Location of accounts Sample Clauses
The 'Location of accounts' clause specifies where a party must maintain certain bank accounts relevant to the agreement. Typically, it requires that accounts used for receiving payments, holding funds, or processing transactions be established and kept at a designated financial institution or within a particular jurisdiction. This ensures that both parties know exactly where funds are held, which can affect legal rights, access to funds, and compliance with local regulations, thereby reducing uncertainty and facilitating smooth financial operations.
Location of accounts. Each Borrower shall promptly:
(a) comply with any requirement of the Agent as to the location or re-location of the Accounts (or any of them); and
(b) execute any documents which the Agent specifies to create or maintain in favour of the Security Trustee a Security Interest over (and/or rights of set-off, consolidation or other rights in relation to) the Accounts.
Location of accounts. The Borrower shall promptly:
(a) comply with any requirement of the Lender as to the location or re-location of the Operating Account and the Retention Account (or either of them); and
(b) execute any documents which the Lender specifies to create or maintain in favour of the Lender a Security Interest over (and/or rights of set-off, consolidation or other rights in relation to) the Operating Account and the Retention Account.
Location of accounts. Each Borrower shall promptly:
Location of accounts. The Borrower shall promptly:
Location of accounts. The Company does and shall at all times keep its records concerning the Accounts at its chief executive offices and chief place of business, which offices and place of business shall be at the address specified in Exhibit 12 hereof, or at such other address as the Company may specify by notice actually received by you not less than ten (10) Business Days prior to such change of address and so long as the Company takes all steps requested by you to perfect your security interest in the Loan Security with respect to such change in location.
Location of accounts. The Borrower shall procure that the Owners shall promptly:
(a) comply with any requirement of the Agent as to the location or re-location of the Earnings Account and the Collateral Account (or either of them); and
(b) execute any documents which the Agent specifies to create or maintain in favour of the Security Trustee a Security Interest over (and/or rights of set-off, consolidation or other rights in relation to) the Earnings Account and the Collateral Account.
Location of accounts. The Borrowers and each other holder of an Account shall maintain the Accounts with the Account Bank, free of Security Interest and rights of set-off (other than as created under the Accounts Pledges), until no amount remains outstanding under this Agreement or any other Finance Documents and shall procure that transfers are made from each Account (and irrevocably authorises the Agent following the occurrence of an Event of Default which is continuing to instruct the Account Bank to transfer from each Account) in order to facilitate the payment of amounts required and/or contemplated by this Agreement and the other Finance Documents and shall promptly:
(a) comply with any requirement of the Agent as to the location or re‑location of any of the Accounts;
(b) execute any documents which the Lenders specify to create or maintain in execute any documents which the Agent specifies to create or maintain in favour of the Security Trustee a Security Interest over (and/or rights of set-off, consolidation or other rights in relation to) each Account.
Location of accounts. The Borrower and each of the Guarantors, as the case may be, shall promptly:
(a) comply with any requirement of the Agent as to the location or re-location of any Earnings Account and the Retention Account (or any of them); and
(b) execute an Earnings Account Pledge, a Retention Account Pledge and/or any other documents which the Agent specifies to create or maintain in favor of the Security Trustee a Security Interest over (and/or rights of set-off, consolidation or other rights in relation to) any Earnings Account and the Retention Account (or any of them).
Location of accounts. The Borrower and each of the Guarantors, as the case may be, shall promptly:
(a) comply with any requirement of the Agent as to the location or re-location of the Earnings Account, and without limiting the foregoing, the Borrower and each of the Guarantors agree to segregate the Earnings Account from the banking platform on which their other accounts are located or designated; and
(b) execute any documents which the Agent specifies to create or maintain in favor of the Security Trustee a Security Interest over (and/or rights of set-off, consolidation or other rights in relation to) the Earnings Account.
Location of accounts. Each Obligor shall promptly:
(a) comply with any requirement of the Agent as to the location or re-location of the Earnings Accounts (or any of them); and
(b) execute any documents which the Agent specifies to create or maintain in favour of the Security Trustee a Security over (and/or rights of set-off, consolidation or other rights in relation to) the Earnings Accounts.