Deposit to WWP Fund Clause Samples

Deposit to WWP Fund. On the Closing Date, Borrower shall deposit an amount equal to $260,000,000.00 into an operating account in Borrower’s name and solely under Borrower’s control with KeyBank, National Association to be used by Guarantor or its Affiliates to acquire the remaining direct equity interest in the equity owner of the World Wide Plaza Property pursuant to that certain joint venture agreement between Guarantor and its joint venture partner(s) (“Equity Purchase”). Amounts so deposited shall hereinafter be referred to as Borrower’s “WWP Fund” and the account in which such amounts are held shall hereinafter be referred to as Borrower’s “WWP Account”. Notwithstanding anything to the contrary herein, Agent shall not be entitled to any security interest in the WWP Account, the WWP Fund and any and all monies now or hereafter deposited in the WWP Account. In no event shall the WWP Fund be included in or treated as a Reserve Fund pursuant to this Agreement or any other Loan Documents.