Common use of Use of Accounts Clause in Contracts

Use of Accounts. Subject to the satisfaction of the requirements of Section 2.04(c), Borrower may withdraw funds at any time or from time to time and disburse such funds as the Borrower may direct, so long as at the time of such withdrawal or disbursement and after giving effect thereto: (A) there does not exist a Default or an Event of Default (unless the Borrower has directed that such disbursement be paid to the Administrative Agent for the benefit of the Lenders to cure such Default or Event of Default, as applicable);and (B) there does not exist a LTV Shortfall (unless the Borrower has directed that such disbursement be paid to the Administrative Agent to cure such LTV Shortfall). Any withdrawal from a Collection Account by the Borrower shall be deemed a representation and warranty by the Borrower that the conditions set forth in the foregoing clauses (A) and (B) have been satisfied. Notwithstanding anything to the contrary herein, including the foregoing clauses (A) and (B), the Borrower may withdraw funds and/or disburse such funds as the Borrower may direct in order to maintain its status as a RIC under Sections 851 through 855 of the Code.