Mezzanine Deposit Account Sample Clauses

Mezzanine Deposit Account. 18,42 MEZZANINE LOAN ALLOCATED LOAN AMOUNT.............. 18
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Mezzanine Deposit Account. Section 11.1 Mezzanine Deposit Account..................................... 55 ------------------------- Section 11.2 Disbursements from the Mezzanine Deposit Account; Borrower's ------------------------------------------------------------ Obligation to Fund Deposit Account.......................... 56 ---------------------------------- 11.2.1 Disbursements....................................... 56 ------------- 11.2.2 Obligation to Fund; Deemed Payment.................. 57 ---------------------------------- Section 11.3 No Release if Event of Default Exists......................... 57 ------------------------------------- Section 11.4 Grant of Security Interest; Rights upon Default............... 57 ----------------------------------------------- Section 11.5 Agents and the Lenders Not Responsible........................ 58 -------------------------------------- Schedule A - Commitment Percentage Schedule B - Amortization Schedule EXHIBITS Exhibit A - Form of Promissory Note THIS CREDIT AGREEMENT, dated as of November 25, 1997 (as amended, restated, replaced, supplemented or otherwise modified from time to time, this "Credit Agreement"), is made among MARRIOTT DSM LLC, a Delaware limited ----------------- liability company, as borrower, XXXXXXX XXXXX MORTGAGE COMPANY, a New York limited partnership, in its capacity as agent and any successor agent appointed hereunder ("Agent"); XXXXXXX SACHS MORTGAGE COMPANY, a New York limited ----- partnership, as the lender, and the other Lenders from time to time party hereto. All capitalized terms used herein shall have the respective meanings set forth in Section 1.1 hereof or elsewhere in this Credit Agreement.
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Mezzanine Deposit Account. (a) On or prior to the date ------------------------- hereof, Borrower shall execute and deliver to Agent, a payment direction letter (which payment direction letter shall expressly state that it is irrevocable without the written agreement of Agent), pursuant to which Borrower shall direct Mortgage Lender, that until further written notice (countersigned by Agent) is received by Mortgage Lender from Borrower, any and all amounts that would otherwise be payable to Borrower in accordance with the Cash Management Procedures shall be paid in immediately available funds (or by wire transfer) on each date each such payment would otherwise be payable to Borrower, directly by Mortgage Lender into an Eligible Account designated by Agent on behalf of the Lenders (the "Mezzanine Deposit ---------------- Account") for disbursement pursuant to Section 11.2 hereof. The Mezzanine ------- Deposit Account shall be in the name of and under the sole control of Agent on behalf of the Lenders, and Borrower shall not have the authority or power to make withdrawals from said account. Borrower shall be responsible for the costs of establishing and maintaining the Mezzanine Deposit Account. The same shall not be a "Sub-account" under the Cash Collateral Procedures.
Sample 1
Mezzanine Deposit Account. During the term of the Loan, Lender shall designate an account as the mezzanine deposit account (the "Mezzanine Deposit Account"). Borrower shall direct or cause Mortgage Borrower to direct that all cash distributions from the Cash Management Account to be paid to Lender in accordance with Section 2. 7.2(b) of the Mortgage Loan Agreement be deposited into the Mezzanine Deposit Account. Subject to the Mortgage Loan Documents, to the extent Borrower receives any distributions of Property net cash flow or other cash distributions by Mortgage Borrower which Mortgage Borrower was required to deposit into the Clearing Account, Borrower shall cause the same to be deposited directly into the Mezzanine Deposit Account promptly after receipt (but in no event later than one (1) Business Day after the date received). Borrower shall cause all Net Liquidation Proceeds After Debt Service to be deposited directly into the Mezzanine Deposit Account on the date the same are made.
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Mezzanine Deposit Account. (a) The Cash Management Agreement creates valid and continuing security interests (as defined in the UCC) in the Accounts in favor of Lender, which security interests are prior to all other Liens and are enforceable as such against creditors of and purchasers from Borrower;
Sample 1
Mezzanine Deposit Account. During the term of the Loan, Lender shall designate an account (the “Mezzanine Deposit Account”) for the purposes set forth in this Section 2.7.3. Borrower shall direct or cause Mortgage Borrower to direct that all cash distributions from the Cash Management Account to be paid to Lender in accordance with Section 2.7.2(b) of the Mortgage Loan Agreement be deposited into the Mezzanine Deposit Account. Borrower shall cause all distributions of Property net cash flow or other cash distributions by Mortgage Borrower to its direct or indirect equity owners (including the Net Liquidation Proceeds After Debt Service) to be made to Borrower and deposited directly into the Mezzanine Deposit Account on the date the same are made.
Sample 1

Related to Mezzanine Deposit Account

  • Deposit Account (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and the Certificateholders, the Deposit Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • Security Deposit Account If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.

  • Eligible Deposit Account Either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution with corporate trust powers organized under the laws of the United States or any state thereof, or the District of Columbia, and whose deposits are insured by the Federal Deposit Insurance Corporation, provided that such institution also has a combined capital and surplus of at least $100,000,000 and a rating of A or better from the Thomson Bank Watch.

  • 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;

  • Reserve Account (a) On the Closing Date, the Seller shall deposit the Specified Reserve Balance into the Reserve Account. Amounts held from time to time in the Reserve Account shall be held by the Trust Collateral Agent for the benefit of the Noteholders.

  • Reserve Account Property (i) The Reserve Account and all proceeds thereof (other than the Investment Earnings thereon) including all cash, investments, investment property and other amounts held from time to time in the Reserve Account (whether in the form of deposit accounts, Physical Property, book-entry securities, Uncertificated Securities, Financial Assets or otherwise) and (ii) the Reserve Account Deposit and all proceeds thereof (other than the Investment Earnings thereon).

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

  • Establishment of Deposit Account The Financial Institution hereby confirms and agrees that:

  • Deposit Accounts; Etc (i) Schedule 5 hereto accurately sets forth, as of the date of this Agreement, for each Grantor, each deposit account maintained by such Grantor (including a description thereof and the respective account number) and the name of the respective bank with which such deposit account is maintained. Subject to Section 4(c) hereof and the terms of the Intercreditor Agreement, for each deposit account that is Collateral (other than the Cash Collateral Account or any other deposit account maintained with the Collateral Agent), the respective Grantor shall use commercially reasonable efforts to cause the bank with which the deposit account is maintained to execute and deliver to the Collateral Agent, (x) in the case of an account located at a bank which is a lender under the Senior Credit Facility, within 30 days after the date of this Agreement (or, if later, the date of the establishment of the respective deposit account), or (y) in the case of an account located at a bank which is a not lender under the Senior Credit Facility, within 45 days after the date of this Agreement (or, if later, the date of the establishment of the respective deposit account), a “control agreement” in form and substance consistent with the deposit account control agreements entered into by the Company pursuant to the Senior Credit Facility, or otherwise acceptable to the Collateral Agent. Subject to Section 10(n)(iii) hereof, if any bank with which a deposit account is maintained refuses to, or does not, enter into such a “control agreement”, then the respective Grantor shall promptly (and in any event within 30 days after the date of this Agreement or, if later, 30 days after the establishment of such account) close the respective deposit account and transfer all balances therein to the Cash Collateral Account or another deposit account meeting the requirements of this Section 4(q). If any bank with which a deposit account is maintained refuses to subordinate all its claims with respect to such deposit account to the Collateral Agent’s security interest therein on terms satisfactory to the Collateral Agent, then the Collateral Agent, at its option, may (x) require that such deposit account be terminated in accordance with the immediately preceding sentence or (y) agree to a “control agreement” without such subordination, provided that in such event the Collateral Agent may at any time, at its option, subsequently require that such deposit account be terminated (within 30 days after notice from the Collateral Agent) in accordance with the requirements of the immediately preceding sentence.

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

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