Procedures Governing Accounts. (a) Each Depositary Bank hereby agrees to promptly deposit all amounts to be delivered to or held by such Depositary Bank pursuant to the terms of this Agreement into the Accounts established hereunder. If and to the extent any Depositary Bank is to take any action on any date following receipt of a written instruction from the Servicer, the Calculation Agent, the Collateral Agent or any other Party and does not receive such instruction prior to 12:00 p.m. New York time on such date, such Depositary Bank shall be authorized, but not obligated, to take any action required by the terms of this Agreement (including transferring funds from and between Accounts or to the accounts under the Deposit and Disbursement Agreement) as a result of such Depositary Bank not having received such instruction prior to such time, in each case without any further instruction from any Party. Depositary Bank will use reasonable efforts to comply as soon as practicable with instructions received later than 12:00 p.m. New York time, but shall incur no liability if, having exercised reasonable efforts to act on the instructions, it is not able to do so on such date.
Procedures Governing Accounts. (a) The Depositary Bank hereby agrees to act as such strictly in accordance with the terms of this Agreement, including, without limitation, (i) accepting all amounts and Permitted Investments received or held by the Depositary Bank, (ii) depositing or crediting promptly all such amounts and Permitted Investments received into the Accounts, and (iii) holding and maintaining the Accounts (and the proceeds of Loans, Operating Cash available for Debt Service, Loss Proceeds, Cash, payments, securities, investments and other amounts to the extent such amounts are on deposit therein) during the term of this Agreement in segregated accounts for disbursement.
Procedures Governing Accounts. (a) Each Depositary Bank hereby agrees to promptly deposit all amounts to be delivered to or held by such Depositary Bank pursuant to the terms of this Agreement into the Accounts established hereunder. If and to the extent any Depositary Bank is to take any action on any date following receipt of a written instruction from the Servicer, the Calculation Agent, the Collateral Agent or any other Party and does not receive such instruction prior to 12:00 p.m. New York time on such date, such Depositary Bank shall be authorized, but not obligated, to take any action required by the terms of this Agreement (including, without limitation, transferring funds from and between Accounts or to the accounts under the Deposit and Disbursement Agreement) as a result of such Depositary Bank not having received such instruction prior to such time, in each case without any further instruction from any Party.
Procedures Governing Accounts. (a) The Depositary Bank hereby agrees to act as such and to accept all Monies to be delivered to or held by the Depositary Bank pursuant to the terms of this Agreement and the other Financing Documents, and to promptly deposit all such Monies into the Accounts established hereunder. The Depositary Bank shall hold and safeguard the Accounts during the term of this Agreement and shall treat the Monies, and all rights related thereto, now or hereafter deposited in or credited to the Accounts as "financial assets" (as defined in Section 8-102(a)(9) of the Uniform Commercial Code) pledged by CE Generation and the Assignors to the Collateral Agent for the benefit of the Secured Parties, to be held by the Depositary Bank acting as a "securities intermediary" (as defined in the Uniform Commercial Code).
Procedures Governing Accounts. (a) The Depositary Bank is appointed to act as a depositary bank and agrees to act as such and to accept all Monies to be delivered to or held by the Depositary Bank pursuant to the terms of this Agreement, the Revolving Credit Agreement, the Term Loan Credit Agreement and the other Transaction Documents and to promptly deposit all such Monies into the Accounts established under this Agreement. The Depositary Bank shall hold and safeguard the Accounts (other than the US Disbursement Account and the Canadian Disbursement Account) during the term of this Agreement and shall treat the Monies and any other property, and all rights related to the Monies and such other property, now or hereafter deposited in or credited to the Accounts (other than such property or Monies in the US Disbursement Account or the Canadian Disbursement Account) as “financial assets” (as defined in Section 8-102(a)(9) of the UCC), to be held by the Depositary Bank, acting as a “securities intermediary” (as defined in Section 8-102(a)(14) of the UCC). The Depositary Bank represents and agrees that each Account (other than the US Disbursement Account and the Canadian Disbursement Account) will be maintained, to the extent that financial assets are deposited herein or credited thereto as a “securities account” (as defined in Section 8-501 of the UCC), and, to the extent that credit balances not constituting financial assets are credited thereto, as a “deposit account” (as defined in Section 9-102(a)(29) of the UCC).
Procedures Governing Accounts. (a) The Depositary Bank hereby agrees to accept all Account Property and to promptly deposit or credit all such Account Property into the Accounts established hereunder as directed in writing by the Borrower or the Collateral Agent. The Depositary Bank shall hold the Accounts (and the Revenues, Net Insurance/Condemnation Proceeds, Net Asset Sale Proceeds, Credit Extensions, cash, payments, securities, investments and other amounts on deposit therein) during the term of this Agreement for disbursement as directed by the Borrower or the Collateral Agent, which instructions and disbursement shall be given and made strictly in accordance with the terms hereof.
Procedures Governing Accounts. 2 Section 2.2 ESTABLISHMENT OF U.S. DEPOSITARY ACCOUNTS AND SUB-ACCOUNTS.............................4 Section 2.3
Procedures Governing Accounts. (a) The Depositary Bank hereby agrees to act as such and to accept all cash, payments, other amounts (including any instruments in respect thereof) and Cash Equivalents to be delivered to or held by the Depositary Bank pursuant to the terms of this Agreement, and to promptly deposit all such amounts and Cash Equivalents into the U.S. Depositary Accounts established hereunder in accordance with the terms hereof. The Depositary Bank shall hold and safeguard the U.S. Depositary Accounts during the term of this Agreement and shall treat the cash, payments, other amounts and Cash Equivalents, and all rights related thereto, now or hereafter deposited in or credited to the U.S. Depositary Accounts as "financial assets" (as defined in Section 8-102(a)(9) of the Revised UCC), pledged by Funding Company and the U.S. Guarantors to the Collateral Agent for the benefit of the Secured Parties, to be held by the Depositary Bank, acting as a "securities intermediary" (as defined in the Revised UCC).
Procedures Governing Accounts. 3 2.03 Term of this Agreement..........................................................................5
Procedures Governing Accounts. (a) The Securities Intermediary hereby agrees to accept all Collections, Eligible Investments, Acceptable Letters of Credit and all other cash, payments and other amounts (including instruments evidencing such amounts) delivered to or held by the Securities Intermediary pursuant to the terms of the Transaction Documents (collectively, the "Funds"), and to promptly deposit, at the direction of the Trustee, all such Funds into the Accounts established hereunder. The Securities Intermediary shall hold and safeguard the Accounts and the Funds contained therein during the term of this Agreement.
