Lender Account. (a) If, notwithstanding the instructions to debtors to make payments to the Lockbox, LPC and EMI receives any payments on Receivables, they shall deposit such payments into the Lender Account. Until so deposited, LPC and EMI shall hold all such payments in trust for and as the property of the Lender and shall not commingle such payments with any of its other funds or property.
(b) Amounts deposited in the Lender Account shall not bear interest and shall not be subject to withdrawal by either LPC or EMI, except after full payment and discharge of all Obligations.
(c) All deposits in the Lender Account shall constitute proceeds of Collateral and shall not constitute payment of the Obligations. The Lender from time to time at its discretion may, after allowing one (1) collection day for Xxxxx Fargo Bank, N.A. and one (1) Banking Day for Lender, apply deposited funds in the Lender Account to the payment of the Obligations, in any order or manner of application satisfactory to the Lender, by transferring such funds to the Lender's general account.
(d) All items deposited in the Lender Account shall be subject to final payment. If any such item is returned uncollected, LPC and EMI will immediately pay the Lender, or, for items deposited in the Lender Account, the bank maintaining such account, the amount of that item, or such bank at its discretion may charge any uncollected item to the Borrower's commercial account or other account. LPC and EMI shall be liable as an endorser on all items deposited in the Lender Account, whether or not in fact endorsed by the Borrower.
Lender Account. (a) If an Event of Default shall have occurred and be continuing, (i) Lender shall be entitled (in addition to any other right it may have in respect of such Event of Default under any Loan Document or applicable law), immediately and without notice to Pledgor, to cause Underlying Borrower to make payments to a Lender Account, (ii) Pledgor shall, promptly upon request by Lender, cause [Servicer] immediately to remit all amounts then on deposit in the Borrower Collection Account to a Lender Account and cause each other depository institution at which a Borrower Account is established to remit all amounts then on deposit in such account to a Lender Account and (iii) Lender shall immediately be entitled to transfer or cause to be transferred to a Lender Account any and all amounts on deposit in each Borrower Account. In addition, if an Event of Default shall have occurred and be continuing, all Collections, amounts and proceeds (including instruments) received by Pledgor in respect of the Mortgage Loan or the Mortgaged Property shall be received in trust for the ratable benefit of Lender.
Lender Account. Borrower shall, at all times, maintain with Lender its primary operating and depository account including cash management accounts.
Lender Account. (a) The Funding Agent maintains, and shall continue until the Final Payout Date to maintain, a segregated account in the name of the Lender into which payments to the Lender and other amounts (including Collections) shall be deposited as and to the extent required by this Clause 2.8 (the “Lender Account”). The Lender has exclusive dominion and control over the Lender Account and all monies, instruments and other property from time to time in the Lender Account.
(b) Notwithstanding anything in this Agreement to the contrary, at any time an Event of Default is continuing, the Purchaser shall, and shall require the Servicer, upon the request of the Lender (or the Funding Agent on the Lender’s behalf) to the Purchaser (with a copy to the Servicer), within two Business Days after receipt of any Collections received by the Purchaser or the Servicer, including any Collections received or deposited into a Blocked Account, remit such Collections or cause such Collections to be remitted to the Lender Account.
(c) Funds on deposit in any Lender Account may be invested by the Funding Agent in Eligible Investments that will mature so that such funds will be available so as to permit the amounts in each Lender Account to be paid and applied on the next Settlement Date and otherwise in accordance with the provisions of Clause 2.3 and with the provisions of the Servicing Agreement; provided that such funds shall not reduce the Net Advances or accrued Interest under this Agreement until so applied under Clause 2.3 and Clause 2.4.
(d) On each Settlement Date, all interest and earnings (net of losses and investment expenses) on funds on deposit in the Lender Account shall be applied as Collections in accordance with the Servicing Agreement.
(e) On the Final Payout Date, any funds remaining on deposit in the Lender Account shall be paid to the Purchaser.
Lender Account. On or prior to the Closing Date, the Lender Account shall have been established and such account shall remain open and active on the Closing Date.
Lender Account. (a) The Funding Agent may maintain until the Final Payout Date a segregated account in the name of the Lender with a bank agreed by the Lender into which payments to the Lender and other amounts (including Collections) shall be deposited as and to the extent required by this Clause 2.9 (the Lender Account). The Lender shall have exclusive dominion and control over the Lender Account and all monies, instruments and other property from time to time in the Lender Account.
(b) Notwithstanding anything in this Agreement to the contrary, at any time an Event of Default is continuing, the Purchaser shall, and shall require the Servicer, upon the request of the Lender (or the Funding Agent on the Lender’s behalf) to the Purchaser (with a copy to the Servicer), within two Business Days after receipt of any 5 DeltaView comparison of iManageDeskSite://LONDON/Legal/1326096/9 and iManageDeskSite://LONDON/Legal/1326096/33. Performed on 17/12/2007. Collections received by the Purchaser or the Servicer, including any Collections received or deposited into a Purchaser Account, remit such Collections or cause such Collections to be remitted to the Lender Account.
(c) Funds on deposit in any Lender Account may be invested by the Funding Agent in Eligible Investments that will mature so that such funds will be available so as to permit the amounts in each Lender Account to be paid and applied on the next Monthly Settlement Date and otherwise in accordance with the provisions of Clause 2.3 (
Lender Account. The Lender shall maintain an account showing the amounts advanced by the Lender and all other sums owing to the Lender from the Borrower and any other Security Party under the Finance Documents and all payments in respect of those amounts made by the Borrower and any other Security Party.
Lender Account. Borrower and each Guarantor shall, at all times, maintain with Lender its primary operating and depository account including cash management accounts.
Lender Account. 39 12.13 TIME OF THE ESSENCE................................................39 12.14
Lender Account. Unless the Lender otherwise notify the Borrower in writing, all payments to be made by the Borrower to the Lender pursuant to this Agreement or any other Credit Document shall be made by wire transfer into the following account (the "Lender Account") of the Lender: Bank: Merrill Lynch Bank USA Account #: 00000 ABA: 124084669 Attn: MLMCI - E-LOAX Xxxx Xxnd One, LLC
