Common use of Property Account Clause in Contracts

Property Account. (a) On or prior to the Closing Date, the Property Trustee shall establish the Property Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Property Account for the purpose of making deposits in and withdrawals from the Property Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Property Account shall be held by the Property Trustee in the Property Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

Property Account. (a) On or prior to the Closing Date, the Property Trustee shall establish the Property Account. The Property Trustee and any agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Property Account for the purpose of making deposits in and withdrawals from the Property Account in accordance with this Trust AgreementDeclaration. All monies and other property deposited or held from time to time in the Property Account shall be held by the Property Trustee in the Property Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.

Property Account. (a) On or prior to the Closing Date, the ---------------- Property Trustee shall establish the Property Account. The Property Trustee and any agent Agent of the Property Trustee shall have exclusive control and sole right of withdrawal with respect to the Property Account for the purpose of making deposits in and withdrawals from the Property Account in accordance with this Trust Agreement. All monies and other property deposited or held from time to time in the Property Account shall be held by the Property Trustee in the Property Account for the exclusive benefit of the Securityholders and for distribution as herein provided, including (and subject to) any priority of payments provided for herein.