Letter of Credit Collateral Account. The Borrower hereby agrees that it will immediately upon the request of the Administrative Agent, establish a special collateral account (the “Letter of Credit Collateral Account”) at the Administrative Agent’s office at the address specified pursuant to Article XIII, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a Default on account of any outstanding Facility Letters of Credit as described in Section 8.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 hereof.
Appears in 9 contracts
Samples: Credit Agreement (Inland Real Estate Corp), Credit Agreement (Inland Diversified Real Estate Trust, Inc.), Credit Agreement (Inland Real Estate Corp)
Letter of Credit Collateral Account. The Borrower hereby agrees that it will immediately upon the request of the Administrative Agent, establish a special collateral account (the “Letter of Credit Collateral Account”) at the Administrative Agent’s office at the address specified pursuant to Article XIII, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Revolving Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a Default on account of any outstanding Facility Letters of Credit as described in Section 8.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Revolving Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Revolving Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 hereof.
Appears in 5 contracts
Samples: Senior Credit Agreement (Terreno Realty Corp), Senior Credit Agreement (Terreno Realty Corp), Senior Credit Agreement (Terreno Realty Corp)
Letter of Credit Collateral Account. The Borrower hereby agrees that it will immediately upon will, until the request of the Administrative AgentMaturity Date, establish maintain a special collateral account (the “"Letter of Credit Collateral Account”") at the Administrative Agent’s 's office at the address specified pursuant to Article XIIIXV, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.111.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a an Event of Default on account of any outstanding Facility Letters of Credit as described in Section 8.111.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 11.1 hereof.
Appears in 4 contracts
Samples: Assignment Agreement (Equity Inns Inc), Secured Revolving Credit Agreement (Equity Inns Inc), Secured Revolving Credit Agreement (Equity Inns Inc)
Letter of Credit Collateral Account. The Borrower hereby agrees that it will immediately upon the request occurrence of the Administrative AgentDefault, establish a special collateral account (the “"Letter of Credit Collateral Account”") at the Administrative Agent’s 's office at the address specified pursuant to Article XIII, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a Default on account of any outstanding Facility Letters of Credit as described in Section 8.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 hereof.
Appears in 2 contracts
Samples: Credit Agreement (Glimcher Realty Trust), Credit Agreement (Glimcher Realty Trust)
Letter of Credit Collateral Account. The Borrower Xxxxxxxx hereby agrees that it will immediately upon the request of the Administrative Agent, establish a special collateral account (the “Letter of Credit Collateral Account”) at the Administrative Agent’s office at the address specified pursuant to Article XIII, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Revolving Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a Default on account of any outstanding Facility Letters of Credit as described in Section 8.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Revolving Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Revolving Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 hereof.
Appears in 2 contracts
Samples: Senior Credit Agreement (Terreno Realty Corp), Senior Credit Agreement (Terreno Realty Corp)
Letter of Credit Collateral Account. The Borrower hereby agrees that it will immediately upon the request of the Administrative Agent, establish a special collateral account (the “Letter of Credit Collateral Account”) at the Administrative Agent’s office at the address specified pursuant to Article XIII, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a Default on account of any outstanding Facility Letters of Credit as described in Section 8.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 hereof.
Appears in 2 contracts
Samples: Senior Revolving Credit Agreement (Terreno Realty Corp), Senior Revolving Credit Agreement (Terreno Realty Corp)
Letter of Credit Collateral Account. The Borrower hereby agrees that it will immediately upon the request occurrence of the Administrative Agenta Default, establish a special collateral account (the “Letter of Credit Collateral Account”) at the Administrative Agent’s office at the address specified pursuant to Article XIII, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a Default on account of any outstanding Facility Letters of Credit as described in Section 8.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 hereof.
Appears in 1 contract
Letter of Credit Collateral Account. The Borrower hereby agrees that it will immediately upon will, until the request of the Administrative AgentMaturity Date, establish maintain a special collateral account (the “"Letter of Credit Collateral Account”") at the Administrative Agent’s 's office at the address specified pursuant to Article XIIIXV, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.1Sectio 11.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a an Event of Default on account of any outstanding Facility Letters of Credit as described in Section 8.111.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 11.1 hereof.
Appears in 1 contract
Letter of Credit Collateral Account. The Borrower Borrowers hereby agrees agree that it will immediately upon the request of the Administrative Agent, establish a special collateral account (the “"Letter of Credit Collateral Account”") at the Administrative Agent’s 's office at the address specified pursuant to Article XIII, in the name of the Borrower Borrowers but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower Borrowers shall have no interest other than as set forth in Section 8.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is Borrowers are required to make after a Default on account of any outstanding Facility Letters of Credit as described in Section 8.1. In addition to the foregoing, the Borrower Borrowers hereby grants grant to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon, and, if requested by the Administrative Agent, agree to execute any documentation requested by the Administrative Agent to perfect such security interest. The Lenders acknowledge and agree that the Borrower has Borrowers have no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 hereof.. ARTICLE
Appears in 1 contract
Samples: Credit Agreement (Inland Retail Real Estate Trust Inc)
Letter of Credit Collateral Account. The Borrower hereby agrees that it will immediately upon the request occurrence of the Administrative AgentDefault, establish a special collateral account (the “"Letter of Credit Collateral Account”") at the Administrative Agent’s 's office at the address specified pursuant to Article XIIIXIV, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.19.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a Default on account of any outstanding Facility Letters of Credit as described in Section 8.19.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 9.1 hereof.
Appears in 1 contract
Letter of Credit Collateral Account. The Borrower hereby agrees that it will immediately upon will, until the request of the Administrative AgentMaturity Date, establish maintain a special collateral account (the “Letter of Credit Collateral Account”) at the Administrative Agent’s office at the address specified pursuant to Article XIIIXV, in the name of the Borrower but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower shall have no interest other than as set forth in Section 8.111.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is required to make after a an Event of Default on account of any outstanding Facility Letters of Credit as described in Section 8.111.1. In addition to the foregoing, the Borrower hereby grants to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon. The Lenders acknowledge and agree that the Borrower has no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 11.1 hereof. Article IV.
Appears in 1 contract
Samples: Unsecured Revolving Credit Agreement (Equity Inns Inc)
Letter of Credit Collateral Account. The Borrower Borrowers hereby agrees agree that it will immediately upon the request of the Administrative Agent, establish a special collateral account (the “Letter of Credit Collateral Account”) at the Administrative Agent’s office at the address specified pursuant to Article XIII, in the name of the Borrower Borrowers but under the sole dominion and control of the Administrative Agent, for the benefit of the Lenders, and in which the Borrower Borrowers shall have no interest other than as set forth in Section 8.1. The Letter of Credit Collateral Account shall hold the deposits the Borrower is Borrowers are required to make after a Default on account of any outstanding Facility Letters of Credit as described in Section 8.1. In addition to the foregoing, the Borrower Borrowers hereby grants grant to the Administrative Agent, for the benefit of the Lenders, a security interest in and to the Letter of Credit Collateral Account and any funds that may hereafter be on deposit in such account, including income earned thereon, and, if requested by the Administrative Agent, agree to execute any documentation requested by the Administrative Agent to perfect such security interest. The Lenders acknowledge and agree that the Borrower has Borrowers have no obligation to fund the Letter of Credit Collateral Account unless and until so required under Section 8.1 hereof.
Appears in 1 contract
Samples: Credit Agreement (Inland Retail Real Estate Trust Inc)