Deposit Control Account definition
Examples of Deposit Control Account in a sentence
Upon the issuance of the Notice of Commercial Operation, Developer’s obligation to provide Development Security shall cease and the funds in the Deposit Control Account shall instead be used to cover the cost of decommissioning the PV System and restoring the Premises as specified in this Agreement (such assurance, the “Decommissioning Assurance”).
On or before the First Amendment Effective Date, the Grantor shall execute and deliver to the Subordinated Collateral Agent a Deposit Control Account Agreement for a deposit account (the “Collateral Deposit Account”) maintained with the Bank Agent.
Deposit Control Account, but excluding the capitalized value of the ground lease and the tenant relocation costs.
On or before the Closing Date, the Grantor shall execute and deliver to the Administrative Agent a Deposit Control Account Agreement for a deposit account with account number 758660021 in the name of the Grantor maintained with JPMorgan Chase Bank, N.A. (such account, or such other accounts as are reasonably acceptable to the Administrative Agent, the “Collateral Deposit Account”).
Obligor shall own the Deposit Account free and clear of all liens, encumbrances, or interests of any third party (except any banker’s lien which attaches to the account by law, which shall be subordinate under the Deposit Control Account Agreement, to the interest of Secured Party hereunder) and will keep the Deposit Account free of all liens, claims, security interests and encumbrances of any kind or nature, whether voluntary or involuntary.
The Development Security shall be deposited in the Deposit Control Account within five (5) Business Days after the Effective Date.
On or before the Fourth Amendment Effective Date, the Grantor shall execute and deliver to the Subordinated Collateral Agent a Deposit Control Account Agreement for a deposit account with account number 758660021 in the name of the Grantor maintained with JPMorgan Chase Bank, N.A. (such account, or such other accounts as are reasonably acceptable to the Subordinated Collateral Agent, the “Collateral Deposit Account”).
To secure its obligations under this Agreement, Developer hereby grants to CVEC, as the secured party, a present and continuing security interest in, and lien on (and right of setoff against), and assignment of, all funds in the Deposit Control Account.
The Company shall establish and maintain a bank account for the Holder (the “Deposit Control Account”) at the Deposit Control Account Bank, which Deposit Control Account shall be subject to the Deposit Control Agreement.
Such security interest constitutes a valid, first priority security interest in the Collateral, and will constitute a valid, first priority security interest in later-acquired Collateral put in the Deposit Control Account.