Deposits Into Accounts Clause Samples

Deposits Into Accounts. 5 Section 3.1 Deposits ........................................... 5

Deposits Into Accounts. Each Operator warrants and covenants that (i) on or prior to the date hereof such Operator shall send (or shall cause to be sent) (A) a notice, substantially in the form of Exhibit A, to all tenants (expressly excluding hotel guests) under Tenancy Leases now or hereafter in effect at its Collateral Asset directing such tenants to pay all Rents and other sums due under such Tenancy Leases into the Property Account with respect to such Collateral Asset, but only to the extent such tenants are not already making such payments to such Property Account and (B) a notice, substantially in the form of Exhibit B, to all material third party merchants who are consistently obligated to make payments to such Operator or the applicable Manager for such Collateral Asset, including, but limited to, credit, charge, debit and comparable card companies and processors (and expressly excluding tenants and hotel guests), directing them to pay all sums due under any arrangements to which they are a party with such Operator or Manager into the Property Account with respect to such Collateral Asset, but only to the extent such third party payors are not already making such payments to such Property Account, (ii) such Operator shall, or shall cause the applicable Manager to, deposit (or cause to be deposited) all accounts receivable for such Collateral Asset and any Gross Income from Operations collected by such Operator or such Manager into the Property Account with respect to such Collateral Asset, and (iii) neither such Operator nor any other Person shall direct any existing or future third party payors to make payments in respect of its Collateral Asset in any manner other than as set forth in this Section 3(a), without the prior written consent of the Agent. During the continuance of any Lockbox Period, until deposited into the Lockbox Account, any Gross Income from Operations from the Collateral Assets held by the Company Parties shall be deemed to be Account Collateral and shall be held in trust by it for the benefit, and as the property, of the Agent for the benefit of the Secured Parties subject to the terms and provisions of this Agreement and the other Loan Documents. The Gross Income from Operations from each of the Collateral Assets held by the Manager or Company Parties shall not be commingled by the Manager or the Company Parties with any funds or property of the Manager or Company Parties which are unrelated to such Collateral Asset.

Deposits Into Accounts. The Borrowers and Manager represent, warrant and covenant that: (a) Pursuant to the Deposit Account Control Agreement, all available funds on deposit in the Deposit Account shall be deposited by the Deposit Bank into the Central Account by wire transfer (or transfer via the ACH System) on each Business Day. (b) If, notwithstanding the provisions of this Section 2.2, the Borrowers or Manager receives any Receipts from any Site, or any Extraordinary Receipts, then (i) such amounts shall be deemed to be Collateral and shall be held in trust for the benefit, and as the property, of Lender and applied pursuant to the terms of this Agreement, (ii) such amounts shall not be commingled with any other funds or property of the Borrowers or Manager, and (iii) the Borrowers or Manager shall deposit such amounts in the Deposit Account by the next succeeding Business Day after the Receipts or Extraordinary Receipts are identified, and in no event more than five (5) Business Days of receipt. Provided no Event of Default has occurred and is then continuing, Extraordinary Receipts shall be held and applied in accordance with Section 3.3 hereof.

Deposits Into Accounts. The Liquidating Trustee shall make the following deposits into the following Accounts: (a) the Net Litigation Recovery shall be deposited into the Litigation Account; (b) the net recovery received by the Liquidating Trustee of litigation claims arising under or related to any IRA and trust activities conducted by the Debtors prior to the Petit▇▇▇ Date shall be deposited into the Trust/IRA Account; (c) all other Cash received by the Liquidating ▇rustee (including the proceeds from any sale of the Assets by the Transferors and Platform Subsidiaries prior to the Effective Date) shall be deposited into the Collection Account; (d) any distributions to holders of Claims which are Disputed Claims under the Plan shall be deposited into the Distribution Reserve; and (e) any distributions which are undeliverable shall be deposited into the Holding Account in accordance with Section 5.10.

Deposits Into Accounts. Subject to Section 5.14 hereof: (a) The Contractor shall require each Servicer to post to each related Borrower's account all payments of principal, interest and other charges with respect to the Borrower's Financed Student Loan. The Contractor shall require each Servicer to remit to the Contractor or to deposit directly into the Revenue Fund as and when required by the Indenture all amounts received by the Servicer with respect to the Financed Student loan, including, without limitation, amounts constituting: (i) all identifiable payments, including, without limitation, any Guarantee Payments with respect to the Financed Student Loans; (ii) all liquidation proceeds on the Financed Student Loans; (iii) with respect to Financed Student Loans repurchased from the Trust, all aggregate purchase amounts; and (iv) all other amounts required to be deposited by the Servicer pursuant to the terms of the related Servicing Agreement or the Indenture.

Deposits Into Accounts. SECTION 4.01. (a) Deposit of Revenues, etc .................. 3 (b) Insurance Proceeds ........................ 3

Deposits Into Accounts. Section 3.01. Deposits on Second Capital Contribution Date.... 11 Section 3.02. Revenues........................................ 11

Deposits Into Accounts. 22 SECTION 3.1. Revenue Account...................................................... 22 SECTION 3.2. Environmental Capital Expenditure Account............................ 22 SECTION 3.3. Recovery Event Proceeds Account...................................... 22 SECTION 3.4. Loan Principal Account............................................... 22 SECTION 3.5.

Deposits Into Accounts. A. All revenues and receipts of the Issuer (excluding the proceeds of (i) the Notes, (ii) Distributions in respect of Permitted Equity Contributions made in accordance with subsection 7.1D of the Note Purchase Agreement and (iii) Distribution of the Prior Cost Amount on the Closing Date in accordance with the Note Purchase Agreement) shall be deposited directly into the Collection Account. Issuer shall direct every Person making any payments or distributions to Issuer to make all such payments or distributions directly into the Collection Account, and shall not revoke, rescind or otherwise modify any such directions, including those contained in any Closing Date Consent or Additional Consent. If Issuer receives any such revenues, receipts or distributions, such amounts shall be received in trust for the benefit of Secured Party and shall be deposited as soon as reasonably possible, and in any event within three (3) Business Days, into the Collection Account. B. Any deposit made into any Account shall be irrevocable (except if made as a result of manifest error) and the amount of such deposit plus any investment earnings thereon will be held by the Account Bank and applied, invested and transferred solely as provided in this Agreement and the Account Control Agreement. C. Issuer shall at all times maintain a positive balance in each Account, to the extent necessary to ensure that such Account is not closed.