Common use of Establishment of Collateral Accounts Clause in Contracts

Establishment of Collateral Accounts. (a) On or prior to the Effective Date and upon any Person becoming a Grantor hereunder, each such Grantor shall have established with the Custodian, and at all times thereafter until the Secured Obligations of such Grantor shall have been irrevocably and indefeasibly paid in full and this Agreement is terminated in accordance with its terms, such Grantor shall maintain with the Custodian: (i) each Deposit Account listed in Part A of Schedule I hereto (each of which shall be maintained by the Custodian in the name of such Grantor) (each, a “Collateral Deposit Account”); (ii) each Securities Account listed in Part B of Schedule I hereto (each of which shall be maintained by the Custodian in the name of such Grantor) (each a “Collateral Securities Account” and, together with each Collateral Deposit Account, the “Collateral Accounts”). (b) The Custodian shall credit any Cash or Securities deposited, delivered or transferred by or on behalf of the respective Grantor to the Custodian in connection with any Credit Transaction in accordance with Section 4.03 to (x) in the case of Cash, such Grantor’s Collateral Deposit Account and (y) in the case of Securities, such Grantor’s Collateral Securities Account. Back to Contents

Establishment of Collateral Accounts. (a) On or prior to the Effective Date and upon any Person becoming a Grantor hereunder, each such Grantor shall have established with the Custodian, and at all times thereafter until the Secured Obligations of such Grantor shall have been irrevocably and indefeasibly paid in full and this Agreement is terminated in accordance with its terms, such Grantor shall maintain with the Custodian: (i) each Deposit Account listed opposite such Grantor’s name in Part A of Schedule I hereto (each of which shall be maintained by the Custodian in the name of such Grantor) (each, a “Collateral Deposit Account”); (ii) each Securities Account listed opposite such Grantor’s name in Part B of Schedule I hereto (each of which shall be maintained by the Custodian in the name of such Grantor) (each a “Collateral Securities Account” and, together with each Collateral Deposit Account, the “Collateral Accounts”). (b) The Custodian shall credit any Cash or Securities deposited, delivered or transferred by or on behalf of the respective Grantor to the Custodian in connection with any Credit Transaction in accordance with Section 4.03 to (x) in the case of Cash, such Grantor’s Collateral Deposit Account and (y) in the case of Securities, such Grantor’s Collateral Securities Account. Back to Contents.

Establishment of Collateral Accounts. (a) On or prior to the Effective Date and upon any Person becoming a Grantor hereunder, each such Grantor shall have established with the Custodian, and at all times thereafter until the Secured Obligations of such Grantor shall have been irrevocably and indefeasibly paid in full and this Agreement is terminated in accordance with its terms, such Grantor shall maintain with the Custodian: (i) each Deposit Account listed opposite such Grantor’s name in Part A of Schedule I hereto (each of which shall be maintained by the Custodian in the name of such Grantor) (each, a “Collateral Deposit Account”); (ii) each Securities Account listed opposite such Grantor’s name in Part B of Schedule I hereto (each of which shall be maintained by the Custodian in the name of such Grantor) (each a “Collateral Securities Account” and, together with each Collateral Deposit Account, the “Collateral Accounts”). (b) The Custodian shall credit any Cash or Securities deposited, delivered or transferred by or on behalf of the respective Grantor to the Custodian in connection with any Credit Transaction in accordance with Section 4.03 to (x) in the case of Cash, such Grantor’s Collateral Deposit Account and (y) in the case of Securities, such Grantor’s Collateral Securities Account. Back to Contents.

Establishment of Collateral Accounts. (a) On or prior to the Effective Date and upon any Person becoming a Grantor hereunder, each such Grantor shall have established with the Custodian, and at all times thereafter until the Secured Obligations of such Grantor shall have been irrevocably and indefeasibly paid in full and this Agreement is terminated in accordance with its terms, such Grantor shall maintain with the Custodian: (i) each Deposit Account listed in Part A of Schedule I hereto (each of which shall be maintained by the Custodian in the name of such Grantor) (each, a “Collateral Deposit Account”); (ii) each Securities Account listed in Part B of Schedule I hereto (each of which shall be maintained by the Custodian in the name of such Grantor) (each a “Collateral Securities Account” and, together with each Collateral Deposit Account, the “Collateral Accounts”). (b) The Custodian shall credit any Cash or Securities deposited, delivered or transferred by or on behalf of the respective Grantor to the Custodian in connection with any Credit Transaction in accordance with Section 4.03 to (x) in the case of Cash, such Grantor’s Collateral Deposit Account and (y) in the case of Securities, such Grantor’s Collateral Securities Account. Back to Contents.