[Collateral Support Account] Sample Clauses

[Collateral Support Account]. [The Indenture Trustee acknowledges that, pursuant to the provisions of the Swap Agreement, the Swap Counterparty may be required to post collateral with the Indenture Trustee to secure the Swap Counterparty’s obligations under the Swap Agreement. If required under the Swap Agreement, the Servicer or the Administrator shall, in accordance with the provisions of the Swap Agreement, establish and maintain in the name of the Indenture Trustee at an Eligible Institution (which shall initially be the Indenture Trustee) a segregated trust account designated as the Collateral Support Account (the “Collateral Support Account”) to hold such collateral. The Indenture Trustee agrees to follow such written instructions relating to the establishment of, the administration of, and transfers from, the Collateral Support Account as may be delivered by the Servicer or the Administrator. The Servicer and the Administrator, in providing such instructions, shall comply with the provisions of the Swap Agreement.]
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[Collateral Support Account]. (i) The Borrower has established, or caused to be established, pursuant to the Collateral Support Account Agreement, for the benefit of the Collateral Agent, on behalf of the Secured Parties, a Collateral Support Account as described in Section 2.12(b) into which (1) the Required Collateral Support Amount shall be on deposit, (2) the Borrower shall deposit any applicable Establishment Fees, to be held in the Collateral Support Account in accordance with Section 2.12(e)(iii), (3) the Borrower shall deposit any applicable Royalty Fees, to be held in the Collateral Support Account in accordance with Section 2.12(e)(iii), (4) in the event of a breach of the Level 1 Minimum Market Capitalization Financial Covenant, the Borrower shall cause the Guarantor, to the extent not already deposited, to deposit in the Collateral Support Account 50% of the remaining amount guaranteed under the Limited Guaranty, and (5) in the event of a breach of the Level 2 Minimum Market Capitalization Financial Covenant, the Borrower shall cause the Guarantor, to the extent not already deposited, to deposit in the Collateral Support Account all of the remaining amount guaranteed under the Limited Guaranty. (ii) Amounts on deposit in the Collateral Support Account shall be withdrawn as needed on each Settlement Date in accordance with the provisions of Section 2.13. In addition, any amounts paid under the Limited Guaranty shall be deposited into the Collateral Support Account for distribution in accordance with Section 2.13. (iii) Unless (1) an Event of Default under clauses (a), (f), (g), (h), (p) and (u) of Section 7.1 has occurred and is continuing, (2) any other Event of Default (excluding an Event of Default pursuant to Section 7.1(s)) has occurred and is continuing, and the Administrative Agent has provided the Borrower with written notice of such Event of Default, (3) as of the date of determination, the amount on deposit in the Collateral Support Account is less than the Required Collateral Support Amount, (4) a Performance Trigger has occurred and is continuing, or (5) the Required Receivable Reserve Amount, subject to the Required Receivable Reserve Limit, is not on deposit in the Receivable Reserve Account: (A) the first $25,000 of the Establishment Fees from any F45 Studio on deposit in the Collateral Support Account shall be remitted by the Collateral Support Account Bank to the Borrower (or any designee of the Borrower) after a period of twelve (12) months after such F45 S...
Sample 1

Related to [Collateral Support Account]

  • Collection Account (a) On behalf of the Trustee, the Servicer shall establish and maintain, or cause to be established and maintained, one or more segregated Eligible Accounts (such account or accounts, the “Collection Account”), held in trust for the benefit of the Trustee. On behalf of the Trustee, the Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer’s receipt thereof, and shall thereafter deposit into the Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the related Mortgage Loans due on or before the Cut-off Date), or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto: (i) all payments on account of principal, including Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (net of the related Servicing Fee) on each Mortgage Loan; (iii) all Insurance Proceeds and Condemnation Proceeds to the extent such Insurance Proceeds and Condemnation Proceeds are not to be applied to the restoration of the related Mortgaged Property or released to the related Mortgagor in accordance with the express requirements of law or in accordance with Accepted Servicing Practices, Liquidation Proceeds and Subsequent Recoveries; (iv) any amounts required to be deposited pursuant to Section 3.12 in connection with any losses realized on Permitted Investments with respect to funds held in the Collection Account; (v) any amounts required to be deposited by the Servicer pursuant to the second paragraph of Section 3.13(a) in respect of any blanket policy deductibles; (vi) all proceeds of any Mortgage Loan repurchased or purchased in accordance with this Agreement; and (vii) all Prepayment Charges collected by the Servicer. The foregoing requirements for deposit in the Collection Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of late payment charges, NSF fees, reconveyance fees, assumption fees and other similar fees and charges need not be deposited by the Servicer in the Collection Account and shall, upon collection, belong to the Servicer as additional compensation for its servicing activities. In the event the Servicer shall deposit in the Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from the Collection Account, any provision herein to the contrary notwithstanding. (b) Funds in the Collection Account may be invested in Permitted Investments in accordance with the provisions set forth in Section 3.12. The Servicer shall give notice to the Securities Administrator, the Master Servicer, the Trustee and the Depositor of the location of the Collection Account maintained by it when established and prior to any change thereof.

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