Common use of Collateral Reserve Account Clause in Contracts

Collateral Reserve Account. In accordance with and as more fully set forth in the Security Agreement, the Borrower and each Guarantor shall: (1) establish and maintain a lockbox; and (2) upon the request of the Required Banks, establish and maintain with the Agent a Collateral Reserve Account.

Collateral Reserve Account. In accordance with and as more fully set forth in the Security Agreement, the Borrower and Borrower, each Guarantor and the other Loan Parties shall: (1) establish and maintain a lockbox; and (2) upon the request of the Required BanksBank, establish and maintain with the Agent Bank a Collateral Reserve Account. 8. Section 2.16(b)(iii) of the Agreement is hereby deleted in its entirety, and the following new section is inserted in its place:

Collateral Reserve Account. In accordance with and as more fully set forth in the Security Agreement, the Borrower and each Guarantor shall: (1) as soon as practicable but in any event before July 1, 2001, establish and maintain a lockbox; and (2) upon the request of the Required Banks, establish and maintain with the Agent a Collateral Reserve Account.