Examples of Concentration Account in a sentence
If the amount of funds available for transfer from the Concentration Account or the amount of funds available above the predetermined target amount in the Concentration Account is not sufficient to pay all Items presented for payment on any given Business Day, we may return the Items for insufficient funds.
We shall not be required to make any transfer from the Concentration Account in excess of the funds therein, and in the event there are not sufficient collected funds in the Concentration Account to make all of the transfers required, we may allocate the funds among your designated Subsidiary Accounts in our sole and absolute discretion.
You shall maintain sufficient available balances in the Concentration Account to cover the amounts transferred by us.
Deposits made to ZBAs are also automatically transferred to the Concentration Account.
The proceeds of each Specified Event shall be deposited into the Concentration Account (as defined in the First Lien Credit Agreement) and applied to the payment of the Obligations then outstanding in accordance with Section 2.05(b) of this Agreement, subject to the terms and conditions of the Intercreditor Agreement.