Common use of Central Account Clause in Contracts

Central Account. Pursuant to the terms of the Cash Management Agreement, the Borrowers have established an Eligible Account in the name of Lender, as secured party hereunder, to serve as the “Central Account” (said account, and any account replacing the same in accordance with this Loan Agreement and the Cash Management Agreement, the “Central Account”; and the depositary institution in which the Central Account is maintained, the “Central Account Bank”). The Central Account is under the sole dominion and control of Lender (which dominion and control may be exercised by Servicer); and except as expressly provided hereunder or in the Cash Management Agreement, the Borrowers shall not have the right to control or direct the investment or payment of funds therein during the continuance of an Event of Default. Lender may elect to change any financial institution in which the Central Account shall be maintained if such institution is no longer an Eligible Bank, upon not less than five (5) Business Days’ written notice to the Borrowers. The Central Account shall be deemed to contain such sub-accounts as Lender may designate (“Sub-Accounts”), which may be maintained as separate ledger accounts and need not be separate Eligible Accounts. The Sub-Accounts shall include the “Reserve Sub Accounts” as more particularly described in the Cash Management Agreement. The “Reserve Sub-Accounts” shall include the Sub-Accounts of the Central Account established for the purpose of holding funds in the Reserves including: (a) the “Imposition and Insurance Reserve Sub-Account”, (b) the “Cash Trap Reserve Sub-Account”, (c) the “Advance Rents Reserve Sub-Account” and (d) the “Loss Proceeds Reserve Sub-Account”.

Central Account. Pursuant On or before the Closing Date, pursuant to the terms of the Cash Management Agreement, the Borrowers have established shall establish an Eligible Account in the name of Lender, as secured party hereunder, to serve as the “Central Account” (said account, and any account replacing the same in accordance with this Loan Agreement and the Cash Management Agreement, the “Central Account”; and the depositary institution in which the Central Account is maintained, the “Central Account Bank”). The Central Account is shall be under the sole dominion and control of Lender (which dominion and control may be exercised by Servicer); and except as expressly provided hereunder or in the Cash Management Agreement, the Borrowers shall not have the right to control or direct the investment or payment of funds therein during the continuance of an Event of Default. Lender may elect to change any financial institution in which the Central Account shall be maintained if such institution is no longer an Eligible Bank, upon not less than five (5) Business Days’ written notice to the Borrowers. The Central Account shall be deemed to contain such sub-accounts as Lender may designate (“Sub-Accounts”), which may be maintained as separate ledger accounts and need not be separate Eligible Accounts. The Sub-Accounts shall include the “Reserve Sub Accounts” as more particularly described in the Cash Management Agreement. The “Reserve Sub-Accounts” shall include the Sub-Accounts of the Central Account established for the purpose of holding funds in the Reserves including: (a) the “Imposition and Insurance Reserve Sub-Account”, (b) the “Cash Trap Reserve Sub-Account”, (c) the “Advance Rents Reserve Sub-Account” and (d) the “Loss Proceeds Reserve Sub-Account”.

Central Account. Pursuant On or before the Closing Date, pursuant to the terms of the Cash Management Agreement, the Borrowers have established shall establish an Eligible Account in the name of Lender, as secured party hereunder, to serve as the “Central Account” (said account, and any account replacing the same in accordance with this Loan Agreement and the Cash Management Agreement, the “Central Account”; and the depositary institution in which the Central Account is maintained, the “Central Account Bank”). The Central Account is shall be under the sole dominion and control of Lender (which dominion and control may be exercised by Servicer); and except as expressly provided hereunder or in the Cash Management Agreement, the Borrowers shall not have the right to control or direct the investment or payment of funds therein during the continuance of an Event of Default. Lender may elect to change any financial institution in which the Central Account shall be maintained if such institution is no longer an Eligible Bank, upon not less than five (5) Business Days’ written notice to the Borrowers. The Central Account shall be deemed to contain such sub-accounts as Lender may designate (“Sub-Accounts”), which may be maintained as separate ledger accounts and need not be separate Eligible Accounts. The Sub-Accounts shall include the “Reserve Sub Accounts” as more particularly described in the Cash Management Agreement. The “Reserve Sub-Accounts” shall include the Sub-Accounts of the Central Account established for the purpose of holding funds in the Reserves including: (a) the “Imposition and Insurance Reserve Sub-Account”, (b) the “Cash Trap Reserve Sub-Account”, (c) the “Advance Rents Reserve Sub-Account” and (d) the “Loss Proceeds Reserve Sub-Account”.

Central Account. Pursuant On or before the Original Closing Date, pursuant to the terms of the Cash Management Agreement, the Borrowers shall have established an Eligible Account in the name of the Lender, as secured party hereunder, to serve as the “Central Account” (said account, and any account replacing the same in accordance with this Loan Agreement and the Cash Management Agreement, the “Central Account”; and the depositary institution in which the Central Account is maintained, the “Central Account Bank”). The Central Account is shall be under the sole dominion and control of the Lender (which dominion and control may be exercised by the Servicer); and except as expressly provided hereunder or in the Cash Management Agreement, the Borrowers shall not have the right to control or direct the investment or payment of funds therein during the continuance of an Event of Default. The Lender may elect to change any financial institution in which the Central Account shall be maintained if such institution is no longer an Eligible Bank, upon not less than five (5) Business Days’ written notice to the Borrowers. The Central Account shall be deemed to contain such sub-accounts sub‑accounts as the Lender may designate (“Sub-AccountsSub‑Accounts”), which may be maintained as separate ledger accounts and need not be separate Eligible Accounts. The Sub-Accounts Sub‑Accounts shall include the “Reserve Sub Accounts” as more particularly described in the Cash Management Agreement. The “Reserve Sub-AccountsSub‑Accounts” shall include the Sub-Accounts Sub‑Accounts of the Central Account established for the purpose of holding funds in the Reserves including: (a) the “Imposition and Insurance Reserve Sub-AccountSub‑Account”, (b) the “Cash Trap Reserve Sub-AccountSub‑Account”, (c) the “Advance Rents Reserve Sub-AccountSub‑Account” and (d) the “Loss Proceeds Reserve Sub-AccountSub‑Account”.