bank of America, N.A.; provided, however, that at any time during the continuance of an Event of Default, an Unmatured Event of Default or a Level II Ratings Event, the Borrower shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than 2 Business Days following the Borrower’s or the Servicer’s receipt of such instruction.

Appears in 1 contract

Samples: Receivables Financing Agreement (Owens & Minor Inc/Va/)

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