Establishment of the Accounts. The Securities Intermediary hereby confirms that (i) the Accounts have been established with the Securities Intermediary, (ii) each Account is an account to which financial assets are or may be credited, (iii) the Securities Intermediary shall, subject to the terms of this Agreement and the Indenture, treat the Secured Party as entitled to exercise the rights that comprise any financial asset credited to an Account, (iv) all property delivered to the Securities Intermediary by or on behalf of the Secured Party or the Issuer for deposit to an Account will promptly be credited to such Account and (v) all securities or other property underlying any financial assets credited to an Account shall be registered in the name of the Securities Intermediary, endorsed 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 an Account be registered in the name of the Issuer, payable to the order of the Issuer or specially endorsed to the Issuer except to the extent the foregoing have been specially endorsed to the Securities Intermediary or in blank.
Establishment of the Accounts. The Servicer shall cause to be established or establish, on or before the Closing Date, and maintained in the name of the Administrative Agent, for the benefit of the Secured Parties, with the Account Bank, (i) the Collection Account and (ii) the Reserve Account, in each case over which the Administrative Agent shall have sole dominion and control and from which neither the Servicer nor the Borrower shall have any right of withdrawal, except as otherwise set forth in the Account Control Agreement. The Borrower will be required to pay all reasonable fees and expenses owing to the Account Bank in connection with the maintenance of the Accounts for its own account and shall not be entitled to any payment therefor. Following the Facility Termination Date, the Account Bank shall terminate the Accounts. To the extent that the Reserve Account or Collection Account is a “securities account” within the meaning of Section 8-501 of the UCC:
Establishment of the Accounts. (a) Establishment of the Collection Account, Principal Collection Account and Reserve Account. The Servicer shall cause to be established, on or before the Closing Date, and maintained in the name of the Collateral Agent as agent for the Secured Parties, with an office or branch of a depository institution or trust company (i) a segregated corporate trust account entitled “Collection Account for Wellx Xxxgo Bank, National Association, as agent for the Secured Parties” (the “Collection Account”); (ii) a segregated corporate trust account entitled “Principal Collection Account for Wellx Xxxgo Bank, National Association, as agent for the Secured Parties” (the “Principal Collection Account”) and (iii) a segregated corporate trust account entitled “Reserve Account for Wellx Xxxgo Bank, National Association” as agent for the Secured Parties (the “Reserve Account”), in each case, over which the Collateral Agent as agent for the Secured Parties shall have sole dominion and control and from which neither the Originator, the Servicer nor the Borrower shall have any right of withdrawal; provided, however, that at all times such depository institution or trust company shall be a depository institution or trust company organized under the laws of the United States of America or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), (i) (A) that has either (1) a long-term unsecured debt rating of at least investment grade by S&P and Moodx’x xx (2) a short-term unsecured debt rating or certificate of deposit rating of at least investment grade by S&P and Moodx’x, (X) the parent corporation which has either (1) a long-term unsecured debt rating of at least investment grade by S&P and Moodx’x xx (2) a short-term unsecured debt rating or certificate of deposit rating of at least investment grade by S&P and Moodx’x xx (C) that is otherwise acceptable to the Deal Agent and (ii) whose deposits are insured by the Federal Deposit Insurance Corporation (any such depository institution or trust company, a “Qualified Institution”).
Establishment of the Accounts. 3.1 The Account Bank confirms that it has opened the transaction account with account number 00000000, the details of which are set out below, (the "Transaction Account") in the name of the Issuer on the terms of this Agreement.
Establishment of the Accounts. Within 30 (thirty) days from the date of this Agreement, and in any case prior to the Effective Date, the Contractor shall open and establish the Escrow Account with the ………………………. (name of Branch) Branch of the Escrow Bank. The Escrow Account shall be denominated in Rupees. The Escrow Bank shall maintain the Escrow Account in accordance with the terms of this Agreement and its usual practices and applicable regulations, and pay the maximum rate of interest payable to similar customers on the balance in the said account from time to time.
Establishment of the Accounts. The Servicer shall cause the Securities Intermediary to establish at the Account Bank, on or before the Closing Date, and to maintain in the name and for the account of the Borrower for the benefit of the Secured Parties at the Account Bank (i) the Collection Account and (ii) the Reserve Account, in each case over which the Administrative Agent shall have sole dominion and control pursuant to the Account Control Agreement and from which neither the Servicer nor the Borrower shall have any right of withdrawal, except as otherwise set forth in the Account Control Agreement. The Borrower will be required to pay all reasonable fees and expenses owing to the Securities Intermediary in connection with the maintenance of the Accounts for its own account and shall not be entitled to any payment therefor. Following the Facility Termination Date, the Securities Intermediary shall terminate the Accounts. To the extent that the Reserve Account or the Collection Account is a “securities account” within the meaning of Section 8-501 of the UCC:
Establishment of the Accounts. The Collateral and Intercreditor Agent shall establish each Dollar-denominated Account with the Securities Intermediary at such time as such Account shall be required or be desirable pursuant to the terms of this Agreement, and shall notify the Grantors and the Secured Parties upon such establishment and shall direct relevant payments to such Account. Each agreement between the Securities Intermediary and the Collateral and Intercreditor Agent establishing any Account shall be substantially in the form set forth in Exhibit J hereto or in such other form as shall be agreed by the Collateral and Intercreditor Agent and the Securities Intermediary, and shall provide, and each Grantor authorizes such agreement to provide, that (i) such Account is a “securities account” (within the meaning of the UCC) and the Securities Intermediary is acting thereunder as a securities intermediary (within the meaning of the UCC), (ii) the Collateral and Intercreditor Agent shall have exclusive control over each Account and shall be the “entitlement holder” of such Account within the meaning of the UCC, (iii) the Securities Intermediary shall not accept any instruction or entitlement order from any Person other than the Collateral and Intercreditor Agent with respect thereto, (iv) the name of each Account shall include a reference to the Collateral and Intercreditor Agent acting under this Agreement, (v) the Securities Intermediary shall not change the name or account number of any Account without the prior written consent of the Collateral and Intercreditor Agent, (vi) each item of property (whether cash, a security, an instrument or obligation, share, participation, interest or any other property whatsoever) credited to an Account shall be treated as a financial asset (within the meaning of the UCC) and (vii) for the avoidance of doubt, the Securities Intermediary shall promptly comply with all instructions and entitlement orders given by the Collateral and Intercreditor Agent, including, without limitation, with respect to the transfer or withdrawal of financial assets and amounts in any Account, without further consent of any Grantor or any other Person. Any Account established under any other jurisdiction shall be in the name of the Collateral and Intercreditor Agent, under the sole and exclusive control of the Collateral and Intercreditor Agent, and shall otherwise be established in a manner sufficient to provide the Collateral and Intercreditor Agent with a perfected sec...
Establishment of the Accounts. (a)Simultaneously herewith, Borrower shall establish the Operating Account at Depository Bank in the name of Borrower.
Establishment of the Accounts. The Servicer shall cause to be established or establish, on or before the Closing Date, and maintained in the name of the Administrative Agent, for the benefit of the Secured Parties, with the Account Bank, (i) the Collection Account and (ii) the Reserve Account, in each case over which the Administrative Agent shall have sole dominion and control and from which neither the Servicer nor the Borrower shall have any right of withdrawal, except as otherwise set forth in the Account Control Agreement. The Borrower will be required to pay all reasonable fees and expenses owing to the Account Bank in connection with the maintenance of the Accounts for its own account and shall not be entitled to any payment therefor. Following the Facility Termination Date, the Account Bank shall terminate the Accounts.
Establishment of the Accounts. Lessee Revenue Account) of the Accounts Agreement.
