Depositary and Other Deposit Accounts Clause Samples
Depositary and Other Deposit Accounts. Each Grantor shall maintain all of its principal deposit accounts with the Administrative Agent, except to the extent permitted by the Credit Agreement. No Grantor shall open any depositary or other deposit accounts, except in accordance with the Credit Agreement and unless such Grantor shall have given the Administrative Agent 10 days’ prior written notice of its intention to open any such new deposit accounts. The Grantors shall deliver to the Administrative Agent a revised version of Schedule 6 showing any changes thereto within 5 days of any such change. Each Grantor hereby authorizes the financial institutions at which such Grantor maintains a deposit account to provide the Administrative Agent with such information with respect to such deposit account as the Administrative Agent may from time to time reasonably request, and each Grantor hereby consents to such information being provided to the Administrative Agent. Each Grantor will cause each financial institution at which such Grantor maintains a depositary or other deposit account to enter into a bank agency or other similar agreement with the Administrative Agent and such Grantor, in form and substance satisfactory to the Administrative Agent, in order to give the Administrative Agent “control” (as defined in the UCC) of such account. Subject to the terms of the Credit Agreement, each Grantor shall direct all Account Debtors to make all payments on the Accounts directly to a bank account or Lockbox maintained with the Administrative Agent (an “Agent Account”). If any Grantor or any director, officer, employee, agent of such Grantor, or any other Person acting for or in concert with such Grantor shall receive any monies, checks, notes, drafts or other payments relating to or as proceeds of Accounts or other Collateral, such Grantor and each such Person shall receive all such items in trust for, and as the sole and exclusive property of, the Administrative Agent and the Lenders and, immediately upon receipt thereof, shall remit the same (or cause the same to be remitted) in kind to the Agent Account. The Grantors, jointly and severally, agree to pay all fees, costs and expenses which the Administrative Agent incurs in connection with opening and maintaining the Agent Account and depositing for collection by the Administrative Agent any check or other item of payment received by the Administrative Agent on account of the Obligations. All of such fees, costs and expenses shall constitute Secured Obli...
Depositary and Other Deposit Accounts. No Grantor shall open any depositary or other deposit accounts unless such Grantor shall have given to Lenders 10 calendar days' prior written notice (or such lesser notice as Lenders may agree in its sole discretion) of its intention to open any such new deposit accounts.
Depositary and Other Deposit Accounts. Each Grantor shall maintain all of its principal deposit accounts with a Lender. No Grantor shall open any depositary or other deposit accounts unless such Grantor shall have given the Administrative Agent 10 days’ prior written notice of its intention to open any such new deposit accounts. The Grantors shall deliver to the Administrative Agent a revised version of Schedule 6 showing any changes thereto within 10 days of any such change. Each Grantor hereby authorizes the financial institutions at which such Grantor maintains a deposit account to provide the Administrative Agent with such information with respect to such deposit account as the Administrative Agent may from time to time reasonably request, and each Grantor hereby consents to such information being provided to the Administrative Agent. Each Grantor will, upon the Administrative Agent’s request, cause each financial institution at which such Grantor maintains a depositary or other deposit account to enter into a bank agency or other similar agreement with the Administrative Agent and such Grantor, in form and substance satisfactory to the Administrative Agent, in order to give the Administrative Agent “control” (as defined in the UCC) of such account.
Depositary and Other Deposit Accounts. Each Grantor hereby authorizes the financial institutions at which such Grantor maintains a deposit account to provide Agent with such information with respect to such deposit account as Agent may from time to time reasonably request, and each Grantor hereby consents to such information being provided to Agent. Each Grantor will cause each financial institution at which such Grantor maintains a deposit account, securities account or other similar account to enter into an account control agreement or other similar agreement with Agent and such Grantor, in form and substance reasonably satisfactory to Agent, in order to give Agent “control” (within the meaning set forth in Section 9-104 or 8-106 of the UCC, as applicable) of such account.
Depositary and Other Deposit Accounts. No Grantor shall open any Deposit Accounts unless such Grantor shall have given the Administrative Agent 30 days’ prior written notice of its intention to open any such new Deposit Accounts. The Grantors shall deliver to the Administrative Agent a revised version of Schedule 6 showing any changes thereto within 5 days of any such change. Each Grantor hereby authorizes the financial institutions at which such Grantor maintains a Deposit Account to provide the Administrative Agent with such information with respect to such Deposit Account as the Administrative Agent may from time to time reasonably request, and each Grantor hereby consents to such information being provided to the Administrative Agent. Such Grantor will, upon the Administrative Agent’s request, cause each financial institution at which such Grantor maintains a Deposit Account to enter into a bank agency or other similar agreement with the Administrative Agent and such Grantor, in form and substance satisfactory to the Administrative Agent, in order to give the Administrative Agent “control” (as defined in the UCC) of such Deposit Account.
Depositary and Other Deposit Accounts. The Company shall maintain all of the Pledged Deposit Accounts with LaSalle. The Company shall not open any depositary or other deposit accounts unless the Company shall have given the Administrative Agent 10 days’ prior written notice of its intention to open any such new deposit accounts. The Company shall deliver to the Administrative Agent a revised version of Schedule 3 showing any changes thereto within 5 days of any such change. The Company hereby authorizes the financial institutions at which the Company maintains a deposit account to provide the Administrative Agent with such information with respect to such deposit account as the Administrative Agent may from time to time reasonably request, and the Company hereby consents to such information being provided to the Administrative Agent. The Company will, upon the Administrative Agent’s request, cause each financial institution at which the Company maintains a depositary or other deposit account to enter into a bank agency or other similar agreement with the Administrative Agent and the Company, in form and substance satisfactory to the Administrative Agent, in order to give the Administrative Agent “control” (as defined in the UCC) of such account. The Company shall cause all payments made in respect of the Collateral to be deposited into the Pledged Deposit Accounts promptly after its receipt thereof.
Depositary and Other Deposit Accounts. Borrower shall not open any depositary or other deposit accounts unless Borrower shall have given to Lenders 10 calendar days’ prior written notice (or such lesser notice as Lenders may agree in its sole discretion) of its intention to open any such new deposit accounts.
Depositary and Other Deposit Accounts. Subject to Section 10.10 of the Credit Agreement, no Grantor shall open or maintain any depositary or other deposit accounts unless such accounts are subject to a deposit account control agreement in favor of the Administrative Agent, for itself and the benefit of the Lenders, in form and substance reasonably acceptable to the Administrative Agent. The Grantors shall deliver to the Administrative Agent a revised version of Schedule 6 showing any changes thereto within 5 days of any such change. Each Grantor hereby authorizes the financial institutions at which such Grantor maintains a deposit account to provide the Administrative Agent with such information with respect to such deposit account as the Administrative Agent may from time to time reasonably request, and each Grantor hereby consents to such information being provided to the Administrative Agent. Subject to Section 10.10 of the Credit Agreement, each Grantor will, upon the Administrative Agent’s request, cause each financial institution at which such Grantor maintains a depositary or other deposit account to enter into a bank agency or other similar agreement with the Administrative Agent and such Grantor, in form and substance satisfactory to the Administrative Agent, in order to give the Administrative Agent “control” (as defined in the UCC) of such account.
Depositary and Other Deposit Accounts. No Grantor shall open any depositary or other deposit account (other than an account with LaSalle) unless such Grantor shall have given the Administrative Agent 10 days’ prior written notice of its intention to open such account. The Grantors shall deliver to the Administrative Agent a revised version of Schedule 6 within five days of opening any account (other than an account with LaSalle). Each Grantor hereby authorizes the financial institutions at which such Grantor maintains a deposit account to provide the Administrative Agent with such information with respect to such deposit account as the Administrative Agent may from time to time reasonably request, and each Grantor hereby consents to such information being provided to the Administrative Agent.
Depositary and Other Deposit Accounts. Each Grantor shall maintain all of its principal deposit accounts with the Administrative Agent.