Rental Income Account. (a) The Agent has sole signing rights in relation to the Rental Income Account.
(i) Each Obligor must ensure that:
(A) all Rental Income is; and
(B) any amounts payable to it under the Closing Date Cap and any Extension Cap are, paid into the Rental Income Account.
(ii) Paragraph (b)(i) above shall not apply to Lease Prepayment Proceeds.
(c) If any payment of any amount referred to above is paid into an Account other than the Rental Income Account, that payment must be paid immediately into the Rental Income Account.
(d) On any day on which an amount is due under a Headlease, the Agent shall and is irrevocably authorised by each Obligor to:
(i) withdraw from the Rental Income Account an amount necessary to meet that due amount; and (ii) apply that amount in payment of that due amount.
(e) To the extent that any Rental Income constituting Tenant Contributions is paid into the Rental Income Account, the Agent shall, and is irrevocably authorised by the Borrower to, withdraw all amounts equal to such Tenant Contribution from the Rental Income Account and promptly pay them into the Collections Account.
(f) Except as provided in Clause 33.6 (Partial payments) and paragraph (g) below, on each Interest Payment Date, the Agent shall (and is irrevocably authorised by the Borrower to) withdraw from, and apply amounts then standing to the credit of the Rental Income Account as follows:
(i) first, in or towards payment pro rata of any unpaid amounts owing in respect of all remuneration, liabilities, costs, fees and expenses (including any amount representing VAT chargeable in respect of the same) then due and payable to the Agent, the Arranger and/or the Security Agent under the Finance Documents;
(ii) second, to pay all costs, fees and expenses (including any amount representing VAT chargeable in respect of the same) then due and payable to the Lenders under the Finance Documents;
(iii) third, to pay to the Agent for the account of the Lenders any accrued interest and fees due but unpaid under this Agreement;
(iv) fourth, to pay to the Agent for the account of the Lenders any principal due but unpaid under this Agreement;
(v) fifth, to pay any other sum due but unpaid to the Finance Parties under the Finance Documents;
(vi) sixth, to pay the Ongoing Maintenance Reserve for the quarter expiring on that Interest Payment Date to the Reserves Account;
(vii) seventh, to pay any other sum required to be paid to the Special Reserves Account in accordance with Clause 18.8(b...
Rental Income Account. 9.4.1 On each Interest Payment Date and on the Repayment Date the Bank shall (or the Borrower shall if it has signing rights) withdraw all amounts standing to the credit of the Rental Income Account and apply them in or towards (and if the credit balance is insufficient to pay all those items, in the following order):
(i) firstly, any unpaid costs, fees and expenses due to the Bank under the Finance Documents;
(ii) secondly, all accrued interest, costs, fees, expenses and any other amount (other than the Loan) due and payable to the Bank under the Finance Documents;
(iii) thirdly, if relevant, the Loan to the extent then due and payable to the Bank;
(iv) fourthly, if no Event of Default or Cash Lock-Up Event is continuing, to the General Account. If an Event of Default or Cash Lock-Up Event is continuing, any balance shall remain in the Rental Income Account for further application, in accordance with this Agreement, on the next Interest Payment Date.
Rental Income Account. (a) The Borrower undertakes to the Agent that it will ensure that not less than three Business Days in advance of each Interest Payment Date, there are sufficient funds in the Rental Income Account to pay all monies due to the Finance Parties on the Interest Payment Date.
(b) On each Interest Payment Date, the Agent (and is irrevocably authorised by the Borrower) shall withdraw from the Rental Income Account such amount as it may determine for application in or towards the following items:
(i) first, provided that no Event of Default is continuing or would be caused by such release, any Operating Expenses and VAT;
(ii) second, any interest payable under this Agreement and any unpaid costs, fees and expenses due to the Lenders, the Arranger, the Agent and/or the Security Agent in respect of the Facility under the Finance Documents;
(iii) third, all amounts (including any amount payable as a result of termination or closing out of all or any part of any Hedging Arrangement) due and payable to the Counterparty under the Finance Documents;
(iv) fourth, all amounts payable by the Borrower as scheduled repayments under this Agreement to the Lenders;
(v) fifth, upon the occurrence of the Conversion Effective Date, any remaining balance amount to be paid into the Debt Service Reserve Account until CHF [] in total are accumulated in the Debt Service Reserve Account;
(vi) sixth, upon full accumulation of the Debt Service Reserve Account and upon occurrence of the Conversion Effective Date an amount of CHF [] into the Repair Reserve Account;
(vii) seventh, any payments payable by the Borrower to the Lenders pursuant to Clause 10.1 (Mandatory Prepayments); and
(viii) eigth, if an Event of Default is not continuing, any surplus into the General Account.
