Operating and Reserve Accounts. Borrower shall maintain, and shall use commercially reasonable efforts to cause Facility Lessee to maintain, all Collateral Accounts with Collateral Agent pursuant to the Collateral Account Pledge Agreement.
Operating and Reserve Accounts. The Borrower shall cause the Property Manager to maintain the operating, escrow, reserve and other accounts, if any, for the Premises with the Agent and pledge the same to the Agent as additional security for the Loan.
Operating and Reserve Accounts. Borrower shall maintain all operating and reserve accounts for the Property with Lender, and such accounts shall be, and are hereby, pledged to Lender to secure the Obligations.
Operating and Reserve Accounts. Within ten (10) business days after the Closing, Borrower will open, and during the term of this Loan, Borrower will maintain, all operating and reserve accounts for the Property with Lender, and Borrower hereby grants to Lender a security interest in such accounts to secure the Obligations. Borrower will maintain all operating and reserve accounts for the Property free and clear of any Lien, security interest, encumbrance or restriction, except a security interest in favor of Xxxxxx, Borrower hereby grants to Lender a security interest in such accounts to secure the Obligations, and Borrower will provide to Lender a control agreement and any other assurance requested by Lender to perfect such security interest.
Operating and Reserve Accounts. Borrower shall maintain all operating and reserve accounts for the Mortgaged Property with Administrative Agent, and such accounts, upon the request of Administrative Agent, shall be pledged to Administrative Agent, for the benefit of Lenders, to secure the Obligations.
Operating and Reserve Accounts. Borrower shall maintain the operating and other accounts, if any, for the Property with Lender.
Operating and Reserve Accounts. Agent shall maintain an account or accounts, collectively referred to herein as the Operating and Reserve Account or Rental Agency Account, for the deposit of receipts collected as described herein, in a bank or other institution whose deposits are insured by the Federal Deposit Insurance Corporation ("FDIC"). Such depository shall be selected by the Owner. Funds from the Project in the Operating and Reserve Account shall remain the property of Owner subject to disbursement of expenses by Agent as described in this Agreement. The Operating and Reserve Account shall be interest bearing with interest credited to Owner monthly or promptly after the end of the term of any investment. Owner agrees to provide, to the extent Project funds are available, sufficient funds to maintain at all times a balance in the Operating and Reserve Account in the amount shown on the attached Schedule A, which is incorporated herein and made a part hereof (the "Contingency Reserve"). Owner shall take no distribution of surplus cash at any time that a deficiency exists in the Contingency Reserve. Owner and Agent shall review the amount of the Contingency Reserve from time to time and shall agree in writing on a new Contingency Reserve amount when such is required. Owner shall give Agent advance written notice of at least ten (10) days if Owner, on Owner's initiative, desires Agent to make any additional monthly or recurring payments (such as mortgage indebtedness, general taxes, or special assessments, or fire, steam boiler, or other insurance premiums) out of the proceeds from the Project. If Owner notifies Agent to make such payments after the beginning of the term of this Agreement, Agent shall have the authority to name a new Contingency Reserve amount pursuant to this section of the Agreement, and Owner shall maintain this new Contingency Reserve amount at all times in the Operating and Reserve Account."
