LIP Account. The Company shall establish and, until such time as the Servicer is retained, maintain and, thereafter, cause the Servicer to maintain the LIP Account, held in trust for the benefit of the Participant and the Company.
LIP Account. (a) Except as otherwise directed by the Company, the Servicer shall maintain the LIP Account, which shall be held in trust for the benefit of the Company and the Participant and which shall be funded with an initial principal amount equal to the aggregate Maximum Authorized Funding Draw as of the date the LLC Interest is sold (or such later time as is agreed to by the Company and the Participant) (the “LIP Funds”). The Participant and the Company shall, promptly upon the Company’s request therefor, deposit additional amounts into the LIP Account as may be necessary to reflect any adjustment to the Maximum Authorized Funding Draw with respect to any Loan that is permitted under the definition of the term “Maximum Authorized Funding Draw” in Section 1.01 hereof. No funds from any other source (other than interest or earnings on the LIP Funds) shall be commingled in the LIP Account.
LIP Account. (a) Except as otherwise directed by the Company, on or prior to the Servicing Transfer Date, the Servicer shall establish and maintain the LIP Account, which shall be held in trust for the benefit of the Company and the Participant and which shall be funded with an initial principal amount of $4,226,009 (the “LIP Funds”). No funds from any other source (other than interest or earnings on the LIP Funds) shall be commingled in the LIP Account.
