Common use of Establishment of Collateral Account Clause in Contracts

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.

Appears in 8 contracts

Samples: Credit and Security Agreement (Crescent Operating Inc), Credit and Security Agreement (Crescent Operating Inc), Credit and Security Agreement (Crescent Operating Inc)

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Establishment of Collateral Account. Upon a request from the execution hereofLender or upon the occurrence of an Event of Default, 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.

Appears in 2 contracts

Samples: Credit and Security Agreement (Crescent Operating Inc), Credit and Security Agreement (Crescent Operating Inc)

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