Common use of Deposit into the Account Clause in Contracts

Deposit into the Account. Pledgor, on the Closing Date, will cause the initial Collateral to be deposited in the Account, which initial Collateral, together with any additional Collateral deposited in the Account from time to time following the Closing Date, shall be held by the Securities Intermediary upon the terms and conditions hereinafter set forth and credited to the Account. Any cash or cash equivalents maintained in the Account will not bear interest. The Securities Intermediary shall have no duty to solicit the Collateral. Pledgor or Secured Party shall notify the Securities Intermediary in writing at or prior to the time when Collateral is sent to the Securities Intermediary pursuant to this Agreement. The Securities Intermediary shall have no liability for Collateral, or interest thereon, sent to it that remains unclaimed and/or is returned if such written notification is not given.

Deposit into the Account. Pledgor, on simultaneously with the Closing Dateexecution and delivery of this Agreement, will cause has caused the initial Collateral to be deposited in the Account, which initial Collateral, together with any additional Collateral deposited in the Account from time to time following the Closing Datedate hereof, shall be held by the Securities Intermediary upon the terms and conditions hereinafter set forth and credited to the Account. Any cash or cash equivalents maintained in the Account will not bear interest. The Securities Intermediary shall have no duty to solicit the Collateral. Pledgor or Secured Party shall notify the Securities Intermediary in writing at or prior to the time when Collateral is sent to the Securities Intermediary pursuant to this Agreement. The Securities Intermediary shall have no liability for Collateral, or interest thereon, sent to it that remains unclaimed and/or is returned if such written notification is not given.