Creation of Accounts Clause Samples
Creation of Accounts. (a) The Escrow Agent agrees to establish and maintain two (2) accounts at Citibank, N.A.: (i) a segregated deposit account for the benefit of Holdings, Administrative Agent and Parallel (collectively, the “Holdings Escrow Account”) and (ii) a segregated deposit account for the benefit of Parallel and the Administrative Agent (the “Parallel Deposit Account”). Upon the closing of the Offer, Holdings caused the Commitment Amount to be delivered to the Escrow Agent in accordance with instructions provided by the Escrow Agent, and the Escrow Agent is hereby instructed to deposit the Commitment Amount in the Holdings Escrow Account and to hold in escrow in the Holdings Escrow Account in accordance with this Agreement the Commitment Amount, together with all earnings thereon, if any, after the date hereof (the Commitment Amount, inclusive of all earnings thereon, being referred to as the “Escrow Funds”). The Escrow Agent acknowledged receipt of the Commitment Amount. Whenever and to the extent Escrow Funds are distributed pursuant to the Equity Issuance Instructions provided for in Section 3(a) of this Agreement (the “Distributed Funds”), the Escrow Agent is hereby instructed to deposit such Distributed Funds in the Parallel Deposit Account and to hold in escrow in the Parallel Deposit Account in accordance with this Agreement the Distributed Funds together with all earnings thereon, if any, after the date hereof (the Distributed Funds, inclusive of all earnings thereon, if any, being referred to as the “Deposit Funds”).
(b) In the event any Senior Notes are to be placed into escrow under Section 3(d) of this Agreement, Holdings and Parallel agree to use commercially reasonable efforts to establish an investment account (the “Bond Account”) with an escrow agent other than the Escrow Agent named herein which will perform the functions set forth in Section 3(d) (the “Bond Agent”), and Holdings and Parallel further agree that Section 3(d) will govern with respect to the Senior Notes and the Bond Account. The Administrative Agent will assist Holdings and Parallel in connection with finding a Bond Agent. The Escrow Agent, in such capacity, shall not have any duties or obligations with respect to Section 3(d), any Senior Notes or the Bond Account. If and when a Bond Account is established, the Bond Agent will execute and deliver an amendment to this Agreement or an ancillary agreement agreed upon by Parallel, Holdings, Administrative Agent and the Bond Agent. Unless ot...
Creation of Accounts. (a) The Administrative Agent hereby establishes the following 16 special, segregated and irrevocable cash collateral accounts in the name of the Administrative Agent and for the benefit of the Secured Parties, which accounts shall be maintained by the Administrative Agent at all times until the termination hereof and the payment in full of all Obligations:
Creation of Accounts. In accordance with Section 8.02 of the Amended and Restated Depository Agreement, the Department hereby creates and establishes with the Trust Company, but not within the Treasury of the State of Texas, a number of separate, special trust accounts relating to the Bonds to be known and designated by the respective names set forth on Exhibit “A” attached hereto. Each Account shall correspond to the Trust Indenture Account of the same name.
Creation of Accounts. Upon the Bank's reasonable request, the -------------------- Borrowers will upon the creation of Accounts, or at such intervals as the Bank may require, provide the Bank with, (i) confirmatory assignment schedules, (ii) copies of customer's invoices, (iii) evidence of shipment or delivery, and (iv) such further schedules, documents and/or information regarding the Accounts as the Bank reasonably may require. The Bank shall have the right to confirm and verify all Accounts and do whatever the Bank reasonably may deem necessary to protect the Bank's interests. The items to be provided under this Section are to be in forms satisfactory to the Bank and executed by the Borrowers and delivered to the Bank, from time to time, solely for the Bank's convenience in maintaining records of the Collateral. The failure to deliver any of such items to the Bank shall not affect, terminate, modify or otherwise limit the Bank's Liens.
Creation of Accounts. Depositary Agent hereby establishes at its office located in New York, New York, the following special, segregated and irrevocable money collateral accounts and sub-accounts within such accounts which shall be maintained at all times until the termination of this Agreement, unless earlier termination is otherwise provided for herein or in the Credit Agreement:
Creation of Accounts. 9 Section 2.03.
Creation of Accounts. At the request of the Borrower, the Depositary Bank hereby creates the following accounts (collectively, the “Accounts”) and each such Account shall be a “securities account” (as such term is defined in Section 8-501(a) of the UCC), which shall be maintained at all times in accordance with Section 3.4 hereof until the termination of this Agreement or earlier closure of such Account by the Depositary Bank as expressly contemplated herein:
Creation of Accounts. For the purpose of management, monitoring, and support, the Company may create, modify, and remove user accounts, administrative accounts, and any other accounts deemed necessary by the Company on systems, devices, platforms, and Servers within the scope of this Agreement.
Creation of Accounts. The Trustee will establish as a segregated trust account, for the benefit of the Series 2004-1 Noteholders and the Surety Provider, the Series 2004-1 Excess Collection Account (such account, the “Series 2004-1 Excess Collection Account”). The Trustee will also create or establish as segregated trust accounts, in each case for the benefit of the Series 2004-1 Noteholders and the Surety Provider, the Series 2004-1 Collection Account (such account, the “Series 2004-1 Collection Account”) and the Series 2004-1 Accrued Interest Account (such account, the “Series 2004-1 Accrued Interest Account”).
Creation of Accounts. (i) The Liquidating Trustee, on behalf of the Beneficiaries, shall establish and maintain in the name of the Liquidating Trustee at an Eligible Institution a segregated trust account accessible only by the Liquidating Trustee (the "Collection Account") which shall be identified as the "Collection Account for the BFA Liquidation Trust" and shall bear a designation clearly indicating that the funds deposited therein are held on behalf of the Beneficiaries.
(ii) The Liquidating Trustee, on behalf of the Beneficiaries, shall establish and maintain in the name of the Liquidating Trustee at an Eligible Institution a segregated trust account accessible only by the Liquidating Trustee (the "Litigation Account") which shall be identified as the "Litigation Account for the BFA Liquidation Trust" and shall bear a designation clearly indicating that the funds deposited therein are held on behalf of the Beneficiaries.
(iii) The Liquidating Trustee, on behalf of the Beneficiaries, shall establish and maintain in the name of the Liquidating Trustee at an Eligible Institution a segregated trust account accessible only by the Liquidating Trustee (the "Trust/IRA Account") which shall be identified as the "Trust/IRA Account f▇▇ the BFA Liquidation Trust" and shall bear a designa▇▇▇n clearly indicating that the funds deposited therein are held on behalf of the Beneficiaries.
(iv) The Liquidating Trustee, on behalf of the Beneficiaries, shall establish and maintain in the name of the Liquidating Trustee at an Eligible Institution a segregated trust account accessible only by the Liquidating Trustee (the "Distribution Reserve") which shall be identified as the "Distribution Reserve for the BFA Liquidation Trust" and shall bear a designation clearly indicating that the funds deposited therein are held on behalf of the Beneficiaries.
(v) The Liquidating Trustee, on behalf of the Beneficiaries, shall establish and maintain in the name of the Liquidating Trustee at an Eligible Institution a segregated trust account accessible only by the Liquidating Trustee (the "Holding Account") which shall be identified as the "Holding Account for the BFA Liquidation Trust", shall bear a designation clearly indicating that the funds deposited therein are held on behalf of the Beneficiaries and shall be for the purpose of holding undeliverable distributions in accordance with Section 5.10.