Lockboxes and Collection Accounts Sample Clauses

Lockboxes and Collection Accounts. (i) One of the Loan Parties or the applicable Originator has instructed all Obligors of all Receivables to pay all Collections thereon either (A) by mail addressed to a Lockbox or (B) by wire transfer or other electronic funds transfer directly to a Collection Account in the name of the applicable Originator, as sub-servicer, or in the name of the Borrower. Items received in the Lockboxes are deposited for collection each Business Day into a Collection Account in the name of the applicable Originator or the Borrower, and all collected and available funds from time to time in each Collection Account in the name of any Originator are swept each day to a Collection Account in the name of the Borrower. Each of the Lockboxes and Collections Accounts is in full force and effect and, except for the Collection Account at China Trust Bank, is subject to a Collection Account Agreement that is in full force and effect.
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Lockboxes and Collection Accounts. (i) One of the Loan Parties or the applicable Originator has instructed all Obligors of Private Receivables to pay all Collections thereon either (A) by wire transfer, ACH or other electronic funds transfer directly to a Collection Account in the name of the Borrower that at all times after December 31, 2013 is subject to a Collection Account Agreement, or (B) by mail addressed to a Lockbox that clears each Business Day through a Collection Account in the name of the Borrower that meets the requirements of the preceding clause (A). One of the Loan Parties or the applicable Originator has instructed all Obligors of Specified Government Receivables to pay all Collections thereon either (X) by wire transfer, ACH or other electronic funds transfer directly to a Collection Account in the name, and under the control, of the Originator whose services gave rise thereto which is swept each Business Day into a Collection Account in the name of the Borrower that meets the requirements of clause (A) above, or (Y) by mail addressed to a Lockbox that clears each Business Day through a Collection Account in the name, and under the control, of the Originator whose services gave rise thereto which is swept each Business Day into a Collection Account in the name of the Borrower that meets the requirements of clause (A) above. Each of the agreements establishing and governing the maintenance of the Lockboxes and Collection Accounts is in full force and effect, and at all times after December 31, 2013, each of the Collection Accounts in the name of the Borrower is subject to a Collection Account Agreement that is in full force and effect.
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Lockboxes and Collection Accounts. The Borrower has established and will maintain a system of Lockboxes and Collection Accounts into which all Collections shall be deposited. Each Collection Account shall be or shall have been established in the name of, or transferred to the name of, the Borrower and the funds deposited therein from time to time shall not be commingled with any funds of any Seller or Subservicer, the Master Servicer or the Lux Manager or any Affiliate thereof. The Borrower shall (i) not suffer or permit any funds other than Collections on account of the Receivables to be mailed to Lockboxes or deposited into Collection Accounts; (ii) until deposited in a Collection Account, hold in trust, or cause the Master Servicer, Subservicers or the Lux Manager to hold in trust, for the Administrative Agent for the benefit of the Secured Parties all Collections received by the Borrower, (iii) make, or cause the Master Servicer, Subservicers or the Lux Manager to make, the necessary bookkeeping entries to reflect such Collections on the Records pertaining to such Receivables; and (iv) apply all such Collections as provided in this Agreement and the other Transaction Documents. On or - 30 - prior to the Closing Date and when required by Section 5.02(b) hereof, the Borrower shall enter into a Control Agreement with the Administrative Agent and the bank maintaining each Collection Account. The Borrower shall not amend or modify any term of any Lockbox Agreement or any Control Agreement relating to a Collection Account without the prior written consent of the Administrative Agent.
Sample 1
Lockboxes and Collection Accounts. (i) One of the Loan Parties or the applicable Originator has instructed all Obligors of all Receivables to pay all Collections thereon either (A) by mail addressed to a Lockbox or (B) by wire transfer or other electronic funds transfer directly to a Collection Account in the name of the applicable Originator, as sub-servicer, or in the name of the Borrower. Items received in the Lockboxes are deposited for collection each Business Day into a Collection Account in the name of the applicable Originator or the Borrower, and all collected and available funds from time to time in each Collection Account in the name of any Originator are swept each day to a Collection Account in the name of the Borrower. Each of the agreements establishing and governing the maintenance of the Lockboxes and Collection Accounts is in full force and effect, and each of the Lockboxes and Collection Accounts is subject to a Collection Account Agreement that is in full force and effect.
Sample 1
Lockboxes and Collection Accounts. (i) One of the Loan Parties or the applicable Originator has instructed all Obligors of all Receivables to pay all Collections thereon either (A) by mail addressed to a Lockbox or
Sample 1
Lockboxes and Collection Accounts. A system of Lockboxes and Collection Accounts has been established and will be maintained in the name of the Borrower into which all Collections shall be deposited. Each Collection Account shall be or shall have been established in the name of, or transferred to the name of, the Borrower and the funds deposited therein from time to time shall not be commingled with any funds of any Seller or Subservicer, the Master Servicer or the NZ Manager or any Affiliate thereof. The Borrower and the NZ Manager on behalf of the Borrower shall (i) not suffer or permit any funds other than Collections on account of the Receivables to be mailed to Lockboxes or deposited into Collection Accounts; (ii) until deposited in a Collection Account, hold in trust, or cause the Master Servicer, Subservicers or the NZ Manager to hold in trust, for the Collateral Agent for the benefit of the Secured Parties all Collections received by the Borrower, (iii) make, or cause the Master Servicer, Subservicers or the NZ Manager to make, the necessary bookkeeping entries to reflect such Collections on the Records pertaining to such Receivables; and (iv) apply all such Collections as provided in this Agreement and the other Transaction Documents. On or prior to the Closing Date and when required by Section 5.02(b) hereof, the Borrower shall enter into a Control Agreement with the Collateral Agent and the bank maintaining each Collection Account. Neither the Borrower nor the NZ Manager shall amend or modify any term of any Lockbox Agreement or any Control Agreement relating to a Collection Account without the prior written consent of the Collateral Agent.
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Lockboxes and Collection Accounts. The Agent is authorized at any time during a Daily Reporting Period to date and to deliver to the Collection Banks the Control Notices. Finance Subsidiary hereby transfers to the Agent for the benefit of the Purchasers, effective when the Agent delivers such notice, the control of each Lockbox and Collection Account, as set forth in each applicable Control Agreement. In case any authorized signatory of Finance Subsidiary whose signature appears on a Control Agreement shall cease to have such authority before the delivery of such notice, such Control Notice shall nevertheless be valid as if such authority had remained in force. Finance Subsidiary hereby authorizes the Agent, and agrees that the Agent shall be entitled to (i) endorse Finance Subsidiary's name on checks and other instruments representing Collections, (ii) enforce the Receivables, the related Contracts and the Related Security and (iii) take such action as shall be necessary or desirable to cause all cash, checks and other instruments constituting Collections of Receivables to come into the possession of the Agent rather than Finance Subsidiary.
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Lockboxes and Collection Accounts. (a) Unless and until the Facility Term has expired and all amounts then owing by each Seller under the Transaction Agreements have been paid and full in cash:
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Related to Lockboxes and Collection Accounts

  • Collection Accounts Section 3.11 Withdrawals from the Collection Accounts..................... Section 3.12 Investment of Funds in the Collection Accounts and the Distribution Account......................................... Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage........................................ Section 3.14 Enforcement of Due-on-Sale Clauses; Assumption Agreements.... Section 3.15

  • Deposits to the Collection Account On behalf of the Trust Fund, the Master 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 the Master Servicer's receipt thereof, and shall thereafter deposit in the 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, and retain therein, the following payments and collections received or made by it subsequent to the Cut-off Date with respect to the Mortgage Loans, or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date but allocable to a Due Period subsequent thereto:

  • Master Servicer Collection Account (a) The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer Collection Account shall be an Eligible Account. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts:

  • Deposits to Collection Account The Servicer shall use its best efforts to deposit or cause to be deposited (without duplication), within two (2) Business Days after receipt thereof, into the Collection Account and retain therein in trust for the benefit of the Grantor Trust Holder:

  • Deposits to the Collection Account and Special Payments Account (a) The Subordination Agent shall, upon receipt thereof, deposit in the Collection Account all Scheduled Payments received by it (other than any Scheduled Payment which by the express terms hereof is to be deposited to a Cash Collateral Account).

  • Collection Account (a) On the Closing Date, the Master Servicer shall open and shall thereafter maintain a segregated account held in trust (the “Collection Account”), entitled “Collection Account, Aurora Loan Services Inc., as Master Servicer, in trust for the benefit of the Holders of Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2004-10.” The Collection Account shall relate solely to the Certificates issued by the Trust Fund hereunder, and funds in such Collection Account shall not be commingled with any other monies.

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • The Collection Account (a) The Trust Administrator shall establish and maintain in the name of the Notes Intermediary the Collection Account as provided in Section 5.07, which account shall be pledged to the Indenture Trustee for the benefit of the Noteholders.

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