Common use of AESOP I Segregated Account Clause in Contracts

AESOP I Segregated Account. AESOP Leasing shall establish and maintain in its name an account entitled "AESOP Leasing L.P. Account" (the "AESOP I Segregated Account"). The AESOP I Segregated Account shall be maintained (i) with a Qualified Institution, or (ii) as a segregated trust account with the corporate trust department of a depository institution or trust company having corporate trust powers and acting as trustee for funds deposited in the AESOP I Segregated Account. If the AESOP I Segregated Account is not maintained in accordance with the previous sentence, then within 10 Business Days after obtaining knowledge of such fact, AESOP Leasing shall establish a new AESOP I Segregated Account which complies with such sentence and transfer into the new AESOP I Segregated Account all amounts then on deposit in the non-qualifying AESOP I Segregated Account. The parties hereto acknowledge and agree that the monies held in the AESOP I Segregated Account from time to time (i) are property of AESOP Leasing, (ii) are not being pledged to secure any obligation to, or otherwise held in trust for, the Lender or any of the persons specified in this Section 7.8 and (iii) are available to satisfy the claims of creditors of AESOP Leasing generally; provided, however, that if funds are deposited into the AESOP I Segregated Account in accordance with Section 9.13 for the purpose of paying legal fees and disbursements of counsel to AESOP Leasing or its Permitted Nominees, AESOP Leasing shall use such funds solely for such purpose; and provided further that nothing contained herein shall affect the rights of the Lender to pursue all legal remedies available to it with respect to any amounts payable by AESOP Leasing hereunder.

AESOP I Segregated Account. AESOP Leasing has established and shall establish and maintain in its name an account entitled "“AESOP Leasing L.P. Account" ” (the "“AESOP I Segregated Account"”). The AESOP I Segregated Account shall be maintained (i) with a Qualified Institution, or (ii) as a segregated trust account with the corporate trust department of a depository institution or trust company having corporate trust powers and acting as trustee for funds deposited in the AESOP I Segregated Account. If the AESOP I Segregated Account is not maintained in accordance with the previous sentence, then within 10 ten (10) Business Days after obtaining knowledge of such fact, fact AESOP Leasing shall establish a new AESOP I Segregated Account which complies with such sentence and transfer into the new AESOP I Segregated Account all amounts then on deposit in the non-qualifying AESOP I Segregated Account. The parties hereto acknowledge and agree that the monies held in the AESOP I Segregated Account from time to time (i) are property of AESOP Leasing, (ii) are not being pledged to secure any obligation to, or otherwise held in trust for, the Lender or any of the persons specified in this Section 7.8 and (iii) are available to satisfy the claims of creditors of AESOP Leasing generally; provided, however, that if funds are deposited into the AESOP I Segregated Account in accordance with Section 9.13 for the purpose of paying legal fees and disbursements of counsel to AESOP Leasing or its Permitted Nominees, AESOP Leasing shall use such funds solely for such purpose; and provided further that nothing contained herein shall affect the rights of the Lender to pursue all legal remedies available to it with respect to any amounts payable by AESOP Leasing hereunder.