Common use of Administration of Deposit Accounts Clause in Contracts

Administration of Deposit Accounts. Borrower and each Borrowing Base Guarantor shall maintain Bank of America and other Lenders as Borrower’s and each Borrowing Base Guarantor’s principal depository banks, including for the maintenance of operating and deposit accounts, lockbox administration, funds transfer and information reporting service, in each case, to the extent related to the credit facility contemplated hereunder. The list of Deposit Accounts delivered in writing to Agent prior to the Closing Date (the “Deposit Account List”) sets forth all Deposit Accounts maintained by Borrower and each Borrowing Base Guarantor, including all Dominion Accounts, as of the date hereof. Borrower and each Borrowing Base Guarantor shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than (i) an account exclusively used for payroll, trust purposes, ▇▇▇▇▇ cash, payroll taxes or employee benefits, (ii) an account containing not more than $10,000 at any time, (iii) an account that does not contain proceeds of Collateral or (iv) the Concentration Account). Borrower and/or each Borrowing Base Guarantor, as applicable, shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent) to have control over such Deposit Account constituting Collateral or any Property deposited therein. Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and shall deliver to Agent an updated Deposit Account List at the time of such notification.

Administration of Deposit Accounts. Borrower and each Borrowing Base Guarantor shall maintain Bank of America and other Lenders as Borrower’s and each Borrowing Base Guarantor’s principal depository banks, including for the maintenance of operating and deposit accounts, lockbox administration, funds transfer and information reporting service, in each case, to the extent related to the credit facility contemplated hereunder. The list of Deposit Accounts delivered in writing to Agent prior to the Closing Date (the “Deposit Account List”) sets forth all Deposit Accounts maintained by Borrower and each Borrowing Base Guarantor, including all Dominion Accounts, as of the date hereofClosing Date. Borrower and each Borrowing Base Guarantor shall take all actions necessary to establish Agent’s control of each such Deposit Account (other than (i) an account exclusively used for payroll, trust purposes, ▇▇▇▇▇ cash, payroll taxes or employee benefits, (ii) an account containing not more than $10,000 at any time, time or (iii) an account that does not contain proceeds of Collateral or (iv) the Concentration AccountCollateral). Borrower and/or each Borrowing Base Guarantor, as applicable, shall be the sole account holder of each Deposit Account and shall not allow any other Person (other than Agent) to have control over such Deposit Account constituting Collateral or any Property deposited therein. Borrower shall promptly notify Agent of any opening or closing of a Deposit Account and shall deliver to Agent an updated Deposit Account List at the time of such notification.