Common use of Establishment of Collection Accounts Clause in Contracts

Establishment of Collection Accounts. (a) In accordance with the provisions of the Operating Lease, (i) Operating Company will establish within thirty (30) days after the Closing Date and will maintain for the benefit of Mortgage Borrower, as lessor under the Operating Lease, the Collection Accounts with Collection Banks throughout the term of the Mortgage Loan and (ii) the rights of Mortgage Borrower (as landlord) under the Operating Lease will be collaterally assigned to Mortgage Lender within such 30-day period. All Revenues, other than amounts retained on-site by each Operating Company as a Gaming Operating Reserve and amounts collected and maintained in Off-Shore Accounts, will be deposited in the Collection Accounts.

Establishment of Collection Accounts. (a) In accordance with the provisions of the Operating Lease, (i) Operating Company will establish within thirty (30) days after the Closing Date Date) and will maintain for the benefit of Mortgage Borrower, as lessor under the Operating Lease, the Collection Accounts with Collection Banks throughout the term of the Mortgage Loan and (ii) the rights of Mortgage Borrower (as landlord) under the Operating Lease will be collaterally assigned to Mortgage Lender within such 30-day period. All Revenues, other than amounts retained on-site by each Operating Company as a Gaming Operating Reserve and amounts collected and maintained in Off-Shore Accounts, will be deposited in the Collection Accounts.

Establishment of Collection Accounts. (a) In accordance with the provisions of the Operating Lease, (i) Operating Company will establish within thirty (30) days after the Original Closing Date and will maintain for the benefit of Mortgage Borrower, as lessor under the Operating Lease, the Collection Accounts with Collection Banks throughout the term of the Mortgage Loan and (ii) the rights of Mortgage Borrower (as landlord) under the Operating Lease have been collaterally assigned to Lender or will be collaterally assigned to Mortgage Lender within such 30-30 day period. All Revenues, other than amounts retained on-site by each Operating Company as a Gaming Operating Reserve and amounts collected and maintained in Off-Shore Accounts, will shall be deposited in the Collection Accounts.

Establishment of Collection Accounts. (a) In accordance with the provisions of the Operating Lease, (i) Operating Company will establish within thirty (30) days after the Closing Date and will maintain for the benefit of Mortgage Borrower, as lessor under the Operating Lease, the Collection Accounts with Collection Banks throughout the term of the Mortgage Loan and (ii) the rights of Mortgage Borrower (as landlord) under the Operating Lease have been collaterally assigned to Lender or will be collaterally assigned to Mortgage Lender within such 30-day period. All Revenues, other than amounts retained on-site by each Operating Company as a Gaming Operating Reserve and amounts collected and maintained in Off-Shore Accounts, will be deposited in the Collection Accounts.