Security Deposit Accounts Sample Clauses

Security Deposit Accounts. The Lessor shall return the full amount of the security deposit within 30 days of the completion of the lease provided all obligations under this Agreement have been met.
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Security Deposit Accounts. To the extent required by applicable law, Borrower shall maintain a segregated security deposit account for the Project and shall advise the Credit Institution of its location.
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Security Deposit Accounts. Manager shall direct all tenants to send their security deposits to one of the Security Deposit Accounts and any security deposits collected by Manager in cash or by check shall be deposited by Manager to one of the Security Deposit Accounts within three (3) Business Days after receipt thereof by Manager. Manager shall cause all security deposits received by any Third-Party Management Company or other third party service provider to be deposited into a Security Deposit Account in accordance with the Loan Agreement. In the event that Manager determines that all or any portion of a Security Deposit is not required for repair or maintenance and is to be returned to any tenant in accordance with the applicable lease and Laws, Manager shall, in compliance with the provisions of the Loan Agreement, cause such amount to be returned to the applicable tenant and shall provide notice thereof to Owner. Owner shall release security deposits to Manager on a timely basis to the extent permitted by Section 4.1.6 of the Loan Agreement to allow compliance by the Manager with the terms of the lease requiring timely return of those deposits.
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Security Deposit Accounts. 24 Senior Assignment of Rents and Leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
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Security Deposit Accounts. On the Closing Date, Borrower shall deposit all security deposits then currently being held by Borrower or Manager pursuant to the Leases into one or more trust accounts (each, a “Security Deposit Account”) established and maintained by Borrower at a local bank selected by Borrower and reasonably approved by Lender which shall be an Eligible Institution (each, a “Security Deposit Bank”). Borrower shall cause all security deposits received by Borrower or Manager after the Closing Date to be deposited into a Security Deposit Account, the Collection Account or a Rent Deposit Account within three (3) Business Days of receipt. Borrower shall, no less frequently than once each month, transfer any security deposits previously received into a Security Deposit Account. Each Security Deposit Account shall be subject to a Property Account Control Agreement in which Borrower and Manager shall have access to and may make withdrawals from such Security Deposit Account until the occurrence of an Event of Default, after which Lender may exercise sole control and dominion over such Security Deposit Account and neither Borrower nor Manager shall have the right of withdrawal from or access to such Security Deposit Account. Any withdrawals from a Security Deposit Account that represent Rent collected as a result of a default by a Tenant under a Lease shall be immediately deposited into a Rent Deposit Account or the Collection Account.
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Security Deposit Accounts. (a) Each Assignor warrants and represents to, and covenants and agrees with Agent that such Assignor has established the Security Deposit Accounts with Depository in the name of Agent as secured party and has deposited the Security Funds into its respective Security Deposit Account. Funds deposited in the Security Deposit Accounts shall not be invested and will earn interest at a rate paid by Depository with respect to similar accounts. Interest earned on the Security Deposit Account will be deposited into the Security Deposit Account and shall be reported as the income of the applicable Assignor. The Security Deposit Accounts shall be established and maintained as segregated accounts. All funds on deposit in the Security Deposit Accounts shall be held by Depository for the benefit of Agent and the Lenders free of any liens or claims on the part of creditors of Assignor or Borrower other than Agent. (b) Prior to the occurrence and continuation of any Sweep Period, Assignor shall have the right to withdraw or direct the disposition of the funds from the Security Deposit Accounts in accordance with the terms of the leases for the applicable Mortgaged Property. No Assignor may, without Agent’s consent (which may be withheld in its sole and absolute discretion), close or move the Security Deposit Accounts. Each Assignor acknowledges and agrees that Agent has control of the Security Deposit Accounts within the meaning of §9-104 of the UCC. Depository acknowledges that Agent has a security interest in the Security Deposit Accounts and the other Collateral and by this Agreement is granted control over the Security Deposit Accounts, within the meaning of Section 9-104 of the UCC. For purposes of perfecting the Agent’s security interest, the Depository confirms that any property held by it in the Security Deposit Accounts is held as agent for the Agent. Upon the occurrence and during the continuance of any Sweep Period, Agent shall be entitled to give Depository written instructions as to the withdrawal or disposition of funds from time to time credited to the Security Deposit Accounts, the operation of, deposit of funds to, or payment of items from the Security Deposit Accounts, or as to any other matters relating to the Security Deposit Accounts, all without further consent of any Assignor and Depository shall comply with any such instructions from the Agent. Each Assignor hereby irrevocably directs Depository to comply with all such instructions from Agent. Depo...
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Related to Security Deposit Accounts

  • 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 Deposits The Owner hereby grants the Agent power to collect security deposits from the tenants on the Property. Returning said security deposit shall be the responsibility of the: (check one)

  • Deposit Accounts For each Deposit Account that any Grantor at any time opens or maintains, other than Deposit Accounts (A) that are payroll accounts, withholdings tax accounts, xxxxx cash accounts or flexible spending benefit accounts or trust, escrow or other fiduciary accounts or (B) which do not hold for any period of five consecutive days, an aggregate amount in excess of $1,000,000, such Grantor shall, upon the Collateral Agent’s request, either (i) cause the depositary bank to agree to comply at any time with instructions from the Collateral Agent to such depositary bank directing the disposition of funds from time to time credited to such Deposit Account, without further consent of such Grantor or any other person, pursuant to an agreement in form and substance satisfactory to the Collateral Agent, or (ii) arrange for the Collateral Agent to become the customer of the depositary bank with respect to the Deposit Account, with the Grantor being permitted, only with the consent of the Collateral Agent, to exercise rights to withdraw funds from such Deposit Account. The Collateral Agent agrees with each Grantor that the Collateral Agent shall not give any such instructions or withhold any withdrawal rights from any Grantor, unless an Event of Default has occurred and is continuing, or, after giving effect to any withdrawal, would occur; provided, however, upon the waiver by the applicable Required Lenders of such Event of Default, so long as no other Event of Default shall then exist or be continuing, the Collateral Agent shall revoke any such instruction. The provisions of this paragraph shall not apply to any Deposit Account for which any Grantor, the depositary bank and the Collateral Agent have entered into a cash collateral agreement specially negotiated among such Grantor, the depositary bank and the Collateral Agent for the specific purpose set forth therein.

  • Deposit Account If you are issued a secured Card, you have signed or will be required to sign a separate security agreement pledging a specific, non-withdrawable portion of your shares and/or deposits in BECU to secure your Card. The amount of the security for such a Card is the amount of your credit limit and you may not have any access to or control of that amount.

  • Deposit Accounts; Securities Accounts The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.

  • Deposit Accounts, Securities Accounts and Commodity Accounts Attached hereto as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity Accounts (each as defined in the Security Agreement) maintained by each Company, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each account.

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

  • Deposit Account Control Agreements the Deposit Account control agreements to be executed by each institution maintaining a Deposit Account for an Obligor, in favor of Agent, for the benefit of Secured Parties, as security for the Obligations.

  • Collateral Accounts The Borrower agrees and confirms that (a) pursuant to the Collateral Agency Agreement, it has caused to be established at the Collateral Agent each of the Construction Account, Construction Payment Subaccount, Punchlist Retention Subaccount, the Operating Account, the Debt Service Reserve Account, the Debt Service Accrual Account, the Insurance Proceeds Account, the Income Tax Reserve Account, the Distribution Account and the Revenue Account, in each case in the name of the Collateral Agent and (b) it has instructed (or, on or before the effectiveness of each Project Document that is entered into after the date hereof, will instruct) each of the other parties to the Project Documents that all payments constituting Project Revenues due or to become due to the Borrower under or in connection with each such Project Document shall be made directly to the Collateral Agent for deposit to the Revenue Account in accordance with the terms of the Collateral Agency Agreement. If, notwithstanding the foregoing, any such payment or proceeds are remitted directly to the Borrower, the Borrower shall hold such funds in trust for the Collateral Agent and shall promptly remit such payments for deposit to the Revenue Account in accordance with the Collateral Agency Agreement. In addition to the foregoing, the Borrower agrees that if the proceeds of any Collateral hereunder (including the payments made in respect of the Collateral Accounts) shall be received by it, the Borrower shall as promptly as possible transfer such Proceeds to the Collateral Agent for deposit to the Reserve Account. Until so deposited, all such proceeds shall be held in trust by the Borrower for and as the property of the Collateral Agent and shall not be commingled with any other funds or property of the Borrower.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

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