Designation of Accounts. (a) The Borrower must maintain the following bank accounts in the name of the Borrower with Barclays Bank PLC: (i) an interest bearing account designated the Operating Account; (ii) a current account designated the General Account; (b) The Borrower must not, without the prior consent of the Lenders, maintain any other bank account.
Appears in 2 contracts
Sources: Amendment and Restatement Agreement (Strategic Hotels & Resorts, Inc), Facility Agreement (Strategic Hotels & Resorts, Inc)
Designation of Accounts. (a) The Borrower must maintain the following bank accounts in the name of the Borrower with Barclays Bank PLCat the Account Bank:
(i) an interest bearing account designated the Operating Rent Account;
(ii) a current account designated the General Deposit Account;
(b) The Borrower must not, without the prior consent of the Lenders, maintain any other bank account.; and
Appears in 1 contract
Sources: Sterling Term Facility Agreement (American Realty Capital Global Trust, Inc.)
Designation of Accounts. (a) The Borrower Company must maintain the following bank accounts in the name of the Borrower with Barclays Bank PLCits name:
(i) an interest bearing a sterling current account designated the Operating "Debt Service Account;"
(ii) a sterling deposit account designated the "Prepayment Account";
(iii) a sterling deposit account designated the "Equity Release Account";
(iv) a sterling deposit account designated the "Cure Account"; and
(v) a sterling current account designated the "General Account;".
(b) The Borrower must Company may not, without the prior consent of the LendersAgent, maintain any other bank account.
Appears in 1 contract
Sources: Term Facility Agreement