Common use of Control of Operator’s Deposit Accounts Clause in Contracts

Control of Operator’s Deposit Accounts. Operator, FHA Lender and AR Lender agree and certify to the existence of deposit account control agreements or like agreements relating to Operator’s deposit accounts: [Describe deal-specific arrangement as to who has primary control of Operator’s deposit accounts.] AR Lender funds AR Loan Advances. Operator, FHA Lender and AR Lender agree that no later than the [eighth (8th)] day of each calendar month (provided that if such day is not a Business Day then on the immediately preceding Business Day), [upon written request from Operator in accordance with the AR Loan Agreement, AR Lender shall disburse [, by wire transfer of immediately available funds as an Advance (to the extent of [Availability]) to [the account of FHA Lender designated in writing by Operator to AR Lender] [a payment account designated in writing by Operator and from which FHA Lender will either receive an automatic wire or access via the automated clearinghouse system], an amount equal to the Current Impositions, as defined below, as designated in writing to AR Lender by FHA Lender, provided, however, that any Advance made pursuant to this subsection (b) shall be subject to the restrictions set forth in subsection (d) below.