Common use of Establishment of the Reserve Account Clause in Contracts

Establishment of the Reserve Account. The Reserve Account shall have been established and be subject to an effective DACA Agreement in form and substance reasonably satisfactory to both Agents; provided that, with respect to an Advance made after the Closing Date, any amounts required to be deposited in the Reserve Account pursuant to the Loan Documents shall be so deposited from the proceeds of such Advance.

Establishment of the Reserve Account. The Reserve Account shall have been established and be subject to an effective DACA Agreement in form and substance reasonably satisfactory to both Agents; provided that, with respect to an the Advance made after on the Closing Initial Funding Date, any the amounts required to be deposited in the Reserve Account pursuant to the Loan Documents shall be so deposited from the proceeds of such Advancethe Advance made on the Initial Funding Date.