Examples of Customer Collections Account Administration Agreement in a sentence
Within three (3) Business Days after receiving direction from the Required Lenders, each of the Agent and the Borrower (acting at the direction of the Agent) shall sever itself as a “Beneficiary” under the Customer Collections Account Administration Agreement (the “Customer Collections Account Administration Agreement Severance”) in accordance with Section 11(c) thereof and deliver the Payment Notice/Lessor Rights Notice to any and all Lessees with respect to any and all of the Portfolio Leases.
The Borrower also shall notify and instruct each Lessee that all payments due or to become due under each Portfolio Lease (except for Excepted Payments (which shall be payable to the Persons for whose benefit any such payment is made)) or otherwise in respect of amounts and other receivables of the Borrower are to be made directly to the Customer Payments Account (or, after the occurrence of the Customer Collections Account Administration Agreement Severance, the Collection Account).
The Agent shall have received a supplement to the Customer Collections Account Administration Agreement, duly executed by TILC, the Collateral Agent, the Agent, and the Delaware Trustee of the Customer Collections Account Administration Agreement, and certified by a Responsible Officer of the Delaware Trustee as a true and correct copy thereof.
The Manager hereby agrees to allocate all Cash Flow from the Customer Payments Account to the Collections Account on a daily basis, and shall provide written notice thereof (which notice may be made by facsimile or electronic mail) to the Agent [on a daily basis], in each case in accordance with the Customer Collections Account Administration Agreement.
Clause (i) of Section 2.01 of the Depository Agreement is hereby amended by inserting the parenthetical "(or, after the occurrence of the Customer Collections Account Administration Agreement Severance (or otherwise at the direction of the Agent (as directed by the Required Lenders)), the Collection Account)" immediately after the words "Customer Payments Account" contained therein.