Cash Management Requirements Sample Clauses

Cash Management Requirements. Each Loan Party shall (collectively, the “Cash Management Requirements”): (i) establish and maintain the following Deposit Accounts with PNC Bank, National Association for each Borrower: (A) a Borrower Expense Account and (B) Borrower Funding Account (collectively, the “Borrower Deposit Accounts”). (ii) cause all Borrower Deposit Accounts to be at all times subject to a Deposit Account Control Agreement; (iii) cause the Collection Account, the Insurance Proceeds Account, each Reserve Account and the Security Deposit Account to be at all times subject to an Account Control Agreement; (iv) by its own action, or by instructing and causing the Property Manager for each Property to take such action, (A) direct all Tenants to mail rent checks to the Vinebrook Physical Address for deposit into the Borrower Rent Account using the Yardi property management software program (or other substantially similar software program), (B) cause all rents received in the form of electronic or online payments to be deposited (and each electronic or online service provider shall be instructed to deposit) directly into the applicable Borrower Rent Account and (C) deposit all other Collections received by the Property Manager with respect to all Properties managed by the Property Manager directly to the applicable Borrower Rent Account; (v) cooperate with the Agent in causing all amounts deposited in a Borrower Rent Account to be swept to the Collection Account within two (2) Business Days of receipt in the Borrower Rent Account; (vi) instruct and cause the Property Manager for each Financed Property of each Borrower to deposit security deposits with respect to all Financed Properties directly to the Security Deposit Account, which holds no amounts other than security deposits for Tenants of the related Borrower; (vii) deposit or cause any escrow agent for the Conveyance of any Financed Property to deposit all Conveyance Proceeds directly to the Collection Account; (viii) deposit or cause to be deposited all other Collections and amounts required to be included in Available Funds to the Collection Account; and (ix) cause all amounts received for Operating Expenses pursuant to Section 2.8(b)(i) or Section 2.8(b)(xi) to be deposited in the applicable Borrower Expense Account maintained by each Borrower for payment of such Operating Expenses from such account.

Cash Management Requirements. All actions required under Article 7.1(b) to be taken prior to the First Funding shall have been so taken, provided that in the case of Alloy Merchandise, LLC and Skate Direct, LLC such actions shall be completed within 45 days after the First Funding.

Cash Management Requirements. All actions required under Section 7.1(b) to be taken prior to the First Funding shall have been so taken.