Borrower Accounts. (a) On or prior to the Effective Date, the Collateral Manager shall establish the Collection Account, the Funding Account and the Security Deposit Collection Account, each in the name of the Facility Agent for the benefit of the Secured Parties. The Collection Account, the Funding Account and the Security Deposit Collection Account shall each be an Eligible Account which is a segregated trust account initially established with Deutsche Bank Trust Company Americas. If at any time the Collection Account, the Funding Account or the Security Deposit Collection Account ceases to be an Eligible Account, the Facility Agent (with notice to the Collateral Manager) shall transfer such account to another institution such that such account shall meet the requirements of an Eligible Account. The Collection Account, the Funding Account and the Security Deposit Collection Account are listed on Schedule 8.1.
Borrower Accounts. Each Loan made to a Borrower shall be made to its applicable payment account specified on Exhibit L or such other account which it may from time to time specify by written notice to the Administrative Agent and the applicable Lenders.
Borrower Accounts. All payments for goods or property sold or leased or for services rendered arising from the operation of the Land and the Improvements, whether or not yet earned by performance, and not evidenced by an instrument or chattel paper;
Borrower Accounts. Each Loan made to a Borrower shall be made to its applicable payment account specified on Exhibit P or the Borrower Addendum, if any, executed and delivered with respect to such Borrower pursuant to Section 2.10, as the case may be, or such other account which it may from time to time specify by written notice to the Administrative Agent and the Lenders.
Borrower Accounts. (a) On or prior to the Effective Date, the Servicer shall establish the Collection Account, the Reserve Account and the Cap Funding Reserve Account each in the name of the Administrative/Collateral Agent for the benefit of the Secured Parties. The Collection Account, the Reserve Account and the Cap Funding Reserve Account shall each be an Eligible Account which is a segregated trust account initially established with the Administrative/Collateral Agent. If at any time the Collection Account, the Cap Funding Reserve Account or the Reserve Account ceases to be an Eligible Account, the Administrative/Collateral Agent shall transfer such account to another institution such that such account shall meet the requirements of an Eligible Account.
Borrower Accounts. The Borrower and Lilis shall collectively and continuously maintain no fewer than five separate banking accounts with the Lender, each to be funded and maintained in accordance with this Section 2.15. The Borrower’s existing account number 1000496065 maintained by the Borrower with the Lender is referred to herein as the “Brushy Operating Account.” Not later than June 23, 2016, Lilis shall complete the Lender’s documentation as needed to finalize the opening of account number 1000739944 for the purpose of facilitating payment of the Borrower’s accounts payable (the “Brushy A/P Account”), the opening of account number 1000739969 for the purpose of facilitating payment of drilling and workover expenses associated with the Borrower’s and Lilis’s Oil and Gas Properties and for their other capital expenditure needs (the “CapEx Account”), the opening of account number 1000739951 for the purpose of facilitating payment of Lilis’s accounts payable (the “Lilis A/P Account,” and collectively with the Brushy A/P Account, the “A/P Accounts”) and account number 1000739977 for the purpose of facilitating payment of Lilis’s general operating needs (the “Lilis Operating Account,” and collectively with the Brushy Operating Account, the “Operating Accounts”). The Borrower and Lilis shall deposit the amounts into the Brushy Operating Account, the A/P Accounts and the CapEx Account by the deadline specified therefor in Section 2.6.7 of this Agreement. In addition, from and after the date of the Fourth Amendment to Forbearance Agreement, Lilis shall cause all revenues attributable to proceeds of production from its Oil and Gas Properties to be deposited into the Lilis Operating Account. If the requirements in Section 2.6.4 of this Agreement are fully and timely satisfied and any amounts remain in either A/P Account as of the date the Lender receives the report required by Section 2.6.4, then following a written request from the Borrower or Lilis, as applicable, the remaining balance in the applicable A/P Account(s) may be transferred to either Operating Account and used for general company purposes (subject to the limitations in Section 2.6.2 of this Agreement). Except as contemplated by the immediately preceding sentence, the amounts in each of the A/P Accounts and the CapEx Account shall be used solely for the purpose designated herein for such account. In no event shall any funds be deposited into either A/P Account, either Operating Account or the CapEx Account that are ow...
Borrower Accounts. (a) On or prior to the Effective Date, the Collateral Manager shall establish the Collection Account, the Warrant Reserve Account and the Security Deposit Collection Account, each in the name of the Borrower (subject to a control agreement in favor of the Facility Agent for the benefit of itself and the Secured Parties). The Collection Account, the Warrant Reserve Account and the Security Deposit Collection Account shall each be an Eligible Account which is a segregated non-interest bearing trust account initially established with the Collection Account Bank pursuant and subject to the Account Agreement. If at any time the Collection Account, the Warrant Reserve Account or the Security Deposit Collection Account ceases to be an Eligible Account, the Facility Agent (with notice to the Collateral Manager) shall transfer such account to another institution such that such account shall meet the requirements of an Eligible Account. The Collection Account, the Warrant Reserve Account and the Security Deposit Collection Account are listed on Schedule 8.1.
Borrower Accounts. The Borrower shall on or prior to the Utilisation Date open and maintain the following bank accounts with the designated branch of the Account Bank with the Account Bank Minimum Rating Requirements in the name of the Borrower:
Borrower Accounts. Borrower shall have no operating accounts or bank accounts except for those explicitly permitted and contemplated by this Agreement and the Cash Management Agreement.
Borrower Accounts i. On or prior to the Closing Date, the Servicer shall establish the Collection Account and the Collateral Account each in the name of the Collateral Agent for the benefit of the Secured Parties. The Collection Account and the Collateral Account shall each be an Eligible Account which is a segregated trust account initially established with the Collateral Agent. If at any time the Collection Account or the Collateral Account ceases to be an Eligible Account, the Agent may direct the Collateral Agent to transfer such account to another institution such that such account shall meet the requirements of an Eligible Account.
