Deposits into Lockbox Account. Borrower represents, warrants and covenants that (i) Borrower shall, or shall cause Manager to, deposit all Gross Income from Operations, all forfeited Security Deposits and all other revenue of any kind from each Individual Property received by Borrower or Manager into the Lockbox Account no later than one (1) Business Day after receipt; provided, however, that all Lease Termination Payments and forfeited Security Deposits shall be deposited directly in to the Rollover Reserve Account; (ii) Borrower shall send a notice, substantially in the form of Exhibit A, to all Tenants now or hereafter occupying space at each Individual Property directing them to pay all Rents (including all Lease Termination Payments) and all other sums due under the Lease to which they are a party directly into the Lockbox Account; (iii) other than the Accounts and Borrower’s account referred to in Section 3.7(a)(i) hereof, there shall be no other accounts maintained by Borrower or any other Person into which revenues from the ownership and operation of the Properties are deposited; and (iv) neither Borrower nor any other Person shall open any other such account with respect to the deposit of income in connection with the Properties other than Borrower’s account referred to in Section 3.7(a)(i) hereof. Until deposited into the Lockbox Account, any Gross Income from Operations, forfeited Security Deposits and other revenue of any kind from the Properties received by Borrower or Manager shall be deemed to be Collateral and shall be held in trust by Borrower or Manager, as the case may be, for the benefit, and as the property, of Lender. Borrower warrants and covenants that it shall not rescind, withdraw or change any notices or instructions required to be sent by it pursuant to this Section 3.2 without Lender’s prior written consent.
Deposits into Lockbox Account. Borrower shall cause all Rents from the Properties to be deposited into the Lockbox Account in accordance with the Cash Management Agreement. Without limitation of the foregoing, Borrower shall, and shall cause Manager to, (a) cause or direct all tenants under Leases to deliver all Rents payable thereunder either directly to the Lockbox Account or to Manager for deposit into the Lockbox Account, and (b) deposit all amounts received by Borrower or Manager constituting Rents or other revenue of any kind from the Properties into the Lockbox Account within one (1) Business Day of receipt thereof. Disbursements from the Lockbox Account will be made in accordance with the terms and conditions of this Agreement and the Cash Management Agreement. Lender shall have sole dominion and control over the Lockbox Account and, except as set forth in the Cash Management Agreement, Borrower shall have no rights to make withdrawals therefrom.
Deposits into Lockbox Account. Borrower shall cause all ----------------------------- Rents from the Properties to be deposited into the Lockbox Account in accordance with the Cash Management Agreement. Without limitation of the foregoing, Borrower shall (a) deliver irrevocable written instructions to all Tenants under Leases to deliver all Rents payable thereunder directly to the Lockbox Account, and (b) deposit all amounts received by Borrower constituting Rents or other revenue of any kind from the Properties into the Lockbox Account within one (1) Business Day of receipt thereof. Disbursements from the Lockbox Account will be made in accordance with the terms and conditions of this Agreement and the Cash Management Agreement. Lender shall have sole dominion and control over the Lockbox Account and, except as set forth in the Cash Management Agreement, Borrower shall have no rights to make withdrawals therefrom.
Deposits into Lockbox Account. Except to the extent specifically provided to the contrary as set forth in Section 7.06, Borrower shall cause all Rents from the Pad Properties and the Megaplex Properties to be deposited into the Lockbox Account in accordance with the Cash Management Agreement. Without limitation of the foregoing, Borrower shall (a) deliver irrevocable written instructions to all tenants under leases of the Pad Properties and Megaplex Properties (except to the extent specifically provided to the contrary as set forth in Section 7.06) to deliver all Rents payable thereunder directly to the Lockbox Account, and (b) deposit all amounts received by Borrower, and cause all deposits received by Megaplex Owner, constituting Rents or other revenue of any kind from the Pad Properties and Megaplex Properties into the Lockbox Account within one (1) Business Day of receipt thereof. Additionally, (i) Borrower shall cause all distributions and payments otherwise payable to or for the account of Archon SPE Holdings from Securitization Property Owner or the Securitized Properties, and (ii) upon Megaplex Owner's acquisition of all of the membership interests in Westminster Holdings, Borrower shall cause all distributions and payments otherwise payable to or for the account of Westminster Holdings, Westminster Corporate GP, and/or Westminster Retail from the Westminster Retail Property and to or for the account of Westminster Holdings, Westminster Corporate GP and/or Westminster Theatre and from the holder of the existing first mortgage loan on the Westminster Theatre Property, or if such loan is repaid, then from the Westminster Theatre Property, in all cases to be deposited into the Lockbox Account in accordance with the Cash Management Agreement. Without limitation of the foregoing, Borrower shall, and shall cause Archon SPE Holdings and Securitization Property Owner, to (1) deliver irrevocable written instructions to the agent under and senior lender under the Archon Securitized Loan Documents to deliver all such payments referenced in the immediately preceding sentence directly to the Lockbox Account, and (2) deposit all such amounts referenced in the immediately preceding sentence received by Borrower, Archon SPE Holdings or Securitization Property Owner into the Lockbox Account within one (1) Business Day of receipt thereof. Additionally, upon Megaplex Owner's acquisition of all of the membership interest in Westminster Holdings, Borrower shall, and shall cause Megaplex Owner, Westm...
Deposits into Lockbox Account. (a) Borrower represents, warrants and covenants that (i) Borrower shall, or shall cause Manager to, deposit all Gross Income from Operations into the Lockbox Account within two (2) Business Days of receipt thereof, (ii) Borrower shall send a notice, substantially in the form of Exhibit B, to all tenants now or hereafter occupying space at the Property directing them to pay all Rents and other sums due under the Lease to which they are a party into the Lockbox Account, (iii) other than the Accounts, there shall be no other accounts maintained by Borrower or any other Person into which revenues from the ownership and operation of the Property are deposited, except for accounts maintained by Property Manager for the payment of operating expenses or the payment of distributions to Borrower’s equity holders, and (iv) neither Borrower nor any other Person shall open any other such account with respect to the deposit of income in connection with the Property. Until deposited into the Lockbox Account, any Gross Income from Operations from the Property held by Borrower shall be deemed to be Collateral and shall be held in trust by it for the benefit, and as the property, of Lender and shall not be commingled with any other funds or property of Borrower.
(b) Borrower warrants and covenants that it shall not rescind, withdraw or change any notices or instructions required to be sent by it pursuant to this Section 3.2 without Lender’s prior written consent.
Deposits into Lockbox Account. From and after the Lockbox Trigger Date, Borrower shall cause all Tenants at the Property to pay Rent directly into the Lockbox Account on or before the date such Rent is due under the terms of the applicable Lease. Borrower shall send a notice, substantially in the form of Exhibit C hereto, on a date which is no later than the Lockbox Trigger Date to all Tenants at the Property directing them to pay all Rent into the Lockbox Account. Neither the Lockbox Account nor the Cash Management Agreement shall alter or diminish in any way Borrower's obligation to make timely payment and deposits to all sums required to be paid or deposited under any Loan Document.
Deposits into Lockbox Account. Borrower shall cause all Rents from the Properties to be deposited into the Lockbox Account in accordance with the Cash Management Agreement. Without limitation of the foregoing, Borrower shall, and shall cause Manager to, (a) deliver irrevocable written instructions to all Tenants under Leases to deliver all Rents payable thereunder directly to the Lockbox Account, and (b) deposit all amounts received by Borrower or Manager, if any, constituting Rents or other revenue of any kind from the Properties into the Lockbox Account within one (1) Business Day of receipt thereof. Disbursements from the Lockbox Account will be made in accordance with the terms and conditions of this Agreement and the Cash Management Agreement. Lender shall have sole dominion and control over the Lockbox Account and any other cash management account established pursuant to the Cash Management Agreement and, except as set forth in the Cash Management Agreement, Borrower shall have no rights to make withdrawals therefrom. Borrower shall be responsible for all costs of maintaining all such accounts.
Deposits into Lockbox Account. In the event that (a) the Debt Service Coverage Ratio shall at any time be less than 1.50:1 for a twelve (12) month period or (b) the Loan is not paid in full on or prior to the Anticipated Repayment Date (each event described in clauses (a) and (b) hereof is a "Lockbox Event"), Borrower shall cause all Rents from the Properties to be deposited into the Lockbox Account in accordance with the Cash Management Agreement, and Borrower shall, and shall cause Manager to, deliver irrevocable written instructions to all Tenants under Leases to deliver all Rents payable thereunder directly to the Lockbox Account and Borrower shall cause the holder of the Lockbox Account to execute and deliver to Lender the agreement in the form annexed to the Cash Management Agreement as Exhibit C. In the event that either Borrower or Manager receives any amounts constituting Rents or other revenue of any kind from the Properties, including but not limited to the Other Contract Funds, after establishment of the Lockbox Account, Borrower shall, or shall cause Manager to, deposit said amounts into the Lockbox Account not later than the second Business Day after receipt thereof. Disbursements from the Lockbox Account will be made in accordance with the terms and conditions of this Agreement and the Cash Management
Deposits into Lockbox Account. Owner and Borrower shall cause all Tenants at the Collateral Property to pay Rent directly into the Lockbox Account on or before the date such Rent is due under the terms of the applicable Lease. When bills to Tenants are delivered pursuant to Section 6.11.6 of this Agreement, Owner and Borrower shall send a notice, substantially in the form of Exhibit A attached hereto, to all Tenants at the Collateral Property directing them to pay all Rent into the Lockbox Account. In the event that Owner, Borrower, their respective Affiliates or the Manager receives any Rents directly, Owner and Borrower agree to deposit, or cause to be deposited, all such Rents into the Lockbox Account within one (1)
Deposits into Lockbox Account. Borrower represents, warrants and covenants that (i) Borrower shall, or shall cause Manager to, immediately deposit all Gross Income from Operations, all forfeited Security Deposits and all other revenue of any kind from each Individual Property received by Borrower or Manager into the applicable Lockbox Account no later than one (1) Business Day after
