Common use of Additional Deposit Accounts Clause in Contracts

Additional Deposit Accounts. Subject to the time periods set forth in Sections 5.9 and 5.14, each Borrower will not, and will not permit any other Loan Party to, directly or indirectly, open, maintain or otherwise have any deposit accounts at any bank or other financial institution where cash or Cash Equivalents are or may be deposited or maintained with any Person, other than the Controlled Accounts and the Exempt Accounts.

Appears in 1 contract

Sources: Abl Credit Agreement (Forterra, Inc.)

Additional Deposit Accounts. Subject to the time periods set forth in Sections 5.9 and 5.14, each Borrower Mid-Holdings and the Borrowers will not, and will not permit any other Loan Party to, directly or indirectly, open, maintain or otherwise have any deposit accounts at any bank or other financial institution where cash or Cash Equivalents are or may be deposited or maintained with any Person, other than the Controlled Accounts and the Exempt Accounts.

Appears in 1 contract

Sources: Abl Credit Agreement (Forterra, Inc.)