Common use of Mortgage Cash Management Account Clause in Contracts

Mortgage Cash Management Account. In connection with the Mortgage Loan, Mortgage Borrowers established, and during the term of the Loan, Borrowers shall cause Mortgage Borrowers to maintain, a segregated Eligible Account (the “Mortgage Cash Management Account”) pursuant to the Mortgage Loan Documents to be held by and in trust for the benefit of Mortgage Lender, which Mortgage Cash Management Account is and shall remain under the sole dominion and control of Mortgage Lender. Borrowers shall not cause or permit Mortgage Borrowers in any way to alter or modify the Mortgage Cash Management Account and will notify Lender of the account number thereof. Mortgage Lender shall have the sole right to make withdrawals from the Mortgage Cash Management Account to be applied in accordance with the Mortgage Loan Documents. All costs and expenses for establishing and maintaining the Mortgage Cash Management Account shall be paid by Mortgage Borrowers. So long as the Mortgage Loan is outstanding, on each Payment Date, Borrowers shall cause Mortgage Borrowers to enforce the cash distribution priorities and procedures set forth in Section 2.7.2 of the Mortgage Loan Agreement. Borrowers shall direct or cause Mortgage Borrowers to direct that all cash distributions from the Mortgage Cash Management Account to be paid to Borrowers in accordance with the Mezzanine Cash Management Agreement (including the Net Liquidation Proceeds After Debt Service) be deposited into the Mezzanine Cash Management Account.

Mortgage Cash Management Account. In connection with the Mortgage Loan, Mortgage Borrowers established, and during During the term of the Loan, Borrowers Mortgage Lender shall cause Mortgage Borrowers to maintain, establish and maintain a segregated Eligible Account (the “Mortgage Cash Management Account”) pursuant to the Mortgage Loan Documents to be held by and in trust and for the benefit of Mortgage Lender, which Mortgage Cash Management Account is and shall remain be under the sole dominion and control of Mortgage Lender. Borrowers Borrower shall not cause or permit Mortgage Borrowers Borrower in any way to alter or modify the Mortgage Cash Management Account without the prior written consent of Lender and will notify Lender of the account number thereof. Mortgage Lender shall have the sole right to make withdrawals from the Mortgage Cash Management Account to be applied in accordance with the Mortgage Loan Documents. All costs and expenses for establishing and maintaining the Mortgage Cash Management Account shall be paid by Mortgage BorrowersBorrower. So long as the Mortgage Loan is outstanding, on each Payment Date, Borrowers shall cause Mortgage Borrowers to enforce the cash distribution priorities and procedures set forth in Section 2.7.2 of the Mortgage Loan Agreement. Borrowers shall direct or cause Mortgage Borrowers to direct that all All cash distributions from the Mortgage Cash Management Account to be paid to Borrowers or for the benefit of Lender, in accordance with the Mezzanine Mortgage Cash Management Agreement (including the Net Liquidation Proceeds After Debt Service) shall be deposited into the First Mezzanine Cash Management AccountAccount maintained in accordance with the First Mezzanine Cash Management Agreement. Disbursements from the First Mezzanine Cash Management Account will be made in accordance with the terms and conditions of the First Mezzanine Cash Management Agreement.

Mortgage Cash Management Account. In connection with the Mortgage Loan, Mortgage Borrowers established, and during (a) During the term of the Loan, Borrowers Borrower shall cause Mortgage Borrowers Borrower to maintain, establish and maintain a segregated Eligible Account (the “Mortgage Cash Management Account”) pursuant to the Mortgage Loan Documents to be held by and in trust for the benefit of Mortgage Lender, which Mortgage Cash Management Account is and shall remain be under the sole dominion and control of Mortgage Lender. Borrowers Borrower shall not cause or permit Mortgage Borrowers Borrower in any way to alter or modify the Mortgage Cash Management Account and will notify Lender of the account number thereof. Mortgage Lender shall have the sole right to make withdrawals from the Mortgage Cash Management Account to be applied in accordance with the Mortgage Loan Documents. All costs and expenses for establishing and maintaining the Mortgage Cash Management Account shall be paid by Mortgage BorrowersBorrower. So long as the Mortgage Loan is outstanding, on each Payment Date, Borrowers shall cause Mortgage Borrowers to enforce the cash distribution priorities and procedures set forth in Section 2.7.2 of the Mortgage Loan Agreement. Borrowers Borrower shall direct or cause Mortgage Borrowers Borrower to direct that all cash distributions from the Mortgage Cash Management Account to be paid to Borrowers Mezzanine Lender in accordance with the Mezzanine Cash Management Agreement Mortgage Loan Documents and/or Loan Documents (including the Net Liquidation Proceeds After Debt Service) be deposited into the Mezzanine Cash Management AccountAccount maintained in accordance with the Mezzanine Cash Management Agreement.