Common use of Establishment of Sub-Accounts Clause in Contracts

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. Xxxxxx Beneficiary has established the Central Cash Collateral Account in the name of Xxxxxx, as secured party Beneficiary and Xxxxxxxx has established the Rent Property Collection Account in the joint names name of Xxxxxxxx Grantor and LenderBeneficiary. The Rent Account and the Central Cash Collateral Account shall be under the sole dominion and control of LenderBeneficiary. From and after the occurrence of a Trigger EventExcept as otherwise provided in this Section 5.02 or Section 5.01 hereof, the Rent Property Collection Account shall be under the sole dominion and control of Lender pursuant to Section 5.01 hereof Beneficiary and Borrower shall have no right of withdrawal from the Rent AccountGrantor. Borrower Grantor hereby irrevocably directs and authorizes Lender Beneficiary to withdraw funds from the Central Property Collection Account, and to deposit into and withdraw funds from the Cash Collateral Account, all in accordance with the terms and conditions of this Security InstrumentDeed of Trust. Borrower Grantor shall have no right of withdrawal in respect of the Central Property Collection Account or the Rent Account except as specifically provided hereinCash Collateral Account. Each transfer of funds to be made hereunder shall be made only to the extent that funds are on deposit in the Central Property Collection Account, the Cash Collateral Account or the affected Sub-Account, and Lender Beneficiary shall have no responsibility to make additional funds available in the event that funds on deposit are insufficient. The Central Cash Collateral Account shall contain the Engineering Escrow Sub-Account, the Basic Carrying Costs Sub-Account, the Debt Service Payment Sub-Account, the Recurring Replacement Capital Expenditure Reserve Sub-Account, the Operation Operations and Maintenance Expense Sub-Account and and, the Mez Payment Curtailment Reserve Fund 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 InstrumentDeed of Trust. In addition, on On the date hereof hereof, Grantor has deposited from the Central Loan Proceeds the Initial Cash Collateral Account Deposit in the Cash Collateral Account, which amount shall also contain a be allocated among the 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 Accounts 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 hereofrequired by Beneficiary.

Establishment of Sub-Accounts. Xxxxxx Beneficiary has established the Central Account in the name of Xxxxxx, as secured party and Xxxxxxxx has established the Rent Account in the joint names name of Xxxxxxxx and LenderBeneficiary. The Rent Central Account and the Central Rent Account shall be under the sole dominion and control of LenderBeneficiary. 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 Grantor hereby irrevocably directs and authorizes Lender Beneficiary to withdraw funds from the Rent Account, and to deposit into and withdraw funds from the Central Account, all in accordance with the terms and conditions of this Security InstrumentDeed of Trust. Borrower Grantor shall have no right of withdrawal in respect of the Central Rent Account or the Rent Account except as specifically provided hereinCentral Account. Each transfer of funds to be made hereunder shall be made only to the extent that funds are on deposit in the Rent Account, the Central Account or the affected Sub-Account, and Lender Beneficiary shall have no responsibility to make additional funds available in the event that funds on deposit are insufficient. The Central Account shall contain the Engineering Escrow Sub-Account, the Basic Carrying Costs Sub-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 Curtailment Reserve Sub-AccountAccount (to the extent applicable), each of which accounts shall be Eligible Accounts (each a "SubSUB-AccountACCOUNT" and collectively, the "SubSUB-AccountsACCOUNTS") to which certain funds shall be allocated and from which disbursements shall be made pursuant to the terms of this Security InstrumentDeed of Trust. On the date hereof, Grantor has deposited from the proceeds of the Loan the Initial Central Account Deposit in the Central Account. In addition, on the date hereof the Central Account shall also contain a Sub-Account entitled the "Engineering Escrow SubENGINEERING ESCROW SUB-AccountACCOUNT" which initially shall be funded with the Initial Engineering Deposit (representing sums the sum applicable to certain engineering work as set forth on EXHIBIT D, attached hereto and made a part hereof (collectively, "Required Engineering WorkREQUIRED ENGINEERING WORK")). Disbursements from the Engineering Escrow Sub-Account shall be made in accordance with Section 5.12 hereof.

Establishment of Sub-Accounts. Xxxxxx Mortgagee has established the Central Account in the name of Xxxxxx, as secured party and Xxxxxxxx has established the Rent Account in the joint names name of Xxxxxxxx and LenderMortgagee. The Rent Central Account and the Central Rent Account shall be under the sole dominion and control of LenderMortgagee. 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 Mxxxxxxxx hereby irrevocably directs and authorizes Lender Mortgagee to withdraw funds from the Rent Account, and to deposit into and withdraw funds from the Central Account, all in accordance with the terms and conditions of this Security InstrumentMortgage. Borrower Mortgagor shall have no right of withdrawal in respect of the Central Rent Account or the Rent Central 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 Rent Account, the Central Account or the affected Sub-Account, and Lender Mortgagee shall have no responsibility to make additional funds available in the event that funds on deposit are insufficient. The Central Account shall contain the Engineering Escrow Sub-Account, the Basic Carrying Costs Sub-Account, the Debt Service Payment Sub-Account, the Recurring Replacement Reserve Sub-Account, and 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 InstrumentMortgage. On the date hereof, Mxxxxxxxx has deposited from the proceeds of the Loan the Initial Central Account Deposit in the Central Account. 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 the sum applicable to certain engineering work as set forth on EXHIBIT 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. Xxxxxx has established the Central Account in the name of Xxxxxx, as secured party and Xxxxxxxx Mortgagee has established the Rent Account in and the joint names of Xxxxxxxx and LenderCentral Account. The Rent Account and the Central Account shall be under the sole dominion and control of LenderMortgagee. 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 Mortgagor shall have no right of withdrawal in respect of the Central Rent Account or the Rent Central 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 Rent Account, the Central Account or the affected Sub-Account, and Lender Mortgagee 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 (to the extent applicable), and the Mez Payment Curtailment Reserve Sub-AccountAccount (to the extent applicable), 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 InstrumentMortgage. In addition, on On the date hereof hereof, Mortgagor has deposited from the proceeds of the Loan the Initial Central Account Deposit in the Central Account. Notwithstanding the foregoing, any Sub-Account which is a separate Eligible Account shall also contain be deemed a Sub-Account entitled of the "Engineering Escrow Sub-Central 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.