Collection Account Agreement definition

Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

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 the Collection Account Agreement, dated as of the applicable date and executed by Borrower, Lender and the Collection Account Bank, relating to the Collection Account and the Reserve Accounts and any other accounts maintained with the Collection Account Bank.

Examples of Collection Account Agreement in a sentence

• In case any authorized signatory of the 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.

• Not later than 45 days after the date of this Agreement, the Administrative Agent shall have received each fully executed Collection Account Agreement with respect to each Collection Account, in form and substance satisfactory to the Administrative Agent.

• Subject to the terms of the applicable Collection Account Agreement, the Borrower has transferred to the Administrative Agent, for the benefit of the Lenders, exclusive “control” over each Lock‑Box and related Collection Accounts; provided, however, that the Borrower and its applicable Affiliates shall retain the right to direct dispositions of funds from the Lock‑Boxes and Collection Accounts prior to delivery of the Collection Notices.

• Subject to the terms of the applicable Collection Account Agreement, the Borrower shall grant to the Administrative Agent for the benefit of the Lenders “control” (within the meaning of the applicable UCC) over each Lock‑Box and Collection Account.

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

More Definitions of Collection Account Agreement

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 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 (i) with respect to each Lock-Box or Collection Account, an agreement, substantially in the form of Exhibit VI, among an Originator (if applicable), Seller, Agent and a Collection Bank, or any similar or analogous agreement among an Originator, Seller, Agent and a Collection Bank and (ii) with respect to each P.O. Box, a Postal Notice, in each case as such document may be amended, restated, supplemented or otherwise modified from time to time.

Collection Account Agreement means an agreement among an Originator, Seller, the Administrative Agent and a Collection Bank perfecting the Administrative Agent’s security interest in one or more Collection Accounts.

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 has the meaning provided in the Receivables Sale Agreement.

Collection Account Agreement means that certain Collection Account Agreement, dated the date of this Agreement, among the Borrower, the Servicer, the Lender’s Bank and the Lender, as such agreement may from time to time be amended, supplemented or otherwise modified in accordance with the terms thereof.