Deposit Account Control Agreement (DACA)

# Deposit Account Control Agreement (DACA) This Deposit Account Control Agreement (this "Agreement") is entered into as of ___________ by and among: **Debtor:** ___________, a ___________ ("Debtor"); **Secured Party:** ___________, a ___________ ("Secured Party"); and **Bank:** ___________, a ___________ (the "Bank"), which is the depositary institution that maintains the Deposit Account (as defined below) for the Debtor. --- ## Recitals A. Debtor maintains one or more deposit accounts at the Bank as described in Section 1 (the "Deposit Account(s)"). B. Secured Party has extended or agreed to extend credit or other financial accommodations to Debtor and holds a security interest in the Deposit Accounts pursuant to a security agreement between Secured Party and Debtor dated ___________ (the "Security Agreement"). C. In order to perfect Secured Party's security interest in the Deposit Accounts under UCC § 9-104 and § 9-314, it is necessary for Secured Party to obtain "control" over the Deposit Accounts. "Control" over a deposit account is achieved when the secured party is the bank at which the account is maintained, or when the depositary bank agrees to comply with instructions from the secured party directing the disposition of funds without further consent from the debtor. D. The parties desire to enter into this Agreement to provide Secured Party with such control. NOW, THEREFORE, the parties agree as follows. --- ## 1. Deposit Account(s) ### 1.1 Account Description The following deposit account(s) maintained by Debtor at the Bank are subject to this Agreement (each, a "Deposit Account"): **Account 1 — Account Name:** ___________ **Account 1 — Account Number:** ___________ **Account 1 — Account Type:** ___________ **Account 2 — Account Name (if applicable):** ___________