Lockbox Account. (a) During the term of the Loan, Borrowers shall cause Mortgage Borrowers to establish and maintain a segregated Eligible Account (the “Lockbox Account”) with Lockbox Bank in trust for the benefit of Mortgage Lender, which Lockbox Account shall be under the sole dominion and control of Mortgage Lender pursuant to and in accordance with the Mortgage Loan Documents and shall comply with all of the terms and conditions set forth in Section 2.6.1 of the Mortgage Loan Agreement.
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Samples: First Mezzanine Loan Agreement (Hard Rock Hotel Holdings, LLC), Third Mezzanine Loan Agreement (Hard Rock Hotel Holdings, LLC), Third Mezzanine Loan Agreement (Hard Rock Hotel Holdings, LLC)
Lockbox Account. (a) During the term of the Loan, Borrowers Loan Borrower shall cause Mortgage Borrowers to establish and maintain a segregated Eligible Account account (the “Lockbox Account”) with the Lockbox Bank in trust for the benefit of Mortgage Lender, which Lockbox Account shall be under the sole dominion and control of Mortgage Lender pursuant to and in accordance with the Mortgage Loan Documents and shall comply with all of the terms and conditions set forth in Section 2.6.1 of the Mortgage Loan AgreementDocuments.
Appears in 2 contracts
Samples: Mezzanine Loan Agreement (Cole Credit Property Trust Inc), Mezzanine Loan Agreement (Cole Credit Property Trust III, Inc.)
Lockbox Account. (a) During the term of the Loan, Borrowers Borrower shall cause Mortgage Borrowers Borrower to establish and maintain a segregated Eligible Account an account (the “Lockbox Account”) with Lockbox Bank in trust for the benefit of Mortgage Lender, which Lockbox Account shall be under the sole dominion and control of Mortgage Lender pursuant to and in accordance with the Mortgage Loan Documents and shall comply with all of the terms and conditions set forth in Section 2.6.1 of the Mortgage Loan AgreementDocuments.
Appears in 2 contracts
Samples: Loan Agreement (Maguire Properties Inc), Loan Agreement (Maguire Properties Inc)
Lockbox Account. (a) During the term of the Loan, Borrowers Borrower shall cause Mortgage Borrowers Borrower to establish and maintain a segregated Eligible Account (the “Lockbox Account”) with the Lockbox Bank in trust for the benefit of Mortgage Lender, which Lockbox Account shall be under the sole dominion and control of Mortgage Lender pursuant to and in accordance with the Mortgage Loan Documents and Documents. The Lockbox Account shall comply with all be entitled “Park Central Hotel (DE) LLC, for the benefit of the terms and conditions set forth in Section 2.6.1 of the Mortgage Loan AgreementColumn Financial, Inc.-Lockbox Account.”
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Samples: First Mezzanine Loan Agreement (KBS Real Estate Investment Trust, Inc.)
Lockbox Account. (a) During the term of the Loan, Borrowers Borrower shall cause Mortgage Borrowers Borrower to establish and maintain with respect to each Individual Property a segregated Eligible Account (collectively, the “Lockbox Account”) with Lockbox Bank in trust for the benefit of Mortgage Lender, which Lockbox Account shall be under the sole dominion and control of Mortgage Lender pursuant to and in accordance with the Mortgage Loan Documents and shall comply with all of the terms and conditions set forth in Section 2.6.1 of the Mortgage Loan AgreementDocuments.
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