Restricted Account Clause Examples

Restricted Account. 10.4.1 Prior to the expiry of the Security Period, the Company shall not be entitled to receive, withdraw or otherwise transfer any credit balance from the Restricted Account except with the prior consent of the Secured Parties. 10.4.2 If, on or prior to such time as Restricted Insurance Proceeds are first received by the Company following the execution of this Agreement,: (a) the Company chooses to open a new bank account and notifies the Secured Parties in writing that this is the Restricted Account for the purposes of this Agreement, the Company shall promptly give notice to the relevant bank or financial institution with whom the Restricted Account is opened, substantially in the form set out in Part A of Schedule 2 of the charging to the Secured Parties pursuant to Clause 3.1(j) of the Company's rights and interests under the Restricted Account (and instructing the relevant bank or financial institution that, prior to the end of the Security Period, the Company shall not be entitled to make withdrawals from such account without the written consent of the Secured Parties) and procure that each addressee of such notice promptly provides an acknowledgement of the Secured Parties' interest to the Secured Parties, substantially in the form set out in Part B of Schedule 2); or (b) the Company chooses to designate one of its existing bank accounts, its right, title and interest in respect of which is to be charged on the date of this Agreement pursuant to Clause 3.1(j) above, and notifies the Secured Parties in writing that this is the Restricted Account for the purposes of this Agreement, the Company shall promptly instruct the relevant bank or financial institution with whom the Restricted Account is held that, prior to the end of the Security Period, the Company shall not be entitled to make withdrawals from such account without the written consent of the Secured Parties. 10.4.3 Upon its first receipt of Restricted Insurance Proceeds following the execution of this Agreement, to the extent it has not already done so, the Company shall notify the Secured Parties in writing as soon as reasonably practicable and in any event within three Business Days of such receipt as to the identity of the Restricted Account.

Restricted Account. (a) Promptly after the commencement of a Trigger Event Period, Borrower shall establish an account (the "Restricted Account") with ▇▇▇▇▇ Fargo Bank, National Association or its successors (the "Restricted Account Bank") in trust for the benefit of Lender in accordance with an agreement among Borrower, Lender, and the Restricted Account Bank, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time (the "Deposit Account Control Agreement"). The Restricted Account shall be under the sole dominion and control of Lender. Lender and its servicer shall have the sole right to make withdrawals from the Restricted Account. All actual, documented costs and expenses for establishing and maintaining the Restricted Account shall be paid by Borrower. Borrower shall ensure that the Restricted Account is open and active, and available to receive funds, promptly upon Borrower's and Restricted Account Bank's receipt of a Cash Management Activation Notice (as hereinafter defined). (b) On the date hereof, Borrower shall deliver to Lender, and Lender will hold in escrow until the occurrence of a Cash Management Trigger Event Period, a form notification executed by Borrower (the "Tenant Direction Letter"), which shall irrevocably notify and direct all tenants under the Leases or any Manager, as applicable, that upon receipt of such Tenant Direction Letter, all Rents and Profits or other amounts due under any Leases, shall be delivered directly to the Restricted Account. Borrower authorizes Lender to, upon the first occurrence of a Trigger Event Period, deliver the Tenant Direction Letter to all Tenants and/or Manager (as applicable), and Borrower agrees to deliver such Tenant Direction Letter to all Tenants if required by Lender, and shall otherwise cause all Rents and Profits to be delivered directly to the Restricted Account. Notwithstanding anything to the contrary contained herein or in any other Loan Documents, in the event Borrower or any Manager shall receive any amounts constituting Rents and Profits during a Trigger Event Period, Borrower shall, and shall cause such Manager to, deposit all such amounts received by Borrower or the Manager into the Restricted Account within one (1) Business Day after receipt thereof. (c) Borrower shall obtain from Restricted Account Bank its agreement to transfer, from and after such time as the Restricted Account Bank has received a Cash Management Activation Notice (as hereinafter defined) an...

Restricted Account. Holder acknowledges that the Company will issue the Restricted Stock covered by this Agreement in the name of Holder; provided, however, such Restricted Stock shall be held in an uncertificated restricted account in the custody of the Company and shall be subject to the terms of this Agreement. Holder further acknowledges that the Restricted Stock shall be held in the Company’s custody until the restrictions lapse. Holder’s acceptance of this Agreement constitutes an irrevocable endorsement of a stock power to the Company in the event any or all of the Restricted Stock is forfeited. In the event of forfeiture, the forfeited shares of Restricted Stock shall be returned to the Company.

Restricted Account. Lender shall establish on its books a demand deposit account for Borrowers into which Borrowers may deposit funds. Withdrawals from the Restricted Account may only be made on five (5) Business Days' prior written notice to Lender, and will be permitted only to the extent that any such withdrawal, in whole or in part, will not cause the principal amount of the Loan to exceed the Borrowing Base. Lender shall, at all times, retain its right of setoff against the Restricted Account.

Restricted Account. 5960 Section 4.2

Restricted Account. 9 13. Closing ......................................................................................................................................... 9 14.

Restricted Account. PFG reserves, in its sole discretion, the right to restrict, terminate and/or suspend Customers access to BEST Direct. Customer acknowledges that if PFG places a restriction on Customers Account, Customer will not be able to use BEST Direct online trading function. Customer agrees to hold PFG harmless for any and all claims, losses, liability, costs and expenses (including but not limited to attorneys fees) arising from PFGs restriction of Customers access to BEST Direct. PFG ▇▇▇▇▇ ves, in its sole discretion, the right to terminate Customers access to BEST Direct without notice for any reason, including but not limited to unauthorized use of Customers access number(s), and/or account number(s), or breach of this Agreement.

Restricted Account. Upon the execution of this Agreement, there shall be jointly established by Buyer and Seller with ________________________ (the "Bank") a restricted account in Seller's name (the "Restricted Account") into which there shall be deposited (a) the Restricted Amount and (b) any amounts in dispute related to the calculation of Estimated Net Book Value pursuant to Section 2.4(b) of the Purchase Agreement (the "Disputed Amount"). The Restricted Amount and the Disputed Amount are sometimes collectively referred to herein as the "Escrowed Amount." Seller and Buyer shall be co-signers on the Restricted Account, and all withdrawals from the Restricted Account shall require the signatures of both Seller and Buyer. Throughout the term of this Agreement, the Escrowed Amount, less any amounts distributed therefrom during the term of this Agreement, shall be maintained as a part of the Restricted Account. Seller may invest or reinvest the Escrowed Amount only in (i) direct obligations of or obligations fully guaranteed by the United States of America or any agency or instrumentality thereof which have a maturity date of 90 days or less and (ii) money market funds investing primarily in the obligations described in item (i). Bank shall be instructed to mail hard copies of the monthly account statements concerning the Restricted Account to both Buyer and Seller.

Restricted Account. Lender acknowledges and agrees that the Loss Reserve Account shall be a restricted account to be used solely for the purposes described in this Agreement. Lender further agrees that it shall not, and has no right, pursuant to this Agreement or otherwise, to withdraw, release, assign or otherwise transfer any funds, accrued interest, or other amounts or assets contained in the Loss Reserve Account (any of the foregoing, “Loss Reserve Account Assets”) for any purpose or to pay any funds or other amounts from the Loss Reserve Account to Lender or to any other Person except as and to the extent specifically authorized by this Article 6. Except with respect to withdrawals, releases, and payments specifically authorized by this Agreement, Lender further acknowledges and agrees that it shall not transfer, assign or grant any control over the Loss Reserve Account or any Loss Reserve Account Assets to any other financial institution or other Person without the prior written consent of FMC. In the event that Lender desires to request such consent of FMC, Lender acknowledges and agrees that FMC shall be entitled to require that an agreement among FMC, Lender and such other Person regarding deposits, withdrawals, procedures and other matters with respect to the Loss Reserve Account and this Agreement be entered into prior to any such movement or transfer of the Loss Reserve Account or any Loss Reserve Account Assets, such agreement to be reasonably satisfactory to FMC.