Maintaining the Accounts Sample Clauses
The "Maintaining the Accounts" clause requires a party, typically the service provider or contractor, to keep accurate and up-to-date financial records related to the contract. This includes documenting all transactions, receipts, and expenditures associated with the project or services provided. Such records may need to be made available for inspection by the other party or an auditor upon request. The core function of this clause is to ensure transparency and accountability in financial dealings, helping to prevent disputes and facilitate audits or reviews if necessary.
Maintaining the Accounts. So long as any Secured Obligations (as defined in the Security Trust Agreement) remain Outstanding:
(A) To the extent required by the Security Trust Agreement and the Indenture, the Administrative Agent shall maintain, or cause to be maintained, each Account in the name of the related Grantor (as defined in the Security Trust Agreement) only with a bank (an “Account Bank”) that has entered into a letter agreement in substantially the form of Exhibit B to the Security Trust Agreement (or made such other arrangements as are acceptable to the Administrative Agent and the Security Trustee as contemplated by Section 3.03(b)(ii) of the Security Trust Agreement) with such Grantor and the Security Trustee (an “Account Letter”).
(B) The Administrative Agent shall promptly instruct each Person obligated at any time to make any payment to any Grantor for any reason (an “Obligor”) to make such payment to an Account meeting the requirements of clause 2.04(b)(iii)(A) above.
(C) Upon the termination of any Account Letter or other arrangement with respect to the maintenance of an Account by any Grantor or any Account Bank, the Administrative Agent shall immediately notify all Obligors (as defined in the Security Trust Agreement) that were making payments to such Account to make all future payments to another Account meeting the requirements of clause (A) above. 11
Maintaining the Accounts. So long as any Secured Obligations (as defined in the Security Trust Agreement) remain Outstanding:
(A) The Administrative Agent shall maintain, or cause to be maintained, each Account in the name of the related Grantor (as defined in the Security Trust Agreement) only with a bank (an “Account Bank”) that has entered into a letter agreement in substantially the form of Exhibit C to the Security Trust Agreement (or made such other arrangements as are acceptable to the Administrative Agent and the Indenture Trustee) with such Grantor and the Indenture Trustee (an “Account Letter”).
(B) The Administrative Agent shall promptly instruct each Person obligated at any time to make any payment to any Grantor for any reason (an “Obligor”) to make such payment to an Account meeting the requirements of clause 2.04(b)(iii)(A) above.
(C) Upon the termination of any Account Letter or other arrangement with respect to the maintenance of an Account by any Grantor or any Account Bank, the Administrative Agent shall immediately notify all Obligors (as defined in the Security Trust Agreement) that were making payments to such Account to make all future payments to another Account meeting the requirements of clause (A) above.
Maintaining the Accounts. So long as any Security shall remain outstanding: (a) The Pledgor will maintain the Investment Account with the Trustee.
Maintaining the Accounts. So long as the Obligations (as defined in the Reimbursement Agreement) remain outstanding, Pledgor will maintain each Account with the respective Depository or such other depository as Pledgee shall approve in writing from time to time. The Accounts shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.
Maintaining the Accounts. (a) Except as expressly provided in this Agreement, so long as any amount shall remain unpaid or there shall be any commitment to extend credit to any Borrower under the Loan Documents:
(i) the Pledgors will maintain the Public Company Pledged Securities Account, the In-Registration Company Pledged Securities Account and the Private Company Pledged Securities Account with the Broker;
(ii) it shall be a term and condition of the Public Company Pledged Securities Account, the In-Registration Company Pledged Securities Account and the Private Company Pledged Securities Account, notwithstanding any term or condition to the contrary in any other agreement relating to such Account, that except as otherwise provided by the terms of this Agreement, no amount (including interest on Permitted Investments) shall be paid or released to or for the account of, or withdrawn by or for the account of, any Pledgor or any other Person from such Public Company Pledged Securities Account, such In-Registration Company Pledged Securities Account or such Private Company Pledged Securities Account; and
(iii) the Public Company Pledged Securities Account, the In-Registration Company Pledged Securities Account and the Private Company Pledged Securities Account shall be subject to such applicable laws, and such applicable regulations of the Federal Reserve Board and of any other appropriate banking or governmental authority, as may now or hereafter be in effect; the Public Company Pledged Securities Account, the In-Registration Company Pledged Securities Account and the Private Company Pledged Securities Account shall not be subject to debit or withdrawal, and no Person shall have any control over or right of withdrawal from the Public Company Pledged Securities Account, the In- Registration Company Pledged Securities Account or the Private Company Pledged Securities Account other than as provided in this Agreement.
(b) The initial delivery of Material Contracts, Consents, Certificates and Powers relating to Pledged Securities shall be made to the Broker and deposited in the Public Company Pledged Securities Account, In- Registration Company Pledged Securities Account or the Private Company Pledged Securities Account, as the case may be, and the Pledgors shall provide evidence satisfactory to the Administrative Agent of such delivery and deposit. The Pledgors shall deliver Material Contracts, Consents, Certificates and Powers relating to Pledged Securities from time to time after the...
Maintaining the Accounts. So long as any Security shall remain outstanding: (a) The Pledgor will maintain the Investment Account with the Trustee.
Maintaining the Accounts. So long as the Obligations (as defined in the Reimbursement Agreement) remain outstanding, Pledgor will maintain each Account with the respective Depository or such other depository as Pledgee shall approve in writing from time to time. The Accounts shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.