Designation of Control Accounts. 13.1.1 Each of:
(a) the Borrower, Xxxxxx, Nicolsco and Twinhope shall open and maintain;
(b) if Winhope Finance opens any bank account, it shall open and maintain such account, in its name with the designated branch of a Foreign Account Bank a current account denominated in euros, designated "Operational Account".
13.1.2 The Borrower shall open and maintain in its name with the designated branch of a Foreign Account Bank a current account denominated in dollars, designated "Operational Account".
13.1.3 Stella shall open and maintain in its name with the designated branch of a Foreign Account Bank a current account denominated in USD, designated "Operational Account".
13.1.4 Marisana shall open and maintain in its name with:
(a) the designated branch of the Russian Account Bank a current account denominated in euros, a euro transit account for the conversion of roubles to euros and a current account denominated in roubles, each designated "Operational Account"; and
(b) on and from the date falling 3 months after the Amendment and Restatement Date, the designated branch of OJSC Nordea Bank a current account denominated in dollars and a dollars transit account for the conversion of roubles to dollars, each designated "Operational Account".
13.1.5 No Obligor shall maintain any other account with any bank or financial institution (including any account for the purpose of a term deposit) without the prior written consent of the Lender other than a Control Account subject to Transaction Security.
Designation of Control Accounts. (i) On or prior to the Utilisation Date of the first Advance under the Facility:
(A) the Parent will open the Equity Drawdown Account, a Master Proceeds Account and a Disbursement Account;
(B) the Luxco Borrower will open the Debt Drawdown Account, a Disbursement Account and a Master Proceeds Account; and
(C) each Asset Company (other than an Asset Company that is a direct wholly-owned Subsidiary of an Intermediate Company) and each Intermediate Company will open a Master Proceeds Account and a Disbursement Account.
(ii) Each Asset Company and each Intermediate Company will open a separate Property Proceeds Account in relation to each Property prior to any date on which it is due to receive any amount in respect of such Property (or any Project situated on such Property) which is required to be deposited into a Property Proceeds Account in accordance with the terms of any Senior Finance Document. Each such Property Proceeds Account must be subject to a first ranking Security Interest in favour of the Senior Finance Parties and a satisfactory legal opinion in relation to the Security Document creating such Security Interest shall be provided to the Facility Agent.
(iii) An Asset Company that is a direct wholly-owned Subsidiary of an Intermediate Company may open a Disbursement Account. Such Disbursement Account must be subject to a first ranking Security Interest in favour of the Senior Finance Parties and a satisfactory legal opinion in relation to the Security Document creating such Security Interest shall be provided to the Facility Agent.
(iv) No Group Member may maintain any bank accounts other than the Control Accounts referred to in this paragraph and may not carry on banking business with any person other than an Account Bank.
Designation of Control Accounts. 16.1.1 The Borrower will on, or prior to, the date of this Agreement open and maintain in its name with the Account Bank in Brussels an account styled “Disbursement Account”.
16.1.2 The Borrower will on, or prior to, any date on which it is due to receive any other amount which is required to be deposited into the Proceeds Account in accordance with any Finance Document, open and maintain in its name with the Account Bank in Brussels an account styled “Proceeds Account”.
Designation of Control Accounts and includes any interest of the Borrower in any replacement account or sub-division or sub-account of any such account.
Designation of Control Accounts. (a) The Borrower will on or prior to the first Utilisation open and maintain in its name with the designated branch of the Account Bank:
(i) an account styled "General Account",
(ii) an account styled "Rental Income Account",
(iii) an account styled “Insurance Proceeds Account”
(iv) an account styled "Debt Service Reserve Account"
(v) an account styled "Repair Reserve Account"; and
(vi) an account styled “Cash Equity Account”.
(b) To the exception of the Current Account, the Borrower may not at any time during the term of this Agreement, without the prior written consent of the Agent, maintain any other account with any bank or financial institution.
