Common use of Linked Accounts Clause in Contracts

Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account; provided, however, that at any time during the continuance of an Event of Default or Financial Covenant Event, the Borrower shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) Business Days following the Borrower’s or each Servicer’s receipt of such instruction.

Appears in 2 contracts

Sources: Receivables Financing Agreement (Sabre Corp), Receivables Financing Agreement (Sabre Corp)

Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account; provided, however, that at any time during the continuance of an Event of Default or Financial Covenant Eventan Unmatured Event of Default, the Borrower shall, if so instructed in writing by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) Business Days following the Borrower’s or each the Servicer’s receipt of such instruction.

Appears in 2 contracts

Sources: Receivables Financing Agreement (EnLink Midstream, LLC), Receivables Financing Agreement (EnLink Midstream Partners, LP)

Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account; provided, however, that at any time during the continuance of an Event of Default or Financial Covenant EventDefault, the Borrower shall, if so instructed by the Administrative Agent Agent, the Class A Lender Representative or the Class B Lender Representative (in each case, acting in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) Business Days following the Borrower’s or each the Servicer’s receipt of such instruction.

Appears in 1 contract

Sources: Receivables Financing Agreement (E.W. SCRIPPS Co)

Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account; provided, however, that at any time during the continuance of a Potential Default or an Event of Default or Financial Covenant EventDefault, the Borrower shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) Business Days following the Borrower’s or each the Servicer’s receipt of such instruction.

Appears in 1 contract

Sources: Receivables Financing Agreement (Xperi Inc.)

Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account; provided, however, that at any time during the continuance of an Early Amortization Event, Event of Default or Financial Covenant Eventan Unmatured Event of Default, the Borrower shall, if so instructed by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) 2 Business Days following the Borrower’s or each the Servicer’s receipt of such instruction.

Appears in 1 contract

Sources: Receivables Financing Agreement (Covia Holdings Corp)

Linked Accounts. Except for any Permitted Linked Account, the Borrower shall not permit any Linked Account to exist with respect to any Collection Account; provided, however, that at any time during the continuance of an Event of Default or Financial Covenant a Termination Event, the Borrower shall, if so instructed in writing by the Administrative Agent (in its sole discretion), cause each Permitted Linked Account to cease being a “Linked Account” promptly, but not later than two (2) Business Days following the Borrower’s or each the Servicer’s receipt of such instruction.

Appears in 1 contract

Sources: Receivables Loan Agreement (Elanco Animal Health Inc)