Common use of Additional Deposit Accounts Clause in Contracts

Additional Deposit Accounts. Create, open, or deposit any funds into a Deposit Account (as such term is defined in Arizona Revised Statutes Section 47-9102) other than a Deposit Account maintained by Bank unless (i) Bank shall have consented in writing in advance to the addition of such Deposit Account with the relevant bank, and (ii) prior to the time of the opening of any such Deposit Account. Bank, Borrower and such bank shall have executed and delivered to Bank a deposit account control agreement in form and substance satisfactory to Bank. 2.1.2 The following paragraph is hereby added to Section 6.1 of the Credit Agreement as follows:

Appears in 1 contract

Sources: Modification Agreement (Global Water Resources, Inc.)

Additional Deposit Accounts. Create, open, or deposit any funds into a Deposit Account (as such term is defined in Arizona Revised Statutes Section 47-9102) other than a Deposit Account maintained by Bank unless (i) Bank shall have consented in writing in advance to the addition of such Deposit Account with the relevant bank, and (ii) prior to the time of the opening of any such Deposit Account. , Bank, Borrower and such bank shall have executed and delivered to Bank a deposit account control agreement in form and substance satisfactory to Bank. 2.1.2 The following paragraph is hereby added to Section 6.1 of the Credit Agreement as follows:

Appears in 1 contract

Sources: Modification Agreement (Global Water Resources, Inc.)