Common use of Borrower’s Operating Account Clause in Contracts

Borrower’s Operating Account. Borrower shall establish and maintain an account (the “Borrower’s Operating Account”) at a bank selected by Borrower. Borrower may also establish and maintain subaccounts of Borrower’s Operating Account (which may be ledger or book entry accounts and not actual accounts). Any Funds distributed to Borrower’s Operating Account pursuant to Section 6.8.1(i)(B)(1) shall be used by Borrower only to pay for Operating Expenses and Capital Expenditures set forth in the Approved Annual Budget or reimburse Borrower for such Operating Expenses and Capital Expenditures, as applicable.