Common use of Changes to Accounts Clause in Contracts

Changes to Accounts. Borrower shall not and shall cause each other Loan Party not to, without the prior written consent of Lender, (a) open or permit to remain open any cash, securities or other account with any bank, custodian or institution other than the Collection Account, the Accounts, the Security Deposit Accounts and the Rent Deposit Accounts that are subject to a Deposit Account Control Agreement, (b) change or permit to change any account number of the Collection Account, the Accounts or any Rent Deposit Account, (c) open or permit to remain open any sub-account of the Collection Account (except any Account), the Accounts or any Rent Deposit Account, (d) permit any funds of Persons other than Borrower or any Borrower TRS to be deposited or held in any of the Collection Account, the Accounts or the Rent Deposit Accounts or (e) permit any Collections or other proceeds of any Properties to be deposited or held in Borrower’s Operating Account other than cash that is distributed to Borrower pursuant to Section 6.8.1(i).

Appears in 4 contracts

Samples: Loan Agreement (Invitation Homes Inc.), Loan Agreement (Invitation Homes Inc.), Loan Agreement (Invitation Homes Inc.)

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Changes to Accounts. Borrower shall not and shall cause each other Loan Party not to, without the prior written consent of LenderAdministrative Agent, (a) open or permit to remain open any cash, securities or other account with any bank, custodian or institution other than the Collection Account, the Accounts, the Security Deposit Accounts and the Rent Deposit Accounts that are subject to a Deposit Account Control Agreement, (b) change or permit to change any account number of the Collection Account, the Accounts or any Rent Deposit Account, (c) open or permit to remain open any sub-account of the Collection Account (except any Account), the Accounts or any Rent Deposit Account, (d) permit any 103 funds of Persons other than Borrower or any Borrower TRS to be deposited or held in any of the Collection Account, the Accounts or the Rent Deposit Accounts or (e) permit any Collections or other proceeds of any Properties to be deposited or held in Borrower’s Operating Account other than cash that is distributed to Borrower pursuant to Section 6.8.1(i6.8.1(j).

Appears in 1 contract

Samples: Loan Agreement (Invitation Homes Inc.)

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