Credit Card Collection Account definition

Credit Card Collection Account means any deposit account maintained by Borrowers for the purpose of collecting proceeds of Credit Card Receivables, which is established and maintained at an institution reasonably satisfactory to Lender and subject to the Lender’s first priority security interest and Lender’s exclusive control pursuant to a Control Agreement; provided that, notwithstanding Lender’s exclusive control, the applicable Credit Card Processor may have rights to debit such deposit account for unpaid processing fees, chargebacks and other amounts due under the applicable Credit Card Agreement.
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Examples of Credit Card Collection Account in a sentence

  • Receipts from the Collection Account, the Credit Card Collection Account, and the Internet Accounts are used to pay down the LOC Accounts.

Related to Credit Card Collection Account

  • Collection Accounts As defined in Section 3.10(a).

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Credit Card Account means the Account of the Cardmember opened with Maybank for the purpose of this Agreement;

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Interest Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • 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.

  • Principal Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Finance Charge Account is defined in Section 4.9(a).

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Concentration Account Agreement as defined in subsection 4.16(b).

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Note Account As defined in the Indenture.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Online Account means the Bank account from which you will be conducting transactions using a Service;

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).