Examples of Custodial and Paying Agency Agreement in a sentence
Debtor shall ensure that the Purchase Money Notes Guarantor receives a copy of each demand, notice or other communication given pursuant to the Custodial and Paying Agency Agreement at the time that such notice or other communication is given thereunder.
Debtor shall retain the Custodian/Paying Agent and shall enter into and at all times be a party to a Custodial and Paying Agency Agreement with the Custodian/Paying Agent.
Debtor will duly and punctually pay, or cause the Custodian/Paying Agent to pay, the principal of the Purchase Money Notes in accordance with the terms of the Purchase Money Notes, this Agreement and the Custodial and Paying Agency Agreement and from moneys on deposit in the Defeasance Account.
Each Grantor hereby guaranties that payments pursuant to this Article VI will constitute Underlying Loan Proceeds and will be deposited into the Collection Account, to be applied in accordance with the Priority of Payments (as defined in the Custodial and Paying Agency Agreement).
The Monthly Report shall also include a certification of the Manager that all withdrawals by the Manager from the Collection Account during such Due Period were made in accordance with the terms of this Agreement and the Custodial and Paying Agency Agreement.
Debtor shall also cause to be furnished to each of the Initial Member, the Collateral Agent and the Purchase Money Notes Guarantor the Custodian and Paying Agent Report in accordance with the terms of the Custodial and Paying Agency Agreement.
On each Distribution Date, Debtor will direct the Custodian/Paying Agent to distribute amounts on deposit in the Distribution Account to Collateral Agent in payment of any amounts owed by Debtor to Purchase Money Notes Guarantor or Collateral Agent pursuant to this Agreement, subject to the priority of payments set forth in Section 5.1 of the Custodial and Paying Agency Agreement and the other terms thereof.
The Custodian/Paying Agent at all times shall have custody and possession of the Underlying Notes and other Custodial Documents to the extent required pursuant to the Custodial and Paying Agency Agreement.