Common use of Deposit of Proceeds Clause in Contracts

Deposit of Proceeds. (a) Merchandise Agency Account. From and after the Closing Date, all Sale Proceeds and amounts collected in respect of Sales Taxes shall be deposited by Agent in agency accounts established by Agent (the "Agency Accounts"). Agent may, in its discretion, designate new or existing accounts of Agent or Merchant as the Agency Accounts, provided that such accounts are dedicated solely to the deposit of Sale Proceeds and the disbursement of amounts payable by Agent hereunder. Agent shall exercise sole signatory authority and control with respect to the Agency Accounts. Merchant shall promptly upon Agent's request execute and deliver all necessary documents to open and maintain the Agency Accounts. To the extent that Agent shall elect to use existing accounts of Merchant as the Agency Accounts, (a) all Sale Proceeds deposited in such accounts will constitute the property of Agent and shall be held in trust by Merchant for Agent, (b) commencing on the first business day following the Closing Date, and on each business day thereafter, Merchant shall pay to Agent by wire funds transfer all collected funds constituting Sale Proceeds deposited in such accounts, and (c) upon request, Merchant shall deliver to Agent copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for and Agent shall pay as an Expense hereunder, all bank fees and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term.

Deposit of Proceeds. (aThis Section 7.2(a) Merchandise Agency Accountshall apply in the event that the transaction is to be converted to a cash payment transaction pursuant to Section 3.5 hereof. From and after the Closing Date, all Sale All cash Proceeds and amounts collected in respect of Sales Taxes shall be deposited by Agent in agency accounts established by Agent (the "Agency Accounts"). Agent may, in its discretion, designate new or existing accounts of Agent or Merchant as the Agency Accounts, provided that such accounts are dedicated solely to the deposit of Sale Proceeds and the disbursement of amounts payable by Agent hereunder. Agent shall exercise sole signatory authority and control with respect to the Agency Accounts. Merchant shall promptly upon Agent's request execute and deliver all necessary documents to open and maintain the Agency Accounts. To the extent that Agent shall elect to use existing accounts of Merchant as the Agency Accounts, (a) all Sale Proceeds deposited in such accounts will constitute the property of Agent and shall be held in trust by Merchant for Agent, (b) commencing on the first business day following the Closing Sale Commencement Date, and on each business day thereafter, Merchant shall pay to Agent by wire funds transfer all collected funds constituting Sale Proceeds deposited in such accounts, and (c) upon request, Merchant shall deliver to Agent copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for and Agent shall pay as an Expense hereunder, all bank fees and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term.such

Deposit of Proceeds. (ai) Merchandise Agency Account. From and after payment in full of the Closing DateGuaranteed Amount (whether through collection of Proceeds or exercise of the Merchant Option), all Sale Proceeds and amounts collected in respect of Sales Taxes shall be deposited by Agent in agency accounts established by Agent (the "Agency Accounts"). Agent maymay establish its own accounts, in its discretion, designate new or existing accounts of Agent or Merchant as the Agency Accounts, provided that such accounts are dedicated solely to for the deposit of Sale the Proceeds and the disbursement of amounts payable by to Agent hereunderhereunder (the “Agency Accounts”) and Merchant shall promptly, upon Agent’s reasonable request, execute and deliver all necessary documents to open and maintain the Agency Accounts; provided, however, Agent may elect to continue to use Merchant’s Designated Deposit Accounts (as defined below) as the Agency Accounts. Provided the Security Conditions are satisfied OR the Guaranteed Amount has been paid in full, Agent shall exercise sole signatory authority and control with respect to the Agency Accounts. Accounts (provided that, if Agent uses the Merchant shall promptly upon Agent's request execute and deliver all necessary documents to open and maintain the Agency Accounts. To the extent that Agent shall elect to use existing accounts of Merchant Designated Deposit Accounts as the Agency Accounts, (a) all Sale Proceeds deposited the Security Conditions must be satisfied in such accounts will constitute order for Agent to exercise sole signatory authority and control with respect thereto). Unless Agent uses the property of Agent and Merchant Designated Deposit Accounts as the Agency Accounts, the Agency Accounts shall be held in trust by Merchant for Agent, (b) commencing on dedicated solely to the first business day following deposit of Proceeds and the Closing Date, and on each business day thereafter, Merchant shall pay to Agent by wire funds transfer all collected funds constituting Sale Proceeds deposited in such accounts, and (c) upon distribution of amounts payable hereunder. Upon request, Merchant Agent shall deliver to Agent Merchant copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for for, and Agent shall pay as an Expense hereunder, all bank fees fee and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term. Upon Agent’s notice to Merchant of Agent’s designation of the Agency Accounts, and provided the Security Conditions are satisfied, all Proceeds of the Sale (including credit card Proceeds) shall be deposited into the Agency Accounts.

Deposit of Proceeds. (a) Merchandise Agency Account. From and Within (i) fourteen (14) business days after the Closing Sale Commencement Date, all with respect to cash transactions, and (ii) fourteen (14) days after the Sale Proceeds Commencement Date, with respect to credit card transactions (as and amounts collected in respect of Sales Taxes shall be deposited by Agent in agency accounts established by Agent (where applicable the "Agency AccountsMerchant Account Usage Period"). , Agent mayshall establish its own accounts, in its discretion, designate new or existing accounts of Agent or Merchant as the Agency Accounts, provided that such accounts are dedicated solely to for the deposit of Sale the Proceeds and the disbursement of amounts payable by to Agent hereunder. , which accounts may be the Designated Merchant Accounts (as defined below) so long as Merchant, Agent shall exercise sole signatory authority and control with respect to the Lender Agent agree (the "Agency Accounts. ") and Merchant shall promptly upon Agent's request execute and deliver all necessary documents to open and maintain the Agency Accounts. To ; provided however, in the extent event that Agent establishes a reasonable business justification therefore, Merchant and Lender Agent shall elect consent to use existing accounts an appropriate extension of the applicable Merchant as Account Usage Period. Agent shall exercise sole signatory authority and control with respect to the Agency Accounts; provided however, (a) all Sale Proceeds deposited in such accounts will constitute the property of Agent and shall be held in trust by Merchant for Agent, (b) commencing on the first business day following the Closing Date, and on each business day thereafter, Merchant shall pay to Agent by wire funds transfer all collected funds constituting Sale Proceeds deposited in such accounts, and (c) upon request, Merchant Agent shall deliver to Agent Merchant copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for and Agent shall pay as an Expense hereunder, all bank fees fee and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term. Upon Agent's designation of the Agency Accounts, all Proceeds of the Sale (including credit card proceeds) shall be deposited into the Agency Accounts.

Deposit of Proceeds. (a) Merchandise Agency Account. From Prior to the issuance of the Store Final Inventory Report and after payment of the Closing Dateundisputed Remaining Guaranteed Amount, all Proceeds of the Sale Proceeds and amounts collected in respect of Sales Taxes (including credit card proceeds) shall be deposited collected by Agent and deposited on a daily basis into depository accounts designated by Merchant (subject to the liens of GECC and the Indenture Trustee to the extent of the Agent’s Payment Obligations (as defined in agency Section 16 hereof) for the Stores, which accounts established by Agent (the "Agency Accounts"). Agent may, in its discretion, designate new or existing accounts of Agent or Merchant as the Agency Accounts, provided that such accounts are dedicated shall be designated solely to for the deposit of Proceeds of the Sale Proceeds (including credit card proceeds), and the disbursement of amounts payable by Agent hereunder (the “Designated Deposit Accounts”). The Designated Deposit Accounts shall be dedicated solely to the deposit of Proceeds and the disbursement of amounts payable hereunder. Agent , and Merchant (or GECC, as the case may be) shall exercise sole signatory authority and control with respect to the Agency Accounts. Merchant shall promptly upon Agent's request execute and deliver Designated Deposit Accounts subject in all necessary documents respects to open and maintain the Agency Accounts. To the extent that Agent shall elect to use existing accounts of Merchant as the Agency Accounts, (a) all Sale Proceeds deposited in such accounts will constitute the property of Agent and shall be held in trust by Merchant for Agent, (b) commencing on the first business day following the Closing Datelien and security interests in, and on each business day thereaftercontrol of, Merchant shall pay to Agent such Designated Deposit Accounts by wire funds transfer all collected funds constituting Sale Proceeds deposited in such accounts, GECC and (c) upon the Lenders. Upon request, Merchant shall deliver to Agent copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for for, and Agent shall pay as an Expense hereunder, all bank fees and charges, including wire transfer charges, related to the Agency Designated Deposit Accounts, whether received during or after the Sale Term. Proceeds in the Designated Deposit Accounts shall be transferred daily to a concentration account maintained under the control of GECC (the “Concentration Account”). Amounts in the Concentration Account shall be subject to disbursement as set forth in Section 3.3. All Augment Proceeds will be distributed to Agent upon receipt by the Merchant and the Lenders of the weekly reconciliation report provided in accordance with Section 8.7 below.

Deposit of Proceeds. (a) Merchandise Agency Account. From and after the Closing Date, all Sale All cash Proceeds and amounts collected in respect of Sales Taxes shall be deposited by Agent in agency accounts established by Agent (the "Agency Accounts"). Agent may, in its discretion, designate new or existing accounts of Agent or Merchant as (such accounts, the “Agency Accounts”). Merchant and its lender, provided that such accounts are dedicated solely to the deposit of Sale Proceeds and the disbursement of amounts payable by Agent hereunder. Agent General Electric Capital Corporation (“GECC”) shall exercise sole signatory authority and control with respect to the Agency Accounts. Proceeds collected in the Agency Accounts shall be reconciled weekly in accordance with Section 8.8 hereof and, immediately after such reconciliation, Merchant shall promptly upon Agent's request execute and deliver all necessary documents pay to Agent any amounts due under Section 3.3 hereof. After payment of the Guaranteed Amount, (a) Agent shall have the right (but not the obligation) to open new accounts for which Agent shall exercise sole signatory authority into which all cash Proceeds of the Store Closing Sale shall be deposited, and maintain the Agency Accounts. To (b) to the extent that Agent shall elect to continue to use existing accounts of Merchant as the Agency Accounts, (ai) all Sale Proceeds deposited in such accounts will constitute the property of Agent and shall be held in trust by Merchant for Agent, and (bii) commencing on the first business day following the Closing Datedate upon which the Guaranteed Amount is paid in full, and on each business day thereafter, Merchant shall pay to Agent by wire funds transfer all collected funds constituting Sale Proceeds deposited in such accounts. At any time during the Sale Term, and (c) upon requestrequest by Agent, Merchant shall deliver to Agent copies documentation reflecting the deposit and wire transfers of all bank statements and other information relating to such accountsProceeds. Merchant shall not be responsible for and Agent shall pay as an Expense hereunder, all bank fees and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term.