Common use of Maintenance of Dominion Account Clause in Contracts

Maintenance of Dominion Account. Borrowers shall maintain a Dominion Account or Accounts pursuant to lockbox and blocked account arrangements acceptable to Agent with Bank. Borrowers shall issue to Bank an irrevocable letter of instruction directing Bank to deposit all payments or other remittances received in the lockbox and blocked accounts to the Dominion Account for application on account of the Obligations as provided in subsection 3. 2.1. All funds deposited in any Dominion Account shall immediately become the property of Agent, for the ratable benefit of Lenders, and Borrowers shall obtain the agreement by Bank in favor of Agent to waive any recoupment, setoff rights, and any security interest in, or against, the funds so deposited. Agent assumes no responsibility for such lockbox and blocked account arrangements, including, without limitation, any claim of accord and satisfaction or release with respect to deposits accepted by any bank thereunder.

Maintenance of Dominion Account. Borrowers Borrower shall maintain a Dominion Account or Accounts pursuant to a lockbox and blocked account arrangements arrangement acceptable to Agent with Banksuch banks as may be selected by Borrower and be reasonably acceptable to Agent. Borrowers Borrower shall issue to Bank any such banks an irrevocable letter of instruction directing Bank such banks to deposit all payments or other remittances received in the lockbox and blocked accounts to the Dominion Account for application on account of the Obligations as provided in subsection 3. 2.1Obligations. All funds deposited in any the Dominion Account shall immediately become the property of Agent, for the ratable benefit of Lenders, Agent and Borrowers Borrower shall obtain the agreement by Bank such banks in favor of Agent to waive any recoupment, setoff rights, and any security interest in, or against, against the funds so deposited. Agent assumes no responsibility for such lockbox and blocked account arrangementsarrangement, including, without limitation, any claim of accord and satisfaction or release with respect to deposits accepted by any bank thereunder.

Maintenance of Dominion Account. Borrowers shall maintain a ------------------------------- Dominion Account or Dominion Accounts pursuant to lockbox and blocked account arrangements reasonably acceptable to Agent with Bank. Borrowers shall issue to Bank an irrevocable letter of instruction directing Bank to deposit all payments or other remittances received in the lockbox and blocked accounts to the Dominion Account for application on account of the Obligations as provided in subsection 3. 2.1Account. All funds deposited in any Dominion Account shall immediately become the property of Agent, for the benefit of itself and each Lender, the ratable benefit of Lenders, and Borrowers shall obtain the agreement by Bank in favor of Agent to waive any recoupment, setoff rights, and any security interest in, or against, the funds so deposited. Agent assumes no responsibility for such lockbox and blocked account arrangements, including, without limitation, any claim of accord and satisfaction or release with respect to deposits accepted by any bank thereunder.

Maintenance of Dominion Account. Borrowers Borrower shall maintain a Dominion Account or Accounts pursuant to lockbox and blocked account arrangements acceptable to Agent Agent. All of such lockbox and blocked account arrangements will be maintained with Bank. Borrowers Borrower shall issue to Bank any such banks an irrevocable letter of instruction directing Bank such banks to deposit all payments or other remittances received in the lockbox and blocked accounts to the Dominion Account for application on account of the Obligations as provided in subsection 3. 2.1. All funds deposited in any Dominion Account shall immediately become the property funds of Agent, for the ratable benefit of LendersLenders as provided in this Agreement (but only for purposes of application on account of the Obligations or to stand as cash Collateral for the Obligations, each as provided hereunder), and Borrowers Borrower shall obtain the agreement by Bank such banks in favor of Agent to waive any recoupment, setoff rights, and any security interest in, or against, the funds so deposited. Agent assumes no responsibility for such lockbox and blocked account arrangements, including, without limitation, any claim of accord and satisfaction or release with respect to deposits accepted by any bank thereunder.