Cash Management Provisions Sample Clauses

Cash Management Provisions. (a) All proceeds of Collateral shall be deposited by the Loan Parties into one or more blocked Collateral Deposit Accounts established at the Administrative Agent for the deposit of such proceeds. (b) To the extent any Loan Party is permitted to maintain a deposit account with a financial institution other than the Administrative Agent on an interim basis in accordance with Section 5.13, then each applicable Loan Party, the Administrative Agent and the financial institution at which the account of such Loan Party is maintained shall enter into a Deposit Account Control Agreement or equivalent arrangement within thirty (30) days after the Effective Date, in each case in form and substance reasonably satisfactory to the Administrative Agent that is sufficient to give the Administrative Agent “control” over each such account. (c) The Loan Parties hereby grant to the Administrative Agent a Lien upon all items received at a Lock Box and all funds deposited in a Collateral Deposit Account and any other deposit account of any Loan Party such that they shall be subject to the Lien of the Administrative Agent for its own benefit and the ratable benefit of the Secured Parties at all times. (d) No later than sixty (60) days after the Effective Date (unless such date is extended in the sole discretion of the Administrative Agent), the Loan Parties shall direct all of their Account Debtors to forward payments directly to a Lock Box maintained by the Administrative Agent (each, a “Lock Box”) for deposit to a Collateral Deposit Account and shall use their best efforts to ensure that their customers deliver all remittances upon Accounts (whether paid by check, by wire transfer of funds or by any other means available to such customer) to a Lock Box for deposit to a Collateral Deposit Account. (e) To the extent (i) any Account Debtor cannot deliver remittances upon Accounts (whether paid by check, by wire transfer of funds or otherwise) to a Collateral Deposit Account, or (ii) any Loan Party directly receives any remittances upon Accounts of any Loan Party, such Loan Party shall, at such Loan Party’s sole cost and expense, but on the Administrative Agent’s behalf and for the Administrative Agent’s account, collect as the Administrative Agent’s property and in trust for the Administrative Agent all amounts received on such Accounts, and shall not commingle such collections with any of such Loan Party’s other funds or use the same and shall as soon as possible and in any eve...
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Cash Management Provisions. As noted in Exhibit A, the Corporate Services include cash management services. Nabisco shall place all of NGH's collections in, make all of its disbursements from, and concentrate all uninvested funds in accounts (the "NGH Accounts") in the name of NGH. The NGH Accounts, the funds therein and all earnings thereon shall remain under the sole ownership and control of NGH, except to the extent that NGH, at its option, assigns or pledges such accounts to any independent third party. Nabisco shall have no rights in or to the NGH Accounts, the funds therein, or the earnings thereon and hereby waives any rights of setoff it may now or hereafter have with respect thereto. Nabisco shall comply with all of NGH's instructions concerning the use of funds in the NGH Accounts.
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Cash Management Provisions. (i) Provided no Event of Default has occurred or is continuing, all Concentration Account Funds then on deposit in the Concentration Account shall be allocated and disbursed in the following amounts and in the following order of priority by the Applicable Agent: (A) First, to Borrower’s Operating Account, in the amount sufficient to pay all amounts then due to FCE pursuant to the O&M Agreement (excluding the “SG&A Costs” under and as defined in the O&M Agreement, which are payable under Section 6.20(b)(i)(B) and the “Module Replacement Fee” under and as defined in the O&M Agreement, which shall be paid from the O&M Reserve in accordance with Section 6.22), provided, however, that Applicable Agent shall not disburse, in any given calendar year, more than one hundred and ten percent (110%) of the amount identified as the “Bridgeport Preventative O&M” for such calendar year on Schedule 6.20, unless Applicable Agent and Borrower, each in their sole and absolute discretion, agree to a different amount; (B) Next, to Borrower’s Operating Account, in the amount sufficient to pay all property taxes of Borrower, water charges and “SG&A Costs” (as defined in the O&M Agreement) then due and payable, provided, however, that Applicable Agent shall not disburse, in any given calendar year, more than the amount identified as “Bridgeport Property Taxes” (for such property taxes), “Bridgeport Water Expense” (for such water charges) and “Bridgeport Admin & Insurance” (for such SG&A Costs), respectively, for such calendar year on Schedule 6.20; (C) Next, to Borrower’s Operating Account, in the amount sufficient to pay all charges which are then due and payable for fuel for the Facility, provided, that Borrower has provided Applicable Agent with a written invoice in support thereof; (D) Next, until First Lien Debt has been Paid In Full, to the First Lien Agent, in the amount sufficient to pay all payments of principal, interest, fees and other charges then due in connection with the Obligations (as defined in the First Lien Credit Agreement) due under the First Lien Loan Documents; (E) Next, until First Lien Debt has been Paid In Full, on a pro rata basis with respect to all remaining Concentration Account Funds (x) to First Lien Agent, in the amount sufficient to pay all required deposits into the Liberty O&M Reserve Account in accordance with the terms and conditions Section 6.22(a), and (y) to Fifth Third Bank, in the amount sufficient to pay all required deposits into the ...
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Cash Management Provisions. 58 3.3.7 Other Items .................................................. 58 3.4 No Orders, Judgments or Decrees ........................................... 58 3.5
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Cash Management Provisions. Borrower shall have satisfied the conditions set forth in SECTION 2.14.6.
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Cash Management Provisions 
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Related to Cash Management Provisions

  • Cash Management (a) Each Loan Party shall (i) instruct all Account Debtors of such Loan Party to remit all payments in respect of any Account on which such Account Debtor is obligated to a “P.O. Box” or “Lockbox Address” associated with a deposit account subject to a Blocked Account Agreement (each, a “Payment Account”), which remittances shall be collected by the depository institution at which such “P.O. Box” or “Lockbox Address” is maintained and deposited in such Payment Account, (ii) except with respect to Excluded Accounts, Transition Accounts and the Operating Account, cause each deposit account held by such Loan Party (including, without limitation, each Payment Account) to become subject to a Blocked Account Agreement pursuant to which (without limiting the terms thereof) all amounts on deposit and available at the close of each Business Day in such deposit account shall be swept to an account designated by the Collateral Agent (the “Collection Account”), with such sweep instructions to be irrevocable unless otherwise agreed to by the Collateral Agent and (iii) cause the Operating Account to become subject to a Blocked Account Agreement pursuant to which (without limiting the terms thereof) the Collateral Agent may, upon the occurrence and during the continuance of an Event of Default, exercise full dominion over such account and sweep all funds on deposit therein to the Collection Account. Without limiting the foregoing, all amounts received by a Borrower or any of its Subsidiaries in respect of any deposit account (or by the depository institution at which such account is held), in addition to all other cash received from any other source, shall upon receipt be deposited into such deposit account. Each Loan Party agrees that it will not cause proceeds of any deposit accounts to be otherwise redirected. (b) All collected amounts received in the Collection Account shall be distributed and applied on a daily basis in accordance with Section 2.10(b). (c) If any cash or cash equivalents owned by any Loan Party (other than (i) de minimis cash or cash equivalents from time to time inadvertently misapplied by any Loan Party, (ii) any funds which are held by any Borrower and any of their respective Subsidiaries on behalf of any customer in the ordinary course of business and (iii) any funds which are held by any Borrower and any of their respective Subsidiaries in an Excluded Account or, subject to the terms of this Agreement, a Transition Account, in each case, in the ordinary course of business) are deposited to any account, or held or invested in any manner, otherwise than in a deposit account subject to a Blocked Account Agreement in compliance with Section 5.12(a), then the Collateral Agent shall be entitled to require the applicable Loan Party to close such account and have all funds therein transferred to an account subject to a Blocked Account Agreement in compliance with Section 5.12(a), and to cause all future deposits to be made to such account. (d) The Collection Account shall at all times be under the sole dominion and control of the Collateral Agent. Each Loan Party hereby acknowledges and agrees that (x) such Loan Party has no right of withdrawal from the Collection Account, (y) the funds on deposit in the Collection Account shall at all times continue to be collateral security for all of the obligations of the Loan Parties hereunder and under the other Loan Documents, and (z) the funds on deposit in the Collection Account shall be applied as provided in this Agreement. In the event that, notwithstanding the provisions of this Section 5.12, any Loan Party receives or otherwise has dominion and control of any proceeds or collections required to be transferred to the Collection Account, such proceeds and collections shall be held in trust by such Loan Party for the Collateral Agent, shall not be commingled with any of such Loan Party’s other funds or deposited in any account of such Loan Party and shall promptly be deposited into the Collection Account or dealt with in such other fashion as such Loan Party may be instructed by the Collateral Agent.

  • Cash Management Account (a) During the term of the Loan, Borrower shall cause Mortgage Borrower and Senior Mezzanine Borrower to comply with Section 2.6.3 of the Mortgage Loan Agreement and Senior Mezzanine Loan Agreement (as applicable) which may require the establishment of the Cash Management Account to be held by and in trust for the benefit of Mortgage Lender. All costs and expenses for establishing and maintaining the Cash Management Account shall be paid by Mortgage Borrower. (b) Borrower shall not cause or permit Mortgage Borrower or Operating Company to further pledge, assign or grant any security interest in the Cash Management Account or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 Financing Statements, except those naming Mortgage Lender as the secured party, to be filed with respect thereto. (c) Borrower hereby agrees that in the event that (i) the Mortgage Loan Documents require Mortgage Borrower and/or Operating Company to maintain the Cash Management Account, but (due to repayment of the Mortgage Loan, waiver of the requirement by Mortgage Lender, or otherwise) the Cash Management Account is not being maintained and (ii) the Cash Management Account is not being maintained under Section 2.6.3 of the Senior Mezzanine Loan Agreement, Borrower shall establish a cash management account and system with Lender substantially the same as that required under the Mortgage Loan Documents. If Borrower is required to deposit amounts with Lender pursuant to Article VII hereof, Borrower shall establish a cash management account and system with Lender substantially the same as that required under the Mortgage Loan Documents (and shall otherwise comply with the provisions of Section 2.6.2 of the Mortgage Loan Documents, and grant to Lender security interests in such accounts for the benefit of Lender, as if such provisions were incorporated herein for the benefit of Lender).

  • Cash Management Arrangements Borrower shall cause all Rents to be transmitted directly by tenants of the Property into an Eligible Account (the “Clearing Account”) maintained by Borrower at a local bank selected by Borrower, which shall at all times be an Eligible Institution (the “Clearing Bank”) as more fully described in the Clearing Account Agreement. A form of tenant direction letter for such purpose is attached hereto as Schedule 1. Without in any way limiting the foregoing, all Rents received by Borrower or Manager shall be deposited into the Clearing Account within one (1) Business Day of receipt. Funds deposited into the Clearing Account shall be swept by the Clearing Bank on a daily basis into Borrower’s operating account at the Clearing Bank, unless a Cash Management Period is continuing, in which event such funds shall be swept on a daily basis into an Eligible Account at the Deposit Bank controlled by Lender (the “Deposit Account”) and applied and disbursed in accordance with this Agreement. Funds in the Deposit Account shall be invested at Lender’s discretion only in Permitted Investments. Lender will also establish subaccounts of the Deposit Account which shall at all times be Eligible Accounts (and may be ledger or book entry accounts and not actual accounts) (such subaccounts are referred to herein as “Subaccounts”). The Deposit Account and any Subaccount will be under the sole control and dominion of Lender, and Borrower shall have no right of withdrawal therefrom. Borrower shall pay for all expenses of opening and maintaining all of the above accounts.

  • Cash Management System On or prior to the Closing Date and until the Termination Date, Borrower will establish and maintain the cash management system described in Schedule D. All payments in respect of the Collateral shall be made to or deposited in the blocked or lockbox accounts described in Schedule D in accordance with the terms thereof.

  • Cash Management Systems On or prior to the Closing Date, Borrowers will establish and will maintain until the Termination Date, the cash management systems described in Annex C (the “Cash Management Systems”).

  • Cash Management Services Funds received by Transfer Agent in the course of performing its services hereunder will be held in demand deposit bank accounts or money market fund accounts in the name of Transfer Agent (or its nominee) as agent for the Funds.

  • Secured Cash Management Agreements and Secured Hedge Agreements Except as otherwise expressly set forth herein, no Cash Management Bank or Hedge Bank that obtains the benefit of the provisions of Section 8.03, the Guaranty or any Collateral by virtue of the provisions hereof or any Collateral Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) (or to notice of or to consent to any amendment, waiver or modification of the provisions hereof or of the Guaranty or any Collateral Document) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article IX to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements except to the extent expressly provided herein and unless the Administrative Agent has received a Secured Party Designation Notice of such Secured Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Cash Management Bank or Hedge Bank, as the case may be. The Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Secured Obligations arising under Secured Cash Management Agreements and Secured Hedge Agreements in the case of a Facility Termination Date.

  • Administration of Deposit Accounts Schedule 8.5 sets forth all Deposit Accounts maintained by Obligors, including all Dominion Accounts. Each Obligor shall take all actions necessary to establish Agent’s control over each such Deposit Account (other than Excluded Deposit Accounts). Each Obligor shall be the sole account holder of each Deposit Account and shall not allow any Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Obligor shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

  • Cash Management Services Sublimit Borrower may use the Revolving Line for Bank’s cash management services, which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank’s various cash management services agreements (collectively, the “Cash Management Services”), in an aggregate amount not to exceed the lesser of (A) Two Million Dollars ($2,000,000), minus (i) the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus (ii) the FX Reduction Amount, or (B) the Revolving Line, minus (i) the sum of all outstanding principal amounts of any Advances, minus the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus (iii) the FX Reduction Amount. Any amounts Bank pays on behalf of Borrower for any Cash Management Services will be treated as Advances under the Revolving Line and will accrue interest at the interest rate applicable to Advances.

  • Sweep or Automated Cash Management Upon receipt of Instructions, the Custodian shall invest any otherwise uninvested cash of any Fund held by the Custodian in a money market mutual fund, a cash deposit product, or other cash investment vehicle made available by the Custodian from time to time, in accordance with the directions contained in such Instructions. A fee may be charged or a spread may be received by the Custodian for investing the Fund’s otherwise uninvested cash in the available cash investment vehicles or products. The Custodian shall have no responsibility to determine whether any purchases of money market mutual fund shares or any other cash investment vehicle or cash deposit product by or on behalf of the Fund under the terms of this section will cause any Fund to exceed the limitations contained in the 1940 Act on ownership of shares of another registered investment company or any other asset or portfolio restrictions or limitations contained in applicable laws or regulations or the Fund’s prospectus. The Fund agrees to indemnify and hold harmless the Custodian from all losses, damages and expenses (including attorney’s fees) suffered or incurred by the Custodian as a result of a violation by such Fund of the limitations on ownership of shares of another registered investment company or any other cash investment vehicle or cash deposit product.

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