Clearing Account Cash Management Sample Clauses

Clearing Account Cash Management. The provisions of Section 2.7 of the Building Loan Agreement are incorporated herein by reference as if fully set forth herein
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Clearing Account Cash Management. On or prior to the Closing Date, Borrower shall, at its sole cost and expense, cause each of the following to occur to the satisfaction of Lender (collectively, the “Cash Management Conditions”): (a) Borrower shall establish an Eligible Account (the “Clearing Account”) with an Eligible Institution selected by Borrower and approved by Lender (the “Clearing Bank”); (b) Borrower shall cause the Clearing Bank to execute and deliver the Clearing Account Agreement in accordance with Section 2.7.1(b); (c) Borrower shall establish an Eligible Account (the “Cash Management Account”) with an the Cash Management Bank designated by Lender pursuant to and in accordance with the Cash Management Agreement and Section 2.7.2 hereof; (d) Borrower shall deliver a Payment Direction Letter to the Tenant under any Lease then or thereafter in effect and provide Lender with reasonably satisfactory evidence that the Tenant under such Lease has confirmed that it shall comply with the terms thereof; (e) Borrower will take all actions necessary to establish and maintain in favor of Lender a perfected first priority security interest in the Clearing Account and Cash Management Account and all deposits at any time contained in either such account and the proceeds thereof, including, without limitation, executing and filing UCC-1 Financing Statements; (f) Borrower shall deliver to Lender an opinion of Borrower’s counsel with respect to the due execution, authority, enforceability of the Cash Management Agreement and Clearing Account Agreement and confirming that Lender has first priority perfected security interest in the Cash Management Account and Clearing Account and such other matters as Lender may reasonably require, all such opinions in form, scope and substance satisfactory to Lender and Lender’s counsel; and (g) Borrower shall reimburse Lender for any and all cost and expenses, including reasonable attorney’s fees and disbursements, resulting form the foregoing.
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Clearing Account Cash Management. On or prior to the Closing Date, Borrower shall, at its sole cost and expense, cause each of the following to occur to the satisfaction of Lender (collectively, the “Cash Management Conditions”): (a) Borrower shall establish an Eligible Account (the “Clearing Account”) with an Eligible Institution selected by Borrower and approved by Lender (the “Clearing Bank”); (b) Borrower shall cause the Clearing Bank to execute and deliver the Clearing Account Agreement in accordance with Section
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Clearing Account Cash Management 
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Related to Clearing Account Cash Management

  • Cash Management Account Borrower hereby represents and warrants to Lender that:

  • Clearing Account If the Servicer finds it necessary to use a clearing account, the following guidelines must be followed:

  • Cash Management System Each Borrower shall, and shall cause its Subsidiaries to, establish and maintain the Cash Management Systems described below:

  • Cash Management (a) Borrowers shall (i) establish and maintain cash management services of a type and on terms satisfactory to Agent at one or more of the banks set forth on Schedule 2.7(a) (each a "Cash Management Bank"), and shall request in writing and otherwise take such reasonable steps to ensure that all of its Account Debtors forward payment of the amounts owed by them directly to such Cash Management Bank, and (ii) deposit or cause to be deposited promptly, and in any event no later than the first Business Day after the date of receipt thereof, all Collections (including those sent directly by Account Debtors to a Cash Management Bank) into a bank account in Agent's name (a "Cash Management Account") at one of the Cash Management Banks.

  • Cash Management Systems On or prior to the Closing Date, Borrowers will establish and will maintain until the Termination Date, the cash management systems described in Annex C (the “Cash Management Systems”).

  • Cash Management Services Funds received by Transfer Agent in the course of performing its services hereunder will be held in demand deposit bank accounts or money market fund accounts in the name of Transfer Agent (or its nominee) as agent for the Funds.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Cash Management Agreement 11 SECTION 7 – TAXES, REPORTS AND RECORDS............................................................ 11

  • Deposit Accounts, Securities Accounts and Commodity Accounts Attached hereto as Schedule 14 is a true and complete list of all Deposit Accounts, Securities Accounts and Commodity Accounts (each as defined in the Security Agreement) maintained by each Pledgor, including the name of each institution where each such account is held, the name of each such account and the name of each entity that holds each account.

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