Examples of Inventory Concentration Account in a sentence
During each Sweep Period, all amounts deposited to the credit of the Inventory Concentration Account will be transferred to the Sweep Account pursuant to instructions given by the Administrative Agent to the depositary bank for the Inventory Concentration Account.
No deposits from any other source will be made to the Inventory Concentration Account.
The Inventory Concentration Account will be subject to the Control of the Administrative Agent.
Subject to the rights of the Administrative Agent, the depositary bank will be instructed to transfer all credit balances in the Inventory Concentration Account to such account or accounts as the Borrowers’ Agent may designate from time to time not later than the close of business on each Business Day.
In addition, all (i) payments by Equistar Receivables of the purchase price for Transferred Receivables pursuant to the Securitization Facility and (ii) other proceeds of sale or other disposition of Collateral will be deposited directly into the Inventory Concentration Account.
Subject to the rights of the Receivables Agent, the depositary bank will be instructed to transfer all credit balances in the Receivables Funding Account, other than such portion of such credit balances that such depositary bank is instructed to remit to the Receivables Agent pursuant to the Securitization Facility, to the Inventory Concentration Account not later than the close of business on each Business Day, and no other withdrawals shall be permitted.
Except to the extent remitted to the Receivables Agent pursuant to the Securitization Facility, all amounts deposited to the credit of the Receivables Funding Account will be transferred to the Inventory Concentration Account as contemplated by subsection (c) above.
Subject to the rights of the Administrative Agent, the depositary bank will be instructed to transfer all credit balances in the Inventory Concentration Account to such account or accounts as the Borrowers Agent may designate from time to time not later than the close of business on each Business Day.
Except to the extent remitted to the Receivables Agent pursuant to the 2007 Securitization Facility, all amounts deposited to the credit of the Receivables Funding Account will be transferred to the Inventory Concentration Account as contemplated by subsection (c) above.
Attached hereto as Schedule 11 is the account number, type of account and name and address of the financial institution for each of the Inventory Concentration Account, the Sweep Account and the Cash Collateral Account.