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)
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)
