Common use of Cash Collateral Account Maintained by Agent Clause in Contracts

Cash Collateral Account Maintained by Agent. Upon an Event of Default or a Potential Event of Default, the Agent shall have the right at any time during the continuance thereof to cause to be opened and maintained at the office of the Agent in McLean, Virginia a non-interest bearing bank account (the "Cash Collateral Account") which will contain only Proceeds. Any "cash proceeds" (as such term is defined in Section 9-306(1) of the UCC) received by the Agent directly from Account Debtors obligated to make payments under Receivables or Other Intangibles pursuant to Section 2.3 hereof or from the Debtor pursuant to clause (b) of this Section 2.4, whether consisting of checks, notes, drafts, bills of exchange, money orders, commercial paper or other Proceeds received on account of any Collateral, shall be promptly deposited in the Cash Collateral Account, and until so deposited shall be held in trust for the Agent as property of the Agent and shall not be commingled with any funds of the Debtor not constituting Proceeds of Collateral. The name in which the Cash Collateral Account is carried shall clearly indicate that the funds deposited therein are the property of the Debtor, subject to the security interest of the Agent hereunder. Such Proceeds, when deposited, shall continue to be security for the Obligations and shall not constitute payment thereof until applied as hereinafter provided. The Agent shall have sole dominion and control over the funds deposited in the Cash Collateral Account, and such funds may be withdrawn therefrom only by the Agent.

Cash Collateral Account Maintained by Agent. Upon an Event of Default or a Potential Event of Default, the Agent shall have the right at any time during the continuance thereof to cause to be opened and maintained at the office of the Agent in McLean, Virginia a non-interest bearing bank account (the "Cash Collateral Account") which will contain only Proceeds. Any "cash proceeds" (as such term is defined in Section 9-306(1) of the UCC) received by the Agent directly from Account Debtors obligated to make payments under Receivables or Other Intangibles pursuant to Section 2.3 hereof or from the Debtor pursuant to clause (b) of this Section 2.4, whether consisting of checks, notes, drafts, bills of exchange, money orders, commercial paper or other Proceeds received on account of any Collateral, shall be promptly deposited in the Cash Collateral Account, and until so deposited shall be held in trust for the Agent as property of the Agent and shall not be commingled with any funds of the Debtor not constituting Proceeds of Collateral. The name in which the Cash Collateral Account is carried shall clearly indicate that the funds deposited therein are the property of the Debtor, subject to the security interest of the Agent hereunder. Such Proceeds, when deposited, shall continue to be security for the Obligations and shall not constitute payment thereof until applied as hereinafter provided. The Agent shall have sole dominion and control over the funds deposited in the Cash Collateral Account, and such funds may be withdrawn therefrom only by the Agent.and