Common use of Establishment of the Collection Account Clause in Contracts

Establishment of the Collection Account. On or before the Closing Date, the Servicer shall cause the Collection Account to be established with the Account Bank in the name of the Borrower. The Collection Account shall at all times be subject to the Control Agreement.

Establishment of the Collection Account. On or before the Closing Date, the Servicer shall cause the Collection Account to be established with the Account Bank in the name of the Borrower. The After the execution and delivery of the Control Agreement following the reasonable advance written request of the Administrative Agent, the Collection Account shall at all times be subject to the Control Agreement. Any reasonable fees and expenses owing to the Account Bank in connection with the maintenance of the Collection Account shall be payable in accordance with the provisions of Section 2.07 to the extent that the Servicer has not elected to pay such amounts from its own account.

Establishment of the Collection Account. On or before the first Related Closing Date, the Servicer shall cause the Collection Account to be established with the Account Bank in the name of the Borrower. The Collection Account shall at all times be subject to the Control Agreement. Any reasonable fees and expenses owing to the Account Bank in connection with the maintenance of the Collection Account shall be payable in accordance with the provisions of Section 2.07 to the extent that the Servicer has not elected to pay such amounts from its own account.

Establishment of the Collection Account. On or before the Closing Date, the Servicer shall cause the Collection Account to be established with the Account Bank in the name of the Borrower. The Collection Account shall at all times be subject to the Control Agreement. Any reasonable fees and expenses owing to the Account Bank in connection with the maintenance of the Collection Account shall be payable in accordance with the provisions of Section 2.07 to the extent that the Servicer has not elected to pay such amounts from its own account.