Common use of Central Account Clause in Contracts

Central Account. On or before the Closing Date, pursuant to the --------------- terms of the Cash Management Agreement, Borrower shall establish and maintain, at the Central Account Bank, 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") The Central Account 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 and/or in the Cash Management Agreement, Borrower shall have no rights to control or direct the investment or payment of funds therein. Lender may elect to change the financial institution in which the Central Account shall be maintained upon at least five (5) Business Days' notice to Borrower. 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 following as more particularly described in the Cash Management Agreement:

Appears in 1 contract

Samples: Loan and Security Agreement (Ventas Inc)

AutoNDA by SimpleDocs

Central Account. On or before the Closing Date, pursuant to the --------------- terms of the Cash Management Agreement, Borrower shall establish and maintain, at the Central Account Bank, an Eligible Account shall be established by the Issuers with the Indenture Trustee, in the name of the Lender, as secured party hereunderIndenture Trustee’s name, to serve as the "Central Account" (said account, and --------------- any account replacing the same in accordance with this Loan Agreement Indenture 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 and the Sub-Accounts shall be pledged to and under the sole dominion and control of Lender the Indenture Trustee (which dominion and control may be exercised by ServicerServicer or other designee of the Indenture Trustee); and except as expressly provided hereunder and/or or in the Cash Management Agreement, Borrower the Issuers shall not have no rights the right to control or direct the investment or payment of funds therein. Lender The Issuers may elect to change the any financial institution in which the Central Account shall be maintained upon at least five (5) Business Days' notice if such institution is no longer an Eligible Bank, subject to Borrowerthe immediately preceding sentence. The Central Account shall be deemed to contain such the following 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 following as and which are more particularly described in the Cash Management Agreement:

Appears in 1 contract

Samples: Crown Castle International Corp

Central Account. On or before the Closing Date, pursuant to the --------------- terms of the Cash Management Agreement, Borrower shall establish and maintain, at the Central Account Bank, maintain an Eligible Account in the -50- 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 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 and/or in the Cash Management Agreement, Borrower shall have no rights to control or direct the investment or payment of funds therein. Lender may elect to change the any financial institution in which the Central Account shall be maintained upon at least five (5) Business Days' notice to Borrowermaintained. 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 following as more particularly described in the Cash Management Agreement:

Appears in 1 contract

Samples: Loan and Security Agreement (HRPT Properties Trust)

AutoNDA by SimpleDocs

Central Account. On or before the Closing Date, pursuant to the --------------- terms of the Cash Management Agreement, Borrower the Borrowers shall establish and maintain, at the Central Account Bank, 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") The Central Account 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 and/or in the Cash Management Agreement, Borrower the Borrowers shall have no rights to control or direct the investment or payment of funds therein. Lender may elect to change the any financial institution in which any Deposit Account and/or the Central Account shall be maintained upon at least five (5) Business Days' notice to Borrowermaintained. 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 following as more particularly described in the Cash Management Agreement:separate

Appears in 1 contract

Samples: Loan and Security Agreement (HRPT Properties Trust)

Time is Money Join Law Insider Premium to draft better contracts faster.