Examples of Collection Deposit Account in a sentence
Each Grantor shall use all reasonable efforts to cause each Account Debtor and every other Person identified in the preceding sentence to make all payments with respect to the Accounts included in the Collateral directly to such Collection Deposit Account.
Each financial institution with which a Collection Deposit Account is maintained is referred to herein as a “Collection Deposit Bank”.
Effective upon such notice, the Sub-Agent shall be entitled to rely on, and shall act in accordance with, all instructions given to it by the Collateral Agent with respect to the Collection Deposit Account.
Each Grantor shall use all reasonable efforts to cause each Account Debtor and every other Person identified in the preceding sentence to make all payments with respect to the Accounts Receivable or Inventory either directly to a Collection Deposit Account or a Cash Concentration Account; provided that Credit Card Payments shall be made directly to the Cash Concentration Account.
The Company shall during the term of this Agreement maintain the existing cash management system including its network of Lockbox, Collection Deposit Account and Concentration Account pursuant to the Collection Bank Agreement and the Concentration Bank Agreement.