Establishment of the Accounts Sample Clauses

Establishment of the Accounts. The Servicer shall cause to be established or establish, on or before the Closing Date, and maintained in the name of the Administrative Agent, for the benefit of the Secured Parties, with the Account Bank, (i) the Collection Account and (ii) the Reserve Account, in each case over which the Administrative Agent shall have sole dominion and control and from which neither the Servicer nor the Borrower shall have any right of withdrawal, except as otherwise set forth in the Account Control Agreement. The Borrower will be required to pay all reasonable fees and expenses owing to the Account Bank in connection with the maintenance of the Accounts for its own account and shall not be entitled to any payment therefor. Following the Facility Termination Date, the Account Bank shall terminate the Accounts. To the extent that the Reserve Account or Collection Account is a “securities account” within the meaning of Section 8-501 of the UCC: (i) the Account Bank shall comply with any order or instructions (each, an “Order”) from the Administrative Agent directing transfer or redemption of any financial asset credited to such account without further consent by the Borrower, Regional Management, the Servicer or any other person; (ii) the Account Bank shall treat any investment property, financial assets, securities, instruments, general intangibles or other property credited to any such account as “financial assets” within the meaning of Section 8-102(a)(9) of the UCC; and (iii) securities or financial assets credited to the Reserve Account or the Collection Account, as applicable, shall be registered in the name of the Account Bank, indorsed to the Account Bank or in blank or credited to another securities account maintained in the name of the Account Bank and in no case will any financial asset credited to the Reserve Account or the Collection Account, as applicable, be registered in the name of the Borrower or the Servicer, payable to the order of the Borrower or the Servicer, or specially indorsed to the Borrower or the Servicer, except to the extent the foregoing have been specially indorsed to the Account Bank or in blank. To the extent that the Reserve Account or the Collection Account is a “deposit account” within the meaning of Section 9-102(a)(29) of the UCC, the Account Bank shall comply with any order or instructions (each also, an “Order”) from the Administrative Agent directing disposition of funds in such account without further consent by the Borrower, R...

Establishment of the Accounts. The Securities Intermediary hereby confirms that (i) the Accounts have been established with the Securities Intermediary, (ii) each Account is an account to which financial assets are or may be credited, (iii) the Securities Intermediary shall, subject to the terms of this Agreement and the Indenture, treat the Secured Party as entitled to exercise the rights that comprise any financial asset credited to an Account, (iv) all property delivered to the Securities Intermediary by or on behalf of the Secured Party or the Issuer for deposit to an Account will promptly be credited to such Account and (v) all securities or other property underlying any financial assets credited to an Account shall be registered in the name of the Securities Intermediary, endorsed to the Securities Intermediary or in blank or credited to another securities account maintained in the name of the Securities Intermediary and in no case will any financial asset credited to an Account be registered in the name of the Issuer, payable to the order of the Issuer or specially endorsed to the Issuer except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.

Establishment of the Accounts. (a) Establishment of the Collection Account, Principal Collection Account and Reserve Account. The Servicer shall cause to be established, on or before the Closing Date, and maintained in the name of the Collateral Agent as agent for the Secured Parties, with an office or branch of a depository institution or trust company (i) a segregated corporate trust account entitled “Collection Account for Wellx Xxxgo Bank, National Association, as agent for the Secured Parties” (the “Collection Account”); (ii) a segregated corporate trust account entitled “Principal Collection Account for Wellx Xxxgo Bank, National Association, as agent for the Secured Parties” (the “Principal Collection Account”) and (iii) a segregated corporate trust account entitled “Reserve Account for Wellx Xxxgo Bank, National Association” as agent for the Secured Parties (the “Reserve Account”), in each case, over which the Collateral Agent as agent for the Secured Parties shall have sole dominion and control and from which neither the Originator, the Servicer nor the Borrower shall have any right of withdrawal; provided, however, that at all times such depository institution or trust company shall be a depository institution or trust company organized under the laws of the United States of America or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), (i) (A) that has either (1) a long-term unsecured debt rating of at least investment grade by S&P and Moodx’x xx (2) a short-term unsecured debt rating or certificate of deposit rating of at least investment grade by S&P and Moodx’x, (X) the parent corporation which has either (1) a long-term unsecured debt rating of at least investment grade by S&P and Moodx’x xx (2) a short-term unsecured debt rating or certificate of deposit rating of at least investment grade by S&P and Moodx’x xx (C) that is otherwise acceptable to the Deal Agent and (ii) whose deposits are insured by the Federal Deposit Insurance Corporation (any such depository institution or trust company, a “Qualified Institution”).

Establishment of the Accounts. Within 30 (thirty) days from the date of this Agreement, and in any case prior to the Effective Date, the Contractor shall open and establish the Escrow Account with the ………………………. (name of Branch) Branch of the Escrow Bank. The Escrow Account shall be denominated in Rupees. The Escrow Bank shall maintain the Escrow Account in accordance with the terms of this Agreement and its usual practices and applicable regulations, and pay the maximum rate of interest payable to similar customers on the balance in the said account from time to time.

Establishment of the Accounts. The Collateral and Intercreditor Agent shall establish each Dollar-denominated Account with the Securities Intermediary at such time as such Account shall be required or be desirable pursuant to the terms of this Agreement, and shall notify the Grantors and the Secured Parties upon such establishment and shall direct relevant payments to such Account. Each agreement between the Securities Intermediary and the Collateral and Intercreditor Agent establishing any Account shall be substantially in the form set forth in Exhibit J hereto or in such other form as shall be agreed by the Collateral and Intercreditor Agent and the Securities Intermediary, and shall provide, and each Grantor authorizes such agreement to provide, that (i) such Account is a “securities account” (within the meaning of the UCC) and the Securities Intermediary is acting thereunder as a securities intermediary (within the meaning of the UCC), (ii) the Collateral and Intercreditor Agent shall have exclusive control over each Account and shall be the “entitlement holder” of such Account within the meaning of the UCC, (iii) the Securities Intermediary shall not accept any instruction or entitlement order from any Person other than the Collateral and Intercreditor Agent with respect thereto, (iv) the name of each Account shall include a reference to the Collateral and Intercreditor Agent acting under this Agreement, (v) the Securities Intermediary shall not change the name or account number of any Account without the prior written consent of the Collateral and Intercreditor Agent, (vi) each item of property (whether cash, a security, an instrument or obligation, share, participation, interest or any other property whatsoever) credited to an Account shall be treated as a financial asset (within the meaning of the UCC) and (vii) for the avoidance of doubt, the Securities Intermediary shall promptly comply with all instructions and entitlement orders given by the Collateral and Intercreditor Agent, including, without limitation, with respect to the transfer or withdrawal of financial assets and amounts in any Account, without further consent of any Grantor or any other Person. Any Account established under any other jurisdiction shall be in the name of the Collateral and Intercreditor Agent, under the sole and exclusive control of the Collateral and Intercreditor Agent, and shall otherwise be established in a manner sufficient to provide the Collateral and Intercreditor Agent with a perfected sec...

Establishment of the Accounts. 3.1 The Account Bank confirms that it has opened the transaction account with account number 00000000 (the "Transaction Account") in the name of the Issuer on the terms of this Agreement. 3.2 The Account Bank confirms that it has opened the hedge collateral account with account number 00000000 (the "Hedge Collateral Account") in the name of the Issuer on the terms of this Agreement. 3.3 None of the Accounts may go into overdraft and amounts may only be withdrawn to the extent that such withdrawal would not result in a negative balance on any of the Accounts. 3.4 The Account Bank holds all money forming the Account Amount as banker and not as trustee and as a result such money will not be held in accordance with the Client Money Rules, and, in the event the Account Bank becomes insolvent, the Client Money Distribution Rules will not apply and so the Issuer will not be entitled to share in any distribution under the Client Money Distribution Rules. In particular, the Account Bank shall not segregate the Issuer’s money from that of the Account Bank and the Account Bank shall not be liable to account to the Issuer for any profits made by the Account Bank's use as banker of such funds. (a) The Issuer and PML as Administrator undertake to the Account Bank that they will provide to the Account Bank all documentation and other information required by the Account Bank from time to time to comply with any Applicable Law in relation to the Accounts forthwith upon request by the Account Bank; and (b) Each of the Issuer and PML as Administrator will notify the Account Bank in writing within 30 days of any material change in, or in the validity of, any documentation or other information previously provided to the Account Bank that affects its tax status pursuant to any Applicable Law. 3.5 Each of the Issuer and PML as Administrator undertakes that any Instructions it gives in connection with this Agreement will be given only in accordance with the terms of this Agreement, and, without prejudice to the generality of the foregoing, will, with the exception of SWIFT Instructions and Citi Direct Instructions, be sent to the Account Bank in accordance with Clause 18 (Notices).

Establishment of the Accounts. Each Credit Party that is the owner of a Borrowing Base Asset (each, an “Owner”), shall establish, or cause to be established, one or more Eligible Accounts with respect to its respective Borrowing Base Asset (individually, each a “Property Account”, and collectively, the “Property Accounts”) with one or more Property Account Banks into which such parties shall deposit, or cause to be deposited, all Revenue from such Borrowing Base Asset not already deposited directly into such Property Account. Notwithstanding anything to the contrary set forth herein, the Owners and the Borrower can establish one or more joint Property Accounts (which for clarity may be in the Borrower’s name) into which the Revenue from the Borrowing Base Assets may be deposited and commingled with the Revenue from other Borrowing Base Assets so long as (i) no funds other than Revenues from one or more of the Borrowing Base Assets and other funds of the Owners shall be deposited into such Property Accounts and (ii) the funds deposited are otherwise accounted for in accordance with the Guarantor Subsidiary Requirements. Each Owner shall execute an agreement with the Administrative Agent and the Property Account Bank in each case providing for the control of such Accounts in favor of the Administrative Agent, which agreement shall be in form and substance satisfactory to the Administrative Agent (as Modified, the “Control Agreements”). The Control Agreements shall provide, inter alia, that so long as the Property Account Bank has not received notice from Administrative Agent that a Cash Sweep Event has occurred and a Cash Sweep Period is then continuing, all sums deposited in the Property Accounts may be further disbursed, in accordance with the terms of the Credit Documents, at the direction of the applicable Owner or Borrower. At any time other than during a Cash Sweep Period, the Borrower and each Owner shall be permitted to remit all funds from the Property Accounts to an account(s) (the “General Account”) in which funds from such Property Accounts and other funds of the Parent Guarantor, Borrower and Parent Guarantor’s other Subsidiaries may be commingled. The Borrower and each Owner shall be permitted to pay any liabilities and expenses from such General Account, but agree, in any event, to use sums remitted as provided in the preceding sentence to pay operating expenses arising from or related to any Borrowing Base Asset to the extent not otherwise paid directly by an Owner (or an ...

Establishment of the Accounts. (a) On the date hereof, TransTexas has opened and shall hereafter cause to be maintained with and at the corporate trust department of the Disbursement Agent a custodial account (the "Disbursement Account") under the sole dominion and control of the Trustee, in the name of TransTexas but indicating the lien of the Trustee as assignee. Funds shall be released from the Disbursement Account only in accordance with the provisions of Article IV. (b) TransTexas shall maintain with the Disbursement Agent a segregated sub-account of the Disbursement Account (the "Interest Accumulation Account") under the sole dominion and control of the Trustee, in the name of TransTexas but indicating the lien of the Trustee as assignee. Funds shall be deposited into the Interest Accumulation Account in accordance with Section 3.4 and released therefrom only in accordance with the provisions of Article IV.

Establishment of the Accounts. Lessee Revenue Account) of the Accounts Agreement.

Establishment of the Accounts. The Accounts governed by this Agreement have been established at the Central Account Bank pursuant to Article III of the Indenture. On the Closing Date, the Indenture Trustee shall deliver notice to the Lock Box Bank in accordance with Section 2 of the Deposit Account Control Agreement of the Indenture Trustee’s exercise of control of the Lock Box Account.