Common use of Cure Account Clause in Contracts

Cure Account. (a) The Company shall cause all cash received by it in connection with a Borrowing Base Cure pursuant to clause (i) of the definition of such term to be deposited in the Cure Account or remitted to the Collateral Agent, and the Collateral Agent shall credit to the Cure Account such amounts received by it (and identified in writing as such) promptly upon receipt thereof. Prior to the Maturity Date, all cash amounts in the Cure Account may be invested in overnight Eligible Investments at the written direction of the Servicer. In the absence of any direction from the Servicer, amounts held in such accounts will remain uninvested. All amounts contributed to the Company by the Servicer in connection with a Borrowing Base Cure shall be paid free and clear of any right of chargeback or other equitable claim.