Collateral Account Bank definition

Collateral Account Bank any bank or an Affiliate or branch thereof which at all times is the ABL Collateral Agent or a Lender or an Affiliate thereof as selected by the relevant Canadian Grantor and consented to in writing by the ABL Collateral Agent (such consent not to be unreasonably withheld or delayed).

Examples of Collateral Account Bank in a sentence

  • Not more frequently than once each Interest Accrual Period, Lender shall transfer to the Cash Collateral Account Bank an amount equal to the amount of the monthly fee payable to the Cash Collateral Account Bank under the Cash Collateral Account Agreement.

  • Each Borrower, the Operating Lessee, each Manager and Cash Collateral Account Bank shall have executed and delivered the Cash Collateral Account Agreement and shall have delivered an executed copy of such Cash Collateral Account Agreement to Lender.

  • On each Payment Date, Borrowers shall pay to Lender (for allocation as set forth herein) the Basic Carry Costs Monthly Installment, the Required Debt Service Payment, the Capital Reserve Monthly Installment and any and all fees and other amounts then due to the Cash Collateral Account Bank, all for the then Current Interest Accrual Period, except as otherwise provided in Section 2.11.

  • The Collateral Account Bank shall not be under any obligation to take any action under this Agreement which it expects will result in any expense or liability accruing to it, the payment of which within a reasonable time is not, in its opinion, assured to it.

  • Written notice of any such merger, conversion, consolidation or transfer shall immediately be given to the Issuer and (following delivery of a Note Acceleration Notice) the Security Trustee by the Collateral Account Bank.


More Definitions of Collateral Account Bank

Collateral Account Bank. The Chase Manhattan Bank or another bank which at all times is a Lender as selected by the Borrower and notified to the Administrative Agent in writing promptly following such selection.
Collateral Account Bank means Xxxxx Fargo Bank, N.A., in its capacity as Collateral Account Bank under the Collateral Account Agreement, and any successor thereto in such capacity.
Collateral Account Bank. Citibank, N.A., an Affiliate thereof or another bank which at all times is a Lender as selected by the relevant Grantor and consented to in writing by the Revolving Collateral Agent (such consent not to be unreasonably withheld or delayed).
Collateral Account Bank a bank or other financial institution as selected by the relevant Grantor; provided such Grantor shall not alter the Collateral Account Bank during the continuance of an Event of Default without the consent of the Note Collateral Agent (such consent not to be unreasonably withheld or delayed).
Collateral Account Bank any bank that is a Lender or any Affiliate thereof as selected by the relevant Grantor and consented to in writing by the Canadian Collateral Agent (such consent not to be unreasonably withheld or delayed).