Property Accounts definition

Property Accounts means the Rent Deposit Accounts and Borrower’s Operating Account.

Property Accounts has the meaning set forth in Section 3.08(c) hereof.

Property Accounts shall have the meaning set forth in the Mortgage Loan Agreement.

Examples of Property Accounts in a sentence

• Borrower shall pay for all expenses of opening and maintaining the Collection Account (and the Accounts) and the Property Accounts.

• All funds in such separate Property Accounts may be swept into a central account (the “Central Account”) in Owner’s name as maintained by Manager, according to the provisions of Section 8.1 of this Agreement.

• Owner shall be a signatory to all accounts established and maintained by Manager in connection with its obligations under this Agreement, including, without limitation, the Property Accounts, the Central Account and the Security Deposit Account and shall, at all times, have access to, and the right to withdraw funds from, all such accounts.

• Manager shall establish and maintain the Property Accounts, and shall maintain the Central Account, at any FDIC insured banking institution reasonably acceptable to Owner.

• Except as provided in Section 3.06(c) and Section 3.08 hereof with respect to the Class B Preferred Securities and the Property Accounts or as otherwise provided in this Agreement, legal title to the Trust Estate of the Trust shall be vested in the Trust.

More Definitions of Property Accounts

Property Accounts means each of the accounts of Borrower identified on Schedule XIII hereto, as same may be replaced from time to time with the approval of Lender, not to be unreasonably withheld, conditioned or delayed.

Property Accounts means each of the accounts of Borrower identified on Schedule XIII hereto.

Property Accounts shall have the meaning set forth in Section 2.6.1 hereof.

Property Accounts means the accounts set forth on Exhibit H.

Property Accounts has the meaning set forth in Section 2.20(c) hereof.

Property Accounts means all of the bank accounts maintained by Borrower, each of which shall be a Deposit Account established with a financial institution approved by the Administrative Agent in its reasonable discretion and shall be subject to a Deposit Account Control Agreement.

Property Accounts as defined herein, (b) as of the Closing Date and for a period of thirty (30) days after the Closing Date, the Terminated Accounts may remain open in the name of Borrower, (c) Borrower shall, within thirty (30) days after the Closing Date, close the Terminated Accounts, (d) Borrower shall not deposit any Rents or other revenue generated by the Properties into any Terminated Account after the Closing Date, and (e) such Terminated Accounts shall not be subject to a Property Account Control Agreement.