Common use of Deposit and Brokerage Accounts Clause in Contracts

Deposit and Brokerage Accounts. For each deposit account or brokerage account that any Co-Borrower at any time opens or maintains, such Co-Borrower shall, at Agent’s request and option, pursuant to an agreement in form and substance reasonably satisfactory to Agent, cause the depository bank or securities intermediary, as applicable, to agree to comply at any time with instructions from Agent to such depository bank or securities intermediary, as applicable, directing the disposition of funds from time to time credited to such deposit or brokerage account, without further consent of the applicable Co-Borrower. With respect to any automated clearing house (ACH) services offered by Agent or Bank to any Co-Borrower, Agent agrees to cause Bank to require Co-Borrowers to pre-fund any such ACH transfer if (x) an Event of Default has occurred and is continuing or (y) any two Lenders deliver to Agent a written request to require Co-Borrowers to do so.