Maintaining the Account Collateral. So long as any Advance or any other Obligation of any Loan Party under any Loan Document shall remain unpaid, any Letter of Credit shall be outstanding, any Secured Hedge Agreement shall be in effect or any Lender Party shall have any Commitment: (a) Each Grantor will maintain deposit accounts only with the financial institution acting as Collateral Agent hereunder or with a bank (a “Pledged Account Bank”) that has agreed with such Grantor and the Collateral Agent to (i) comply with instructions originated by the Collateral Agent directing the disposition of funds in such deposit account without the further consent of such Grantor and (ii) waive or subordinate, subject to certain exceptions and limitations, in favor of the Collateral Agent all claims of such Pledged Account Bank to such deposit account, such agreement to be in form and substance reasonably satisfactory to the Collateral Agent (a “Deposit Account Control Agreement”); provided, however, this Section 5(a) shall not apply to any deposit accounts of the Grantors to the extent the aggregate balance of such account or accounts does not exceed $1,000,000. (b) The Collateral Agent may, at any time and without notice to, or consent from, any Grantor, transfer, or direct the transfer of, funds from the Pledged Deposit Accounts or the Collateral Account to satisfy such Grantor’s obligations under the Loan Documents if an Event of Default shall have occurred and be continuing.
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Maintaining the Account Collateral. So long as any Advance or any other Obligation of any Loan Party under any Loan Document shall remain unpaid, any Letter of Credit shall be outstanding, any Secured Guaranteed Hedge Agreement shall be in effect or any Lender Party shall have any Commitment:
(ai) Each Grantor the Borrower will maintain deposit accounts all Account Collateral only with the financial institution acting Administrative Agent, as Collateral collateral agent; and
(ii) the Administrative Agent hereunder or with a bank (a “Pledged Account Bank”) that has agreed with such Grantor and shall have the Collateral Agent sole right to (i) comply with instructions originated by the Collateral Agent directing direct the disposition of funds with respect to the Cash Collateral Account subject to the provisions of this Agreement, and it shall be a term and condition of such Cash Collateral Account that, except as otherwise provided herein, notwithstanding any term or condition to the contrary in such deposit any other agreement relating to the Cash Collateral Account, as the case may be, that no amount (including, without limitation, interest on Cash Equivalents credited thereto) will be paid or released to or for the account without of, or withdrawn by or for the further account of, the Borrower or any other Person from the Cash Collateral Account; and
(iii) the Administrative Agent may (with the consent of such Grantor the Required Lenders and (ii) waive or subordinate, subject to certain exceptions and limitations, in favor shall at the request of the Collateral Agent all claims of such Pledged Account Bank to such deposit account, such agreement to be in form and substance reasonably satisfactory to the Collateral Agent (a “Deposit Account Control Agreement”Required Lenders); provided, however, this Section 5(a) shall not apply to any deposit accounts of the Grantors to the extent the aggregate balance of such account or accounts does not exceed $1,000,000.
(b) The Collateral Agent may, at any time and without notice to, or consent from, any Grantorthe Borrower, transfer, or direct the transfer of, funds from the Pledged Deposit Accounts or the Account Collateral Account to satisfy such Grantorthe Borrower’s obligations Obligations under the Loan Documents if an Event of Default shall have occurred and be continuing.
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