Common use of Commingling of Accounts Clause in Contracts

Commingling of Accounts. Each of Holdings and the Borrower will not, nor will it cause or permit any Subsidiary to, commingle amounts relating to Securitization Assets sold pursuant to a Securitization with cash or any other amounts of Holdings, the Borrower and the Subsidiaries other than the temporary commingling of collections on and proceeds of any accounts receivable or related assets of the Borrower and its Subsidiaries, in each case as may be necessary to identify and sort such collections and proceeds.” (o) Article VIII of the Credit Agreement is amended by adding a new paragraph to the end of such Article to read as follows: “Each party hereto authorizes the Agent to enter into customary intercreditor agreements in connection with Securitizations permitted under this Agreement.”

Appears in 3 contracts

Sources: Credit Agreement (Dex Media Inc), Credit Agreement (Dex Media East LLC), Credit Agreement (Dex Media West LLC)