Collection Bank definition

Collection Bank means, at any time, any of the banks holding one or more Collection Accounts.

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Collection Bank means, at any time, any bank at which a Collection Account or Lock-Box is maintained.

Collection Bank means any of Barclays, acting through its branch at Percy Street, Newcastle upon Tyne NE99 1JP and Lloyds TSB acting through its branch at City Office, Bailey Drive, Gillingham Business Park, Kent ME8 0LS and/or such other banks as may be appointed from time to time under and in accordance with the Transaction Documents;

Examples of Collection Bank in a sentence

• Promptly upon its receipt of any notice, request for consent, financial statements, certification, report or other communication under or in connection with any Transaction Document from Seller or any Collection Bank, copies of the same.

• The names and addresses of all Collection Banks, together with the account numbers of the Collection Accounts of the Borrower at each Collection Bank and the post office box number of each Lock-Box, are listed on Exhibit IV, as the same may be updated from time to time in writing delivered to the Administrative Agent by or on behalf of the Borrower.

• Except to the extent paid directly to the Administrative Agent by any Collection Bank pursuant to a Collection Notice, the Servicer shall deliver to the Administrative Agent all Collections held by the Servicer on each Settlement Date during the Liquidation Period for application pursuant to Section 2.3.

• 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.

• On each day during the Liquidation Period, except to the extent paid directly to the Administrative Agent by any Collection Bank pursuant to a Collection Notice, all Collections shall be held in trust for the Administrative Agent, for the benefit of the Lenders, by the Servicer until the next Settlement Date in a segregated account which is subject to a first priority perfected security interest in favor of the Administrative Agent (or retained in a Collection Account), for the benefit of the Lenders.

More Definitions of Collection Bank

Collection Bank means any of the banks holding one or more Collection Accounts or Lockboxes.

Collection Bank as defined in Section 4.16(c).

Collection Bank has the meaning provided in the Receivables Sale Agreement.

Collection Bank means, at any time, any of the banks holding one or more Blocked Accounts.

Collection Bank means any of Barclays, acting through its branch at Percy Street, Newcastle upon Tyne NE99 1JP and Lloyds TSB acting ▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇ Drive, Gillingham Business Park, Kent ME8 0LS and/or such ▇▇▇▇▇ ▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇ ▇nder and in accordance with the Transaction Documents;

Collection Bank shall have the meaning provided in Section 5.03(b).

Collection Bank means each of the banks listed in Schedule C hereto, as amended from time to time in accordance with Section 4.07(c), at which one or more Lock-boxes and/or Suspense Accounts and/or Collection Accounts are maintained.