Common use of Deposit of Revenues Clause in Contracts

Deposit of Revenues. The Borrower agrees that it will or will direct Lakes, any other manager of the Project, and any other applicable parties to cause all Project Revenues to be transferred to the Agent on each Business Day for deposit into the Project Dominion Account. If any Project Revenues are initially deposited in collection bank(s) (which shall be permitted provided the collecting bank(s) execute and deliver the Joinder Agreement attached hereto as Exhibit A with the Borrower, Lakes and the collecting banks in form mutually acceptable to each of such parties), the Borrower shall transfer or cause to be transferred all such Project Revenues or other Collateral, consisting of cash and other collected funds directly by wire transfer of immediate available funds to the Project Dominion Account on each Business Day. In the event that the Borrower receives any payment that should have been deposited into the Project Dominion Account as provided pursuant to this Agreement, the Borrower agrees that it will hold such amounts in trust for the benefit of Lakes, and shall not commingle any such funds with any of its funds or other property and shall immediately transfer such amounts to the Agent for deposit into the Project Dominion Account. The Borrower agrees that the Agent's officers, agents and employees are irrevocably authorized by it to endorse for payment to the Agent any instruments received by the Agent for deposit into the Project Dominion Account.

Deposit of Revenues. The Borrower agrees that it will or will direct Lakes, any other manager of the Project, and any other applicable parties to cause all Project Revenues to be transferred to the Agent on each Business Day for deposit into the Project Dominion Account. If any Project Revenues are initially deposited in collection bank(s) (which shall be permitted provided the collecting bank(s) execute and deliver the Joinder Agreement attached hereto as Exhibit A with the Borrower, Lakes and the collecting banks in form mutually acceptable to each of such parties), the Borrower shall transfer or cause to be transferred all such Project Revenues or other Collateral, consisting of cash and other collected funds directly by wire transfer of immediate available funds to the Project Dominion Account on each Business Day. In the event that the Borrower receives any payment that should have been deposited into the Project Dominion Account as provided pursuant to this Agreement, the Borrower agrees that it will hold such amounts in trust for the benefit of Lakes, and shall not commingle any such funds with any of its funds or other property and shall immediately transfer such amounts to the Agent for deposit into the Project Dominion Account. The Borrower agrees that the Agent's officers, agents and employees are irrevocably authorized by it to endorse for payment to the Agent any instruments received by the Agent for deposit into the Project Dominion Account.

Deposit of Revenues. The Borrower agrees that it will or will direct Lakes, any other manager of the ProjectProject Facilities, and any other applicable parties to cause all Project Revenues to be transferred to the Agent on each Business Day for deposit into the Project Dominion Account. If any Project Revenues are initially deposited in collection bank(s) (which shall be permitted provided the collecting bank(s) execute and deliver the Joinder Agreement attached hereto as Exhibit A with the Borrower, Lakes and the collecting banks in form mutually acceptable to each of such parties), the Borrower shall transfer or cause to be transferred all such Project Revenues or other Collateral, consisting of cash and other collected funds directly by wire transfer of immediate available funds to the Project Dominion Account on each Business Day. In the event that the Borrower receives any payment that should have been deposited into the Project Dominion Account as provided pursuant to this Agreement, the Borrower agrees that it will hold such amounts in trust for the benefit of Lakes, and shall not commingle any such funds with any of its funds or other property and shall immediately transfer such amounts to the Agent for deposit into the Project Dominion Account. The Borrower agrees that the Agent's officers, agents and employees are irrevocably authorized by it to endorse for payment to the Agent any instruments received by the Agent for deposit into the Project Dominion Account.