Common use of Termination of Central Cash Management Clause in Contracts

Termination of Central Cash Management. The obligations of Borrowers under Section 2.11 and Section 2.12 to maintain and fund the Collection Accounts and the Cash Collateral Account shall terminate in their entirety and be of no further force or effect upon the release of all Mortgages by Lender in accordance with the provisions of this Agreement and the other Loan Documents.

Appears in 3 contracts

Samples: Loan Agreement, Loan Agreement (Ashford Hospitality Trust Inc), Loan Agreement (Ashford Hospitality Trust Inc)

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Termination of Central Cash Management. The obligations of Borrowers Borrower under Section 2.11 and Section 2.12 to maintain and fund the Collection Accounts and the Cash Collateral Deposit Account shall terminate in their entirety and be of no further force or effect upon the release satisfaction of all Mortgages by Lender in accordance with each of the provisions following conditions: (i) no Default or Event of this Agreement Default shall have occurred and the other Loan Documents.be continuing;

Appears in 1 contract

Samples: Mezzanine Loan Agreement (Ashford Hospitality Trust Inc)

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