Deposit and Operating Accounts Sample Clauses
The 'Deposit and Operating Accounts' clause establishes requirements for the creation and maintenance of specific bank accounts related to a transaction or ongoing business operations. Typically, it outlines which party must open deposit or operating accounts, where these accounts should be held, and how funds are to be managed or transferred within them. For example, a borrower may be required to maintain an operating account at a designated bank, with all revenues deposited there and certain payments made from it. This clause ensures proper control and oversight of funds, helping to safeguard the interests of the parties involved and facilitate smooth financial operations.
Deposit and Operating Accounts. The Borrowers shall establish and maintain their primary deposit and operating accounts at M&T Bank.
Deposit and Operating Accounts. The Borrower will maintain its primary operating and savings accounts with the Lender.
Deposit and Operating Accounts. The Borrower will maintain and will cause each of the Guarantors and its Subsidiaries to maintain primary deposit and operating accounts with Capital One or such other Lender (or any one or more of them) acceptable to Borrower; provided, however, the target of an Acquisition will be allowed up to eighteen (18) months following such Acquisition to transfer accounts to Capital One or such other Lender (or any one or more of them) acceptable to Borrower.
Deposit and Operating Accounts. Maintain all deposit and operating accounts with the Lender until all Obligations are repaid and satisfied in full in accordance with this Agreement and the Commitment is terminated.
Deposit and Operating Accounts. Borrowers shall maintain all of their primary deposit and operating accounts with Bank (it being understood that Field Services will be allowed to maintain local banking accounts in Oklahoma City to use in connection with its trade payables and payroll) so long as any of the Revolving Loans remain outstanding.
Deposit and Operating Accounts. The Borrowers shall establish and maintain their primary deposit and operating accounts at M&T Bank; provided, however, that LDRV may maintain the deposit account held at Bank of America ending in 6758 so long as (i) such account is closed on or before December 31, 2021 and (ii) the amount on deposit in such account does not exceed $200,000.
Deposit and Operating Accounts. The Borrower will maintain its primary deposit and operating accounts with Capital One or such other Lender (or any one or more of them) acceptable to the Borrower.
Deposit and Operating Accounts. 39 Section 12.13. Production Proceeds.......................................39 Section 12.14. Field Audits; Other Information...........................39 Section 12.15. Insurance.................................................39 Section 12.16. Subsidiaries..............................................40 Section 12.17 Post Closing Requirements..................................40 ARTICLE XIII NEGATIVE COVENANTS..........................................................40 Section 13.1. Limitations on Fundamental Changes.........................40 Section 13.2. Disposition of Assets......................................40
Deposit and Operating Accounts. Section 12.11 of the Agreement is hereby deleted in its entirety and restated as follows:
Deposit and Operating Accounts. 112115 Section 5.17. Landlord Waivers........................................................... 112115