Mezzanine Collection Account Sample Clauses

Mezzanine Collection Account. (a) Lender or Servicer may establish and maintain, to collect all amounts distributed to Lender under Section 2.6.3 of the Mortgage Loan Agreement, a segregated Eligible Account (the “Mezzanine Collection Account”) to be held by Servicer in trust for the benefit of Lender, which Mezzanine Collection Account shall be under the sole dominion and control of Lender (which may be exercised through Servicer). Lender (and its agents, including Servicer) shall have the sole right to make withdrawals from the Mezzanine Collection Account in accordance with the terms and conditions of this Agreement and the other Loan Documents, except as otherwise expressly provided in this Agreement or the other Loan Documents. Borrower shall cause Senior Mezzanine Borrower to comply with Section 2.6.4 of the Senior Mezzanine Loan Agreements.
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Mezzanine Collection Account. (a) Borrower hereby grants to Lender a first priority security interest in the Mezzanine Collection Account and all deposits at any time contained therein and the proceeds thereof and shall take all actions necessary to maintain in favor of Lender a perfected first priority security interest in the Mezzanine Collection Account, including filing UCC financing statements and continuations thereof. Borrower shall not in any way alter or modify the Mezzanine Collection Account. All costs and expenses for establishing and maintaining the Mezzanine Collection Account shall be paid by Borrower. This Agreement, together with the Mezzanine Cash Management Agreement and other Loan Documents, creates a valid and continuing security interest (as defined in the Uniform Commercial Code of the State of Delaware and New York) in the Mezzanine Collection Account in favor of Lender, which security interest is prior to all other Liens, other than Permitted Encumbrances, and is enforceable as such against creditors of and purchasers from Borrower. The Mezzanine Collection Account constitutes a “deposit account” within the meaning of the Uniform Commercial Code of the State of Delaware.
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Mezzanine Collection Account. Pursuant to the Mezzanine Collection Account Agreement, the Borrowers have opened and shall maintain at the Mezzanine Collection Account Bank a trust account (the "MEZZANINE COLLECTION Account"), and the Mezzanine Collection Account Bank shall not commingle the amounts in such account with any other amounts held on behalf of any Person except Borrowers. The Mezzanine Collection Account has been assigned an identification number by the Mezzanine Collection Account Bank and shall be maintained in the name "RHD Capital Ventures LLC as Secured Party of Xxxxxx Hotels Corporation and Xxxxxx Hotels Properties Corp." No Borrower shall have any right of withdrawal from the Mezzanine Collection Account. Borrowers shall cause any Person who owes any item of Gross Revenue to either Borrower to pay such item directly into the Mezzanine Collection Account. Without in any way limiting Borrowers' obligations pursuant to the preceding sentence, Borrowers shall deposit all items of Gross Revenue which are received by Borrowers in violation of the preceding sentence within one Business Day after receipt thereof directly into the Mezzanine Collection Account. Any breach of this SECTION 2.9(A) by either Borrower shall be an Event of Default.
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Mezzanine Collection Account. (a) Lender or Servicer may establish and maintain, to collect all amounts distributed to Lender under Section 2.6.3 of the Mortgage Loan Agreement, a segregated Eligible Account (the “Mezzanine Collection Account”) to be held by Servicer in trust for the benefit of Lender, which Mezzanine Collection
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Mezzanine Collection Account. All sums deposited into the Mezzanine Collection Account shall be held and disbursed in accordance with the terms of the Mezzanine Cash Management Agreement.
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Related to Mezzanine Collection Account

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Deposits to the Collection Account On behalf of the Trust Fund, the Master Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Master Servicer's receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, and retain therein, the following payments and collections received or made by it subsequent to the Cut-off Date with respect to the Mortgage Loans, or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto:

  • The Collection Account (a) The Trust Administrator shall establish and maintain in the name of the Notes Intermediary the Collection Account as provided in Section 5.07, which account shall be pledged to the Indenture Trustee for the benefit of the Noteholders.

  • Deposits to Collection Account The Servicer shall use its best efforts to deposit or cause to be deposited (without duplication), within two (2) Business Days after receipt thereof, into the Collection Account and retain therein in trust for the benefit of the Grantor Trust Holder:

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • Collection Account (a) On the Closing Date, the Master Servicer shall open and shall thereafter maintain a segregated account held in trust (the “Collection Account”), entitled “Collection Account, Aurora Loan Services Inc., as Master Servicer, in trust for the benefit of the Holders of Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2004-10.” The Collection Account shall relate solely to the Certificates issued by the Trust Fund hereunder, and funds in such Collection Account shall not be commingled with any other monies.

  • Master Servicer Collection Account (a) The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer Collection Account shall be an Eligible Account. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts:

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