Common use of Private Owner Pledged Account Clause in Contracts

Private Owner Pledged Account. (a) On the date hereof, the Private OVvner shall establish the "Private Owner Pledged Account" with the Paying Agent (the "Private Owner Pledged Account") for the exclusive purpose of holding Qualifying Cash Collateral, whether such Qualifying Cash Collateral is delivered on the date hereof or subsequent to the date hereof in full and complete substitution for a Qualifying Letter of Credit pursuant to the LLC Operating Agreement or upon the liquidation or drawing down of a Qualifying Letter of Credit pursuant to the LLC Operating Agreement. The Private Owner Pledged Account (and all funds and Pennitted Investments therein or allocated thereto) shall be held by the Paying Agent in a segregated account subject to the security interest granted for the benefit of the Initial Member pursuant to the LLC Operating Agreement, this Agreement and the Private Owner Pledged Account Control Agreement in substantially the form attached hereto as Exhibit 0. In no event shall the Private Owner have any right or authority to withdraw any funds from the Private Owner Pledged Account except as expressly provided in Section 3.9(b) below. The Paying Agent shall invest the amounts on deposit in the Private Ovmer Pledged Account in Permitted Investments in accordance with investment directions from the Private Owner but with matmities that allow for their transfer in accordance with this Section 3.9.

Private Owner Pledged Account. (a) On the date hereof, the Private OVvner Owner shall establish the "Private Owner Pledged Account" Account with the Paying Agent (the "Private Owner Pledged Account") for the exclusive purpose of holding Qualifying Cash Collateral, whether such Qualifying Cash Collateral is delivered on the date hereof or subsequent to the date hereof in full and complete substitution for a Qualifying Letter of Credit pursuant to the LLC Operating Agreement Agreement, or if the proceeds of such Qualifying Letter of Credit are to be deposited in such Private Owner Pledged Account upon the liquidation or drawing down of a Qualifying Letter of Credit thereof pursuant to Section 3.13(f) of the LLC Operating Agreement. The Private Owner Pledged Account (and all funds and Pennitted Investments therein or allocated theretotherein) shall be held by the Paying Agent in a segregated account subject to the security interest granted for the benefit of the Initial Member pursuant to the LLC Operating Agreement, this Agreement and the Private Owner Pledged Account Control Agreement in substantially the form attached hereto to this Agreement as Exhibit 0. Q. In no event shall the Private Owner have any right or authority to withdraw any funds from the Private Owner Pledged Account except as expressly provided in Section 3.9(b) below. The Paying Agent shall invest the amounts on deposit in the Private Ovmer Owner Pledged Account in Permitted Investments in accordance with investment directions from the Private Owner but with matmities maturities that allow for their transfer in accordance with this Section 3.9.

Private Owner Pledged Account. (a) On the date hereof, the Private OVvner Owner shall establish the "Private Owner Pledged Account" with the Paying Agent (the "Private Owner Pledged Account") for the exclusive purpose of holding Qualifying Cash Collateral, whether such Qualifying Cash Collateral is delivered on the date hereof or subsequent to the date hereof in full and complete substitution for a Qualifying Letter of Credit pursuant to the LLC Operating Agreement or upon the liquidation or drawing down of a Qualifying Letter of Credit pursuant to the LLC Operating Agreement. The Private Owner Pledged Account (and all funds and Pennitted Permitted Investments therein or allocated thereto) shall be held by the Paying Agent in a segregated account subject to the security interest granted for the benefit of the Initial Member pursuant to the LLC Operating Agreement, this Agreement and the Private Owner Pledged Account Control Agreement in substantially the form attached hereto as Exhibit 0. Q. In no event shall the Private Owner have any right or authority to withdraw any funds from the Private Owner Pledged Account except as expressly provided in Section 3.9(b) below. The Paying Agent shall invest the amounts on deposit in the Private Ovmer Owner Pledged Account in Permitted Investments in accordance with investment directions from the Private Owner but with matmities maturities that allow for their transfer in accordance with this Section 3.9.

Private Owner Pledged Account. (a) On the date hereofAgreement Date, the Private OVvner shall Owner is to establish the "“Private Owner Pledged Account" ” with the Paying Agent (the "“Private Owner Pledged Account"”) for the exclusive purpose of holding Qualifying Cash Collateral, whether such Qualifying Cash Collateral is delivered on the date hereof Agreement Date or subsequent to the date hereof Agreement Date in full and complete substitution for a Qualifying Letter of Credit pursuant to the LLC Operating Agreement or upon the liquidation or drawing down of a Qualifying Letter of Credit pursuant to the LLC Operating Agreement. The Private Owner Pledged Account (and all funds and Pennitted Permitted Investments therein or allocated thereto) shall are to be held by the Paying Agent in a segregated account subject to the security interest granted for the benefit of the Initial Member pursuant to the LLC Operating Agreement, this Agreement and the Private Owner Pledged Account Control Agreement in substantially the form attached hereto to this Agreement as Exhibit 0. Q. In no event shall will the Private Owner have any right or authority to withdraw any funds from the Private Owner Pledged Account except as expressly provided in Section 3.9(b) below). The Paying Agent shall is to invest the amounts on deposit in the Private Ovmer Owner Pledged Account in Permitted Investments in accordance with investment directions from the Private Owner but with matmities maturities that allow for their transfer in accordance with this Section 3.9.