Collection Account Agreement definition

Collection Account Agreement means that certain Collection Account Agreement, dated the Closing Date, among the Borrower, the Servicer, the Account Bank, the Administrative Agent and the Collateral Agent, governing the Collection Account and which permits the Collateral Agent on behalf of the Secured Parties to direct disposition of the funds in the Collection Account, as such agreement may be amended, modified or supplemented from time to time in accordance with its terms.
Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.
Collection Account Agreement means an agreement in form reasonably acceptable to the Administrative Agent among Buyer, the Administrative Agent and a Collection Bank.

Examples of Collection Account Agreement in a sentence

  • Borrower will cause (1) all proceeds from all Lock-Boxes to be directly deposited by a Collection Bank into a Collection Account and (2) each Lock-Box and Collection Account to be subject at all times, to a Collection Account Agreement that is in full force and effect.

  • In case any authorized signatory of Borrower whose signature appears on a Collection Account Agreement shall cease to have such authority before the delivery of such notice, such Collection Notice shall nevertheless be valid as if such authority had remained in force.

  • The Collection Accounts are governed by a Deposit Account Control Agreement as to non-governmental receivables and a Collection Account Agreement as to governmental receivables.

  • The Administrative Agent shall have received counterparts (whether by facsimile or otherwise) of each of (i) the Fee Letter, (ii) the Collection Account Agreement Amendment and (iii) the Repurchase Agreement (the Repurchase Agreement, together with the Fee Letter and the Collection Account Agreement Amendment, collectively, the “Related Agreements”), in each case, executed by each of the parties thereto.

  • The Deposit Account Control Agreement, the Collection Account Agreement and other ancillary documents direct the funds in the Collection Accounts to be swept each business day, into one or more payment or destination accounts, whereupon the funds are then used by Midcap to reduce the amounts extended under the revolving lines of credit for the Spectrum Borrowers and Spectrum Derby.


More Definitions of Collection Account Agreement

Collection Account Agreement means with respect to each Collection Account and Lock-Box, if applicable, a valid and enforceable agreement in form and substance reasonably satisfactory to the Agent, among the Seller, the Servicer, the Agent and any Collection Bank, whereupon the Seller, as sole owner of the related Collection Account and the customer of the related Collection Bank in respect of such Collection Account, shall transfer to the Agent exclusive dominion and control over and otherwise perfect a first-priority security interest in, such Collection Account and the cash, instruments or other property on deposit or held therein.
Collection Account Agreement means, in the case of any actual or proposed Collection Account, an agreement in substantially the form of Exhibit V hereto.
Collection Account Agreement means an agreement substantially in the form of Exhibit VI among an Originator, Seller, the Administrative Agent and a Collection Bank.
Collection Account Agreement has the meaning provided in the Receivables Sale Agreement.
Collection Account Agreement means, with respect to each Collection Account, a deposit account control agreement (or similar agreement), among the Seller, the Servicer, the Administrator and a Bank providing the Administrator with control of such Collection Account and the right to assume exclusive control of such Collection Account.
Collection Account Agreement has the meaning set forth in Section 2.11(b).
Collection Account Agreement means a written agreement among the Borrower, the Agent, and, as applicable, each of the banks at which the Borrower maintains a Collection Account.