Common use of Cash Management Agreement Clause in Contracts

Cash Management Agreement. On or before the date hereof Borrower covenants and agrees to enter into one or more servicing account agreements, lockbox servicing agreements and/or cash management agreements acceptable to Lender between Borrower, Manager, Lender and, as applicable, one or more certain financial institutions (together with any modification, amendment, substitution or replacement thereof, hereinafter collectively referred to as the "CASH MANAGEMENT AGREEMENT"). All Rents shall be applied as set forth in the Cash Management Agreement and the escrows and reserves required hereunder shall be funded as provided therein. The Borrower shall pay all costs and expenses required under the Cash Management Agreement. Upon the occurrence and during the continuance of an Event of Default, Lender may apply any sums then held pursuant to the Cash Management Agreement to the payment of the Debt in any order in its sole discretion. Until expended or applied, amounts held pursuant to the Cash Management Agreement shall constitute additional security for the Debt.

Cash Management Agreement. On or before the date hereof Borrower Mortgagor covenants and agrees to enter into one or more servicing account agreements, agreements and lockbox servicing agreements and/or cash management agreements acceptable to Lender Mortgagee between BorrowerMortgagor, Manager, Lender and, as applicable, Mortgagee and one or more certain financial institutions (together with any modification, amendment, substitution or replacement thereof, hereinafter collectively referred to as the "CASH MANAGEMENT AGREEMENTCash Management Agreement"). All During any Sweep Period (as defined in the Cash Management Agreement), all Rents shall be applied as set forth in the Cash Management Agreement and the escrows and reserves required hereunder shall be funded as provided therein. The Borrower Mortgagor shall pay all costs and expenses required under the Cash Management Agreement. Upon the occurrence and during the continuance of an Event of Default, Lender Mortgagee may apply any sums then held pursuant to the Cash Management Agreement to the payment of the Debt in any order in its sole discretion. Until expended or applied, amounts held pursuant to the Cash Management Agreement shall constitute additional security for the Debt.

Cash Management Agreement. On or before the date hereof Borrower covenants and agrees to enter into one or more servicing account agreements, lockbox servicing agreements and/or cash management agreements acceptable to Lender between Borrower, Manager, Lender and, as applicable, one or more certain financial institutions (together with any modification, amendment, substitution or replacement thereof, hereinafter collectively referred to as the "“CASH MANAGEMENT AGREEMENT"”). All Rents shall be applied as set forth in the Cash Management Agreement and the escrows and reserves required hereunder shall be funded as provided therein. The Borrower shall pay all costs and expenses required under the Cash Management Agreement. Upon the occurrence and during the continuance of an Event of Default, Lender may apply any sums then held pursuant to the Cash Management Agreement to the payment of the Debt in any order in its sole discretion. Until expended or applied, amounts held pursuant to the Cash Management Agreement shall constitute additional security for the Debt.