Maintenance of the Collateral Account Sample Clauses

Maintenance of the Collateral Account. In addition to, and not in lieu of, the obligation of the Financial Institution to honor entitlement orders and instructions as set forth in Section 3.2 hereof, the Financial Institution, the Grantor and the Secured Party agree that the Collateral Account shall be maintained as follows:
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Maintenance of the Collateral Account a. The Collateral Account. Custodian shall maintain such records and establish such accounts on its books as may be required from time to time to receive, hold and account for all cash and securities to be held as Collateral pursuant to this Agreement.
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Maintenance of the Collateral Account. (a) With the consent of the Agent, the Servicer may, so long as no Event of Default or Unmatured Event of Default shall have occurred and then be continuing, from time to time invest funds on deposit in the Collateral Account, reinvest proceeds of any such investments which may mature, and invest interest or other income received from any such investments, in each case in such Permitted Investments as the Servicer may select and notify to the Agent. In the event the bank maintaining the Collateral Account shall require that a separate account (the “Investment Account”) be maintained for purposes of giving effect to any investments contemplated herein, it shall be a condition precedent to such investment that such bank shall have entered into an agreement with the Agent acknowledging the control by the Agent over, and the security interest of the Agent in, such Investment Account and the Borrower and the Servicer shall otherwise take such actions as may be reasonably requested by the Agent to perfect the security interest of the Agent therein. None of the Agent, the Servicer, the Backup Servicer or any Secured Party shall be liable to the Borrower for, or with respect to, any decline in value of amounts on deposit in the Collateral Account which shall have been invested, pursuant to this Section 8.07.
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Maintenance of the Collateral Account. (a) At all times prior to the Termination Date, the Borrower shall cause certain Term Loans to be credited to the Collateral Account that (i) satisfy each of the eligibility requirements set forth in the definition of Eligible Loan (other than clauses (w), (ff) and (gg) of such definition) and (ii) are satisfactory to the Administrative Agent in its sole discretion (the “Collateral Account Loans”) in an amount necessary to cause the sum of (x) the Aggregate Outstanding Loan Balance of all Collateral Account Loans and (y) any cash on deposit in the Collateral Account to equal or exceed $3,000,000. All Collections, Recoveries or other proceeds or income received in connection with all Collateral Account Loans (the “Collateral Account Loan Proceeds”) shall be transferred into the Collateral Account within two (2) Business Days of receipt and, for the avoidance of doubt, shall be subject to the Lien of the Administrative Agent hereunder. Notwithstanding the foregoing or anything contrary in any of the Transaction Documents, the Borrower (or the Servicer on the Borrower’s behalf) may remove Collateral Account Loan Proceeds and Collateral Account Loans from the Collateral Account without the consent of the Administrative Agent (unless an Event of Default has occurred and is continuing), and any such Collateral Account Loan Proceeds or Collateral Account Loans so removed (and any Collateral Account Proceeds received thereon from and after the date of such removal) shall no longer be subject to the Lien of the Administrative Agent hereunder, so long as any such removal is performed in accordance with the Securities Account Control Agreement and the Collateral Custodian Agreement and does not cause a Collateral Account Shortfall; provided that, unless an Event of Default has occurred and is continuing, the Borrower (or the Servicer on the Borrower’s behalf) may without the consent of the Administrative Agent require that the Collateral Custodian return each Loan File of each Collateral Account Loan so removed from the Collateral Account (so long as such removal which does not cause a Collateral Account Shortfall).
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Maintenance of the Collateral Account 
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Related to Maintenance of the Collateral Account

  • Maintenance of Collateral Accounts Maintain any Collateral Account except pursuant to the terms of Section 6.6(b) hereof.

  • The Collateral Account (a) Upon receipt by the Collateral Agent of a Notice of Actionable Default, and until such time as the Actionable Default described therein is cured or waived, the Collateral Agent shall establish and maintain at its principal office an interest-bearing account that shall be entitled the “Encore Capital Collateral Account.” All moneys received by the Collateral Agent with respect to Collateral after receipt of a Notice of Actionable Default and until such time as the Actionable Default described therein is cured or waived shall be deposited in the Collateral Account and thereafter shall be held, applied and/or disbursed by the Collateral Agent in accordance with Section 9 hereof. In addition, (i) any other payments received, directly or indirectly, by any Secured Party of or with respect to any of the Secured Obligations from the Borrower or any Guarantor after the occurrence and during the continuance of an Actionable Default (including, without limitation, any amount of any balances held by any Secured Party for the account of the Borrower or any Guarantor or any other property held or owing by it to or for the credit or for the account of the Borrower or any Guarantor which has been set off or appropriated by it and any payments received upon the termination of any Rate Management Transaction prior to its stated termination date), (ii) any payment received by any Secured Party with respect to any of the Secured Obligations in an insolvency or reorganization proceeding or otherwise with respect to the Borrower or any Guarantor or (iii) any payment from a Guarantor received by any Secured Party with respect to any Secured Obligations, shall, in each case, promptly be delivered to the Collateral Agent and thereafter shall be held, applied and/or disbursed by the Collateral Agent in accordance with Section 9 hereof, provided that the foregoing clauses (i), (ii) and (iii) shall not apply to distributions by the Collateral Agent under Section 9 hereof. The Collateral Account at all times shall be subject to the exclusive dominion and control of the Collateral Agent. Each of the Borrower and each Guarantor hereby pledges, assigns and grants to the Collateral Agent, on behalf of and for the ratable benefit of the Secured Parties, a security interest in all of its right, title and interest in and to the Collateral Account and all funds which may from time to time be on deposit therein to secure the prompt and complete payment and performance of the Secured Obligations.

  • Maintenance of Collateral Borrower will maintain the Collateral in good working condition, and Borrower will not use the Collateral for any unlawful purpose. Borrower will immediately advise Silicon in writing of any material loss or damage to the Collateral.

  • MAINTENANCE OF DEPOSIT ACCOUNTS PSC shall maintain on behalf of Customer such deposit accounts as are necessary or desirable from time to time to enable PSC to carry out the provisions of this Agreement.

  • Establishment of Collateral Account The Securities Intermediary hereby confirms that:

  • Maintenance of Dominion Account Borrowers shall maintain Dominion Accounts pursuant to lockbox or other arrangements acceptable to Agent. Borrowers shall obtain an agreement (in form and substance satisfactory to Agent) from each lockbox servicer and Dominion Account bank, establishing Agent’s control over and Lien in the lockbox or Dominion Account, which may be exercised by Agent during any Sweep Trigger Period, requiring immediate deposit of all remittances received in the lockbox to a Dominion Account, and waiving offset rights of such servicer or bank, except for customary administrative charges. If a Dominion Account is not maintained with Bank of America, Agent may, during any Sweep Trigger Period, require immediate transfer of all funds in such account to a Dominion Account maintained with Bank of America. Agent and Lenders assume no responsibility to Borrowers for any lockbox arrangement or Dominion Account, including any claim of accord and satisfaction or release with respect to any Payment Items accepted by any bank.

  • Establishment of Collateral Accounts The Custodian hereby confirms and agrees that:

  • Maintenance of Accounts If an institution maintaining the Bank Accounts ceases to be a Qualified Institution, the Servicer will, with the Indenture Trustee’s assistance as necessary, move the Bank Accounts to a Qualified Institution within 30 days.

  • Maintenance of Account In addition to, and not in lieu of, the obligation of the Securities Intermediary to honor entitlement orders as agreed in Section 3 hereof, the Securities Intermediary agrees to maintain the Account as follows:

  • Special Collateral Account After an Event of Default has occurred -------------------------- and is continuing, all cash proceeds of the Collateral received by the Agent shall be deposited in a special deposit account with the Agent and held there as security for the Secured Obligations. The Agent shall invest any and all available funds deposited in such special deposit account, within five (5) business days after the date the relevant funds become available, in securities issued as fully guaranteed or insured by the United States Government or any agency thereof backed by the full faith and credit of the United States having maturities of three (3) months from the date of acquisition thereof (collectively, "Government Obligations"). The Assignor hereby acknowledges and agrees that the Agent shall not have any liability with respect to, and the Assignor hereby indemnifies the Agent against, any loss resulting from the acquisition of the Government Obligation and the Agent shall not have any obligation to monitor the trading activity of any such Governmental Obligations on and after the acquisition thereof for the purpose of obtaining the highest possible return with respect thereto, the Agent's responsibility being limited to acquiring such Governmental Obligations.

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