Common use of Establishment of Certain Accounts Clause in Contracts

Establishment of Certain Accounts. (a) Borrower shall, simultaneously herewith, establish an Eligible Account with Xxxxx Fargo Bank, National Association (the “Restricted Account”) pursuant to the Restricted Account Agreement in the name of ARC AAANGIN001, LLC for the sole and exclusive benefit of Lender into which Borrower shall deposit, or cause to be deposited, all revenue generated by the Property. Pursuant to the Restricted Account Agreement, funds on deposit in the Restricted Account shall be transferred on each Business Day to the Cash Management Account. (b) Simultaneously herewith, Lender, on Borrower’s behalf, shall establish an Eligible Account (the “Cash Management Account”) with Xxxxx Fargo Bank, National Association, in the name of Borrower for the sole and exclusive benefit of Lender in accordance with that certain Cash Management Agreement, dated as of the date hereof, by and among Xxxxx Fargo Bank, National Association, Borrower and Lender (as the same may be amended, restated or modified from time to time, the “Cash Management Agreement”). Simultaneously herewith, Lender, on Borrower’s behalf, shall also establish with Lender, Cash Management Bank or Servicer an Eligible Account into which Borrower shall deposit, or cause to be deposited the amounts required for the payment of Debt Service under the Loan (the “Debt Service Account”).

Establishment of Certain Accounts. (a) Borrower shall, simultaneously herewith, establish an Eligible Account with Xxxxx Wxxxx Fargo Bank, National Association (the “Restricted Account”) pursuant to the Restricted Account Agreement in the name of ARC AAANGIN001NYC123WILLIAM, LLC for the sole and exclusive benefit of Lender into which Borrower shall deposit, or cause to be deposited, all revenue generated by the Property. Pursuant to the Restricted Account Agreement, funds on deposit in the Restricted Account shall be transferred on each Business Day to the Cash Management Account. (b) Simultaneously herewith, Lender, on Borrower’s behalf, shall establish an Eligible Account (the “Cash Management Account”) with Xxxxx Wxxxx Fargo Bank, National Association, in the name of Borrower for the sole and exclusive benefit of Lender in accordance with that certain Cash Management Agreement, dated as of the date hereof, by and among Xxxxx Wxxxx Fargo Bank, National Association, Borrower and Lender (as the same may be amended, restated or modified from time to time, the “Cash Management Agreement”). Simultaneously herewith, Lender, on Borrower’s behalf, shall also establish with Lender, Cash Management Bank or Servicer an Eligible Account into which Borrower shall deposit, or cause to be deposited the amounts required for the payment of Debt Service under the Loan (the “Debt Service Account”).

Establishment of Certain Accounts. (a) Borrower shall, simultaneously herewith, establish an Eligible Account with Xxxxx Fargo Bank, National Association (the “Restricted Account”) pursuant to the Restricted Account Agreement in the name of ARC AAANGIN001NYC123WILLIAM, LLC for the sole and exclusive benefit of Lender into which Borrower shall deposit, or cause to be deposited, all revenue generated by the Property. Pursuant to the Restricted Account Agreement, funds on deposit in the Restricted Account shall be transferred on each Business Day to the Cash Management Account. (b) Simultaneously herewith, Lender, on Borrower’s behalf, shall establish an Eligible Account (the “Cash Management Account”) with Xxxxx Fargo Bank, National Association, in the name of Borrower for the sole and exclusive benefit of Lender in accordance with that certain Cash Management Agreement, dated as of the date hereof, by and among Xxxxx Fargo Bank, National Association, Borrower and Lender (as the same may be amended, restated or modified from time to time, the “Cash Management Agreement”). Simultaneously herewith, Lender, on Borrower’s behalf, shall also establish with Lender, Cash Management Bank or Servicer an Eligible Account into which Borrower shall deposit, or cause to be deposited the amounts required for the payment of Debt Service under the Loan (the “Debt Service Account”).

Establishment of Certain Accounts. (a) Borrower shall, simultaneously herewith, establish an Eligible Account with Xxxxx Fargo Bank, National Association (the “Restricted Account”) with KeyBank National Association (in such capacity, the “Restricted Account Bank”) pursuant to the Restricted Account Agreement in the name of ARC AAANGIN001ARG 1CBHGNJ001, LLC for the sole and exclusive benefit of Lender into which Borrower shall deposit, or cause to be deposited, all revenue generated by the Property. Pursuant to the Restricted Account Agreement, funds on deposit in the Restricted Account shall be transferred on each Business Day during the continuance of a Trigger Period to the Cash Management Account. (b) Simultaneously herewith, Lender, on Borrower’s behalf, shall establish an Eligible Account (the “Cash Management Account”) with Xxxxx Fargo an Eligible Institution (the “Cash Management Bank, National Association”), in the name of Borrower for the sole and exclusive benefit of Lender in accordance with that certain Cash Management Agreement, dated as of the date hereof, by and among Xxxxx Fargo the Cash Management Bank, National Association, Borrower and Lender (as the same may be amended, restated or modified from time to time, the “Cash Management Agreement”). Simultaneously herewithIn addition, Lender, on Borrower’s behalf, shall also establish with Lender, Cash Management Bank or Servicer an Eligible Account account (which may be a sub-account of the Cash Management Account) into which Borrower shall deposit, or cause to be deposited the amounts required for the payment of Debt Service under the Loan (the “Debt Service Account”).

Establishment of Certain Accounts. (a) Borrower shall, simultaneously herewith, establish an Eligible Account with Xxxxx Fargo Bank, National Association (the “Restricted Clearing Account”) pursuant to the Restricted Clearing Account Agreement in the name of ARC AAANGIN001, LLC Borrower for the sole and exclusive benefit of Lender into which Borrower shall deposit, or cause to be deposited, (i) for so long as the Marriott Management Agreement is in effect, all Operating Profit that Borrower is entitled to receive pursuant to the terms of the Marriott Management Agreement or (ii) if the Marriott Management Agreement is not in effect, all revenue generated by the PropertyProperty less an amount equal to the Monthly Operating Expenses (which Monthly Operating Expenses shall be deposited by Manager directly into the Operating Account). Pursuant to the Restricted Clearing Account Agreement, funds on deposit in the Restricted Clearing Account shall be transferred on each Business Day to the Cash Management Account. (b) Simultaneously herewith, Lender, on Borrower’s behalf, Borrower shall establish an Eligible Account (the “Cash Management Account”) with Xxxxx Fargo BankLender or Servicer, National Associationas applicable, in the name of Borrower for the sole and exclusive benefit of Lender in accordance with that certain Cash Management Agreement, dated as of the date hereof, by and among Xxxxx Fargo Bank, National Association, Lender. Borrower and Lender (as the same may be amended, restated or modified from time to time, the “Cash Management Agreement”). Simultaneously herewith, Lender, on Borrower’s behalf, shall also establish with Lender, Cash Management Bank Lender or Servicer an Eligible Account into which Borrower shall deposit, or cause to be deposited the amounts required for the payment of Debt Service under the Loan (the “Debt Service Account”).