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Bank Account Control Agreements are essential instruments in secured lending transactions in the United States, required whenever a lender seeks to perfect a security interest in deposit accounts as collateral. Used primarily in commercial lending and structured finance transactions, these agreements ensure compliance with UCC Article 9 requirements for establishing 'control' over deposit accounts. The agreement defines the circumstances under which the secured party can exercise control over the account, the bank's obligations regarding account operation, and the account holder's permitted activities. They are particularly crucial in larger financing transactions where deposit accounts form significant collateral.

1. Parties: Identification of all parties: Account Bank, Secured Party, and Account Holder

2. Background: Context of the agreement, including reference to underlying credit agreement and security arrangements

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

4. Account Control: Core provisions establishing control over the account

5. Rights and Duties of the Bank: Bank's obligations regarding the account and instructions

6. Security Interest: Confirmation of security interest and perfection

7. Instructions and Control Rights: Process for giving instructions and exercise of control rights

8. Termination: Conditions and process for terminating the agreement