Remittance Procedures. Subject to its ability to apply collections received to the Unfunded Exposure Account after the end of the Reinvestment Period as set forth in Section 2.18(a), the Borrower shall cause the Collateral Manager and, if it fails to do so, the Administrative Agent may, instruct the Collateral Agent, to apply funds on deposit in the Controlled Accounts as described in this Section 2.04; provided that, at any time after delivery of Notice of Exclusive Control (as defined in the Securities Account Control Agreement) during the occurrence and continuance of an Event of Default, the Administrative Agent shall instruct the Collateral Agent to apply funds on deposit in the Controlled Accounts as described in this Section 2.04.
Appears in 4 contracts
Samples: Loan and Security Agreement (FS Investment Corp III), Loan and Servicing Agreement (FS Investment Corp II), Loan and Servicing Agreement (FS Energy & Power Fund)
