Common use of Maintain Accounts Clause in Contracts

Maintain Accounts. To permit the Administrative Agent to monitor the Borrowers’ financial performance and condition, each Borrower shall maintain all of such Borrower’s depository accounts with any of the Lenders or other depository institutions disclosed to, and reasonably acceptable to the Administrative Agent, with all significant deposits to be maintained with any Lender. Upon the occurrence of an Event of Default which continues uncured or waived, all third party depository accounts shall be transferred to, maintained with, and controlled by the Administrative Agent. Any amounts not deposited directly with the Lenders and received by any third party institution during any transition shall be transferred on a daily basis to an account established and controlled by the Administrative Agent.

Maintain Accounts. To permit the Administrative Agent to monitor the Borrowers’ ' financial performance and condition, each Borrower shall maintain all of such Borrower’s 's depository accounts with any of the Lenders or other depository institutions disclosed to, and reasonably acceptable to the Administrative Agent, with all significant deposits to be maintained with any Lender. Upon the occurrence of an Event of Default which continues uncured or waived, all third party depository accounts shall be transferred to, maintained with, and controlled by the Administrative Agent. Any amounts not deposited directly with the Lenders and received by any third party institution during any transition shall be transferred on a daily basis to an account established and controlled by the Administrative Agent.