Dedicated Receivables Accounts definition

Dedicated Receivables Accounts means bank accounts of the Borrowers and their Subsidiaries, or any one of them, (a) used to collect, receive and hold accounts receivable owed to any Borrower or any Subsidiary arising in the ordinary course of business from the sale of goods or services that are the subject of a Permitted Securitization or Permitted Factoring Arrangement or (b) into which solely funds constituting the purchase price or other payments received from any Qualified Factoring Agent in connection with a Permitted Factoring Arrangement or any Securitization Subsidiary in connection with a Permitted Securitization are credited, which bank accounts do not at any time, in the aggregate, hold on deposit more than €20,000,000 of funds of any Loan Party or any Subsidiary other than funds (1) described in clause (a) of this definition and (2) in case of Permitted Factoring Arrangements with an originator/seller having its corporate seat in Germany or Switzerland, funds that are required to be used to satisfy in the ordinary course of business obligations owed by the Borrowers or their Subsidiaries to suppliers provided such obligations are resulting from the supply of assets that are underlying the account receivables described in clause (a) above.
Sample 1
Dedicated Receivables Accounts means bank accounts of the Borrowers and their Subsidiaries, or any one of them, (a) used to collect, receive and hold accounts receivable owed to any Borrower or any Subsidiary arising in the ordinary course of business from the sale of goods or services that are the subject of a Permitted Securitization or Permitted Factoring Arrangement or (b) into which funds constituting the purchase price or similar payments received from any Qualified Factoring Agent in connection with a Qualified Factoring Arrangement or any NY\6497185.2 Securitization Subsidiary in connection with a Permitted Securitization (but excluding, for the avoidance of doubt, collections on receivables) are credited, which bank accounts do not at any time, in the aggregate, hold on deposit more than €5,000,000 of funds of any Loan Party or any Subsidiary other than funds described in clause (a) of this definition.
Sample 1
Dedicated Receivables Accounts means bank accounts of the Borrowers and their Subsidiaries, or any one of them, (a) used to collect, receive and hold accounts receivable owed to any Borrower or any Subsidiary arising in the ordinary course of business from the sale of goods or services that are the subject of a Permitted Securitization or Permitted Factoring Arrangement or (b) into which funds constituting the purchase price or similar payments received from any Qualified Factoring Agent in connection with a Qualified Factoring Arrangement or any Securitization Subsidiary in connection with a Permitted Securitization (but excluding, for the avoidance of doubt, collections on receivables) are credited, which bank accounts do not at any time, in the aggregate, hold on deposit more than €5,000,000 of funds of any Loan Party or any Subsidiary other than funds described in clause (a) of this definition.
Sample 1

Related to Dedicated Receivables Accounts

  • Excluded Receivables means, as of any date of determination, all accounts receivable referred to in Item 1 of Schedule 7.01.

  • Purchased Receivables means all those accounts, receivables, chattel paper, instruments, contract rights, documents, general intangibles, letters of credit, drafts, bankers acceptances, and rights to payment, and all proceeds thereof (all of the foregoing being referred to as "receivables"), arising out of the invoices and other agreements identified on or delivered with any Invoice Transmittal delivered by Seller to Buyer which Buyer elects to purchase and for which Buyer makes an Advance.

  • Credit Card Receivables means each “payment intangible” (as defined in the UCC) together with all income, payments and proceeds thereof, owed by a Credit Card Issuer or Credit Card Processor to a Loan Party resulting from charges by a customer of a Loan Party on credit or debit cards issued by such Credit Card Issuer in connection with the sale of goods by a Loan Party, or services performed by a Loan Party, in each case in the ordinary course of its business.

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

  • Permitted Receivables Related Assets means any other assets that are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving receivables similar to Receivables and any collections or proceeds of any of the foregoing.

  • Excluded Accounts means any deposit account or securities account used exclusively as (a) payroll and other employee wage and benefit accounts, (b) tax accounts, including sales tax accounts, (c) escrow, fiduciary or trust accounts, (d) zero balance accounts and (e) the funds or other property held in or maintained in any such account identified in clauses (a) through (d).

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

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

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

  • Excluded Account means (a) any deposit account specifically and exclusively used for payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any Loan Party’s employees and (b) any Xxxxx Cash Accounts.

  • Ineligible Receivables shall have the meaning specified in subsection 2.05(a).

  • Receivables Pool means, at any time of determination, all of the then outstanding Receivables transferred (or purported to be transferred) to the Borrower pursuant to the Purchase and Sale Agreement prior to the Termination Date.

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

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

  • Receivables Related Assets means accounts receivable, instruments, chattel paper, obligations, general intangibles and other similar assets, in each case relating to receivables subject to the Permitted Receivables Facility, including interests in merchandise or goods, the sale or lease of which gave rise to such receivables, related contractual rights, guaranties, insurance proceeds, collections and proceeds of all of the foregoing.

  • Excluded Receivable means all indebtedness and other obligations owed to Originator or in which Originator has a security interest or other interest (including, without limitation, any indebtedness, obligation or interest constituting an account, chattel paper, instrument or general intangible) arising in connection with the sale of merchandise or the rendering of services by Originator and further includes, without limitation, the obligation to pay any Finance Charges with respect thereto:

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Permitted Receivables Documents means all documents and agreements evidencing, relating to or otherwise governing a Permitted Receivables Financing.

  • Eligible Receivables means and include with respect to each Borrower, each Receivable of such Borrower arising in the Ordinary Course of Business and which Agent, in its sole credit judgment, shall deem to be an Eligible Receivable, based on such considerations as Agent may from time to time deem appropriate. A Receivable shall not be deemed eligible unless such Receivable is subject to Agent’s first priority perfected security interest and no other Lien (other than Permitted Encumbrances), and is evidenced by an invoice or other documentary evidence satisfactory to Agent. In addition, no Receivable shall be an Eligible Receivable if:

  • Transferred Receivable means a Purchased Receivable or a Contributed Receivable.

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

  • 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.

  • Eligible Credit Card Receivables means at the time of any determination thereof, each Credit Card Receivable that satisfies the following criteria at the time of creation and continues to satisfy such criteria at the time of such determination: such Credit Card Receivable (i) has been earned by performance and represents the bona fide amounts due to a Loan Party from a Credit Card Issuer or Credit Card Processor, and in each case is originated in the ordinary course of business of such Loan Party, and (ii) in each case is not ineligible for inclusion in the calculation of the Borrowing Base, pursuant to any of clauses (a) through (g) below. Without limiting the foregoing, to qualify as an Eligible Credit Card Receivable, an Account shall indicate no Person other than a Loan Party as payee or remittance party. In determining the amount to be so included, the face amount of an Account shall be reduced by, without duplication, to the extent not reflected in such face amount, (i) the amount of all accrued and actual discounts, claims, credits or credits pending, promotional program allowances, price adjustments, finance charges or other allowances (including any amount that a Loan Party may be obligated to rebate to a customer, a Credit Card Issuer or Credit Card Processor pursuant to the terms of any agreement or understanding (written or oral)) and (ii) the aggregate amount of all cash received in respect of such Account but not yet applied by the Loan Parties to reduce the amount of such Credit Card Receivable. Except as otherwise agreed by the Agent, any Credit Card Receivable included within any of the following categories shall not constitute an Eligible Credit Card Receivable:

  • Receivables means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or claims to receive money which are General Intangibles or which are otherwise included as Collateral.

  • Excluded Deposit Accounts means (i) any payroll account, (ii) any withholding tax, benefits, escrow, trust, customs or any other fiduciary account and (iii) any zero balance deposit account.

  • Designated Accounts as used in any security agreement means both the Designated Accounts hereunder and the “Designated Accounts” in the comparable agreement entered into with respect to any other Pledgor.