Master Collection Account. Except for Security Deposits as provided above in Section 4.9.1, all Gross Collections shall be directed to the Master Collection Account. Property Manager shall direct all Tenants to send checks directly to the Lockbox or, if any such Tenant pays by electronic means, including direct debit, credit card or ACH, such Tenants shall be directed to make such payments directly to the Master Collection Account. If Property Manager receives any payment directly from a Tenant, Property Manager shall immediately deposit such payment into the Master Collection Account or direct such payment to the Lockbox.
Master Collection Account. (a) On the Closing Date, the Collateral Agent shall establish in its own name, for the benefit of the Secured Parties under the Security Agreement, the Master Collection Account into which all Collections received in any Lock-Box Account or otherwise received by any Credit Party are to be remitted. The Master Collection Account shall be established and maintained at DB or such other bank approved by Administrative Agent (such a bank, an "ELIGIBLE INSTITUTION") or as a segregated trust account in the corporate trust department of any federal or state chartered depository institution subject to regulations regarding fiduciary funds on deposit substantially similar to 12 C.F.R. Section 9.10(b). The Master Collection Account shall bear a designation clearly indicating that the funds deposited therein are held for the benefit of the Collateral Agent. If the Master Collection Account is at any time maintained with an Eligible Institution (other than as a segregated trust account in such institution's corporate trust department as described above) and such institution shall cease to be an Eligible Institution for purposes hereof, Collateral Agent shall direct the Borrowers to, and the Borrowers shall, within ten (10) calendar days thereafter, move such accounts to a different Eligible Institution or to a segregated trust account maintained in the corporate trust department of an institution meeting the qualifications set forth above. Subject to the restrictions set forth in this SECTION 2.4(b), Collateral Agent shall have the right at any time to move, or to designate any other account as, Master Collection Account, and the Borrowers hereby agree to take any and all action reasonably requested by Collateral Agent to facilitate any such move or designation.
Master Collection Account. To the extent, pursuant to this Agreement and after giving effect to the prepayments required by Section 4.5(c), the aggregate Revolving Commitments would be reduced below the amount of LC Obligations or the Borrowing Base is less than the LC Obligations, Borrowers shall cash collateralize such LC Obligations in an amount equal to 105% of the aggregate stated amount of LC Obligations by depositing and/or maintaining the Borrowing Base Cash Collateral Amount with Administrative Agent in the Master Collection Account. In the event that cash collateral is held in the Master Collection Account pursuant to Section 4.5(c), and thereafter an Event of Default occurs, such cash shall immediately be applied in the manner specified in Section 4.5(d).
Master Collection Account. 3.1.1 The Borrower shall maintain the Master Collection Account, and shall cause all License Payments to be directly remitted by the applicable account debtors into the Master Collection Account. Except as permitted in this
Master Collection Account. On or after the Closing Date, Hercules may, with the consent of the Trustee (acting upon the direction of the Majority Noteholders in their reasonable discretion), designate or establish a non-interest bearing, segregated account with Xxxxx Fargo Bank, National Association or another Qualified Institution as the Master Collection Account (the “Master Collection Account Bank”) in the name of Hercules, for the benefit of the Trustee and the Noteholders and each other secured party from time to time executing a joinder to the Master Collection Account Agency Agreement. Following the date on which Hercules designates (with the consent of the Trustee (acting upon the direction of the Majority Noteholders in their reasonable discretion)), an account as the Master Collection Account, the Servicer is hereby required to ensure that the Master Collection Account is established and maintained as an Eligible Deposit Account with a Qualified Institution. The Servicer will monitor the Master Collection Account on a daily basis and review the previous day’s Master Collection Account activity. If any institution with which the Master Collection Account is established pursuant to this Section 7.01(b) ceases to be a Qualified Institution, the Servicer, or if the Servicer fails to do so, the Trustee or the Master Collection Account Bank (as the case may be) shall within ten (10) Business Days of receipt of notice or actual knowledge of such failure by a Responsible Officer establish a replacement account at a Qualified Institution after notice of such event. In no event shall the Trustee or the Master Collection Account Bank, as appropriate, be responsible for monitoring whether such institution shall remain a Qualified Institution. The Servicer will cause all Collections deposited into the Master Collection Account to be transferred to the Collection Account no later than two (2) Business Days following identification of such Collections.
Master Collection Account. The Seller hereby authorizes the Purchaser (and its designees and assigns), and gives each of the Purchaser, such designees and/or such assigns its irrevocable power of attorney, with full power of substitution, which authorization shall be coupled with an interest, to take any and all steps in the Seller's name and on behalf of the Seller, which steps are necessary or desirable, in the reasonable determination of the Purchaser, such designees and/or such assigns, to collect all amounts due under the Transferred Assets, including, without limitation, endorsing the Seller's name on checks and other instruments representing Collections and enforcing such Receivables and the related Settlement Purchase Agreements.
Master Collection Account. The Borrowers covenant to cause all Product Payments to be directly remitted by the applicable account debtors to an operating account of the Borrowers established at the offices of the Bank and numbered 00-000-000 (the "Master Collection Account"). Except as permitted in this Section 5.1, the Borrowers shall not be permitted to deposit any funds in the Master Collection Account without the prior written consent of the Bank. The Borrowers shall not be entitled to pledge, hypothecate, transfer, direct, withdraw or have access to any funds deposited in the Master Collection Account until such time, if ever, as (i) all of the Obligations and all other sums, liabilities and other obligations owing by the Borrowers to the Bank under the Loan Documents shall have been indefeasibly paid in full; (ii) there are no outstanding Letters of Credit; and (iii) the Bank shall have no further obligation to lend any monies to the Borrowers or issue any Letters of Credit under this Agreement. Other than as expressly provided in this Section 5.1, the Master Collection Account shall be under the exclusive control of the Bank. At the end of each Business Day, the Bank shall transfer an amount equal to the then credit balance in the Master Collection Account to the Operating Account, provided that on such Business Day no Event of Default or Potential Event of Default is then occurring.
Master Collection Account. On the Closing Date, the Servicer on behalf of the Issuer shall apply funds from the APH 1-3 Master Collection Account to (x) transfer the Initial Interest Reserve Amount into the Interest Reserve Account, (y) pay expenses of the Obligors incurred in connection with the establishment of the Obligors, the structuring and consummation of the offering and the issuance of the Notes and other transactions contemplated hereunder and under the other Transaction Documents and (z) distribute any remaining amounts to APH Funding 1, LLC as a distribution. Each Obligor shall, from time to time, hold all of its respective Collections in its corresponding Collection Account. In addition, each Obligor may, but under no circumstances shall be required to, hold or cause to be held from time to time such additional monies in its respective Collection Account as it deems, in its sole discretion, to be advisable. No later than five Business Days preceding each Payment Date, the Servicer shall instruct the Intermediary to transfer all amounts held in the APH 1 Collection Account as of the immediately preceding Collection Period End Date into the APH 1-3 Master Collection Account to be applied in accordance with the Priority of Payments; provided, that if there is a shortfall in the APH 1 Collection Account to make payments under clauses (a)(1) through (5) of the Priority of Payments without regard to any amounts on deposit in the Interest Reserve Account, then such shortfall shall be paid from the APH 2 Collection Account and the APH 3 Collection Account on a pro rata basis based on the amount of cash held in such Collection Accounts on such Payment Date. To the extent a Guarantor makes any such payment in respect of the foregoing, the Issuer shall be deemed to have a subordinated intercompany obligation to such Guarantor and each Obligor agrees that any such obligation shall be subject to the subordination terms set forth in Appendix 2. All property in the Collection Accounts, together with any securities in which funds included in such property are or will be invested or reinvested during the term of this Indenture, and any income or other gain realized from such investments, shall be held by the Intermediary in the Collection Account as part of the Collateral subject to disbursement and withdrawal solely as provided in this Section 10.2 and in Section 11.1. Amounts held in the Collection Accounts will be invested in Eligible Investments in accordance with the written instru...
Master Collection Account. (a) On or before the Delivery Date and as necessary thereafter, the Master Servicer shall establish, and hereby agrees to maintain for the duration of this Agreement, the Master Collection Account. The Master Collection Account shall be an Eligible Account. The Master Collection Account shall relate solely to collections with respect to the Mortgage Loans, and funds in the Master Collection Account shall be held by the Master Servicer for the benefit of the Certificateholders and shall not be commingled with any other moneys. The Master Servicer shall, within five (5) Business Days of the establishment thereof, notify the Trustee, each Primary Servicer and the Special Servicer in writing of the location and account number of the Master Collection Account and shall give the Trustee, each Primary Servicer and the Special Servicer written notice of any change of the location or account number of the Master Collection Account on or prior to the date of such change.
Master Collection Account. (i) The Lender Agent has established and shall maintain the Master Collection Account with the Depositary. The Borrower and each of the Lenders agree that the Lender Agent shall have exclusive dominion and control of the Master Collection Account and all monies, instruments and other property from time to time on deposit therein.
