THE CONCENTRATION, BLOCKED, AND OPERATING ACCOUNTS Sample Clauses

THE CONCENTRATION, BLOCKED, AND OPERATING ACCOUNTS. (a) The following checking accounts have been or will be established (and are so referred to herein):
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THE CONCENTRATION, BLOCKED, AND OPERATING ACCOUNTS. (a) The following accounts have been or will be established (and are so referred to herein):
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THE CONCENTRATION, BLOCKED, AND OPERATING ACCOUNTS. (a) The following checking accounts have been or will be established (and are so referred to herein): (i) The Concentration Account: Established by the Administrative Agent with BankBoston, N.A. (ii) The Blocked Account: Established by the Borrower with Fleet National Bank. (iii) The Operating Account: Established by the Borrower with BankBoston, N.A.. (b) The contents of each DDA (other than the Operating Account) and of the Blocked Account constitutes Collateral and Proceeds of Collateral. The contents of the Concentration Account constitutes the Collateral Agent's property. (c)
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THE CONCENTRATION, BLOCKED, AND OPERATING ACCOUNTS. (a) The following deposit accounts shall be established (and are so referred to herein): (i) The CONCENTRATION ACCOUNT: At the Agent's election, either the Blocked Account or an account established by the Agent with BankBoston, N.A. (ii) The BLOCKED ACCOUNT: Established by the Borrowers with Chase Manhattan Bank and the other depository institutions set forth on Exhibit 7.3(a)(ii) into which deposits must be directed and from which the Borrowers shall not make disbursements. (iii)
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THE CONCENTRATION, BLOCKED, AND OPERATING ACCOUNTS. (a) The following checking accounts have been or will be established (and are so referred to herein): (i) The Concentration Account: Established by the Lender with BankBoston, N.A. (ii) The Blocked Account: Established by the Borrowers with Bank of America. (iii) The Operating Account: Established by the Borrowers with Bank of America. (b) The contents of each DDA (other than the Operating Account) and of the Blocked Account constitutes Collateral and Proceeds of Collateral. The contents of the Concentration Account constitutes the Lender's property. (c) The Borrowers: (i) Contemporaneous with the execution of the within Agreement, shall provide the Lender with such agreement (generally referred to as a "Blocked Account Agreement") of the depository with which the Blocked Account is maintained as may be satisfactory to the Lender; and (ii) Shall not establish any Blocked Account prior written notice to the Lender and the hereafter except upon not less than Thirty (30) delivery to the Lender of a similar such days agreement. (d) The Borrowers shall pay all fees and charges of, and maintain such impressed balances as may be required by the Lender or by any bank in which any account is opened as required hereby (even if such account is opened by and/or is the property of the Lender). 7.4.
Sample 1
THE CONCENTRATION, BLOCKED, AND OPERATING ACCOUNTS. (a) The following checking accounts have been or will be established (and are so referred to herein): (ii) The "Concentration Account" (so referred to herein): Established by the Agent with Fleet National Bank. (iii) The "Blocked Account" (so referred to herein): Established by the Lead Borrower with PNC Bank and Bank One. (iv) The "Operating Account" (so referred to herein): Established by the Borrowers with PNC Bank.
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Related to THE CONCENTRATION, BLOCKED, AND OPERATING ACCOUNTS

  • Operating Accounts (a) Maintain all of Borrower’s and its Subsidiaries’ Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent.

  • Concentration Account Concentration Account" has the meaning set forth in Section 2.3.

  • Management Accounts The Management Accounts:

  • Operating Account To the extent funds are not required to be placed in a lockbox pursuant to any Loan Documents, Property Manager shall deposit all rents and other funds collected from the operation of the Property in a reputable bank or financial institution in a special trust or depository account or accounts for the Property maintained by Property Manager for the benefit of the Company (such accounts, together with any interest earned thereon, shall collectively be referred to herein as the “Operating Account”). Property Manager shall maintain books and records of the funds deposited in and withdrawals from the Operating Account. With funds from Company, Property Manager shall maintain the Operating Account so that an amount at least as great as the budgeted expenses for such month is in the Operating Account as of the first of each month. From the Operating Account, Property Manager shall pay the operating expenses of the Property and any other payments relative to the Property as required by this Agreement. If more than one account is necessary to operate the Property, each account shall have a unique name, except to the extent any Lender requires sub-accounts within any account. Within three (3) months after receipt by Property Manager, all rents and other funds collected in the Operating Account, after payment of all operating expenses, debt service and such amounts as may be determined by the Property Manager to be retained for reserves or improvements, shall be paid to the Company.

  • Blocked Accounts Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Project Accounts The Grantee agrees to establish and maintain for the Project either a separate set of accounts or accounts within the framework of an established accounting system, in a manner consistent with 49 C.F.R. § 18.20, or 49 C.F.R. § 19.21, as amended, whichever is applicable.

  • Depository Accounts Except to the extent that Manager has not complied with its obligations under Sections 2.4 and 5.2, Owner and Manager agree that Manager shall have no liability for loss of funds of Owner contained in the bank accounts for the Property maintained by Owner or Manager pursuant to this Agreement due to insolvency of the bank or financial institution in which its accounts are kept, whether or not the amounts in such accounts exceed the maximum amount of federal or other deposit insurance applicable with respect to the financial institution in question.

  • Account Agreement Lender shall have received the original of the Account Agreement executed by each of Cash Management Bank and Borrower.

  • Investment of Account Assets a. All contributions to the custodial account shall be invested in the shares of the Provident Trust Mutual Funds, Inc. or, if available, any other series of Provident Trust Mutual Funds, Inc. or other regulated investment companies for which Provident Trust Company serves as Investment Advisor or designates as being eligible for investment. Shares of stock of an Investment Company shall be referred to as “Investment Company Shares”. To the extent that two or more funds are available for investment, contributions shall be invested in accordance with the depositor’s investment election.

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