Common use of Mezzanine Cash Management Account Clause in Contracts

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. (b) The Mezzanine Cash Management Account constitutes a “deposit account” within the meaning of the Uniform Commercial Code of the State of New York and the State of California. (c) The Mezzanine Cash Management Account is in the name of Borrowers, as pledgors, and Lender, as pledgee.

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 BorrowersBorrower. Other than in connection with the Loan Documents, neither Borrower has not sold or otherwise conveyed the Mezzanine Cash Management Account. (b) The Mezzanine Cash Management Account constitutes a “deposit account” within the meaning of the Uniform Commercial Code of the State of New York and the State of CaliforniaYork. (c) The Mezzanine Cash Management Account is in the name of BorrowersBorrower, as pledgorspledgor, and or Lender, as pledgee.