Common use of Eligible Accounts/Characterization of Accounts Clause in Contracts

Eligible Accounts/Characterization of Accounts. Borrowers and Clearing Account Bank shall maintain the Clearing Account as an Eligible Account, and Borrowers and Deposit Account Bank shall maintain each the Deposit Account and each Sub-Account as an Eligible Account. Each Account is and shall be treated as a “securities account” as such term is defined in Section 8-501(a) of the UCC or a “deposit account” as such term is defined in Section 9-102(a)(29) of the UCC, as the context may require. Each item of property (whether investment property, financial asset, securities, instrument, cash or other property) credited to each Account shall be treated as a “financial asset” within the meaning of Section 8-102(a)(9) of the UCC. Borrowers agree that each Account Bank shall, subject to the terms of this Agreement, treat Lender as entitled to exercise the rights that comprise any financial asset credited to each Account. All securities or other property underlying any financial assets credited to each Account (other than cash) shall be registered in the name of the applicable Account Bank, indorsed to the applicable Account Bank or in blank or credited to another securities account maintained in the name of the applicable Account Bank and in no case will any financial asset credited to any Account be registered in the name of any Borrower, payable to the order of any Borrower or specially indorsed to any Borrower.

Eligible Accounts/Characterization of Accounts. Borrowers and Clearing Each Account Bank shall maintain the Clearing Account as an Eligible Account, and Borrowers and Deposit Account Bank shall maintain each the Deposit Account and each Sub-Account be maintained as an Eligible Account. Each Account is and shall be treated either as a “"securities account” ", as such term is defined in Section 8-501(a) of the UCC UCC, or a “"deposit account” ", as such term is defined in Section 9-102(a)(29) of the UCC, as the context may require. Each Deposit Bank acknowledges and agrees that it shall notify Lender which Accounts are intended to be deposit accounts and which Accounts are intended to be securities accounts. Deposit Bank hereby agrees that each item of property (whether investment property, financial asset, securities, instrument, cash or other property) credited to each Account shall be treated as a “"financial asset” " within the meaning of Section 8-102(a)(9) of the UCC. Borrowers agree that each Account Bank shall, subject Subject to the terms of this Agreement, treat Lender shall be treated as entitled having the right to exercise the rights that comprise with respect to any financial asset credited to each Account, but subject to the terms of the Loan Agreement. All securities or other property underlying any financial assets credited to each Account (other than cash) shall be registered in the name of the applicable Account BankLender, indorsed to the applicable Account Bank Lender or in blank or credited to another securities account maintained in the name of the applicable Account Bank Lender and in no case will any financial asset credited to any Account be registered in the name of any BorrowerBorrower or Manager, payable to the order of any Borrower or Manager or specially indorsed to any BorrowerBorrower or Manager.

Eligible Accounts/Characterization of Accounts. Borrowers and Clearing Each Account Bank shall maintain the Clearing Account as an Eligible Account, and Borrowers and Deposit Account Bank shall maintain each the Deposit Account and each Sub-Account be maintained as an Eligible Account. Each Account is and shall be treated either as a “"securities account” " as such term is defined in Section 8-501(a) of the UCC or a “"deposit account” " as such term is defined in Section 9-102(a)(29) of the UCC, as the context may require. Each Agent acknowledges and agrees that it shall notify Lender which Accounts are intended to be deposit accounts and which Accounts are intended to be securities accounts. Agent hereby agrees that each item of property (whether investment property, 494 financial asset, securities, instrument, cash or other property) credited to each Account shall be treated as a “"financial asset” " within the meaning of Section 8-102(a)(9) of the UCC. Borrowers agree that each Account Bank shall, subject Subject to the terms of this Agreement, treat Lender shall be treated as entitled having the right to exercise the rights that comprise with respect to any financial asset credited to each Account, but subject to the terms of the Mezzanine Loan Agreement. All securities or other property underlying any financial assets credited to each Account (other than cash) shall be registered in the name of the applicable Account BankLender, indorsed to the applicable Account Bank Lender or in blank or credited to another securities account maintained in the name of the applicable Account Bank Lender and in no case will any financial asset credited to any Account be registered in the name of any Borrower, any Owner or Manager, payable to the order of any Borrower Borrower, any Owner or Manager or specially indorsed to any Borrower, any Owner or Manager.

Eligible Accounts/Characterization of Accounts. Borrowers and Clearing Each Account Bank shall maintain the Clearing Account as an Eligible Account, and Borrowers and Deposit Account Bank shall maintain each the Deposit Account and each Sub-Account as be an Eligible Account. Each Securities Account is and shall be treated as a “securities account” as such term is defined in Section 8-501(a) of the UCC or a “deposit account” as such term is defined in Section 9-102(a)(29) of the UCC, as the context may require. Each Bank hereby agrees that each item of property (whether investment property, financial asset, securities, securities entitlement, instrument, cash or other property) credited to each Account shall be treated as a “financial asset” within the meaning of Section 8-102(a)(9) of the UCC. Borrowers agree that each Account Bank shall, subject to the terms of this Agreement, treat Lender Trustee as entitled to exercise the rights that comprise any financial asset credited to each Account. All securities or other property underlying any financial assets credited to each Account (other than cash) shall be registered in the name of the applicable Account Bank, indorsed endorsed to the applicable Account Bank or in blank or credited to another securities account maintained in the name of the applicable Account Bank and in no case will any financial asset credited to any Account be registered in the name of any BorrowerCCL, Manager or the Guarantors, payable to the order of any Borrower CCL, Manager, or the Guarantors or specially indorsed endorsed to any BorrowerCCL, Manager, or the Guarantors.