Establishment of Collateral Account. (a) The Indenture Trustee shall, pursuant to the Collateral Account Control Agreement, establish, or cause to be established, with, State Street Bank and Trust Company, who shall represent and warrant that it is a financial intermediary (as defined in Section 8-313(4) of the Massachusetts Uniform Commercial Code), in its name as secured party hereunder an Eligible Deposit Account entitled "State Street Bank and Trust Company, as secured party under the Trust Indenture and Security Agreement [NW 1997 G] dated as of September 25, 1997, with the Owner Trustee referred to therein".
Establishment of Collateral Account. The Securities Intermediary hereby confirms that (a) the Securities Intermediary has established the Collateral Account, (b) the Collateral Account is a securities account, (c) subject to the terms of this Agreement, the Securities Intermediary shall treat the Purchase Contract Agent as entitled to exercise the rights that comprise any financial asset credited to the Collateral Account, (d) all property delivered to the Securities Intermediary pursuant to this Agreement or the Purchase Contract Agreement will be credited promptly to the Collateral Account and (e) all securities or other property underlying any financial assets credited to the Collateral Account shall be registered in the name of the Securities Intermediary, indorsed to the Securities Intermediary, or in blank or credited to another securities account maintained in the name of the Securities Intermediary, and in no case will any financial asset credited to the Collateral Account be registered in the name of the Purchase Contract Agent or any Holder, payable to the order of the Purchase Contract Agent or any Holder or specially indorsed to the Purchase Contract Agent or any Holder.
Establishment of Collateral Account. Company shall provide Bank with cash collateral to secure Company’s obligations under the Program Documents and the Prior Program Documents, which Bank shall deposit in a deposit account (“Collateral Account”) at Bank. The Collateral Account shall be a deposit account at Bank, segregated from any other deposit account of Company that shall hold only the funds provided by Company to Bank as collateral. At all times, Company shall maintain funds in the Collateral Account equal to the sum of (1) Five Million Dollars ($5,000,000.00), plus (2) [***] (the “Required Balance”); provided, that the Required Balance shall never exceed [***]. The Required Balance shall be calculated monthly as of the first day of each month during the Term. In the event the actual balance in the Collateral Account is less than the Required Balance, Company shall, within two (2) Business Days following receipt of notice of such deficiency, make a payment into the Collateral Account in an amount equal to the difference between the Required Balance and the actual balance in such account.
Establishment of Collateral Account. Upon the execution hereof, there shall be established and at all times thereafter there shall be maintained by the Borrower, a non-interest bearing cash collateral account with a financial institution approved by the Lender (the "Collateral Account") subject to the terms of this Agreement.
Establishment of Collateral Account. (a) The Collateral Agent is hereby authorized to establish and maintain at its office at 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, in the name of the Collateral Agent and pursuant to a Control Agreement, a restricted deposit account designated “Constar International, Inc. Collateral Account”. Each Grantor shall to the extent contemplated by this Agreement, the Credit Agreement, the Collateral Sharing Agreement or in any other Loan Document, deposit into the Collateral Account from time to time (A) the Net Proceeds of any of the Collateral (as defined in the Credit Agreement for the purposes of this Article VI), including pursuant to any disposition thereof, (B) the Net Proceeds of any Taking or Destruction with respect to Collateral, (C) any cash in respect of any Collateral to which the Collateral Agent is entitled pursuant to any Loan Documents and (D) any cash such Grantor is required to pledge as additional collateral security pursuant to any Loan Documents.
Establishment of Collateral Account. The Custodian has established and will maintain on its books and records each Company’s (i) custodial accounts set forth on Schedule 1 hereto, which accounts and the assets credited thereto are pledged in favor of the Agent (collectively, the “Securities Account”), and (ii) deposit accounts set forth on Schedule 1 hereto, which accounts and the assets credited thereto are pledged in favor of the Agent (collectively, the “Deposit Account” and together with the Securities Account, the “Collateral Account”). The Custodian will credit to the Collateral Account any assets delivered to it by any Company pursuant to the Custodian Agreement except that Loan Documents and Identified Securities (as each such term is defined below) delivered to the Custodian shall be held by the Custodian upon the terms of Section 5. The Custodian shall have no responsibility for determining the adequacy of any Collateral required hereunder or under the Loan Agreement, nor will it assume responsibility for any calculations related to any Collateral requirements under the Loan Agreement.
Establishment of Collateral Account. On the Certificate Closing Date, the Indenture Trustee, pursuant to the Collateral Account Control Agreement, established with State Street Bank and Trust Company in its name as secured party an Eligible Deposit Account entitled "First Security Bank, National Association, as secured party under the Trust Indenture and Security Agreement (Federal Express Corporation Trust No. N584FE) dated as of May 1, 1997, with the Owner Trustee referred to therein".
Establishment of Collateral Account. For purposes of this Security Agreement and the Depositary Agreement, the Collateral Agent shall at all times during the term of this Security Agreement maintain a segregated non-interest bearing trust account in the name of and under the control of the Collateral Agent on behalf of the Secured Parties (said account being herein called the “Collateral Account”, the operation of which shall be governed by this Article VI). The Collateral Account shall at all times be an Eligible Account. It is understood and agreed by the Issuer, the Collateral Agent and the Depositary that there shall be deposited in the Collateral Account the following monies, cash and proceeds: (a) the net proceeds from the sale of Secured Liquidity Notes payable to the Issuer pursuant to the Depositary Agreement, to the extent not required to repay any advances made by the Depositary pursuant to Section 2(b) of the Depositary Agreement or maturing Secured Liquidity Notes or outstanding Extended Notes on the Issuance Date of such Secured Liquidity Notes, whether or not presented to the Depositary for payment, and to the extent not maintained in the Secured Liquidity Note Account pursuant to the terms of the Depositary Agreement, (b) all monies received by the Collateral Agent pursuant to this Security Agreement and required by the terms hereof to be deposited by or on behalf of the Issuer in the Collateral Account (including, without limitation, interest on the Eligible Investments), (c) all monies received by or on behalf of the Issuer under the Mortgage Loan Purchase and Servicing Agreement, (d) all monies received by or on behalf of the Issuer as proceeds from the sale or Financing of Mortgage Loans, Principal Prepayments in full of any Mortgage Loans and related Prepayment Charges and payments of the Repurchase Price of any Mortgage Loan, (e) all monies required to be transferred to the Collateral Account from the Collection Account, including principal and interest payments on Mortgage Loans, (f) all monies received by or on behalf of the Issuer under the Interest Rate Swaps, (g) all monies received by or on behalf of the Issuer from the sale of Term Notes, (h) all monies received by or on behalf of the Issuer from the sale of the Subordinated Notes, and (i) any and all monies at any time and from time to time received by or on behalf of the Issuer, and required by the terms of this Security Agreement, or any related document to be deposited in the Collateral Account. The Collateral...