Common use of Deposit of Proceeds Clause in Contracts

Deposit of Proceeds. (a) Within (i) fourteen (14) business days after the Sale Commencement Date, with respect to cash transactions, and (ii) fourteen (14) days after the Sale Commencement Date, with respect to credit card transactions (as and where applicable the "Merchant Account Usage Period"), Agent shall establish its own accounts, dedicated solely for the deposit of the Proceeds and the disbursement of amounts payable to Agent hereunder, which accounts may be the Designated Merchant Accounts (as defined below) so long as Merchant, Agent and the Lender Agent agree (the "Agency Accounts") and Merchant shall promptly upon Agent's request execute and deliver all necessary documents to open and maintain the Agency Accounts; provided however, in the event that Agent establishes a reasonable business justification therefore, Merchant and Lender Agent shall consent to an appropriate extension of the applicable Merchant Account Usage Period. Agent shall exercise sole signatory authority and control with respect to the Agency Accounts; provided however, upon request, Agent shall deliver to Merchant copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for and Agent shall pay as an Expense hereunder, all bank fee and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term. Upon Agent's designation of the Agency Accounts, all Proceeds of the Sale (including credit card proceeds) shall be deposited into the Agency Accounts.

Deposit of Proceeds. (a) Within (i) fourteen (14) business days after Prior to the issuance of the Store Final Inventory Report and payment of the undisputed Remaining Guaranteed Amount, all Proceeds of the Sale Commencement Date, with respect to cash transactions, and (ii) fourteen (14) days after the Sale Commencement Date, with respect to including credit card transactions proceeds) shall be collected by Agent and deposited on a daily basis into depository accounts designated by Merchant (subject to the liens of GECC and the Indenture Trustee to the extent of the Agent’s Payment Obligations (as and where applicable defined in Section 16 hereof) for the "Merchant Account Usage Period")Stores, Agent which accounts shall establish its own accounts, dedicated be designated solely for the deposit of Proceeds of the Sale (including credit card proceeds), and the disbursement of amounts payable by Agent hereunder (the “Designated Deposit Accounts”). The Designated Deposit Accounts shall be dedicated solely to the deposit of Proceeds and the disbursement of amounts payable to Agent hereunder, which accounts may be the Designated Merchant Accounts (as defined below) so long as Merchant, Agent and the Lender Agent agree (the "Agency Accounts") and Merchant shall promptly upon Agent's request execute and deliver all necessary documents to open and maintain (or GECC, as the Agency Accounts; provided however, in the event that Agent establishes a reasonable business justification therefore, Merchant and Lender Agent shall consent to an appropriate extension of the applicable Merchant Account Usage Period. Agent case may be) shall exercise sole signatory authority and control with respect to the Agency Accounts; provided howeverDesignated Deposit Accounts subject in all respects to the first lien and security interests in, upon and control of, such Designated Deposit Accounts by GECC and the Lenders. Upon request, Agent Merchant shall deliver to Merchant Agent copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for for, and Agent shall pay as an Expense hereunder, all bank fee fees and charges, including wire transfer charges, related to the Agency Designated Deposit Accounts, whether received during or after the Sale Term. Upon Agent's designation Proceeds in the Designated Deposit Accounts shall be transferred daily to a concentration account maintained under the control of GECC (the “Concentration Account”). Amounts in the Concentration Account shall be subject to disbursement as set forth in Section 3.3. All Augment Proceeds will be distributed to Agent upon receipt by the Merchant and the Lenders of the Agency Accounts, all Proceeds of the Sale (including credit card proceeds) shall be deposited into the Agency Accountsweekly reconciliation report provided in accordance with Section 8.7 below.

Deposit of Proceeds. All cash Proceeds shall be deposited in existing accounts of Merchant (a) Within (i) fourteen (14) business days after the Sale Commencement Date, with respect to cash transactions, and (ii) fourteen (14) days after the Sale Commencement Date, with respect to credit card transactions (as and where applicable the "Merchant Account Usage Period"), Agent shall establish its own such accounts, dedicated solely for the deposit of the Proceeds and the disbursement of amounts payable to Agent hereunder, which accounts may be the Designated Merchant Accounts (as defined below) so long as Merchant, Agent and the Lender Agent agree (the "“Agency Accounts") and Merchant shall promptly upon Agent's request execute and deliver all necessary documents to open and maintain the Agency Accounts; provided however, in the event that Agent establishes a reasonable business justification therefore, ”). Merchant and Lender Agent shall consent to an appropriate extension of the applicable Merchant Account Usage Period. Agent its lender, General Electric Capital Corporation (“GECC”) shall exercise sole signatory authority and control with respect to the Agency Accounts; provided however. Proceeds collected in the Agency Accounts shall be reconciled weekly in accordance with Section 8.8 hereof and, immediately after such reconciliation, Merchant shall pay to Agent any amounts due under Section 3.3 hereof. After payment of the Guaranteed Amount, (a) Agent shall have the right (but not the obligation) to open new accounts for which Agent shall exercise sole signatory authority into which all cash Proceeds of the Store Closing Sale shall be deposited, and (b) to the extent that Agent shall elect to continue to use the Agency Accounts, (i) all Proceeds deposited in such accounts will constitute the property of Agent and shall be held in trust by Merchant for Agent, and (ii) commencing on the first business day following the date upon which the Guaranteed Amount is paid in full, and on each business day thereafter, Merchant shall pay to Agent by wire funds transfer all collected funds constituting Proceeds deposited in such accounts. At any time during the Sale Term, upon requestrequest by Agent, Agent Merchant shall deliver to Merchant copies Agent documentation reflecting the deposit and wire transfers of all bank statements and other information relating to such accountsProceeds. Merchant shall not be responsible for and Agent shall pay as an Expense hereunder, all bank fee fees and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term. Upon Agent's designation of the Agency Accounts, all Proceeds of the Sale (including credit card proceeds) shall be deposited into the Agency Accounts.

Deposit of Proceeds. (a) Within (i) fourteen (14) business days Merchandise Agency Account. From and after the Sale Commencement Closing Date, with all Sale Proceeds and amounts collected in respect to cash transactions, and of Sales Taxes shall be deposited by Agent in agency accounts established by Agent (ii) fourteen (14) days after the Sale Commencement Date, with respect to credit card transactions (as and where applicable the "Merchant Account Usage PeriodAgency Accounts"). Agent may, in its discretion, designate new or existing accounts of Agent shall establish its own accountsor Merchant as the Agency Accounts, provided that such accounts are dedicated solely for to the deposit of the Sale Proceeds and the disbursement of amounts payable to by Agent hereunder, which accounts may be . Agent shall exercise sole signatory authority and control with respect to the Designated Merchant Accounts (as defined below) so long as Merchant, Agent and the Lender Agent agree (the "Agency Accounts") and . Merchant shall promptly upon Agent's request execute and deliver all necessary documents to open and maintain the Agency Accounts; provided however, in . To the event extent that Agent establishes a reasonable business justification therefore, shall elect to use existing accounts of Merchant and Lender Agent shall consent to an appropriate extension of the applicable Merchant Account Usage Period. Agent shall exercise sole signatory authority and control with respect to as the Agency Accounts; provided however, (a) all Sale Proceeds deposited in such accounts will constitute the property of Agent and shall be held in trust by Merchant for Agent, (b) commencing on the first business day following the Closing Date, and on each business day thereafter, Merchant shall pay to Agent by wire funds transfer all collected funds constituting Sale Proceeds deposited in such accounts, and (c) upon request, Agent Merchant shall deliver to Merchant Agent copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for and Agent shall pay as an Expense hereunder, all bank fee fees and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term. Upon Agent's designation of the Agency Accounts, all Proceeds of the Sale (including credit card proceeds) shall be deposited into the Agency Accounts.

Deposit of Proceeds. (a) Within (i) fourteen From and after payment in full of the Guaranteed Amount (14) business days after whether through collection of Proceeds or exercise of the Sale Commencement Date, with respect to cash transactions, and (ii) fourteen (14) days after the Sale Commencement Date, with respect to credit card transactions (as and where applicable the "Merchant Account Usage Period"Option), Agent shall may establish its own accounts, dedicated solely for the deposit of the Proceeds and the disbursement of amounts payable to Agent hereunder, which accounts may be the Designated Merchant Accounts (as defined below) so long as Merchant, Agent and the Lender Agent agree hereunder (the "“Agency Accounts"”) and Merchant shall promptly promptly, upon Agent's request ’s reasonable request, execute and deliver all necessary documents to open and maintain the Agency Accounts; provided provided, however, Agent may elect to continue to use Merchant’s Designated Deposit Accounts (as defined below) as the Agency Accounts. Provided the Security Conditions are satisfied OR the Guaranteed Amount has been paid in the event that Agent establishes a reasonable business justification thereforefull, Merchant and Lender Agent shall consent to an appropriate extension of the applicable Merchant Account Usage Period. Agent shall exercise sole signatory authority and control with respect to the Agency Accounts (provided that, if Agent uses the Merchant Designated Deposit Accounts as the Agency Accounts; provided however, upon the Security Conditions must be satisfied in order for Agent to exercise sole signatory authority and control with respect thereto). Unless Agent uses the Merchant Designated Deposit Accounts as the Agency Accounts, the Agency Accounts shall be dedicated solely to the deposit of Proceeds and the distribution of amounts payable hereunder. Upon request, Agent shall deliver to Merchant copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for for, and Agent shall pay as an Expense hereunder, all bank fee and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term. Upon Agent's ’s notice to Merchant of Agent’s designation of the Agency Accounts, and provided the Security Conditions are satisfied, all Proceeds of the Sale (including credit card proceedsProceeds) shall be deposited into the Agency Accounts.

Deposit of Proceeds. This Section 7.2(a) shall apply in the event that the transaction is to be converted to a cash payment transaction pursuant to Section 3.5 hereof. All cash Proceeds shall be deposited by Agent in agency accounts established by Agent (a) Within (i) fourteen (14) business days after the Sale Commencement Date, with respect to cash transactions, and (ii) fourteen (14) days after the Sale Commencement Date, with respect to credit card transactions (as and where applicable the "Merchant Account Usage PeriodAgency Accounts"). Agent may, in its discretion, designate new or existing accounts of Agent shall establish its own accountsor Merchant as the Agency Accounts, provided that such accounts are dedicated solely for to the deposit of the Proceeds and the disbursement of amounts payable to by Agent hereunder, which accounts may be . Agent shall exercise sole signatory authority and control with respect to the Designated Merchant Accounts (as defined below) so long as Merchant, Agent and the Lender Agent agree (the "Agency Accounts") and . Merchant shall promptly upon Agent's request execute and deliver all necessary documents to open and maintain the Agency Accounts; provided however, in . To the event extent that Agent establishes a reasonable business justification therefore, shall elect to use existing accounts of Merchant and Lender Agent shall consent to an appropriate extension of the applicable Merchant Account Usage Period. Agent shall exercise sole signatory authority and control with respect to as the Agency Accounts; provided however, (a) all Proceeds deposited in such accounts will constitute the property of Agent and shall be held in trust by Merchant for Agent, (b) commencing on the first business day following the Sale Commencement Date, and on each business day thereafter, Merchant shall pay to Agent by wire funds transfer all collected funds constituting Proceeds deposited in such accounts, and (c) upon request, Agent Merchant shall deliver to Merchant Agent copies of all bank statements and other information relating to such accounts. Merchant shall not be responsible for and Agent shall pay as an Expense hereunder, all bank fee and charges, including wire transfer charges, related to the Agency Accounts, whether received during or after the Sale Term. Upon Agent's designation of the Agency Accounts, all Proceeds of the Sale (including credit card proceeds) shall be deposited into the Agency Accounts.such