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Deposit Accounts and Securities Accounts
Deposit Accounts and Securities Accounts contract clause examples
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Deposit Accounts. The location, description and beneficiary of each Deposit Account is accurately set forth on [Schedule 12.1](hh).

Deposit Accounts. It shall not, and it shall ensure that each other Credit Party does not, open or maintain any Deposit Account except with the Lender or as disclosed in [Schedule 12.1](hh) provided, however, that # Deposit Accounts indicated as “Permanent Accounts” on [Schedule 12.1](hh) maintained other than with the Lender or its Affiliates shall not at any time have, in the aggregate, funds deposited therein in excess of US$400,000 or, if the Marfa, Texas facility is in operation, US$800,000.

Deposit Accounts. No Borrower shall maintain any Deposit Accounts, or accounts holding Investment Property, except for Excluded Accounts and accounts with respect to which Agent has an Account Control Agreement, provided, that Borrowers shall have sixty (60) days following the establishment or acquisition of any new Deposit Account or account holding Investment Property (other than Excluded Accounts) to enter into and cause each applicable depository or securities intermediary to enter into, an Account Control Agreement.

Deposit Accounts. Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Agent has an Account Control Agreement; provided that no Account Control Agreement shall be required for any Excluded Account.

Deposit Accounts. Borrower shall maintain its primary deposit and operating accounts with Independent Bank.

Deposit Accounts. Other than Excluded Accounts, neither Borrower nor any Qualified Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Agent has an Account Control Agreement.

Deposit Accounts. Agent’s Lien hereunder encumbers all amounts credited to any Deposit Account of a Collateral Party, including sums in any blocked, lockbox, sweep or collection account and all sums in the Collateral Accounts, other than, in each case, a Deposit Account that constitutes Excluded Property. Each Collateral Party hereby authorizes and directs each bank or other depository to deliver to Agent, upon request stating that an Event of Default has occurred and is continuing, all balances in any such Deposit Account maintained for such Collateral Party, without inquiry into the authority or right of Agent to make such request.

Deposit Accounts. [Schedule 8.3] lists all Deposit Accounts maintained by any Collateral Party. Each Collateral Party shall take all actions reasonably necessary to establish Agent’s Lien on each Deposit Account in accordance with the Loan Documents. The Collateral Parties shall be the sole account holders of each Deposit Account and shall not allow any Person (other than Agent and the depository bank) to have control over their Deposit Accounts or any Property deposited therein. Without limiting [Section 10.2.20], the Collateral Parties shall promptly notify Agent of any opening or closing of a Deposit Account and will amend [Schedule 8.3] to reflect same.

Deposit Accounts. Lender’s Lien encumbers all amounts credited to any Deposit Account located in the United States of a Borrower, including sums in any blocked, lockbox, sweep or collection account. Subject to [Sections 8.2.4 and 8.2.5]5], each Borrower hereby authorizes and directs each bank or other depository to deliver to Lender, upon request while an Event of Default has occurred and is continuing, all balances in any Deposit Account maintained for such Borrower, without inquiry into the authority or right of Lender to make such request. Obligors shall, at no time, maintain balances in Deposit Accounts located outside of the United States in an aggregate amount exceeding $5,000,000.

Deposit Accounts. [Schedule 8.5] to the Disclosure Letter lists all Deposit Accounts maintained by Borrowers as of the Closing Date. Each Borrower shall take all actions necessary to establish Lender’s first priority Lien on each Deposit Account (other than any Excluded Accounts). Borrowers shall be the sole account holder(s) of each Deposit Account and shall not allow any Person (other than Lender) to have control over their Deposit Accounts or any Property deposited therein. Borrowers shall promptly notify Lender of any opening or closing of a Deposit Account.

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