Segregated Operating Account Sample Clauses
Segregated Operating Account. Upon the mutual execution and delivery of this Agreement, Manager shall establish a dedicated and segregated bank account at Manager’ s primary bank (“Segregated Operating Account”), for the purposes of receiving monies payable by and to Client hereunder, and for reimbursing Manager for expenses advanced by Manager with respect to the Aircraft.
Segregated Operating Account. (a) Create, incur, assume or suffer to exist any Lien upon the Segregated Operating Account in favor of the ABL Agent or any ABL Lender.
(b) Make or permit to be made any payment of principal or interest or otherwise on account of the ABL Facility Indebtedness with funds to be kept in or disbursed from the Segregated Operating Account.