Note Proceeds Accounts Sample Clauses

Note Proceeds Accounts. 2.1.1 On or prior to the Issue Date, the Company shall cause to be established with the Note Disbursement Agent a Dollar-denominated deposit account in Macau in the name of the Company, designated the “Note Proceeds Account” with the account number set forth in Exhibit C hereto and may thereafter open further term deposit accounts with the Note Disbursement Agent bearing the same designation, with any such further term deposit accounts opened prior to the Issue Date having the account number set forth in Exhibit C (together, the “Note Proceeds Accounts”). The Note Proceeds Accounts shall be used to hold the Note Deposit Amount as set forth in Section 2.1.2 and the Collateral Agent shall have a perfected security interest in each Note Proceeds Account, the Note Deposit Amount and any Other Amounts on deposit in each such account on an exclusive basis for the benefit of the Trustee and the holders of the Notes pursuant to the Security Document. The Company shall maintain the Note Proceeds Accounts until they may be closed pursuant to the terms of the Security Document. 2.1.2 The Note Proceeds Accounts shall be used for depositing the Note Deposit Amount released from the Escrow Account in accordance with the terms of the Escrow Agreement on the Signing Date. Neither the Company nor the Borrower shall have any rights to withdraw any amounts from the Note Proceeds Accounts (other than to transfer funds between Note Proceeds Accounts) or to require any amounts to be transferred from the Note Proceeds Accounts to the Note Disbursement Accounts or the Revenue Account otherwise than in accordance with this Agreement. Accrued interest earned on any amounts in the Note Proceeds Accounts shall be credited to, and remain in, the Note Proceeds Accounts and can be transferred among Note Proceeds Accounts and otherwise applied like other Note Proceeds Account balances in accordance with this Agreement. Amounts on deposit in the Note Proceeds Accounts shall, subject to Sections 3.1, 3.2 and 3.3 hereof, be disbursed by the Note Disbursement Agent for deposit into the Note Disbursement Accounts established pursuant to Section 2.2 to the extent necessary to pay (or, as the case may be, reimburse or refinance) Project Costs, provided that no Special Mandatory Note Proceeds Redemption Event has occurred as described in Section 3.3 hereof. 2.1.3 On the Opening Date, any amounts standing to the credit of the Note Proceeds Accounts shall be transferred by the Note Disbursement Ag...