Common use of Depository Relationship Clause in Contracts

Depository Relationship. Broker/Dealer shall cause the primary banking depository relationship of Broker/Dealer to continue to be maintained with the Lender within ninety (90) days of the Closing Date. For the avoidance of doubt, this provision is not intended to, and shall not, require the Broker/Dealer to retain proceeds of the Loans for any period of time in its depository accounts. No Obligor shall maintain any other deposit, investment, securities, custodial or other account of any kind whatsoever with any bank, brokerage house or financial institution other than Lender, except for (i) those existing accounts set forth on those listed on Schedule 7(j) (for a period of ninety (90) days after Closing Date), (ii) Obligors’ clearing brokerage accounts entered into in the Ordinary Course of Business, and (iii) and custody and prime brokerage accounts with lenders providing Indebtedness of the type permitted by Section 7(n).