Blocked Account; Cash Management Account Sample Clauses

Blocked Account; Cash Management Account. (a) Lender shall establish or shall direct Servicer to establish (prior to the sale of the Rio Las Vegas in accordance with Section 2.5 hereof, or at such earlier time as Lender or Servicer shall determine) a segregated Eligible Account (the “Blocked Account”) to be held in the name of Collateral Agent (for the benefit of Lender). The Blocked Account shall be under the sole dominion and control of Collateral Agent (which may be exercised through Servicer). Collateral Agent and Servicer shall have the sole right to make withdrawals from the Blocked Account in accordance with the terms and conditions of this Agreement and the other Loan Documents, except as otherwise expressly provided in this Agreement or the other Loan Documents.
Sample 1Sample 2
AutoNDA by SimpleDocs
Blocked Account; Cash Management Account. Borrower hereby represents and warrants to Lender that this Agreement, together with the other Loan Documents, create a valid and continuing security interest (as defined in the Uniform Commercial Code of the State of New York) in the Blocked Account and Cash Management Account in favor of Lender, which security interest is prior to all other Liens, other than Permitted Encumbrances, and is enforceable as such against creditors of and purchasers from Borrower. Other than in connection with the Loan Documents and except for Permitted Encumbrances, Borrower has not sold, pledged, transferred or otherwise conveyed the Blocked Account and Cash Management Account;
Sample 1

Related to Blocked Account; Cash Management Account

  • Cash Management Account Borrower hereby represents and warrants to Lender that:

  • Blocked Account The Blocked Account referred to in Section 2.10(c) hereof shall have been established to the satisfaction of FINOVA in its sole discretion;

  • Blocked Accounts Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

  • Deposit Accounts; Credit Card Arrangements (a) Annexed hereto as Schedule 5.21(a) is a list of all DDAs maintained by the Loan Parties as of the Closing Date, which Schedule includes, with respect to each DDA (i) the name and address of the depository; (ii) the account number(s) maintained with such depository; (iii) a contact person at such depository, and (iv) the identification of each Blocked Account Bank.

  • Cash Management System Each Borrower shall, and shall cause its Subsidiaries to, establish and maintain the Cash Management Systems described below:

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Deposit Account Control Agreements the Deposit Account control agreements to be executed by each institution maintaining a Deposit Account for an Obligor, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations.

  • Deposit Account (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and the Certificateholders, the Deposit Account as provided in Section 5.01 of the Sale and Servicing Agreement.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!