Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at its office at 000 Xxxxx Xxxxxxxx Xxxxxx, Los Angeles, CA 90071, as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Varco International, Inc. Collateral Account".
(b) The Collateral Account shall be operated in accordance with the terms of this Agreement.
(c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Secured Party hereunder, for the benefit of Lenders, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Pledgor shall have no right to withdraw, transfer or, except as expressly set forth herein, otherwise receive any funds deposited into the Collateral Account.
(d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.
Establishment and Operation of Collateral Account. Secured Party is hereby authorized to establish and maintain at its office at 1980 Xxxxxx Xxxxxx, Xxxxxxxx Xxxx, Xxxxxxxxxx 00000, xx a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account designated as "Bell Xxxustries Collateral Account".
Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at Depository at its office at 000 Xxxxxx Xxxxxx, Xxxxxxxxx, Xxxx 00000-0000 as a blocked account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted deposit account and/or one or more custody accounts, each designated as “KeyBank as Agent under Revolving Credit Agreement and Unsecured Revolving Credit Agreement in trust for AmeriVest Chateau Inc. and AmeriVest Xxxxxxxxx Inc. Collateral Account”. The parties hereto acknowledge that Depository has been acting as depository pursuant to the Original Collateral Account Agreement, and that the parties hereto are clarifying such roles in this Agreement in connection with the granting by Pledgors of a subordinate lien in the Collateral Account.
(b) The Collateral Account shall be operated in accordance with the terms of this Agreement. The Collateral Account shall be assigned the tax identification number of Pledgors which is 00-0000000. The Collateral Account shall not be evidenced by a certificate of deposit, passbook or other instrument. The Collateral Account shall be an interest bearing account. Any interest which may accrue on the amounts on deposit in the Collateral Account shall be added to and shall become a part of the balance of the Collateral Account.
(c) By execution hereof, Chateau transfers to Xxxxxxxxx an undivided interest in all amounts at any time held in the Collateral Account. All amounts at any time held in the Collateral Account shall, subject to the terms hereof, be beneficially owned by Pledgors but shall be held by Secured Party (through Depository) hereunder, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Xxxxxxxxx acknowledges that the funds in the Collateral Account at all times prior to the date hereof have been subject to the lien of the Secured Party under the Original Collateral Account Agreement, and that the funds of Xxxxxxxxx in the Collateral Account continue to be subject to such lien. Pledgors shall have no right to withdraw, transfer or, otherwise receive any funds deposited into the Collateral Account except as expressly approved by Secured Party pursuant to §5.6 of the Credit Agreement.
(d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any ...
Establishment and Operation of Collateral Account. (a) The Pledgors hereby authorize and direct [Bank of America, N.A.] to establish and maintain at its Funding and Payment Office, as a blocked account in the name of the Pledgors but under the sole dominion and control of [the Administrative Agent], a restricted deposit account designated as the “Circus and Eldorado Joint Venture.”
(b) The Collateral Account shall be operated in accordance with the terms of this Agreement.
(c) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.
Establishment and Operation of Collateral Account. Pledgor hereby authorizes and directs Secured Party to establish and maintain at its office at the Funding and Payment Office, as a blocked account in the name of Pledgor but under the sole dominion and control of Secured Party, a restricted deposit account designated as "Dominick's Finer Foods, Inc. Collateral Account".
Establishment and Operation of Collateral Account. (a) Secured Party is hereby authorized to establish and maintain at Depository at its office at 000 Xxxxxx Xxxxxx, Xxxxxxxxx, Xxxx 00000-0000 as a blocked account in the name of Secured Party and, subject to the rights of the secured party under the First Collateral Account Agreement, under the sole dominion and control of Secured Party, a restricted deposit account and/or one or more custody accounts, each designated as “KeyBank as Agent Under Revolving Credit Agreement and Unsecured Revolving Credit Agreement in trust for AmeriVest Chateau Inc. and AmeriVest Xxxxxxxxx Inc. Collateral Account”.
(b) The Collateral Account shall be operated in accordance with the terms of this Agreement. The Collateral Account shall be assigned the tax identification number of Pledgors which is 00-0000000. The Collateral Account shall not be evidenced by a certificate of deposit, passbook or other instrument. The Collateral Account shall be an interest bearing
Establishment and Operation of Collateral Account. (a) Agent is hereby authorized to establish and maintain at its office at _____________________, as a blocked account in the name of Agent and, except as provided in Section 2(b) hereof under the sole dominion and control of Agent, a restricted deposit account designated as "Benedek Communications Corporation Collateral Account".
(b) So long as no Event of Default shall have occurred and be continuing, Pledgor shall have free access to the Collateral Account and full right of withdrawal thereunder and to direct the investment of amounts therein in accordance with Section 6 hereof, subject at all times to the rules and regulations of Agent and to all applicable laws.
(c) All amounts at any time held in the Collateral Account shall be beneficially owned by Pledgor but shall be held in the name of Agent hereunder, for the benefit of Secured Parties, as collateral security for the Secured Obligations upon the terms and conditions set forth herein. Upon the occurrence and during the continuance of an Event of Default, Pledgor shall have no right to withdraw, transfer or otherwise receive any funds deposited into the Collateral Account.
(d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.
Establishment and Operation of Collateral Account. (a) Pledgor hereby authorizes and directs Secured Party to establish and maintain at its office at the Funding and Payment Office, as a blocked account in the name of Pledgor but under the sole dominion and control of Secured Party, a restricted deposit account designated as "Players International, Inc. Collateral Account".
(b) The Collateral Account shall be operated in accordance with the terms of this Agreement.
(c) Secured Party shall be fully protected and shall suffer no liability in acting in accordance with any written instructions reasonably believed by it to have been given by Pledgor with respect to any aspect of the operation of the Collateral Account.
(d) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.
Establishment and Operation of Collateral Account. (1) Pledgor hereby authorizes and directs Secured Party to establish and maintain at its Funding and Payment Office, as a blocked account in the name of Pledgor but under the sole dominion and control of Secured Party, a restricted deposit account designated as the “Circus and Eldorado Joint Venture”.
(2) The Collateral Account shall be operated in accordance with the terms of this Agreement.
(3) Secured Party shall be fully protected and shall suffer no liability in acting in accordance with any written instructions reasonably believed by it to have been given by Pledgor with respect to any aspect of the operation of the Collateral Account.
(4) Anything contained herein to the contrary notwithstanding, the Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.
Establishment and Operation of Collateral Account
