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The Deposit Control Agreement is a crucial document in secured financing arrangements under Maltese law, typically used in conjunction with facility agreements, security agreements, or other financing documents. It establishes the mechanism through which a secured party can obtain and maintain control over deposit accounts as collateral security. The agreement is particularly relevant in project finance, corporate lending, and structured finance transactions where deposit accounts serve as security. It must comply with Malta's robust financial services regulatory framework, including requirements under the Banking Act and Financial Institutions Act, while also adhering to EU banking regulations. The document details operational procedures, control mechanisms, and rights of all parties, providing clarity on account management and enforcement rights.

1. Parties: Identifies the key parties: Account Bank, Account Holder/Depositor, and Secured Party/Beneficiary

2. Background: Explains the context of the agreement, including reference to any related security or facility agreements

3. Definitions and Interpretation: Defines key terms and establishes interpretation principles, including specific Maltese law terminology

4. Appointment and Authority: Establishes the appointment of the Account Bank and its authority regarding the deposit account

5. Control of the Account: Details the control mechanisms, including operational control, signing rights, and instructions

6. Rights and Obligations of the Account Bank: Specifies the Account Bank's duties, responsibilities, and rights

7. Representations and Warranties: Contains representations and warranties from all parties

8. Deposit Account Operations: Details day-to-day operation of the account, including deposits, withdrawals, and statements

9. Security Interest and Control Rights: Establishes the security interest and control rights of the Secured Party

10. Events of Default: Defines events triggering enforcement rights or changes in control

11. Fees and Expenses: Sets out the fee structure and responsibility for expenses

12. Liability and Indemnification: Addresses liability limitations and indemnification obligations

13. Amendments and Waivers: Procedures for modifying the agreement and effects of waivers

14. Termination: Conditions and procedures for terminating the agreement

15. Notices: Communication procedures between parties

16. Governing Law and Jurisdiction: Confirms Maltese law as governing law and jurisdiction for disputes