Common use of Establishment of Collection Accounts Clause in Contracts

Establishment of Collection Accounts. (a) In accordance with the provisions of the Operating Lease, (i) Operating Company has established and will maintain for the benefit of Mortgage Borrower, as lessor under the Operating Lease, the Collection Accounts with Collection Banks throughout the term of the Mortgage Loan and (ii) the rights of Mortgage Borrower (as landlord) under the Operating Lease have been collaterally assigned to Mortgage Lender. All Revenues, other than amounts retained on-site by each Operating Company as a Gaming Operating Reserve and amounts collected and maintained in Off-Shore Accounts, shall be deposited in the Collection Accounts.

Establishment of Collection Accounts. (a) (i) In accordance with the provisions of the Operating Lease, (i) Operating Company has established and is currently maintaining (and will maintain throughout the term of the Loan) for the benefit of Mortgage Borrower, as lessor under the each Operating Lease, the Collection Accounts with Collection Banks throughout the term of the Mortgage Loan and (ii) the rights of Mortgage Borrower (as landlord) under the Operating Lease have been collaterally assigned to Mortgage Collateral Agent (for the benefit of Lender). All Revenues, other than amounts retained on-site by each Operating Company as a Gaming Operating Reserve and amounts collected and maintained in Off-Shore Accounts, shall be deposited in the Collection AccountsAccounts (whether by Operating Company or by Manager).