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1. Parties: Identifies the secured party, debtor, and account bank as parties to the agreement
2. Background: Explains the context of the agreement, including reference to any related security or credit agreements
3. Definitions: Defines key terms used throughout the agreement including Account, Security Interest, Control, etc.
4. Control of Account: Establishes the control arrangements over the account and the mechanism for exercising control
5. Rights and Obligations of Account Bank: Details the account bank's duties, responsibilities, and standard of care
6. Security Interest: Describes the security interest being created and perfection requirements
7. Events of Default: Lists circumstances that trigger enforcement rights and control mechanisms
8. Representations and Warranties: Contains representations and warranties from all parties regarding their authority and capacity
9. Termination: Sets out conditions and process for terminating the agreement
10. Miscellaneous: Contains standard boilerplate provisions including governing law, jurisdiction, and notices
1. Blocked Account Provisions: Used when the account is to be fully blocked, preventing the debtor from accessing the account
2. Springing Control Provisions: Provisions specifying when and how control rights spring into effect upon specified trigger events
3. Investment Provisions: Provisions governing the investment of funds held in the account and permitted investments
4. Account Statements and Reporting: Requirements for regular reporting and account statements if beyond standard banking practices
1. Schedule 1 - Account Details: Contains specific details of the controlled account(s) including account numbers and account type
2. Schedule 2 - Authorized Persons: List of persons authorized to give instructions regarding the account
3. Schedule 3 - Form of Notice: Template for notices to be given under the agreement including Notice of Exclusive Control
4. Schedule 4 - Fee Schedule: Details of fees payable to the account bank for maintaining the account and complying with instructions
5. Schedule 5 - Operating Procedures: Detailed procedures for operation of the account and execution of instructions
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