Other Deposit Accounts Sample Clauses
Other Deposit Accounts. Each Credit Party agrees not to open any lockbox or new bank account into which Proceeds of Collateral are to be delivered or deposited or into which proceeds of Revolving Loans under the CIT Financing Agreement are to be deposited unless concurrently with the opening of such lockbox and/or bank account, CIT, acting as agent for lenders under the CIT Financing Agreement and Lender, such Credit Party and the bank which will maintain such lockbox or at which such account will be maintained, execute a Depository Account Control Agreement with respect to such lockbox and/or related bank account; provided, however, that (i) prior to the Lender’s request therefor, the Credit Parties shall not be required to obtain Depository Account Control Agreements with respect to those bank accounts listed on Schedule 3.2(c)-2 which are specifically designated as not being required to be subject to Depository Account Control Agreements as of the Closing Date or with respect to such bank accounts acquired after the Closing Date which are specifically approved by the Lender in writing as not being required to be subject to Depository Account Control Agreements until such time as the Lender may request, and (ii) so long as no Default or Event of Default exists the Credit Parties shall not be required to obtain Depository Account Control Agreements with respect to the bank accounts (including payroll accounts) listed on Schedule 3.6(b)-1 attached hereto (the bank accounts described in this clause (ii) collectively, the “Excluded Bank Accounts”); provided further, however, that no Credit Party shall permit the balance of any Excluded Bank Account to exceed One Hundred Ten Thousand Dollars ($110,000) or the aggregate balance of all Excluded Bank Accounts to exceed Five Hundred Fifty Thousand Dollars ($550,000). Upon compliance with the terms set forth above, such lockbox and/or bank account (other than the bank accounts described in clause (i) above and the Excluded Bank Accounts) shall constitute a Depository Account for purposes of this Financing Agreement. Each Credit Party represents and warrants to the Lender that Schedule 3.6(b)-2 attached hereto lists all bank accounts of such Credit Party (other than the Excluded Bank Accounts) as of the date hereof. Without limiting the requirements of the first sentence of this Section, if a Credit Party at any time acquires any bank account not listed on Schedule 3.2(c)-2 attached hereto, such Credit Party shall promptly deliver to the ...
Other Deposit Accounts. Account number 5501044548 maintained by the REIT with Green Bank for receipt of the proceeds of all Equity Issuances, (b) Account number 639632731 maintained by M▇▇▇▇ National CY Lyndhurst MT, LLC, with JPMorgan Chase Bank, and (c) Account number 792975612 maintained by M▇▇▇▇ National International-Fort Worth MT, LLC, with JPMorgan Chase Bank.
Other Deposit Accounts. Each of the Agents, on behalf of themselves and their Related Secured Parties, hereby agree and acknowledge that, the Revolving Agent shall be the party entitled to direct the disposition of funds and send exclusive control notices (or equivalent), as applicable, in respect of any other deposit accounts of the Loan Parties that are subject to control agreements in favor of any Agent pursuant to the terms of the Secured Credit Documents (“Other Controlled Accounts”) until the Revolving Agent sends an instruction to the relevant depositary bank in respect of any such Other Controlled Account directing such depositary bank that the applicable Controlling Other Pari Passu Agent shall be the party entitled to direct the disposition of funds and send exclusive control notices (or equivalent), as applicable, with respect to such Other Controlled Account (each such instruction, an “Other Account Agent Transfer Notice”). The Revolving Agent hereby agrees to deliver an Other Account Agent Transfer Notice to any such depositary bank (i) upon the Discharge of Revolving Credit Obligations and (ii) prior to the Discharge of Revolving Credit Obligations, at the request of the Initial Controlling Other Pari Passu Agent, after the expiration of the Initial Standstill Period and so long as the Revolving Agent has not commenced any Enforcement Action. The Term Loan Agent and each Additional Agent hereby agree not to issue any instructions concerning any Other Controlled Account or the disposition of any funds in any Other Controlled Account until after the delivery of an Other Account Agent Transfer Notice by the Revolving Agent to the relevant depositary bank.
Other Deposit Accounts. All deposit accounts of each Loan Party shall be subject to a Control Agreement other than any Lockbox Account which shall be subject to an applicable Depositary Agreement pursuant to Section 5.1.
Other Deposit Accounts. All time, demand, savings, passbook, and similar accounts maintained with an organization that is engaged in the business of banking, including without limitation a bank, credit union, savings bank, trust company, and savings and loan association owned or maintained by the Company, wherever located;