Reserves Accounts Sample Clauses

Reserves Accounts. If the Loan is made a part of a Securitization, Borrower acknowledges that all funds held by Lender in the Reserve Accounts in accordance with this Loan Agreement or the other Loan Documents shall be deposited in "eligible accounts" at "eligible institutions" or invested in "permitted investments" as then defined and required by the Rating Agencies, and this Loan Agreement will automatically be amended to so provide.
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Reserves Accounts. At the Closing, Borrowers acquired, among other things (i) a certain cash escrow account held at the Cypress Village Project in the amount of $2,250,612.81 (the "CYPRESS ESCROW") and (ii) a certain cash escrow account held at the Xxxxx-Run Project in the amount of $5,405,589.88 (the "XXXXX-RUN ESCROW"; and together with the Cypress Escrow, the "ACQUIRED ESCROWS"). Notwithstanding anything contained in this Article IV to the contrary, (i) the Xxxxx-Run Escrow shall be held in an Approved Bank Account and the amounts from time to time contained therein shall be used to fund any costs or expenses in respect of the Xxxxx-Run Project and (ii) the Cypress Escrow and all amounts from time to time contained therein shall be used by Borrowers in accordance with applicable Law, the May 6 Order and the Loan Agreement (including, without limitation, used by Borrowers to distribute to Affiliates of Borrowers if permitted by each of the foregoing). Borrowers grant to Agent, for the benefit of Lenders, a security interest in all Entrance Fee Deposits, security deposits, Acquired Escrows and any other sums held on deposit, in escrow, in trust or in reserve in connection with or in respect of the Projects (collectively, the "PROJECT FUNDS"), for the purpose of securing the Loan. Concurrently herewith, the Operators have granted to Agent for the benefit of Lenders a security interest in the Project Funds for the purpose of securing the Loan.
Sample 1

Related to Reserves Accounts

  • Securities Accounts If a Collateral Account is a securities account, the Financial Institution agrees that:

  • Control Accounts; Approved Deposit Accounts Each Loan Party shall (i) deposit in an Approved Deposit Account all Cash it receives, (ii) not establish or maintain any Securities Account or Commodities Account that is not a Control Account and (iii) not establish or maintain any Deposit Account other than an Approved Deposit Account, provided however that notwithstanding the foregoing, each Loan Party may (w) maintain zero-balance accounts for the purpose of managing local disbursements and collections and may maintain payroll, withholding tax and other fiduciary accounts, (x) maintain accounts into which amounts are paid by a governmental entity pursuant to one or more Health Care Laws so long as the amounts on deposit therein are transferred each Business Day to an Approved Deposit Account or any other account permitted to be so utilized under this Section 5.14, (y) maintain other accounts as long as the aggregate monthly average daily balance over the immediately preceding 12-month period for all such Loan Parties in all such other accounts does not exceed $3,000,000 at any time and (z) make pledges or cash deposits permitted by Section 6.02.

  • 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.

  • Collateral Accounts Evidence that the Collateral Accounts have been established;

  • Blocked Accounts Agent shall have received duly executed agreements establishing the Blocked Accounts or Depository Accounts with financial institutions acceptable to Agent for the collection or servicing of the Receivables and proceeds of the Collateral;

  • Reserve Accounts All reserves, escrows and deposit accounts required under the Loan Documents and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time and all proceeds, products, distributions or dividends or substitutions thereon and thereof;

  • Deposit Accounts and Securities Accounts Set forth on Schedule 4.15 (as updated pursuant to the provisions of the Security Agreement from time to time) is a listing of all of the Loan Parties’ and their Subsidiaries’ Deposit Accounts and Securities Accounts, including, with respect to each bank or securities intermediary (a) the name and address of such Person, and (b) the account numbers of the Deposit Accounts or Securities Accounts maintained with such Person.

  • Deposit Accounts Neither Borrower nor any Subsidiary shall maintain any Deposit Accounts, or accounts holding Investment Property, except with respect to which Lender has an Account Control Agreement.

  • Operating Accounts (a) Maintain all of Borrower’s and its Subsidiaries’ Collateral Accounts in accounts which are subject to a Control Agreement in favor of Collateral Agent.

  • Deposit Accounts; Securities Accounts The only Deposit Accounts or Securities Accounts maintained by any Grantor on the date hereof are those listed on Schedule 6 (Bank Accounts; Control Accounts), which sets forth such information separately for each Grantor.

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