Covenant Regarding New Deposit Accounts; Lock Boxes. Before opening or replacing any Collateral Deposit Account, other Deposit Account or establishing a new Lock Box, each Grantor shall (a) provide notice to the Administrative Agent and (b) upon the request of the Administrative Agent, deliver a Deposit Account Control Agreement to the Administrative Agent in order to give the Administrative Agent Control of such Deposit Account and/or Lock Box.
Appears in 2 contracts
Sources: Guarantee and Collateral Agreement (Forum Merger Corp), Revolving Loan Credit Agreement (CDW Finance Corp)
Covenant Regarding New Deposit Accounts; Lock Boxes. Before opening or replacing any Collateral Deposit Account, other Deposit Account (other than Excluded Deposit Accounts), or establishing a new Lock Box, each Grantor the Grantors shall (a) provide notice to the Administrative Agent Agent, and (b) upon the request of the Administrative Agent, deliver a Deposit Account Control Agreement to the Administrative Agent in order to give the Administrative Agent Control of such Deposit Account and/or Lock Box.
Appears in 1 contract