Security Deposit Account. If applicable law or a Lender requires a segregated account of Tenant security deposits, Property Manager will open a separate account at a reputable bank or other financial institution. Property Manager may return such deposits to any Tenant in the ordinary course of business in accordance with the terms of the applicable Lease.
Security Deposit Account. A trust account for the benefit of Owner established by Owner and maintained in an FDIC insured bank to hold tenant security deposits.
Security Deposit Account. If required by Owner or law, tenant security deposits will be deposited by Pinnacle in a separate interest-bearing account established in the name of Owner and at a financial institution approved by Owner. Except to the extent prohibited by law or tenants' leases, all interest earned on this account will be distributed to Owner on a monthly basis. Pinnacle agrees to handle all tenant security deposits in accordance with all applicable laws and regulations and in compliance with the leases of the Project.
Security Deposit Account. Subject to the further provisions of this Section 3.01(a), the Trustee shall, upon receipt or upon transfer from another account, as the case may be, deposit into such accounts all amounts received by it which are required to be deposited therein in accordance with the provisions of this Indenture. All such amounts and all investments made with such amounts, including all income and other gain from such investments, shall be held by the Trustee in such accounts as part of the Asset Pool as herein provided, subject to withdrawal by the Trustee in accordance with, and for the purposes specified in the provisions of, this Indenture.
Security Deposit Account. (a) On or before the date hereof, the Borrower shall enter into a Security Deposit Account Agreement and open and maintain a segregated trust account (the “Security Deposit Account”) at the Lender’s Bank, for the receipt of amounts representing any Security Deposits with respect to any Pool A Contract by the related Obligor. The Servicer shall promptly deposit into the Security Deposit Account, all Security Deposits related to Pledged Pool A Receivables which are in the possession of, or come into the possession of, the Servicer or the Originator. Monies received in the Security Deposit Account shall be invested in Permitted Investments at the written direction of the Servicer or the Lender (as determined in accordance with the Security Deposit Account Agreement) during the term of this Agreement, and any income or other gain realized from such investment shall be held in the Security Deposit Account, subject to disbursement and withdrawal as herein provided. No such Permitted Investment shall mature later than the Business Day preceding the next following Remittance Date and shall not be sold or disposed of prior to its maturity. Monies shall be subject to withdrawal in accordance with Section 2.05(d) hereof.
(b) The Servicer shall provide to the Borrower monthly written confirmation of investments of funds held in the Security Deposit Account, describing the Permitted Investments in which such amounts have been invested. Any funds not so invested shall be insured by the Federal Deposit Insurance Corporation.
(c) If any amounts invested as provided in Section 2.05(a) hereof shall be subject to disbursement from the Security Deposit Account as set forth in Section 2.05(d) hereof, the Servicer shall cause such investments of such Security Deposit Account to be sold or otherwise converted to cash to the credit of such Security Deposit Account. The Servicer shall not be liable for any investment loss resulting from investment of money in the Security Deposit Account in any Permitted Investment in accordance with the terms hereof (other than in its capacity as obligor under any Permitted Investment and other than to the extent such loss results from the gross negligence or wilful misconduct of the Servicer).
(d) Disbursements from the Security Deposit Account shall be made, to the extent funds therefore are available, only as follows (and with the prior written consent of the Collateral Agent in the case of clause (i) below; provided, however, that if the Lend...
Security Deposit Account. Manager shall comply with all applicable laws with respect to security deposits paid by tenants. All security deposit funds held by Manager shall at all times be the property of Owner, subject to all applicable laws with respect thereto. Upon commencement of this Agreement, the Owner authorizes the Manager to make withdrawals therefrom for the purpose of returning them as required by the lease or by existing law.
Security Deposit Account. Agent shall, if required by law, maintain a separate interest-bearing account for tenant security deposits and advance rentals. Such account shall be maintained in accordance with applicable state or local laws, if any.
Security Deposit Account. All security deposits received by Manager shall be deposited on the date received into the Operating Account. No interest shall be paid to any tenant with respect to any security deposit unless required by the lease terms or by state or local law, and then only to the extent required by law. Any required payments of security deposits shall be made from the Disbursement Account referenced in Section 2.8(b) above. If a separate, segregated security deposit account (the "Security Deposit Account") is required, deposits will be made initially into the Operating Account, refunds will be made from the Disbursement Account, and the Security Deposit Account will be adjusted up or down once each month to the proper book balance. This adjustment will be via check drawn on the Security Deposit Account and deposited into the Operating Account or via check drawn on the Disbursement Account and deposited into the Security Deposit Account. All funds in the Security Deposit Account shall be deposited, maintained, paid out as provided herein and in compliance with all applicable law and in accordance with the terms of any lease agreement. Attached hereto and incorporated herein as Exhibit C is a complete schedule of all security deposits for tenants in place at the commencement of this Agreement.
Security Deposit Account. Any cash security deposits received from time to time from any Lessee or pursuant to any Purchase Agreement (other than any cash security deposit required to be Segregated Funds, which shall be deposited in the related Lessee Funded Account) shall be transferred by the Operating Bank at the written direction of the Administrative Agent from the Collections Account into the Security Deposit Account. No cash, Investment and other property in the Security Deposit Account may be used to make payments, other than as permitted under Section 3.07 hereof, in respect of the ACS Group Loans or the Class E Securities at any time. Any security deposits relating to an expired ACS Group Lease that remain in the Security Deposit Account after expiration or termination of such ACS Group Lease and that are not due and owing to the relevant Lessee under such expired or terminated ACS Group Lease shall, if so required under the terms of a subsequent ACS Group Lease, if any, relating to such ACS Group Aircraft, be credited in the Security Deposit Account or a Lessee Funded Account for the benefit of the next Lessee of the relevant ACS Group Aircraft and, to the extent not so required, transferred to the Collections Account.
Security Deposit Account. If law or a Lender requires a segregated account of security deposits, the Property Manager will open a separate account at a reputable bank or other financial institution. The Property Manager shall maintain such account in accordance with applicable law and/or the applicable loan agreement. The Property Manager shall use the account only to maintain security deposits. The Property Manager shall inform the bank or financial institution to hold the funds in trust for the Tenants in Common. The Property Manager shall maintain detailed records of all security deposits deposited, and allow the Tenants in Common or its designees access to such records. The Property Manager may return such deposits to any tenant in the ordinary course of business in accordance with the terms of the applicable lease.
