Creation of Cash Management Accounts Sample Clauses

Creation of Cash Management Accounts. On or prior to the Closing Date, Borrower shall: (1) establish and maintain with Agent the Senior Collateral Accounts in accordance with the Senior Loan Agreement and Senior Cash Management Agreement, as applicable; and (2) establish and maintain with Agent the Mezzanine Collection Account and the Senior Mezzanine Leasing Reserve Account pursuant to the Mezzanine Cash Management Agreement. The Mezzanine Collection Account shall be an Eligible Account in the name of Lender and shall be under the sole dominion and control of Lender. As a condition precedent to the Closing Date, Agent shall execute and deliver the Cash Management Agreements, which provide, inter alia, that (i) no party other than Lender and Servicer shall have the right to withdraw funds from the Mezzanine Collection Account; and (ii) no party other than Senior Lender (or its servicer under the Senior Loan Agreement) shall have the right to withdraw funds from the Senior Collateral Accounts, except to the extent expressly set forth in the Cash Management Agreements. The fees and expenses of Agent, with respect to the Cash Management Accounts shall be paid by Borrower pursuant to the terms of the respective Cash Management Agreements.
Sample 1
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Related to Creation of Cash Management Accounts

  • Cash Management Account Borrower hereby represents and warrants to Lender that:

  • Cash Management (a) On or prior to the Closing Date:

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Cash Management System Each Borrower shall, and shall cause its Subsidiaries to, establish and maintain the Cash Management Systems described below:

  • Cash Management Systems On or prior to the Closing Date, Borrowers will establish and will maintain until the Termination Date, the cash management systems described in Annex C (the “Cash Management Systems”).

  • Administration of Deposit Accounts Schedule 8.5 sets forth all Deposit Accounts maintained by Obligors, including all Dominion Accounts. Each Obligor shall take all actions necessary to establish Agent’s control over each such Deposit Account (other than Excluded Deposit Accounts). Each Obligor shall be the sole account holder of each Deposit Account and shall not allow any Person (other than Agent) to have control over a Deposit Account or any Property deposited therein. Each Obligor shall promptly notify Agent of any opening or closing of a Deposit Account and, with the consent of Agent, will amend Schedule 8.5 to reflect same.

  • Management Accounts The Management Accounts:

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Blocked Accounts Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

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