Mezzanine Cash Management Account Sample Clauses

Mezzanine Cash Management Account. (a) This Agreement, together with the other Loan Documents, creates a valid and continuing security interest (as defined in the Uniform Commercial Code of the State of New York) in the Mezzanine Cash Management Account in favor of Lender, which security interest is prior to all other Liens and is enforceable as such against creditors of and purchasers from Borrowers. Other than in connection with the Loan Documents, neither Borrower has sold or otherwise conveyed the Mezzanine Cash Management Account.
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Mezzanine Cash Management Account. (a) During the term of the Loan, Borrowers shall establish and maintain a segregated Eligible Account (the “Mezzanine Cash Management Account”) to be held in trust for the benefit of Lender, which Mezzanine Cash Management Account shall be under the sole dominion and control of Lender. The Mezzanine Cash Management Account shall be entitled “Xxxxxxx Properties – Gas Tower Project – Mezzanine, for the benefit of Nomura Credit & Capital, Inc., its successors and assigns, as Lender, pursuant to Mezzanine Loan Agreement dated as of ______ ___ , 200 __ Mezzanine Cash Management Account”. Borrowers (i) hereby grant to Lender a first priority security interest in the Mezzanine Cash Management Account and all deposits at any time contained therein and the proceeds thereof, and (ii) will take all actions necessary to maintain in favor of Lender a perfected first priority security interest in the Mezzanine Cash Management Account, including, without limitation, executing and filing UCC 1 financing statements and continuations thereof. Borrowers will not in any way alter or modify the Mezzanine Cash Management Account, will not further pledge, assign, encumber or grant a security interest in its interest in the Mezzanine Cash Management Account and will notify Lender of the account number thereof. Lender and Servicer shall have the sole right to make withdrawals from the Mezzanine Cash Management Account and all costs and expenses for establishing and maintaining the Mezzanine Cash Management Account shall be paid by Borrowers.
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Mezzanine Cash Management Account. (c) Borrower acknowledges and confirms that Borrower has established, and Borrower covenants that it shall maintain, a separate Eligible Account bearing account number 151203678918 and held at Cash Management Bank (wiring instructions: US Bank, N.A., ABA # 000000000, Account Name: HH Mezz Borrower A-3 LLC pledged Cash Management Account, et al) (such account, the sub-accounts thereof, all funds at any time on deposit therein and any proceeds, replacements or substitutions of such account or funds therein, are referred to herein as the “Mezzanine Cash Management Account”) to be held and disbursed in accordance with this Agreement. Subject to Section 5.31, from and after the date hereof, Borrower shall cause all distributions from Xxxxx Fargo Mortgage Loan Borrower and Maryland Owner to be, and shall cause Xxxxx Fargo Mortgage Loan Borrower and Maryland Owner to direct any funds due to Xxxxx Fargo Mortgage Loan Borrower and Maryland Owner from Xxxxx Fargo Mortgage Loan Lender and/or the applicable Manager to be, deposited in the Mezzanine Cash Management Account, either directly or from any cash management or similar account maintained under the applicable Mortgage Loan Documents, including, from the applicable Mortgage Loan Cash Management Account or Additional Payments Reserve Account pursuant to the terms of Section 10.2(b) and Section 9.10 of the Xxxxx Fargo Mortgage Loan Agreement. In addition, and subject to Section 5.31, Borrower shall cause all distributions from any CIGNA Mortgage Loan Borrower to be, and shall cause CIGNA Mortgage Loan Borrower to direct any funds due to CIGNA Mortgage Loan Borrower from CIGNA Mortgage Loan Lender and/or the applicable Manager to be, delivered directly to the Mezzanine Cash Management Account (to the extent not prohibited under the CIGNA Mortgage Loan Documents).
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Mezzanine Cash Management Account. Mezzanine Collection Account.
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Related to Mezzanine Cash Management Account

  • Cash Management Account Borrower hereby represents and warrants to Lender that:

  • Management Accounts The Management Accounts:

  • Cash Management (a) Borrowers shall (i) establish and maintain cash management services of a type and on terms satisfactory to Agent at one or more of the banks set forth on Schedule 2.7(a) (each a "Cash Management Bank"), and shall request in writing and otherwise take such reasonable steps to ensure that all of its Account Debtors forward payment of the amounts owed by them directly to such Cash Management Bank, and (ii) deposit or cause to be deposited promptly, and in any event no later than the first Business Day after the date of receipt thereof, all Collections (including those sent directly by Account Debtors to a Cash Management Bank) into a bank account in Agent's name (a "Cash Management Account") at one of the Cash Management Banks.

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Swing Loans Under Cash Management Agreements In addition to making Swing Loans pursuant to the foregoing provisions of Section 2.5.3 [Making Swing Loans], without the requirement for a specific request from the Borrower pursuant to Section 2.4.2 [Swing Loan Requests], PNC as the Swing Loan Lender may make Swing Loans to the Borrower in accordance with the provisions of the agreements between the Borrower and such Swing Loan Lender relating to the Borrower’s deposit, sweep and other accounts at such Swing Loan Lender and related arrangements and agreements regarding the management and investment of the Borrower’s cash assets as in effect from time to time (the “Cash Management Agreements”) to the extent of the daily aggregate net negative balance in the Borrower’s accounts which are subject to the provisions of the Cash Management Agreements. Swing Loans made pursuant to this Section 2.5.6 in accordance with the provisions of the Cash Management Agreements shall (i) be subject to the limitations as to aggregate amount set forth in Section 2.1.2 [Swing Loan Commitment], (ii) not be subject to the limitations as to individual amount set forth in Section 2.4.2 [Swing Loan Requests], (iii) be payable by the Borrower, both as to principal and interest, at the rates and times set forth in the Cash Management Agreements (but in no event later than the Expiration Date), (iv) not be made at any time after such Swing Loan Lender has received written notice of the occurrence of an Event of Default and so long as such shall continue to exist, or, unless consented to by the Required Lenders, a Potential Default and so long as such shall continue to exist, (v) if not repaid by the Borrower in accordance with the provisions of the Cash Management Agreements, be subject to each Lender’s obligation pursuant to Section 2.5.5 [Borrowings to Repay Swing Loans], and (vi) except as provided in the foregoing subsections (i) through (v), be subject to all of the terms and conditions of this Section 2.

  • Cash Management System Each Borrower shall, and shall cause its Subsidiaries to, establish and maintain the Cash Management Systems described below:

  • Cash Management Agreement 11 SECTION 7 – TAXES, REPORTS AND RECORDS............................................................ 11

  • Payments Received Under the Cash Management Agreement Notwithstanding anything to the contrary contained in this Agreement or the other Loan Documents, and provided no Event of Default has occurred and is continuing, Borrower’s obligations with respect to the payment of the Monthly Debt Service Payment Amount and amounts required to be deposited into the Reserve Funds, if any, shall be deemed satisfied to the extent sufficient amounts are deposited in the Cash Management Account to satisfy such obligations pursuant to this Agreement on the dates each such payment is required, regardless of whether any of such amounts are so applied by Lender.

  • Sweep or Automated Cash Management Upon receipt of Instructions, the Custodian shall invest any otherwise uninvested cash of any Fund held by the Custodian in a money market mutual fund, a cash deposit product, or other cash investment vehicle made available by the Custodian from time to time, in accordance with the directions contained in such Instructions. A fee may be charged or a spread may be received by the Custodian for investing the Fund’s otherwise uninvested cash in the available cash investment vehicles or products. The Custodian shall have no responsibility to determine whether any purchases of money market mutual fund shares or any other cash investment vehicle or cash deposit product by or on behalf of the Fund under the terms of this section will cause any Fund to exceed the limitations contained in the 1940 Act on ownership of shares of another registered investment company or any other asset or portfolio restrictions or limitations contained in applicable laws or regulations or the Fund’s prospectus. The Fund agrees to indemnify and hold harmless the Custodian from all losses, damages and expenses (including attorney’s fees) suffered or incurred by the Custodian as a result of a violation by such Fund of the limitations on ownership of shares of another registered investment company or any other cash investment vehicle or cash deposit product.

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