Borrower’s Accounts. Except as prohibited by law, Borrower grants Bank a security interest in all of Borrower's accounts with Bank and any of its affiliates.
Borrower’s Accounts. The Borrowers hereby authorize the Administrative Agent to charge the Borrowers’ accounts with the Administrative Agent in order to cause timely payment to be made to the Administrative Agent of all principal, interest, fees and expenses due hereunder (subject to sufficient funds being available in its accounts for that purpose).
Borrower’s Accounts. Except as prohibited by law, Borrower grants Bank a security interest in all of Borrower’s accounts with Bank and any of its affiliates. Swap Agreements. All swap agreements (as defined in 11 U.S.C. § 101), if any, between Borrower and Bank or its affiliates are independent agreements governed by the written provisions of said swap agreements, which will remain in full force and effect, unaffected by any repayment, prepayment, acceleration, reduction, increase or change in the terms of this Note, except as otherwise expressly provided in said written swap agreements, and any payoff statement from Bank relating to this Note shall not apply to said swap agreements unless expressly referred to in such payoff statement.
Borrower’s Accounts. Borrower shall maintain any and all operating, security deposit, and reserve accounts for the Property with Lender and pledge the same to Lender as security for the Loan.
Borrower’s Accounts. Except as prohibited by law, Borrower grants Bxxx x xxcurity interest in all of Borrower's accounts with Bank and any of its affiliates.
Borrower’s Accounts. Except as prohibited by law, Borrower grants Bank a security interest in all of Xxxxxxxx's accounts with Bank and any of its affiliates.
Borrower’s Accounts. Borrower shall establish and shall maintain the Borrower’s Funds Account if and when required for the purposes set forth herein:
Borrower’s Accounts. The Borrower's Accounts for the year ending 31 December 2005 and all other annual financial statements relating to the Borrower required to be delivered under Clause 10.2.18 of this Agreement, were each prepared in accordance with GAAP, give (in conjunction with the notes thereto) a true and fair view of (in the case of annual financial statements) or fairly represent (in the case of quarterly accounts) the financial condition of the Borrower Group at the date as of which they were prepared and the results of the Borrower Group’s operations during the financial period then ended.
Borrower’s Accounts. Except as prohibited by law, Borrower grants Bxxx x xxcurity interest in all of Borrower's accounts with Bank and any of its affiliates. Swap Agreexxxxx. Xll swap agreements (as defined in 11 U.S.C. ss. 101, as in effect from time to time), if any, between Borrower and Bank or its affiliates are independent agreements governed by the written provisions of said swap agreements, which will remain in full force and effect, unaffected by any repayment, prepayment, acceleration, reduction, increase or change in the terms of this Note, except as otherwise expressly provided in said written swap agreements, and any payoff statement from Bank relating to this Note shall not apply to said swap agreements unless expressly referred to in such payoff statement.
Borrower’s Accounts. Borrower shall be required to maintain all of its accounts associated with the Project with Bank. Without limitation of the foregoing, Borrower shall have established and shall maintain the following accounts with Bank: (i) its primary operating account for the Project (the “Operating Account”), (ii) the Insurance Reserve Account, (iii) the Capital Reserve Account, and (iv) the Tax Reserve Account, and (v) the TI/LC Reserve Account. Each Operating Account, Insurance Reserve Account, Capital Reserve Account, TI/LC Reserve Account, and all other accounts maintained by Borrower in Borrower’s name in connection with the Loan, shall be referred to herein as the “Accounts”. The Accounts shall not be co-mingled with each other or any other accounts or investments of any Borrower or its owners or Affiliates. Borrower shall pay all reasonable expenses of opening and maintaining the Accounts in amounts not to exceed those generally charged by Bank to similarly situated customers of Bank. Borrower hereby pledges and assigns to Bank, and grants to Bank a first priority security interest in, all funds at any time on deposit in the Accounts as additional Collateral for the Loan. Borrower will take, or authorizes Bank to take, all actions necessary to maintain in favor of Bank a perfected first priority security interest in the Accounts, including, without limitation, filing UCC 1 financing statements and continuations thereof. All monies now or hereafter deposited into the Accounts shall be deemed additional security for the Loan. Borrower shall not, further pledge, assign or grant any security interest in the Accounts, or permit any Lien to attach thereto, except a Permitted Encumbrance. This Agreement is, among other things, intended by the parties to be a security agreement for purposes of the Uniform Commercial Code. Borrower and Bank further agree that it is the intent of the parties that this Agreement is an authenticated record evidencing Bank’s “control” of the Accounts (within the meaning of Section 9-104 of the Uniform Commercial Code as in effect in the State of Florida. Without limitation of the foregoing, upon the occurrence of an Event of Default, Bank shall have the right to apply funds in the Accounts to one or more of the following items, in Bank’s sole discretion, (i) to reduce the outstanding principal balance of the Loan, (ii) to pay debt service, fees and costs due under the Loan Documents, (iii) to the payment of real estate taxes and/or insurance ...
