Collection Accounts Sample Clauses

Collection Accounts a) On behalf of the Trustee, each Servicer shall establish and maintain, or cause to be established and maintained, one or more separate Eligible Accounts (each such account or accounts, a "Collection Account"), held in trust for the benefit of the Trustee. On behalf of the Trustee, each Servicer shall deposit or cause to be deposited in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Servicer's receipt thereof, and shall thereafter deposit in the related Collection Account, in no event more than two Business Days after the deposit of such funds into the clearing account, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the related Mortgage Loans due on or before the Cut-off Date), or payments (other than Principal Prepayments) received by it on or prior to the related Cut-off Date but allocable to a Due Period subsequent thereto:
Collection Accounts. (a) On or before the Effective Date, each Originator Collection Account will be subject to a fully executed Effective Date Originator Collection Account Agreement. Within thirty (30) days after the Effective Date (or such later date as the Administrative Agent may agree to in its discretion), each Originator Collection Account will be subject to a fully executed Originator Collection Account Agreement which, for the avoidance of doubt, may be an amendment to, or amendment and restatement of, the Effective Date Originator Collection Account Agreement in form and substance satisfactory to the Collateral Agent. Within thirty (30) days after the Effective Date (or such later date as the Administrative Agent may agree to in its discretion), each Borrower Collection Account will be subject to a fully executed Borrower Collection Account Agreement. The Borrower agrees that the Collateral Agent shall have “control” (within the meaning of Section 9-104 of the applicable UCC) of each Collection Account. On each Business Day, all funds credited to an Originator Collection Account shall be transferred to a Borrower Collection Account. The Agents hereby agree that until the occurrence of a Liquidity Event or an Event of Default or a Funding Excess, the related Collection Bank shall be entitled to follow the instructions of the Borrower, or the Servicer on behalf of the Borrower, with respect to the withdrawal, transfer or payment of funds on deposit in any Borrower Collection Account. Upon the occurrence and during the continuance of a Liquidity Event or an Event of Default or if there is a Funding Excess, the Collateral Agent shall have the right to (which right may be exercised or waived in the discretion of the Collateral Agent or as directed by the Required Lenders) deliver notices to the Collection Banks under the Collection Account Agreements assuming exclusive dominion and control of each Collection Account and all monies, instruments and other property from time to time on deposit therein. At all times that exclusive dominion and control is in effect, the Collateral Agent shall apply all funds credited to the Borrower Collection Accounts on the previous Business Day (to the extent immediately available) to repay the Obligations in the order of priority set forth in Section 5.07.(b) Pursuant to Section 4.02(b), all existing Obligors of Transferred Receivables shall have been instructed, and all future Obligors of Transferred Receivables shall be instructed, to m...
Collection Accounts. The Administrative Agent shall have received evidence reasonably satisfactory to it that the system of Collection Accounts referred to in Section 6.11(a) shall have been established and all related account control agreements, in form and substance reasonably satisfactory to the Administrative Agent, shall have been executed and delivered by the Administrative Agent, the relevant depositary bank and the appropriate Loan Party.
Collection Accounts. The Collection Accounts (including any sub accounts thereof) are the only accounts to which Collections are sent.
Collection Accounts. Such Seller has instructed all Obligors thereon to pay all Collections either directly by mail addressed to a Lockbox listed on Schedule 6.1(o) to the Credit and Security Agreement which (except for the Collection Account at China Trust Bank) is subject to a Collection Account Agreement, or by wire transfer or other electronic funds transfer directly to a Collection Account listed on Schedule 6.1(o) to the Credit and Security Agreement which is subject to a Collection Account Agreement. Such Seller has instructed each bank maintaining a Lockbox or Collection Account to sweep all collected funds received therein each Business Day to a Collection Account in the name of the Buyer which is subject to a Collection Account Agreement. The Buyer will cause each of the Collection Accounts that is currently in the name of a Seller to be transferred to it and into its own name within a reasonable period of time after the initial Advance under the Credit and Security Agreement, and each Seller agrees to cooperate fully with the Buyer in effecting such transfers.
Collection Accounts. The Company shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, deposit any revenues obtained by it or any of them from their respective operations conducted pursuant to the Concessions or Additional Concessions in any bank account other than bank accounts held in the name of the Company or such Restricted Subsidiary which constitutes Collateral pursuant to any of the Collateral Documents.
Collection Accounts. The Borrower will direct each Lessee under each Direct Finance Lease or other lease agreement with respect to a Railcar to remit to a Collection Account all rental payments and other amounts owing with respect to such Direct Finance Lease or other lease agreement. The Borrower will, and will cause each of its Subsidiaries to, together with the employees, agents and other Persons acting on behalf of the Borrower and its Subsidiaries, receive and hold in trust for the Administrative Agent and the Lenders all payments constituting proceeds of Collateral which come into their possession or under their control or are otherwise received by such Person and, immediately upon receipt thereof, deposit (or cause to be deposited) such payments in the form received, with any appropriate endorsements, in one of the Collection Accounts. All such Collection Accounts shall be subject to an Account Control Agreement in favor of the Administrative Agent for the benefit of the Secured Parties. For the avoidance of doubt, and subject to this §8.13, neither the Borrower nor any Domestic Subsidiary of the Borrower that is a Guarantor may have any bank accounts other than the Collection Accounts.
Collection Accounts. The Sellers and the Purchaser have agreed to put in place Collection Accounts in each jurisdiction concerned by the Securitisation Transaction (i.e. France, Germany, Italy and Spain) in order to segregate any cash received by the Sellers, when acting in their capacity as collection agent under the foregoing provisions and the relevant Receivables Purchase Agreement. A Collection Account Agreement shall be concluded in relation to each Collection Account. Notwithstanding the provisions of Article 23.1 hereof and of the Collection Account Agreements, the Purchaser agrees that, in the event that the Centralising Unit provides reasonably satisfactory evidence that a payment made to any Collection Account does not relate to Sold Receivables or Retransferred Receivables (as defined in the Collection Account Agreements), the Purchaser shall promptly authorise the return of such payment to the Centralising Unit, within the limit of the credit balance of the relevant Collection Account.
Collection Accounts. Except to the extent otherwise permitted under the terms of this Agreement, the Collection Accounts are free and clear of any Lien (except for Permitted Liens). Each Obligor has been instructed by the Company (or the Master Servicer, on its behalf) to remit all payments with respect to Receivables directly to a Collection Account.