Canadian Payment Account definition

Canadian Payment Account means the Canadian Dollar account or the U.S. Dollar account of the Administrative Agent to which all monies constituting proceeds of Canadian Collateral shall be transferred from time to time in accordance with the provisions of the Canadian Security Agreement.

Canadian Payment Account means the Canadian Dollar account and the U.S. Dollar account maintained by the Administrative Agent to which all monies from time to time deposited to a Canadian Dominion Account constituting proceeds of Canadian Collateral considered in calculating the Canadian Borrowing Base are forwarded.

Canadian Payment Account means a US Dollar account of Canadian Lender at the Royal Bank of Canada for US Dollars agreed to by Revolving Administrative Agent and Parent and a Canadian Dollar account of Canadian Lender at the Royal Bank of Canada for Canadian Dollars agreed to by Revolving Administrative Agent and Parent or such other account of Canadian Lender as Revolving Administrative Agent may from time to time designate to Parent as the Canadian Payment Account for purposes of this Agreement and the other Financing Agreements.

Examples of Canadian Payment Account in a sentence

• Upon the occurrence and during the continuation of a Cash Dominion Event or an Event of Default, all monies properly deposited in the U.S. Payment Account shall be deemed to be voluntary prepayments of U.S. Obligations and applied to reduce outstanding Obligations and all monies properly deposited in the Canadian Payment Account shall be deemed to be voluntary prepayments of Canadian Obligations and applied to reduce outstanding Canadian Obligations.

• Such payments in respect of the Obligations and cash collateral shall be remitted by wire transfer in Federal funds to the US Payment Account and/or Canadian Payment Account (as applicable) or such other bank account of Agent, as Agent may, in its discretion, designate in writing to Administrative Borrower for such purpose.

• Upon the occurrence and during the continuation of a Cash Dominion Event, all monies properly deposited in the U.S. Payment Account shall be deemed to be voluntary prepayments of U.S. Revolver Loans and applied in accordance with Section 5.6 to reduce outstanding U.S. Revolver Loans and all monies properly deposited in the Canadian Payment Account shall be deemed to be voluntary prepayments of Canadian Revolver Loans and applied in accordance with Section 5.6 to reduce outstanding Canadian Revolver Loans.

• Interest shall be due until and including the next Business Day, if the amounts so paid by Borrowers to the US Payment Account and/or Canadian Payment Account (as applicable) or other bank account designated by Agent are received in such bank account later than 12:00 noon.

• Upon the occurrence and during the continuation of a Cash Dominion Event, all monies properly deposited in the U.S: Payment Account shall be deemed to be voluntary prepayments of U.S. Revolver Loans and applied in accordance with Section 5.6 to reduce outstanding U.S. Revolver Loans and all monies properly deposited in the Canadian Payment Account shall be deemed to be voluntary prepayments of Canadian Revolver Loans and applied in accordance with Section 5.6 to reduce outstanding Canadian Revolver Loans.

More Definitions of Canadian Payment Account

Canadian Payment Account means account no. 0000-00-0000000 of Agent at Canadian Reference Bank or such other account as Agent may from time to time designate to Administrative Borrower as the Canadian Payment Account.

Canadian Payment Account means Agent’s account at Bank of America Canada set forth on Schedule 1.1(g), or such other account of Bank of America Canada as Agent may from time to time designate to the Administrative Borrower as the Canadian Payment Account for purposes of this Agreement and the other Loan Documents.

Canadian Payment Account shall have the meaning set forth in Section 6.3(a) hereof.

Canadian Payment Account means US Dollar account no. 00002-4635-886 of Canadian Lender at Bank of Montreal for US Dollars and Canadian Dollar account no. 00002-1258-246 of Canadian Lender at Bank of

Canadian Payment Account means US Dollar account no. 00000-0000-000 of Canadian Lender at Bank of Montreal for US Dollars and Canadian Dollar account no. 00000-0000-000 of Canadian Lender at Bank of Montreal for Canadian Dollars or such other account of Canadian Lender as Agent may from time to time designate to Parent as the Canadian Payment Account for purposes of this Agreement and the other Financing Agreements.

Canadian Payment Account means account no. 0000000 (transit no. 10202) for Canadian Dollars of Xxxxx Fargo Capital Finance Corporation Canada at TD Canada Trust and account no. 0000000 (transit no. 10202) for US Dollars of Xxxxx Fargo Capital Finance Corporation Canada at TD Canada Trust or such other account of Xxxxx Fargo Capital Finance Corporation Canada or Agent as Agent may from time to time designate to Administrative Borrower as the Canadian Payment Account for purposes of this Agreement and the other Financing Agreements.

Canadian Payment Account means the account of Xxxxx Fargo Canada set forth on Schedule 2.3 or such other account of Xxxxx Fargo Canada, if any, which Agent may designate by notice to Administrative Borrower and to each Lender to be the Canadian Payment Account.