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. 24 Senior Assignment of Rents and Leases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
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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. (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.
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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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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) ☐ - Agent for returning to vacating tenants. ☐ - Owner for returning to vacating tenants.

  • Control Accounts; Approved Deposit Accounts Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.

  • Deposit Accounts Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Lender has an Account Control Agreement.

  • Deposit Account (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee, for the benefit of the Noteholders and the Certificateholders, the Deposit Account as provided in Section 5.01 of the Sale and Servicing Agreement.

  • 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 Pledgor, 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.

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