Establishment of Disbursement Account. MCLP shall open and operate a separate account for MCAN (the “Disbursement Account”) for the purpose of receiving and disbursing all payments of Mortgage Proceeds as provided in this Agreement.
Establishment of Disbursement Account. On the initial Borrowing Date and on each Borrowing Date thereafter, funds from the Lenders’ Advances shall be deposited into the Disbursement Account by the Funding Agents in accordance with Section 1.02(b).
Establishment of Disbursement Account. Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain at its office at 00 Xxxx 00xx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, as a securities account in the name of Pledgor and under the control of Secured Party, a securities account designated as "Xxxx Las Vegas, Disbursement Account". The Securities Intermediary hereby undertakes to treat Pledgor as the person entitled to exercise the rights that comprise any Financial Asset credited to the Disbursement Account. The Secured Party and the Pledgor agree that this account shall be the "Disbursement Account."
Establishment of Disbursement Account. Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain at its office at Xxx Xxxxxxx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, as an account in the name of Secured Party and under the sole dominion and control of Secured Party, a restricted credit balance account designated as "The Bank of Nova Scotia, as Disbursement Agent under the agreement dated [], Disbursement Account". The Secured Party and the Pledgor agree that this account shall be the "Disbursement Account."
Establishment of Disbursement Account. The Company hereby establishes the following securities account with the Depositary Agent, as Securities Intermediary at its offices at Xxxxxx Square North, 0000 Xxxxx Xxxxxx Xxxxxx, Xxxxxxxxxx, XX 00000 (the "DISBURSEMENT ACCOUNT"), which shall be subject to the terms hereof and maintained at all times until the termination of this Depositary Agreement: Disbursement Account, Account No. 56113-0. All amounts from time to time held in the Disbursement Account (which for purposes of this Agreement shall include all sub-accounts thereof) shall be held in the name of the Company. All such amounts shall be held by the Depositary Agent for the purposes and on the terms set forth in this Depositary Agreement, shall constitute a part of the Collateral and shall not constitute payment of the Obligations until applied as hereinafter provided.
Establishment of Disbursement Account. The Disbursement Agent has established in its own name for the benefit of the Lenders an account (Account No. 702254) (the "Disbursement Account") for purposes of this Agreement, which Disbursement Account is maintained at the Disbursement Agent's office located at Las Vegas, Nevada (Wire transfers: First Security Bank of Nevada, ABA 1224 01668). Subject to the provisions of this Agreement, the Disbursement Account shall be under the sole dominion and control of the Disbursement Agent and, except as expressly set forth in this Agreement, the Disbursement Agent shall have the sole right to cause transfers to be made to, and/or to make withdrawals from, the Disbursement Account and to exercise all rights with respect to the Collateral (as defined below) from time to time therein.
Establishment of Disbursement Account. Concurrently with the execution and delivery of this Agreement, the Disbursement Account shall be established in accordance with the terms of the Security Agreement.
Establishment of Disbursement Account. Upon the occurrence of a Triggering Event, the Collateral Agent promptly shall establish and maintain at its banking office in San Diego, California (or upon notice to the Secured Creditors, such other banking office in California as it may select and notify to each Secured Creditor, so long as its lien is continuously maintained as contemplated herein), a non-interest-bearing segregated deposit account entitled the "Safeskin Intercreditor Disbursement Account" (the "Disbursement Account"). Such account will be held by the Collateral Agent as provided in this Agreement and shall at all times be in the exclusive possession of, and under the control of, the Collateral Agent, as agent for the Secured Creditors. Neither the Company nor any Grantor or Guarantor shall have rights to any such account or to any amounts on deposit therein. The Company hereby grants and assigns to the Collateral Agent, for the benefit of the Secured Creditors, as collateral security for the Outstanding Obligations, all of the Company's residual right, title and interest, if any, in and to the Disbursement Account, all funds from time to time maintained therein, all investments thereof, all interest, dividends and other amounts earned thereon and all proceeds thereof.
Establishment of Disbursement Account. Pledgor and Intercreditor Agent hereby authorize and direct Financial Institution to establish and maintain at its office at Xxx Xxxxxxx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, a Securities Account in the name of LCR, and under the control of Intercreditor Agent, designated as “Account number 03047-17, The Bank of Nova Scotia, as Administrative Agent under the Credit Agreement, dated as of August 20, 2004, Disbursement Account”. Financial Institution hereby undertakes to treat Intercreditor Agent as the Person entitled to exercise the rights that comprise any Financial Asset credited to the Disbursement Account. The Intercreditor Agent and the Pledgor agree that this account shall be the “Disbursement Account.”
Establishment of Disbursement Account. Pledgor and Secured Party hereby authorize and direct Securities Intermediary to establish and maintain at its office at Xxx Xxxxxxx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, as an account in the name of Secured Party, and under the sole dominion and control of Secured Party, a Securities Account designated as "Account number 02849-12, The Bank of Nova Scotia, as Administrative Agent under the Credit Agreement, dated as of June 4, 2002, Disbursement Account". The Secured Party and the Pledgor agree that this account shall be the "DISBURSEMENT ACCOUNT."
