Special Loan Account. Upon the occurrence of an Event of Default and demand by Bank, the Borrower shall establish and maintain with the Bank, during the term of the Loans, a demand deposit account (the "Special Loan Account"). From and after occurrence of an Event of Default, the Borrower shall deposit in the Special Loan Account, as received, all proceeds from the sale of Inventory and collection of Accounts and other Collateral in the form of checks, drafts, cash or the like, and all such proceeds shall constitute Collateral. Upon receipt of written instructions from the Bank after an Event of Default, the Borrower shall direct (by instruction on invoices and otherwise) all Account Debtors to make payments to a designated post office box under the control of the Bank, which payments shall be deposited directly into the Special Loan Account. The Borrower shall pay the Bank's reasonable fees and charges in connection with such lock-box arrangement.
Special Loan Account. Bank may deposit the proceeds of the Line of Credit Loan into an account of Borrower maintained with Bank.
Special Loan Account. The Borrower shall establish and maintain with the Bank, during the term of the Loan, a demand deposit account (the "Special Loan Account") into which the Borrower shall deposit, as received, all proceeds from the sale of Inventory and collection of Accounts and other Collateral in the form of checks, cash, drafts or the like, and all such proceeds shall constitute Collateral. The Bank shall debit funds from the Special Loan Account and apply the balance thereof against the outstanding balance of the Revolving Note
Special Loan Account. The Collateral Agent shall open in its account books a special account for BSN in which the following entries shall be made, as appropriate, in relation to the French Tranche C1 Term Loans, the French Tranche C2 Term Loans and the French Tranche C3 Term Loans: DEBIT: • The sum drawn down by BSN by way of principal. • The sum of the interest, commissions, and any other items whatsoever due from BSN under the French Tranche C1 Term Loans, the French Tranche C2 Term Loans and the French Tranche C3 Term Loans. CREDIT: • Payments made by BSN by way of settlement or repayment of the above mentioned items. In this way the net balance owed by BSN under the French Tranche C1 Term Loans, the French Tranche C2 Term Loans and the French Tranche C3 Term Loans shall be known at all times.
Special Loan Account. 14.1 The release of the loan funds hereunder and the payment to an outside party must be done though the account listed below. Specific information on the aforesaid account is as follows: Account title: Inner Mongolia Yongye Nongfeng Biotech Co., Ltd. Account number: Account Bank: China Merchants Bank, Ruyi Branch
14.2 If the entrustment payment method is adopted, Party A has the right, when necessary, to set restrictions in the account mentioned above on online payment, telephone payment and other functions of payment and exchange not conducted over the counter.
Special Loan Account. The Borrower shall establish and maintain with the Bank, during the term of the Loan, a demand deposit account (the "Special Loan Account") into which the Borrower shall deposit, as received, all proceeds from the sale of Inventory and collection of Accounts and other Collateral in the form of checks, drafts, cash or the like, and all such proceeds shall constitute Collateral. The Bank shall debit collected funds from the Special Loan Account and apply the balance thereof ("Collected Balance") against the outstanding principal balance of the Revolving Note (and earned interest thereon) on or after the Business Day following the Business Day of deposit. The Bank may, but shall not be required to, apply to the Loan any amounts represented by uncleared checks, subject to collection. Unless the Bank shall agree to other arrangements, the Borrower shall direct (by instruction on invoices and otherwise) all Account Debtors to make payments to a designated post office box under the control of the Bank, which payments shall be deposited directly into the Special Loan Account. The Borrower shall pay the Bank's reasonable fees and charges in connection with such lock-box arrangement.
Special Loan Account. The Borrower shall establish and maintain with the Bank, during the term of the Loan, a demand deposit account (the "Special Loan Account") into which the Borrower shall deposit, as received, all proceeds from the sale of Inventory and collection of Accounts and other Collateral in the form of checks, drafts, cash or the like, and all such proceeds shall constitute Collateral. The Bank shall debit collected funds from the Special Loan Account and apply the balance thereof against the outstanding balance of the Revolving Note on or after the Business Day following the Business Day of deposit. The Bank may, but shall not be required to, apply to the Loan any amounts represented by uncleared checks, subject to collection. Unless the Bank shall agree to other arrangements, the Borrower shall direct (by instruction on invoices and otherwise) all Account Debtors to make payments to a designated post office box under the control of the Bank, which payments shall be deposited directly into the Special Loan Account. The
Special Loan Account. The Borrower shall establish the Special -------------------- Loan Account with the Lender.
Special Loan Account. 15 Prepayment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
Special Loan Account. 6.4.1 The issuance and external payment of all loan fund hereunder shall be handled through the account of Beijing REIT Technology Development Co., Ltd.
