Establishment of Sub-Accounts. The Cash Collateral Account shall contain a Debt Service Payment Sub-Account, a Basic Carrying Costs Sub-Account, a Capital Reserve Sub-Account, a Cash Management Fee Sub-Account, a Hotel Operations Sub-Account, a Deferred Maintenance Sub-Account, an Upfront Remediation Sub-Account and a Mezzanine Debt Service Payment Sub-Account (if applicable), each of which accounts (individually, a “Sub-Account” and collectively, the “Sub-Accounts”) shall be an Eligible Account to which certain funds shall be allocated and from which disbursements shall be made pursuant to the terms of this Loan Agreement.
Establishment of Sub-Accounts. Xxxxxx has established the Central Account in the name of Xxxxxx, as secured party and Xxxxxxxx has established the Rent Account in the joint names of Xxxxxxxx and Lender. The Rent Account and the Central Account shall be under the sole dominion and control of Lender. From and after the occurrence of a Trigger Event, the Rent Account shall be under the control of Lender pursuant to Section 5.01 hereof and Borrower shall have no right of withdrawal from the Rent Account. Borrower hereby irrevocably directs and authorizes Lender to withdraw funds from the Central Account, all in accordance with the terms and conditions of this Security Instrument. Borrower shall have no right of withdrawal in respect of the Central Account or the Rent Account except as specifically provided herein. Each transfer of funds to be made hereunder shall be made only to the extent that funds are on deposit in the Central Account or the affected Sub-Account, and Lender shall have no responsibility to make additional funds available in the event that funds on deposit are insufficient. The Central Account shall contain the Basic Carrying Costs Sub-Account, the Debt Service Payment Sub-Account, the Recurring Replacement Reserve Sub-Account, the Operation and Maintenance Expense Sub-Account and the Mez Payment Sub-Account, each of which accounts shall be Eligible Accounts (each a "Sub-Account" and collectively, the "Sub-Accounts") to which certain funds shall be allocated and from which disbursements shall be made pursuant to the terms of this Security Instrument. In addition, on the date hereof the Central Account shall also contain a Sub-Account entitled the "Engineering Escrow Sub-Account" which initially shall be funded with the Initial Engineering Deposit (representing sums applicable to certain engineering work as set forth on EXHIBIT D, attached hereto and made a part hereof (collectively, "Required Engineering Work")). Disbursements from the Engineering Escrow Sub-Account shall be made in accordance with Section 5.12 hereof.
Establishment of Sub-Accounts. We may divide a Client’s Account into different sub-accounts denominated in different currencies, and references in this Agreement to an Account includes references to all or any such sub-accounts (as the context requires).
Establishment of Sub-Accounts. Each Cash Collateral Account shall contain a Debt Service Payment Sub-Account, a Basic Carrying Costs Sub-Account and a Capital Reserve Sub-Account, each of which accounts (individually, a "Sub-Account" and collectively, the "Sub-Accounts") shall be an Eligible Account to which certain funds shall be allocated and from which disbursements shall be made pursuant to the terms of this Agreement.
Establishment of Sub-Accounts. The Cash Collateral Account ----------------------------- shall contain a Debt Service Payment Sub-Account, a Basic Carrying Costs Sub- Account, a Capital Reserve Sub-Account and an Operating Expense Sub-Account, each of which sub-accounts (i) may be ledger or book entry accounts and need not be actual accounts (individually, a "Sub-Account" and collectively, the "Sub- ----------- --- Accounts") and (ii) shall be an Eligible Account to which certain funds shall be -------- allocated and from which disbursements shall be made pursuant to the terms of this Loan Agreement.
Establishment of Sub-Accounts. The Mezzanine Cash Collateral Account shall contain an Operating Expense Sub-Account, a Mezzanine Debt Service Payment Sub-Account and a Borrowers Sub-Account, each of which accounts (individually, a "Sub-Account" and collectively, the "Sub-Accounts") shall be an Eligible Account to which certain funds shall be allocated and from which disbursements shall be made pursuant to the terms of this Mezzanine Loan Agreement.
Establishment of Sub-Accounts. The Deposit Account shall contain a Debt Service Payment Sub-Account and a Cash Management Fee Sub-Account, each of which accounts (individually, a "Sub-Account" and collectively, the "Sub-Accounts") shall be an Eligible Account to which certain funds shall be allocated and from which disbursements shall be made pursuant to the terms of this Agreement.
Establishment of Sub-Accounts. The Cash Collateral Account shall contain a Ground Rents Sub-Account, a Debt Service Payment Sub-Account, a Basic Carrying Costs Sub- Account, a Capital Reserve Sub-Account, a State of Florida Lease Sub-Account, a Securitization Expense Sub-Account and an Operating Expense Sub-Account, each of which accounts (individually, a "Sub-Account" and collectively, the "Sub- Accounts") shall be an Eligible Account to which certain funds shall be allocated and from which disbursements shall be made pursuant to the terms of this Loan Agreement.
Establishment of Sub-Accounts. The Cash Collateral ----------------------------- Account shall contain a Debt Service Payment Sub-Account, a Basic Carrying Costs Sub-Account, a Capital Reserve Sub-Account, a Mezzanine Debt Service Payment Sub-Account, a Securitization Expense Sub-Account, an Operating Expense Sub- Account, a Trustee Expense Sub-Account, a Construction Sub-Account and a SELCO Payment Sub-Account each of which accounts (individually, a "Sub-Account" and ----------- collectively, the "Sub-Accounts") shall be an Eligible Account to which certain ------------ funds shall be allocated and from which disbursements shall be made pursuant to the terms of this Loan Agreement.
Establishment of Sub-Accounts. The Cash Collateral Account shall contain a Debt Service Payment Sub-Account, a Basic Carrying Costs Sub-Account, a Capital Reserve Sub-Account, a Deferred Maintenance Sub-Account and an Operating Expense Sub-
