Control of the Accounts. As of and after the date of this Agreement, Owner may not make debits to or withdrawals from the Accounts and Owner shall have no access to the Accounts or to funds at any time on either deposit in the Accounts. Bank shall have the exclusive access to the Accounts and to funds at any time on deposit in the Accounts; provided, however, that so long as no Event of Default has occurred, Bank shall pay interest on the funds on deposit in the Accounts quarterly in arrears at the interest rate applicable to time deposits as determined by Bank from time in its sole discretion.
Appears in 2 contracts
Sources: Third Party Security Agreement: Specific Rights to Payment (Barrett Business Services Inc), Third Party Security Agreement: Specific Rights to Payment (Barrett Business Services Inc)