Establishment and Maintenance of Cash Management Deposit Account Sample Clauses

Establishment and Maintenance of Cash Management Deposit Account. (a) On or prior to the Closing Date, Issuers and Operating Lessees shall establish with Note Trustee, or if Note Trustee is not a depository institution or if Note Trustee shall otherwise elect, with one or more depository institutions selected by Note Trustee, a separate deposit account (the "Deposit Account") which has been established as a deposit account and a separate holding account (the "Holding Account") which has been established as a securities account. Both the Deposit Account and the Holding Account shall be in the name of and under the sole dominion and control of Note Trustee, subject only to Note Trustee's obligations hereunder to advance funds therefrom in accordance with this Indenture and the other Transaction Documents, and no Issuer or Operating Lessee shall have the authority or power to make withdrawals from either the Deposit Account or the Holding Account. Funds in either the Deposit Account or the Holding Account shall not be commingled with any other monies. Pursuant to the Deposit Account Agreement, Depositary Bank on a daily basis shall transfer all collected and available funds as determined by Depositary Bank's then current funds availability schedule received in the Deposit Account to the Holding Account. In recognition of Note Trustee's security interest in the funds deposited into the Deposit Account and the Holding Account, Issuer and Operating Lessee shall identify both the Deposit Account and the Holding Account with the name of Note Trustee, as secured party. The Deposit Account shall be named as follows: "Strategic Hotel Floating Rate Public Portfolio f/b/o LaSalle Bank National Association, as Note Trustee Deposit Account"). The Holding Account shall be named as follows: "Strategic Hotel Floating Rate Public Portfolio f/b/o LaSalle Bank National Association, as Note Trustee Holding Account"). Without limiting the foregoing, all deposits into either the Deposit Account or the Holding Account shall be applied and disbursed in accordance with the terms and provisions of Section 9.4 hereof and the Deposit Account Agreement.
Sample 1
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Establishment and Maintenance of Cash Management Deposit Account. (a) On or prior to the Closing Date, Borrowers shall establish with Lender, or if Lender is not a depository institution or if Lender shall otherwise elect, with one or more depository institutions selected by Lender, a separate deposit account (the “Mezzanine Loan Deposit Account”) which has been established as a deposit account and a separate holding account (the “Mezzanine Loan Holding Account”) which has been established as a securities account. Both the Mezzanine Loan Deposit Account and the Mezzanine Loan Holding Account shall be in the name of and under the sole dominion and control of Lender, subject only to Lender’s obligations hereunder to advance or otherwise disburse or apply funds therefrom in accordance with this Agreement and the other Loan Documents, and no Borrower shall have authority or power to make withdrawals from either the Mezzanine Loan Deposit Account or the Mezzanine Loan Holding Account. Funds in either the Mezzanine Loan Deposit Account or the Mezzanine Loan Holding Account shall not be commingled with any other monies. Pursuant to the Mezzanine Loan Deposit Account Agreement, Depositary Bank on a daily basis shall transfer all collected and available funds as determined by Depositary Bank’s then current funds availability schedule received in the Mezzanine Loan Deposit Account to the Mezzanine Loan Holding Account. In recognition of Lender’s security interest in the funds deposited into the Mezzanine Loan Deposit Account and the Mezzanine Loan Holding Account, Borrower shall identify both the Mezzanine Loan Deposit Account and the Mezzanine Loan Holding Account with the name of Lender, as secured party. The Mezzanine Loan Deposit Account shall be named as follows: “SHC Michigan Avenue/Chopin Plaza Mezzanine I, LLC Deposit Account”. The Mezzanine Loan Holding Account shall be named as follows: “ SHC Michigan Avenue/Chopin Plaza Mezzanine I, LLC Holding Account”). Without limiting the foregoing, all deposits into the Mezzanine Loan Deposit Account or the Mezzanine Loan Holding Account shall be applied and disbursed in accordance with the terms and provisions of Section 9.4 hereof and the Mezzanine Loan Deposit Account Agreement.
Sample 1
Establishment and Maintenance of Cash Management Deposit Account. (a) On or prior to the Closing Date, Obligor shall establish with Agent, or if Agent is not a depository institution or if Agent shall otherwise elect, with one or more depository institutions selected by Agent, a separate deposit account (the “Deposit Account”) which has been established as a deposit account and a separate holding account (the “Holding Account”) which has been established as a securities account. Both the Deposit Account and the Holding Account shall be in the name of and under the sole dominion and control of Agent, subject only to Agent’s obligations hereunder to advance funds therefrom in accordance with this Agreement and the other Loan Documents, and Obligor shall have no authority or power to make withdrawals from either the Deposit Account or the Holding Account. Funds in either the Deposit Account or the Holding Account shall not be commingled with any other monies. Pursuant to the Deposit Account Agreement, Depositary Bank on a daily basis shall transfer all collected and available funds as determined by Depositary Bank’s then current funds availability schedule received in the Deposit Account to the Holding Account. In recognition of Lenders’ security interest in the funds deposited into the Deposit Account and the Holding Account, Obligor shall identify both the Deposit Account and the Holding Account with the name of Agent, as secured party. The Deposit Account shall be named as follows: “DTRS Intercontinental Miami, LLC - Deposit Account”. The Holding Account shall be named as follows: “DTRS Intercontinental Miami, LLC - Holding Account”. Without limiting the foregoing, all deposits into either the Deposit Account or the Holding Account shall be applied and disbursed in accordance with the terms and provisions of Section 7.14 hereof and the Deposit Account Agreement.
Sample 1

Related to Establishment and Maintenance of Cash Management Deposit Account

  • MAINTENANCE OF DEPOSIT ACCOUNTS PSC shall maintain on behalf of Customer such deposit accounts as are necessary or desirable from time to time to enable PSC to carry out the provisions of this Agreement.

  • Maintenance of Dominion Account Borrowers shall maintain Dominion Accounts pursuant to lockbox or other arrangements acceptable to Agent. Borrowers shall obtain an agreement (in form and substance satisfactory to Agent) from each lockbox servicer and Dominion Account bank, establishing Agent’s control over and Lien in the lockbox or Dominion Account, which may be exercised by Agent during any Sweep Trigger Period, requiring immediate deposit of all remittances received in the lockbox to a Dominion Account, and waiving offset rights of such servicer or bank, except for customary administrative charges. If a Dominion Account is not maintained with Bank of America, Agent may, during any Sweep Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America. Agent and Lenders assume no responsibility to Borrowers for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank.

  • Establishment of a Lockbox Account, Dominion Account All proceeds of Collateral shall be deposited by Borrower into either (i) a lockbox account, dominion account or such other “blocked account” (“Blocked Accounts”) established at a bank or banks (each such bank, a “Blocked Account Bank”) pursuant to an arrangement with such Blocked Account Bank as may be selected by Borrower and be acceptable to Agent or (ii) depository accounts (“Depository Accounts”) established at Agent for the deposit of such proceeds. Borrower, Agent and each Blocked Account Bank shall enter into a deposit account control agreement in form and substance satisfactory to Agent directing such Blocked Account Bank, upon notice from Agent, to transfer such funds so deposited to Agent, either to any account maintained by Agent at said Blocked Account Bank or by wire transfer to appropriate account(s) of Agent. All funds deposited in such Blocked Accounts shall immediately become the property of Agent and Borrower shall obtain the agreement by such Blocked Account Bank to waive any offset rights against the funds so deposited. Neither Agent nor any Lender assumes any responsibility for such blocked account arrangement, including any claim of accord and satisfaction or release with respect to deposits accepted by any Blocked Account Bank thereunder. All deposit accounts and investment accounts of Borrower are set forth on Schedule 4.15(g). Notwithstanding anything to the contrary set forth in this Section 4.15(g), Borrower shall be permitted to deposit checks or other payments received at Borrower’s locations in the Ordinary Course of Business in deposit accounts which may not be subject to a blocked account or similar agreements; provided that, at no time shall Borrower have more than $50,000 in the aggregate in all such accounts which are not Blocked Accounts or Depository Accounts.

  • Establishment of Deposit Account The Financial Institution hereby confirms and agrees that:

  • Cash Management Account Borrower hereby represents and warrants to Lender that:

  • Establishment of Collateral Accounts The Custodian hereby confirms and agrees that:

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that:

  • Deposit Accounts; Credit Card Arrangements (a) Annexed hereto as Schedule 5.21(a) is a list of all DDAs maintained by the Loan Parties as of the Closing Date, which Schedule includes, with respect to each DDA (i) the name and address of the depository; (ii) the account number(s) maintained with such depository; (iii) a contact person at such depository, and (iv) the identification of each Blocked Account Bank.

  • Establishment of and Deposits to Custodial Account The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled "Countrywide Home Loans Inc. in trust for the Purchaser of Conventional Residential Conventional Residential Mortgage Loans, and various Mortgagors". The Custodial Account shall be established with a Qualified Depository. Any funds deposited in the Custodial Account shall at all times be fully insured to the full extent permitted under applicable law. Funds deposited in the Custodial Account may be drawn on by the Company in accordance with Section 4.05. The creation of any Custodial Account shall be evidenced by a certification in the form of Exhibit D-1 hereto, in the case of an account established with the Company, or by a letter agreement in the form of Exhibit D-2 hereto, in the case of an account held by a depository other than the Company. A copy of such certification or letter agreement shall be furnished to the Purchaser and, upon request, to any subsequent Purchaser. The Company shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Company and payments made by the Company after the related Cut-off Date, (other than payments of principal and interest due on or before the related Cut-off Date, or received by the Company prior to the related Cut-off Date but allocable to a period subsequent thereto or with respect to each LPMI Loan, in the amount of the LPMI Fee):

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