Deposit Account Control Agreement definition

Deposit Account Control Agreement means an agreement, in form and substance reasonably satisfactory to the Administrative Agent, among any Loan Party, a banking institution holding such Loan Party’s funds, and the Administrative Agent with respect to collection and control of all deposits and balances held in a deposit account maintained by such Loan Party with such banking institution.

Deposit Account Control Agreement has the meaning assigned to such term in the Security Agreement.

Deposit Account Control Agreement means an agreement, in form and substance reasonably satisfactory to the Collateral Agent, among any Grantor, a banking institution holding such Grantor’s funds, and the Collateral Agent with respect to collection and control of all deposits and balances held in a deposit account maintained by any Grantor with such banking institution.

Examples of Deposit Account Control Agreement in a sentence

• Applicant agrees to do all acts which Secured Party deems necessary or desirable to protect the Collateral or to otherwise carry out the provisions of this Agreement; including but not limited to the execution of a Deposit Account Control Agreement.

• The Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal, over such account, such account shall be subject to a Deposit Account Control Agreement and/or acknowledgement of notice, as applicable, and each Borrower hereby grants the Administrative Agent (for the benefit of the Agents, the Lenders and the Issuing Banks) a security interest in the LC Collateral Account.

• Each Collection Account shall be subject to a Deposit Account Control Agreement at all times that a Seller has directed any Account Debtors to pay amounts owing under Purchased Receivables into such Collection Account and any Collections are deposited in such Collection Account.

• After the occurrence of any Servicer Termination Event, the Purchaser will be authorized to give notice of exclusive control under each Deposit Account Control Agreement and, upon giving such notice (each, an “Activation Notice”), will have exclusive authority to make withdrawals and distributions from each Collection Account until the Final Collection Date.

More Definitions of Deposit Account Control Agreement

Deposit Account Control Agreement any Control Agreement entered into by the Administrative Agent, a Loan Party and a financial institution holding a Deposit Account of such Loan Party pursuant to which the Administrative Agent is granted “control” (for purposes of the UCC) over such Deposit Account.

Deposit Account Control Agreement means an agreement substantially in the form of Exhibit 5 hereto or such other form that is reasonably satisfactory to the Collateral Agent establishing the Collateral Agent’s Control with respect to any Deposit Account.

Deposit Account Control Agreement means a letter agreement, substantially in the form of Annex 1 (Form of Deposit Account Control Agreement) (with such changes as may be agreed to by the Administrative Agent), executed by the Grantor, the Administrative Agent and the relevant financial institution.

Deposit Account Control Agreement has the meaning specified in the Pledge and Security Agreement.

Deposit Account Control Agreement means a deposit account control agreement in the form specified in Exhibit H to the Security Agreement, or in such other form as is reasonably acceptable to the Agent.

Deposit Account Control Agreement means a letter agreement, in form and substance reasonably satisfactory to the Collateral Agent, executed by the relevant Loan Party, the Collateral Agent and the relevant Deposit Account Bank (or, with respect to any Deposit Accounts located outside of the United States, customary security arrangements in the applicable jurisdictions for perfecting a security interest in such Deposit Accounts and the assets deposited therein or credited thereto).

Deposit Account Control Agreement has the meaning specified in Section 8.12(a).