Common use of Deposit to Cash Collateral Account Clause in Contracts

Deposit to Cash Collateral Account. If Lender draws under the Letter of Credit pursuant to Section 7.05(b)(ii) or Section 7.05(b)(iii) above, Lender shall deposit such draw monies into a Cash Collateral Account established pursuant to a Cash Collateral Agreement entered into the first time Lender draws any such monies. Lender shall hold the Letter of Credit drawn monies in the Cash Collateral Account until the earliest of the following events occurs: (i) Borrower presents an acceptable replacement Letter of Credit and Lender agrees, in its sole discretion, to accept such Letter of Credit (provided that any agreement by Lender to accept a replacement Letter of Credit will be conditioned upon Borrower’s payment of all administrative and legal costs incurred by Lender and Xxxxxx Xxx in connection with the replacement of the Letter of Credit.) (ii) the applicable provisions of this Agreement pursuant to which the Letter of Credit was provided are satisfied; (iii) Borrower pays all amounts due and payable under the Loan Documents and Lender releases the liens of all Security Instruments; (iv) Lender, in its sole discretion, consents to Borrower's request to apply the funds to the principal balance of a Note specified by Borrower and any prepayment premium due in connection with such application; or (v) an Event of Default occurs and Lender elects to apply the proceeds as described below in Section 7.05(e);

Deposit to Cash Collateral Account. If Lender draws under the Letter of Credit pursuant to Section 7.05(b)(ii5.10(b)(ii) or Section 7.05(b)(iii5.10(b)(iii) above, Lender shall deposit such draw monies into a Cash Collateral Account established pursuant to a Cash Collateral Agreement entered into the first time Lender draws any such monies. Lender shall hold the Letter of Credit drawn monies in the Cash Collateral Account until the earliest of the following events occurs: (i) Borrower presents an acceptable replacement Letter of Credit and Lender agrees, in its sole discretion, to accept such Letter of Credit (provided that any agreement by Lender to accept a replacement Letter of Credit will be conditioned upon Borrower’s payment of all administrative and legal costs incurred by Lender and Xxxxxx Xxx Mae in connection with the replacement of the Letter of Credit.) (ii) the applicable provisions of this Agreement pursuant to which the Letter of Credit was provided are satisfied; (iii) Borrower pays all amounts due and payable under the Loan Documents and Lender releases the liens of all Security Instruments; (iv) Lender, in its sole discretion, consents to Borrower's ’s request to apply the funds to the principal balance of a Note specified by Borrower and any prepayment premium due in connection with such application; or (v) an Event of Default occurs and Lender elects to apply the proceeds as described below in Section 7.05(e5.10(d);; During any period that Lender holds the cash proceeds resulting from a draw on any Letter of Credit, Lender will not pay interest to, or on behalf of, Borrower in connection with such funds.

Deposit to Cash Collateral Account. If Lender draws under the Letter of Credit pursuant to Section 7.05(b)(ii6.12(b)(ii) or Section 7.05(b)(iii6.12(b)(iii) above, Lender shall deposit such draw monies into a Cash Collateral Account established pursuant to a Cash Collateral Agreement entered into the first time Lender draws any such monies. Lender shall hold the Letter of Credit drawn monies in the Cash Collateral Account until the earliest of the following events occurs: (i) Borrower presents an acceptable replacement Letter of Credit and Lender agrees, in its sole discretion, agrees to accept such Letter of Credit (provided that any agreement by Lender to accept a replacement Letter of Credit will be conditioned upon Borrower’s payment of all administrative and legal costs incurred by Lender and Xxxxxx Xxx in connection with the replacement of the Letter of Credit.) (ii) the applicable provisions of this Agreement pursuant to which the Letter of Credit was provided are satisfied; (iii) Borrower pays all amounts due and payable under the Loan Documents and Lender releases the liens of all Security Instruments; (iv) Lender, in its sole discretion, consents to Borrower's ’s request to apply the funds to the principal balance of a Note specified by Borrower and any prepayment premium due in connection with such application; or (v) an Event of Default occurs and Lender elects to apply the proceeds as described below in Section 7.05(e6.12(d);; During any period that Lender holds the cash proceeds resulting from a draw on any Letter of Credit, Lender will not pay interest to, or on behalf of, Borrower in connection with such funds.

Deposit to Cash Collateral Account. If Lender draws under the Letter of Credit pursuant to Section 7.05(b)(ii5.11(b)(ii) or Section 7.05(b)(iii5.11(b)(iii) above, Lender shall deposit such draw monies into a Cash Collateral Account established pursuant to a Cash Collateral Agreement entered into the first time Lender draws any such monies. Lender shall hold the Letter of Credit drawn monies in the Cash Collateral Account until the earliest of the following events occurs: (i) Borrower presents an acceptable replacement Letter of Credit and Lender agrees, in its sole discretion, to accept such Letter of Credit (provided that any agreement by Lender to accept a replacement Letter of Credit will be conditioned upon Borrower’s payment of all administrative and reasonable third party, out-of-pocket legal costs incurred by Lender and Xxxxxx Xxx in connection with the replacement of the Letter of Credit.) (ii) the applicable provisions of this Agreement pursuant to which the Letter of Credit was provided are satisfied; (iii) Borrower pays all amounts due and payable under the Loan Documents and Lender releases the liens of all Security InstrumentsDocuments; (iv) Lender, in its sole discretion, Lender consents to Borrower's ’s written request to apply the funds to the principal balance of a Note specified by Borrower and any prepayment premium due in connection with such application; or (v) an Event of Default occurs and Lender elects to apply the proceeds as described below in Section 7.05(e5.11(d);; During any period that Lender holds the cash proceeds resulting from a draw on any Letter of Credit, Lender will not pay interest to, or on behalf of, Borrower in connection with such funds.

Deposit to Cash Collateral Account. If Lender draws under the Letter of Credit pursuant to Section 7.05(b)(ii5.11(b)(ii) or Section 7.05(b)(iii5.11(b)(iii) above, Lender shall deposit such draw monies into a Cash Collateral Account established pursuant to a Cash Collateral Agreement entered into the first time Lender draws any such monies. Lender shall hold the Letter of Credit drawn monies in the Cash Collateral Account until the earliest of the following events occurs: (i) Borrower presents an acceptable replacement Letter of Credit and Lender agrees, in its sole discretion, to accept such Letter of Credit (provided that any agreement by Lender to accept a replacement Letter of Credit will be conditioned upon Borrower’s payment of all administrative and legal costs incurred by Lender and Xxxxxx Xxx in connection with the replacement of the Letter of Credit.) (ii) the applicable provisions of this Agreement pursuant to which the Letter of Credit was provided are satisfied; (iii) Borrower pays all amounts due and payable under the Loan Documents and Lender releases the liens of all Security Instruments; (iv) Lender, in its sole discretion, consents to Borrower's ’s request to apply the funds to the principal balance of a Note specified by Borrower and any prepayment premium due in connection with such application; or (v) an Event of Default occurs and Lender elects to apply the proceeds as described below in Section 7.05(e5.ll(d);; During any period that Lender holds the cash proceeds resulting from a draw on any Letter of Credit, Lender will not pay interest to, or on behalf of, Borrower in connection with such funds.

Deposit to Cash Collateral Account. If Lender draws under the Letter of Credit pursuant to Section 7.05(b)(ii5.11(b)(ii) or Section 7.05(b)(iii5.11(b)(iii) above, Lender shall deposit such draw monies into a Cash Collateral Account established pursuant to a Cash Collateral Agreement entered into the first time Lender draws any such monies. Lender shall hold the Letter of Credit drawn monies in the Cash Collateral Account until the earliest of the following events occurs: (i) Borrower presents an acceptable replacement Letter of Credit and Lender agrees, in its sole discretion, to accept such Letter of Credit (provided that any agreement by Lender to accept a replacement Letter of Credit will be conditioned upon Borrower’s payment of all administrative and legal costs incurred by Lender and Xxxxxx Xxx in connection with the replacement of the Letter of Credit.) (ii) the applicable provisions of this Agreement pursuant to which the Letter of Credit was provided are satisfied; (iii) Borrower pays all amounts due and payable under the Loan Documents and Lender releases the liens of all Security Instruments; (iv) Lender, in its sole discretion, consents to Borrower's ’s request to apply the funds to the principal balance of a Note specified by Borrower and any prepayment premium due in connection with such application; or (v) an Event of Default occurs and Lender elects to apply the proceeds as described below in Section 7.05(e5.11(d);; During any period that Lender holds the cash proceeds resulting from a draw on any Letter of Credit, Lender will not pay interest to, or on behalf of, Borrower in connection with such funds. Colonial/ Grandbridge — Master Credit Facility Agreement