Common use of Primary Operating Account Clause in Contracts

Primary Operating Account. (a) The Borrower shall at all times maintain an Eligible Account as the deposit account into which all transfers to Borrower from the Concentration Account pursuant to Section 8.14(b) below are made. (b) The Borrower hereby covenants and agrees that, on the last Business Day of each calendar week (each, a “Reference Date”), beginning with the last Business Day of the first week following the week of the Effective Date, if the amount contained in the Concentration Account on any such Reference Date (after deducting any amounts transferred or required to be transferred on such Reference Date from the Concentration Account to the Trust Account pursuant to the provisions of Section 5.1.1 of any Management Agreement) exceeds $5,000,000 (the portion of such amount in excess of $5,000,000 being herein referred to as the “Excess Amount”), the Borrower shall, on each such applicable Reference Date, cause to be transferred from the Concentration Account to an Eligible Account, an amount equal to the Excess Amount on such date. (c) So long as no Designated Event of Default shall have occurred and then be continuing, the Administrative Agent shall not execute or deliver a “Notice of Exclusive Control” (or similar notice) under any Control Agreement.

Primary Operating Account. (a) The Borrower shall at all times maintain an Eligible Account as the deposit account into which all transfers to Borrower from the Concentration Account pursuant to Section 8.14(b8.15(b) below are made. (b) The Borrower hereby covenants and agrees that, on the last Business Day of each calendar week (each, a “"Reference Date”"), beginning with the last Business Day of the first week following the week of the Effective Closing Date, if the amount contained in the Concentration Account on any such Reference Date (after deducting any amounts transferred or required to be transferred on such Reference Date from the Concentration Account to the Trust Account pursuant to the provisions of Section 5.1.1 of any the Management Agreement) exceeds $5,000,000 (the portion of such amount in excess of $5,000,000 being herein referred to as the “"Excess Amount”"), the Borrower shall, on each such applicable Reference Date, cause to be transferred from the Concentration Account to an Eligible Account, an amount equal to the Excess Amount on such date. (c) So long as no Designated Event of Default shall have occurred and then be continuing, the Administrative Agent shall not execute or deliver a “"Notice of Exclusive Control” " (or similar notice) under any Control Agreement.