Initial Account definition

Initial Account has the meaning specified in the Transfer Agreement.

Initial Account means each charge account established pursuant to an Account Agreement between Centurion and any Person, which account is identified in the Account Schedule delivered or caused to be delivered by Centurion to TRS on the Closing Date.

Initial Account means a floorplan financing account established with a Dealer pursuant to a Floorplan Financing Agreement that is identified in the Initial Account Schedule.

Examples of Initial Account in a sentence

• As of the Cut-Off Date, the Initial Account Schedule is an accurate and complete listing in all material respects of all the Initial Accounts and the information contained therein with respect to the identity of such Initial Accounts and the Principal Receivables arising in connection therewith is true and correct in all material respects as of the Cut-Off Date.

• As of the Cut-Off Date, the Initial Account Schedule is an accurate and complete listing in all material respects of all the Initial Accounts and the information contained therein with respect to the identity of such Initial Accounts and the Principal Receivables arising in connection therewith is true and correct in all material respects.

• Each (A) Initial Account was an Eligible Account as of the Cutoff Date, (B) Additional Account is an Eligible Account as of the applicable Additional Cutoff Date and (C) Account is an Eligible Account as of each Series Cutoff Date.

• The Issuer accepts all right, title and interest previously held by the Depositor to the property, now existing and hereafter created, conveyed to the Issuer pursuant to Section 2.1. The Issuer confirms that, on or before the first Closing Date, it received the Initial Account Schedule.

• Receivables arising after the Closing Date in the Initial Accounts (unless such Initial Account has become a Removed Account) and the related Purchased Assets shall be sold by TRS and purchased by RFC VIII on the date such Receivables arise.

More Definitions of Initial Account

Initial Account means each VISA and MasterCard revolving credit card account existing on the Trust Cut-Off Date and established pursuant to a Lending Agreement, which account is identified on the Account Schedule delivered to the Trustee by the Transferor on the Substitution Date.

Initial Account means, as of the Cut-Off Date, an Eligible Credit Card Account that satisfies the Account Eligibility Criteria and is listed on the computer file delivered to the Custodian on July 27, 2020 pursuant to the Pooling and Servicing Agreement.

Initial Account means each individual wholesale financing account established by CCC with a Dealer pursuant to a Floorplan Financing Agreement which is identified in the computer file or microfiche or written list delivered to the Trustee on the first Closing Date by the Seller pursuant to Section 2.01.

Initial Account means each credit or charge account or line of credit (if, with respect to the line of credit, the full receivable balance is not due upon receipt of a monthly billing statement (excluding the billing statement with respect to the final payment of such balance) and the line of credit contains an indicator as described in Subsection 2.01(c)) established pursuant to an Account Agreement between FSB and any Person, which account or line of credit is identified in the Account Schedule delivered to RFC IV by FSB on the Closing Date.

Initial Account means each individual revolving credit arrangement established by an Originator with a Dealer which was identified in the Account Schedule delivered to the Indenture Trustee on or prior to the Closing Date.

Initial Account means each charge account established pursuant to an Account Agreement between an Account Owner and any Person, which account is identified in the computer file or microfiche list delivered to the Issuer and the Indenture Trustee on the Execution Date by the Transferor pursuant to Section 2.1.

Initial Account means each Optima® Card, Optima Line of Credit and Sign and Travel® credit account established pursuant to an Account Agreement between Centurion Bank or other Account Owner and any Person, which account is identified in the computer file or microfiche list delivered to the Trustee by the Transferors pursuant to Section 2.01 on the Substitution Date.