French Collection Account definition

French Collection Account means the collection account in the name of French FleetCo into which French Collections and the purchase price of French Facility Receivables shall be deposited.

French Collection Account means any account set forth on Schedule 5 (Facility Accounts and Account Banks) hereto under the heading “French Collection Accounts”, as such Schedule may be amended from time to time in accordance herewith.

French Collection Account means the Collection Account established by the Assignee with Citibank International plc, Paris Branch, and listed as such on Schedule II to the Receivables Purchase Agreement.

Examples of French Collection Account in a sentence

• If the French Originator receives Collections relating to Eligible Receivables sold hereunder, it shall deposit such Collections immediately into the French Collection Account and, prior to such deposit, it shall hold such Collections as agent for the Assignee.

• The French Originator will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any French Collection Account, cash or cash proceeds other than Collections of Pool Receivables, unless each holder of a Lien or ownership interest in such cash or cash proceeds is a party to the Intercreditor Agreement.

• For that purpose, pursuant to this Agreement and in accordance with the Receivables Purchase Agreement, the French Originator shall notify all of its French Obligors to make their payments directly to the French Collection Account.

• JDER has agreed that the French Collection Account it has opened with Citibank International plc, Paris Branch shall be specifically dedicated to receive (i) direct payments from the French Obligors under the Assigned Receivables and for a transitory period of time only (ii) daily credits from JohnsonDiversey France S.A.S.’ Société Générale bank account.

• At any time following the occurrence of any Termination Event which is continuing, the Agent may direct the French Obligors that payment of all amounts payable under any Pool Receivable be made directly to the French Collection Account or another account held in the name of the Seller or its designee.

More Definitions of French Collection Account

French Collection Account means each account established at a French Collection Bank into which funds shall be transferred as provided in Section 5.03(d).