Remittance of Funds; Use of Cash Management Facilities Sample Clauses

Remittance of Funds; Use of Cash Management Facilities. (a) Unless the Bank is otherwise directed by Agent, each banking day the Bank shall cause all Deposit Account Collateral in excess of $200,000 in the aggregate to be deposited into the Concentration Account in immediately available funds.
Sample 1
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Remittance of Funds; Use of Cash Management Facilities. (a) Unless the Bank is otherwise directed by Agent prior to the Bank’s receipt of a Termination Notice, or by the Trustee following the Bank’s receipt of a Termination Notice, the Bank shall cause all Deposit Account Collateral to be deposited into the Concentration Account in immediately available funds. Prior to the receipt by the Bank of a Termination Notice, on each banking day, Bank shall transfer to Agent all available funds in the Concentration Account by wire to DeutscheBank Trust Company Americas, ABA #021 011 033; Account Name: General Electric Capital Corporation; Account Number: 000-000-00; CFN: CFK1027; Reference: Xxxxxxx Fabrics or such other account as Agent may from time to time designate to Bank pursuant to the terms of the First Lien Agreement, and, following receipt by the Bank of a Termination Notice, to an account designated by the Trustee in writing pursuant to the terms hereof (the “Trustee Payment Account”).
Sample 1
Remittance of Funds; Use of Cash Management Facilities. (a) Unless the Company is otherwise directed by the Agent, the Company shall cause all Deposit Account Collateral to be deposited into the Concentration Account. Each banking day, Bank shall transfer to Agent all available funds in the Concentration Account by wire to Wachovia Bank, ABA #000000000, Account Name: Wachovia Bank National Association, Account Number: 5000000030295, Reference: Hxxxxxx Fabrics.
Sample 1
Remittance of Funds; Use of Cash Management Facilities. (a) Unless the Company is otherwise directed by Agent, the Company shall cause all Deposit Account Collateral to be deposited into the Concentration Account. Each banking day, Bank shall transfer to Agent all available funds in the Concentration Account by wire to DeutscheBank Trust Company Americas, ABA #021 011 033; Account Name: General Electric Capital Corporation; Account Number: 000-000-00; CFN: [___]; Reference: Xxxxxxx Fabrics or such other account as Agent may from time to time designate to Bank pursuant to the terms hereof (the “Agent Payment Account”).
Sample 1

Related to Remittance of Funds; Use of Cash Management Facilities

  • Cash Management System Each Borrower shall, and shall cause its Subsidiaries to, establish and maintain the Cash Management Systems described below:

  • Cash Management Systems On or prior to the Closing Date, Borrowers will establish and will maintain until the Termination Date, the cash management systems described in Annex C (the “Cash Management Systems”).

  • Cash Management Account Borrower hereby represents and warrants to Lender that:

  • Cash Management (a) On or prior to the Closing Date:

  • Cash Management Services Funds received by Transfer Agent in the course of performing its services hereunder will be held in demand deposit bank accounts or money market fund accounts in the name of Transfer Agent (or its nominee) as agent for the Funds.

  • Cash Management Services Sublimit Borrower may use the Revolving Line for Bank’s cash management services, which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank’s various cash management services agreements (collectively, the “Cash Management Services”), in an aggregate amount not to exceed the lesser of (A) One Million Dollars ($1,000,000), minus (i) the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus (ii) the FX Reduction Amount, or (B) the lesser of the Revolving Line or the Borrowing Base, minus (i) the sum of all outstanding principal amounts of any Advances, minus the Dollar Equivalent of the face amount of any outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and minus (iii) the FX Reduction Amount Any amounts Bank pays on behalf of Borrower for any Cash Management Services will be treated as Advances under the Revolving Line and will accrue interest at the interest rate applicable to Advances.

  • Disbursements from Replacement Reserve Account (a) Lender shall make disbursements from the Replacement Reserve Account to pay Borrower only for the costs of the Replacements. Lender shall not be obligated to make disbursements from the Replacement Reserve Account to reimburse Borrower for the costs of routine maintenance to the Property or for costs which are to be reimbursed from the Required Repair Fund (if any).

  • Banking Services and Swap Agreements Each Lender or Affiliate thereof providing Banking Services for, or having Swap Agreements with, any Loan Party or any Subsidiary or Affiliate of a Loan Party shall deliver to the Administrative Agent, promptly after entering into such Banking Services or Swap Agreements, written notice setting forth the aggregate amount of all Banking Services Obligations and Swap Agreement Obligations of such Loan Party or Subsidiary or Affiliate thereof to such Lender or Affiliate (whether matured or unmatured, absolute or contingent). In furtherance of that requirement, each such Lender or Affiliate thereof shall furnish the Administrative Agent, from time to time after a significant change therein or upon a request therefor, a summary of the amounts due or to become due in respect of such Banking Services Obligations and Swap Agreement Obligations. The most recent information provided to the Administrative Agent shall be used in determining which tier of the waterfall, contained in Section 2.18(b), such Banking Services Obligations and/or Swap Agreement Obligations will be placed.

  • Deposit Account Payments Subsection (b) is amended to read as follows:

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

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