Canadian Collection Accounts definition

Canadian Collection Accounts means the Collection Accounts identified on Schedule II as a Collection Account domiciled in Canada to be novated by the applicable Canadian Originator to the Borrower pursuant to Section 7.01(y)(iii).
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Canadian Collection Accounts shall have the meaning provided in Section 8.12(c)(iii).
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Examples of Canadian Collection Accounts in a sentence

  • On and after the First Post-Closing Date, each Canadian Lock-Box and Canadian Collection Account will be or is in the name of the Canadian Guarantor, and the Canadian Guarantor owns and will have or has good and marketable title to the Canadian Collection Accounts free and clear of any Adverse Claim.

  • Each Canadian Credit Party shall instruct all Account Debtors of the Canadian Credit Parties to remit all payments to the “P.O. Boxes” or “Lockbox Addresses” of the depositary banks maintaining Canadian Collection Accounts (or to remit such payments to the applicable depositary bank by electronic settlement) with respect to all Accounts of such Account Debtor, which remittances shall be collected by such depositary banks and deposited in a Canadian Collection Account.

  • Each Canadian Credit Party shall instruct all Account Debtors of the Canadian Credit Parties to remit all payments to the "P.O. Boxes" or "Lockbox Addresses" of the depositary banks maintaining Canadian Collection Accounts (or to remit such payments to the applicable depositary bank by electronic settlement) with respect to all Accounts of such Account Debtor, which remittances shall be collected by such depositary banks and deposited in a Canadian Collection Account.

  • Each Canadian Guarantor, 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 “Canadian Collection Banks”) shall, within the Post Closing Period enter into and thereafter maintain Control Agreements in respect of each of the Canadian Collection Accounts.

  • Each Canadian Lock-Box and Canadian Collection Account will be or is in the name of the Canadian Guarantor, and the Canadian Guarantor owns and will have or has good and marketable title to the Canadian Collection Accounts free and clear of any Adverse Claim.

  • Each Canadian Collection Account and associated Lock-Box is in the name of the Canadian Guarantor, and the Canadian Guarantor owns and will have or has good and marketable title to the Canadian Collection Accounts free and clear of any Adverse Claim.

  • All amounts held in the Canadian Collection Accounts and Canadian Disbursement Accounts (other than Excluded Accounts) with respect to the Canadian Guarantors shall be transferred by an electronic funds transfer method acceptable to Agent by the close of business on each Business Day to an account with a financial institution selected by the Company, reasonably acceptable to Agent and subject to a Control Agreement (the “Canadian Concentration Account”).

  • The Administrative Agent shall hold and apply funds received into the Canadian Collection Accounts as provided by the terms of Section 7.3.

  • The Canadian Concentration Accounts pool funds, via daily sweeps, from the Canadian Collection Accounts and Canadian Store Depository Accounts (each as defined below).

  • Collateral Agent and Lenders assume no responsibility to any Grantor for any lockbox arrangement, Canadian Collection Accounts, the Core Canadian Concentration Account or the Canadian Dominion Account, including any claim of accord and satisfaction or release with respect to any payment items accepted by any bank.

Related to Canadian Collection Accounts

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Collection Accounts As defined in Section 3.10(a).

  • Principal Collection Account means a segregated, non-interest bearing securities account (within the meaning of Section 8-501 of the UCC) number 172148-202, which is created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties, which is established and maintained pursuant to Section 8.1(a).

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Final Collection Date means the date on or following the Termination Date on which the Outstanding Loan Amount has been reduced to zero and all other Borrower Obligations have been paid in full.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "Wachovia Bank, National Association, as Trustee f/b/o holders of Xxxxxxx Xxxxx Mortgage Investors, Inc., Mortgage Pass-Through Certificates, MLMI Series 2005-A1 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Principal Account(s means deposit accounts of the Fund carried on the books of BBH&Co. as principal in accordance with Section 7 hereof.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Principal Collection Subaccount The meaning specified in Section 10.2(a).

  • Finance Charge Account is defined in Section 4.9(a).

  • Prepayment Account means an account established by the Borrower with the Administrative Agent and over which the Administrative Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this paragraph (h). The Administrative Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account in Permitted Investments that are described in clause (a), (b), (c) or (d) of the definition of such term and that mature prior to the last day of the applicable Interest Periods of the Eurodollar Term Borrowings or Eurodollar Revolving Borrowings to be prepaid, as the case may be; provided, however, that (i) the Administrative Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Administrative Agent to be in, or would result in any, violation of any law, statute, rule or regulation and (ii) the Administrative Agent shall have no obligation to invest amounts on deposit in the Prepayment Account if a Default or Event of Default shall have occurred and be continuing. The Borrower shall indemnify the Administrative Agent for any losses relating to the investments so that the amount available to prepay Eurodollar Borrowings on the last day of the applicable Interest Period is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest earned on such investments, the Prepayment Account shall not bear interest. Interest or profits, if any, on such investments shall be deposited in the Prepayment Account and reinvested and disbursed as specified above. If the maturity of the Loans has been accelerated pursuant to Article VIII, the Administrative Agent may, in its sole discretion, apply all amounts on deposit in the Prepayment Account to satisfy any of the Obligations. The Borrower hereby grants to the Administrative Agent, for its benefit and the benefit of the Fronting Bank, the Swingline Lender and the Lenders, a security interest in the Prepayment Account to secure the Obligations.

  • Reallocated Principal Collections means, with respect to any Monthly Period, the product of (a) the Principal Allocation Percentage with respect to such Monthly Period, (b) the aggregate amount of Collections in respect of Principal Receivables deposited in the Collection Account for such Monthly Period and (c) the sum of the Class B Floating Percentage and the Collateral Floating Percentage with respect to such Monthly Period.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Unallocated Principal Collections shall have the meaning specified in subsection 4.05(d).

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Collection Account Agreement means an agreement in form reasonably acceptable to the Administrative Agent among Buyer, the Administrative Agent and a Collection Bank.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.