Common use of Maintaining the Collateral Account Clause in Contracts

Maintaining the Collateral Account. Except as otherwise provided by Section 5 and Section 12: (a) So long as the Obligations shall remain unpaid, the Pledgor will maintain the Collateral Account with the Escrow Agent. (b) Except as provided in Section 5 hereof, it shall be a term and condition of the Collateral Account, notwithstanding any term or condition to the contrary in any other agreement relating to the Collateral Account, that no amount (including interest on Collateral Investments) shall be paid or released to or for the account of, or withdrawn by or for the account of, the Pledgor or any other Person from the Collateral Account. (c) The Collateral Account shall be established and maintained as a securities account (as defined in Section 8-501 of the U.C.C.). (d) The Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.

Maintaining the Collateral Account. Except as otherwise provided by the provisions of Section 5 7 and Section 1214 hereof: (a) So long as the Obligations shall remain unpaidoutstanding, the Pledgor will maintain the Collateral Account with the Escrow Agent. (b) Except as provided in Section 5 7 hereof, it shall be a term and condition of the Collateral Account, notwithstanding any term or condition to the contrary in any other agreement relating to the Collateral Account, that no amount (including interest on Collateral Investments) shall be paid or released to or for the account of, or withdrawn by or for the account of, the Pledgor or any other Person from the Collateral Account. (c) The Collateral Account shall be established and maintained as a securities account (as defined in Section 8-501 of the U.C.C.). (d) The Collateral Account shall be subject to such applicable laws, and such applicable regulations of the Board of Governors of the Federal Reserve System and of any other appropriate banking or governmental authority, as may now or hereafter be in effect.