Common use of Termination of Accounts Clause in Contracts

Termination of Accounts. On the Termination Date all Permitted Investments in each Account shall be liquidated or, at the election of the Borrower, conveyed to the Borrower and all remaining funds in each Account shall be remitted to (or at the direction of) the Borrower. In the event that after the Termination Date any funds are received by the Administrative Agent for deposit in any Account the Administrative Agent shall promptly remit such funds to (or at the direction of) the Borrower, in the form received, with any necessary endorsements.

Termination of Accounts. On the Termination Date all Permitted Investments in each Account shall be liquidated or, (at the election written direction of the Borrower) be liquidated or transferred to, conveyed to the Borrower and all remaining funds in each Account shall be remitted to (or at the written direction of) the Borrower. In Borrower and the event that after the Termination Date any funds are received by the Administrative Agent for deposit in any Account the Administrative Agent Accounts shall promptly remit such funds to (or at the direction of) the Borrower, in the form received, with any necessary endorsementsbe closed.

Termination of Accounts. On the Termination Date all Permitted Investments in each Account shall be liquidated or, (at the election written direction of the Borrower) promptly be liquidated, conveyed to the Borrower and all with any remaining funds in each Account shall be remitted promptly to (or at the direction of) the Borrower. In the event that after the Termination Date any funds are received by the Administrative Agent for deposit in any Account the Administrative Agent shall promptly remit such funds to (or at the written direction of) the Borrower, in and the form received, with any necessary endorsementsAccounts shall promptly be closed.