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The Deposit Control Agreement is a crucial document in secured financing transactions under Belgian law, used when a lender or other secured party requires control over deposit accounts as collateral. This type of agreement is commonly implemented in project finance, acquisition finance, and general corporate lending scenarios where deposit accounts form part of the security package. The agreement complies with Belgian Financial Collateral Law of 2004 and relevant EU regulations, providing the legal framework for the secured party to exercise control over the accounts while protecting the deposit bank's position. It details operational procedures for account management, instruction mechanisms, and the parties' respective rights and obligations. The document is essential for perfecting security interests over deposit accounts under Belgian law and typically forms part of a broader security package in financing transactions.

1. Parties: Identifies all parties to the agreement: the Account Holder, the Deposit Bank, and the Secured Party/Beneficiary

2. Background: Sets out the context of the agreement, including reference to any related security agreements and the purpose of the deposit control arrangement

3. Definitions: Defines key terms used throughout the agreement, including Account, Control, Instructions, Security Interest, etc.

4. Account Control Arrangements: Details the mechanism of control over the deposit account(s) and the rights of the secured party to give instructions

5. Bank's Rights and Obligations: Specifies the deposit bank's duties, including following instructions, maintaining the account, and handling competing claims

6. Security Interest: Confirms the security interest granted over the account and its perfection through control

7. Instructions and Notifications: Procedures for giving and following instructions regarding the account, including format and timing requirements

8. Representations and Warranties: Standard representations by each party regarding authority, binding effect, and no conflicts

9. Fees and Expenses: Specifies any fees payable to the deposit bank and allocation of expenses

10. Term and Termination: Duration of the agreement and circumstances under which it can be terminated

11. Governing Law and Jurisdiction: Specifies Belgian law as governing law and determines jurisdiction for disputes

12. Miscellaneous: Standard boilerplate provisions including notices, amendments, and severability