Examples of US Collection Accounts in a sentence
Team-of-Team is an organizational structure that offers flexibility and adaptability to face VUCA, one practice that differentiates this structure from other structures is the role- switching system, ICEE practice this system by switching the roles or/and the location of their members, ICEE members can become a team leader or place in other roles on different location depending on the organization needs.
The balances in the US Collection Accounts in the case of US Loan Parties, the balances in the Belgian Collection Accounts in the case of Belgian Loan Parties, and the balances in the Luxembourg Collection Accounts in the case of Luxembourg Loan Parties as of the end of a Business Day shall be applied to the Obligations of such Borrower or Borrowers at the beginning of thenext Business Day during any Cash Dominion Event.
All funds deposited in such U.S. Collection Accounts shall immediately become the property of Agent and Loan Parties shall obtain the agreement by such Blocked Account Bank to waive any offset rights against the funds so deposited.
All proceeds of Collateral of the Canadian Loan Parties shall be deposited by the Canadian Loan Parties into either (A) a collection account established at a Canadian bank or banks (each such bank, a “Canadian Blocked Account Bank”) or (B) a collection account established at PNC Canada or an Affiliate of PNC for the deposit of such proceeds (all such accounts the “Canadian Collection Accounts” and together with the U.S. Collection Accounts, the “Collection Accounts”).
Each US Loan Party, Agent and the banks listed on Schedule 4.15 that maintain deposit accounts of such Loan Party as of the Closing Date or other banks selected by the Company and reasonably acceptable to Agent (the “US Collection Banks”) shall, within the Post Closing Period enter into and thereafter maintain Control Agreements in respect of each of the US Collection Accounts.
Collateral Agent and Lenders assume no responsibility to Grantors for any lockbox arrangement, U.S. Collection Accounts, the Core U.S. Concentration Account or the U.S. Dominion Account, including any claim of accord and satisfaction or release with respect to any payment items accepted by any bank.
Account Security Agreements Such Seller will cause all U.S. Collection Accounts which receive Collections related to the Acquired Receivables sold by such Seller to be subject at all times to a U.S. Account Security Agreement duly executed by such Seller.
The Transferor authorizes the Transferee, the Administrative Agent or any of their respective assignees to file any registrations, notices of charge or other instruments similar in effect in any jurisdiction, and amendments thereto, relating to the Acquired Receivables, the Receivables Property and the U.S. Collection Accounts without the signature of the Transferor.
The Transferor will cause all U.S. Collection Accounts which receive Collections related to the Acquired Receivables sold by the Transferor to be subject at all times to a U.S. Account Security Agreement duly executed by the Transferor.
During any Dominion Trigger Period, all amounts deposited in the U.S. Collection Accounts shall be deemed received by the Administrative Agent in accordance with Section 2.18 of the Credit Agreement and shall, after having been credited to the U.S. Collection Accounts, be applied (and allocated) by Administrative Agent in accordance with Section 2.10(b) of the Credit Agreement.