Blocked Account Arrangements. Prior to the initial Investment hereunder, the SPV, Arrow and each other Originator shall enter into Blocked Account Agreements with all of the Blocked Account Banks, and deliver original counterparts thereof to the Administrative Agent. Upon the occurrence of a Termination Event or a Potential Termination Event (which Potential Termination Event is not capable of being cured), the Administrative Agent may at any time thereafter give notice to each Blocked Account Bank that the Administrative Agent is exercising its rights under the Blocked Account Agreements to do any or all of the following: (i) to have the exclusive ownership and control of the Blocked Account Accounts transferred to the Administrative Agent and to exercise exclusive dominion and control over the funds deposited therein, (ii) to have the proceeds that are sent to the respective Blocked Accounts be redirected pursuant to its instructions rather than deposited in the applicable Blocked Account, and (iii) to take any or all other actions permitted under the applicable Blocked Account Agreement. Arrow hereby agrees that if the Administrative Agent, at any time, takes any action set forth in the preceding sentence, the Administrative Agent shall have exclusive control of the proceeds (including Collections) of all Receivables and Arrow hereby further agrees to take any other action that the Administrative Agent may reasonably request to transfer such control. Any proceeds of Receivables received by Arrow, as Master Servicer or otherwise, thereafter shall be sent immediately to the Administrative Agent. The parties hereto hereby acknowledge that if at any time the Administrative Agent takes control of any Blocked Account, the Administrative Agent shall not have any rights to the funds therein in excess of the unpaid amounts due to SPV, the Administrative Agent and the Investors or any other Person hereunder and the Administrative Agent shall distribute or cause to be distributed such funds in accordance with Section 7.2(b) (including the proviso thereto) and Article II (in each case as if such funds were held by the Master Servicer thereunder); provided, however, that the Administrative Agent shall not be under any obligation to remit any such funds to the SPV, Arrow or any other Person unless and until the Administrative Agent has received from such Person evidence satisfactory to the Administrative Agent that the Originator or such Person is entitled to such funds hereunder and under applic...
Blocked Account Arrangements. To the extent required by a Secured Party from time to time, Tenant and the Secured Party shall enter into a written lock box or blocked account agreement or agreements, in the form and content requested by the Secured Party, in connection with the deposit, payment and disbursement only of all Rent hereunder from time to time and such other matters may be agreed between Landlord and Tenant each acting reasonably.
Blocked Account Arrangements. Prior to the initial purchase hereunder the Servicer shall enter into Blocked Account Agreements with all of the Blocked Account Banks, and deliver original counterparts thereof to the Agent. Upon the occurrence of a Termination Event or a Potential Termination Event, the Agent may at any time thereafter give notice to each Blocked Account Bank that the Agent is exercising its rights under the Blocked Account Agreements to do any or all of the following: (i) to have the exclusive ownership and control of the Blocked Account Accounts transferred to the Agent and to exercise exclusive dominion and control over the funds deposited therein, (ii) to have the proceeds that are sent to the respective Blocked Accounts be redirected pursuant to its instructions rather than deposited in the applicable Blocked Account, and (iii) to take any or all other actions permitted under the applicable Blocked Account Agreement. Each of the Servicer and the SPV hereby agrees that if the Agent, at any time, takes any action set forth in the preceding sentence, the Agent shall have exclusive control of the proceeds (including Collections) of all Pool Receivables and the Originator hereby further agrees to take any other action that the Agent may reasonably request
Blocked Account Arrangements. Each Borrower shall:
(a) in respect of each Blocked Account opened or designated on the date of this Deed:
(i) serve notice upon the account bank at which each Blocked Account is opened (in respect of the relevant Blocked Accounts) in substantially the form set out in Part I of Schedule 3 (Forms of Notice to Banks and Acknowledgement); and
(ii) procure the relevant bank returns the acknowledgement in substantially the form set out in Part II of Schedule 3 (Forms of Notice to Banks and Acknowledgement) or such other form acceptable to the UK Security Agent (acting reasonably); and
(b) in respect of each Blocked Account opened or designated after the date of this Deed, promptly following the opening or designation of such Blocked Account:
(i) serve notice upon the account bank at which each Blocked Account is opened (in respect of the relevant Blocked Accounts) in substantially the form set out in Part III of Schedule 3 (Forms of Notice to Banks and Acknowledgement); and
(ii) procure the relevant bank returns the acknowledgement in substantially the form set out in Part IV of Schedule 3 (Forms of Notice to Banks and Acknowledgement) or such other form acceptable to the UK Security Agent (acting reasonably).
Blocked Account Arrangements. The Lender shall have received from the Borrower executed Blocked Account Agreements for all accounts of the Borrower.
Blocked Account Arrangements. 62 Section 7.4 Enforcement Rights After Designation of New Servicer.................................63 Section 7.5
Blocked Account Arrangements. To the extent required by a Mortgagee from time to time, each of Landlord, Tenant, the Manager and the Mortgagee shall enter into a written lock box or blocked account agreement or agreements, in the form and content requested by the Mortgagee, in connection with the payment and disbursement of all Space Tenant rents as well as Rent hereunder from time to time and such other matters may be agreed between Landlord and Tenant each acting reasonably.
Blocked Account Arrangements. The Agent is hereby authorized to give notice at any time to any or all Blocked Account Banks that the Agent is exercising its rights under the Blocked Account Agreements and to take all actions permitted under the Blocked Account Agreements. The Seller agrees to take any action requested by the Agent to facilitate the foregoing. After the Agent takes any such action under the Blocked Account Agreements, the Seller shall immediately deliver to the Agent any Collections received by the Seller. If the Agent takes control of any Blocked Account, the Agent shall distribute any Collections it receives in accordance herewith and shall deliver to the Administrator, for distribution under Section 2.2, all other amounts it receives from such Blocked Account; provided, however, that the Agent agrees prior to the occurrence of a Termination Event and so long as the Seller is then in compliance with the provisions of Section 1.5(a) to release on a weekly basis to the Seller all such amounts in excess of the Collections required to be distributed to the Agent, the Purchaser Agents and the Purchasers and the Servicer pursuant to Section 2.2(a) on the immediately succeeding Settlement Date.
Blocked Account Arrangements. The Seller has delivered a copy of all Blocked Account Agreements to the Agent. The Seller has not granted any interest in any Blocked Account to any Person other than (i) the Agent and (ii) Persons whose interests therein have been terminated on or prior to the date hereof and, upon delivery to a Blocked Account Bank of the notice described in Section 3.4 hereof, the Agent will have the right to exercise exclusive ownership and control of the Blocked Account at such Blocked Account Bank in accordance with the provisions of the related Blocked Account Agreement.
Blocked Account Arrangements. The Administrator has delivered a copy of all Blocked Account Agreements to the Agent. The Administrator has not granted any interest in any Blocked Account to any Person other than (i) the Agent and (ii) Persons whose interests therein have been terminated on or prior to the date hereof and, upon delivery to a Blocked Account Bank of the notice described in Section 3.4 hereof, the Agent will have the right to exercise exclusive ownership and control of the Blocked Account at such Blocked Account Bank in accordance with the provisions of the related Blocked Account Agreement.
