Use of the Collateral Accounts. The Borrowers may withdraw funds from the Collateral Accounts only in compliance with Section 9.14. Upon the occurrence and continuance of (i) an Event of Default or (ii) a mandatory prepayment having been triggered pursuant to Section 3.4(b) that is unpaid, (A) no Borrower shall have the right to, and shall not, give instructions to the Account Bank with respect to the Collateral Account of any Borrower (other than to direct that such defaulted amount or mandatory prepayment be made from such account or to pay Excluded Amounts) and (B) Administrative Agent is authorized to take exclusive control of each Collateral Account. Upon a change of circumstance such that events in clauses (i) and (ii) above have been remedied or upon payment of all outstanding Obligations, Administrative Agent shall promptly relinquish exclusive control of each Collateral Account.
Use of the Collateral Accounts. The Borrowers may withdraw funds from the Collateral Accounts only in compliance with Section 9.18. Upon the occurrence of a Cash Control Event, the Administrative Agent is authorized to take exclusive control of the Collateral Accounts.
Use of the Collateral Accounts. The Credit Parties may withdraw funds from the Collateral Accounts only in compliance with Section 9.18. During the continuance of a Cash Control Event with respect to the applicable Fund Group, the Administrative Agent is authorized to take exclusive control of the Collateral Accounts of such Fund Group in accordance with the terms of the applicable Control Agreement. If the applicable Account Bank with respect to any Collateral Account ceases to be HSBC or an Eligible Institution, each Borrower shall have thirty (30) days following notice from the Administrative Agent to move (or cause its Feeder Fund(s) or its Blocker(s), as applicable, to move) its Collateral Account to a replacement Account Bank that is HSBC or an Eligible Institution. If an Account Bank terminates a Control Agreement, the applicable Borrower shall (or shall cause the applicable Feeder Fund or Blocker, as applicable, to) open a new collateral account that is subject to a new Control Agreement, in form and substance satisfactory to the Administrative Agent, with a replacement Account Bank within thirty (30) days of such termination.
Use of the Collateral Accounts. The Borrowers may withdraw funds from the Collateral Accounts only in compliance with Section 9.18. During the continuance of a Cash Control Event, the Administrative Agent is authorized to take exclusive control of the Collateral Accounts in accordance with the terms of the applicable Control Agreement. If the applicable Account Bank with respect to any Collateral Account ceases to be HSBC or an Eligible Institution, each Borrower shall have thirty (30) days following notice from the Administrative Agent to move its Collateral Account to a replacement Account Bank that is HSBC or an Eligible Institution. If an Account Bank terminates a Control Agreement, the applicable Borrower shall open a new collateral account that is subject to a new Control Agreement, in form and substance satisfactory to the Administrative Agent, with a replacement Account Bank within thirty (30) days of such termination.
Use of the Collateral Accounts. The Credit Parties may withdraw funds from the Collateral Accounts only in compliance with Section 9.17. Upon the occurrence of a Cash Control Event, the Administrative Agent is authorized to take exclusive control of the Collateral Accounts. If the applicable Account Bank with respect to any Collateral Account ceases to be an Eligible Institution, each Borrower shall have thirty (30) days following notice from the Administrative Agent to move its Collateral Account to a replacement Account Bank that is an Eligible Institution. If an Account Bank terminates a Control Agreement, the Borrower shall open a new collateral account that is subject to a new Control Agreement with a replacement Account Bank within thirty (30) days of the earlier of the terminating Account Bank providing notice of its intent to terminate such Control Agreement.
Use of the Collateral Accounts. If a Cash Control Event has occurred and is continuing, the applicable Borrower may withdraw funds from its Collateral Account only in compliance with Section 9.15. Upon the occurrence and during the continuance of a Cash Control Event, the Administrative Agent is authorized to take exclusive control of the Collateral Accounts. If the applicable Account Bank with respect to any Collateral Account ceases to be an Eligible Institution, each Borrower, as applicable, shall have sixty (60) days following notice from the Administrative Agent to move its Collateral Account to a replacement Account Bank that is an Eligible Institution. If an Account Bank terminates a Control Agreement, the applicable Borrower shall open a new Collateral Account that is subject to a new Control Agreement with a replacement Account Bank within sixty (60) days of such termination or such longer period as may be reasonably approved by the Administrative Agent.
Use of the Collateral Accounts. The Credit Parties may withdraw funds from the Collateral Accounts only in compliance with Section 9.18. During the continuance of a Cash Control Event, the Administrative Bank is authorized to take exclusive control of the Collateral Accounts in accordance with the terms of the applicable Control Agreement. If the applicable Account Bank with respect to any Collateral Account ceases to be State Street or an Eligible Institution, each Borrower shall have thirty (30) days following notice from the Administrative Bank to move (or cause the applicable Feeder Fund or Blocker to move) its Collateral Account to a replacement Account Bank that is State Street or an Eligible Institution. If an Account Bank terminates a Control Agreement, the applicable Borrower shall (or cause the applicable Feeder Fund or Blocker to) open a new collateral account that is subject to a new Control Agreement, in form and substance satisfactory to the Administrative Bank, with a replacement Account Bank within thirty (30) days of such termination.
Use of the Collateral Accounts. (i) Cash interest on Term Loans shall be paid by (A) the Borrower from available unrestricted Dollars on each Interest Payment Date when due, or (B) if not so paid in full by 12:00 p.m. New York City time on any Interest Payment Date, the Administrative Agent shall pay such Cash interest to the Lenders out of the Interest Reserve Account without need for any action by Borrower. To avoid doubt, no Default or Event of Default shall be deemed to have occurred under Section 8.1(a) if any payment of interest is not made under clause (c)(i)(A) provided it is made under clause (c)(i)(B).
Use of the Collateral Accounts. The Credit Parties may withdraw funds from the Collateral Accounts only in compliance with Section 9.12 hereof. During the existence of the conditions specified in clauses (i) through (iv) of Section 9.12 hereof, no Credit Party shall have any right to withdraw funds from any Collateral Account, except as described in Section 9.12 hereof.
Use of the Collateral Accounts. The Credit Parties may withdraw funds from the Collateral Accounts only in compliance with Section 9.18. Upon the occurrence and during the continuance of a Cash Control Event, the Administrative Agent is authorized to take exclusive control of the Collateral Accounts. If the applicable Account Bank with respect to any Collateral Account ceases to be Xxxxx Fargo or an Eligible Institution, each applicable Fund Party shall have thirty (30) days following notice from the Administrative Agent to move its Collateral Account to a replacement Account Bank that is Xxxxx Fargo or an Eligible Institution. If an Account Bank terminates a Control Agreement, the applicable Fund Party shall open a new collateral account that is subject to a new Control Agreement with a replacement Account Bank within thirty (30) days (or such later period as may be agreed by the Administrative Agent in its sole discretion) of the earlier of (i) such termination and (ii) the terminating Account Bank providing notice of its intent to terminate such Control Agreement.
