Depository Account Control Agreement

Depository Account Control Agreement. Shall mean any three-party agreement, in form and substance reasonably satisfactory to the Secured Party, among Debtor, the Secured Party and the bank maintaining a Depository Account (a) pursuant to which such bank agrees that, except in connection with chargebacks and payment of such bank's usual and customary fees chargeable in connection with its administration of the applicable Depository Account, such bank has no Lien upon, or right of set off against, the Depository Account or any cash,... checks, wires and other items from time to time on deposit therein and (b) which provides the Secured Party with control of the Depository Account. View More