Establishment of Certain Accounts. (a) Borrower shall, simultaneously herewith, establish one or more Eligible Accounts (collectively, the “Restricted Account”) pursuant to the Restricted Account Agreements in the name of Borrower for the sole and exclusive benefit of Lender into which Borrower shall deposit, or cause to be deposited, all revenue generated by the Property. Pursuant to each Restricted Account Agreement, funds on deposit in the Restricted Account shall be transferred on each Business Day to the Cash Management Account.
Appears in 3 contracts
Samples: Loan Agreement (Retail Value Inc.), Loan Agreement (Retail Value Inc.), Loan Agreement (DDR Corp)
Establishment of Certain Accounts. (a) Borrower shall, simultaneously herewith, establish one or more Eligible Accounts (collectively, the “Restricted Account”) pursuant to the Restricted Account 166 Agreements in the name of Borrower for the sole and exclusive benefit of Lender into which Borrower shall deposit, or cause to be deposited, all revenue generated by the Property. Pursuant to each Restricted Account Agreement, funds on deposit in the Restricted Account shall be transferred on each Business Day to the Cash Management Account.
Appears in 1 contract
Samples: Loan Agreement (Retail Value Inc.)
