Joint Collection Account definition

Joint Collection Account means any account maintained by the Collateral Agent, in the joint name of the QI and the Collateral Agent (as a Collateral Account) pursuant to Section 2.5(a) of the Collateral Agency Agreement that (1) processes funds collected on behalf of each Legal Entity, (2) is used for identification and subsequent separation of the portion of such funds attributable to receipts of Hertz, HVF, and HGI and (3) is used to separate Relinquished Property Proceeds from Additional Subsidies.
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Joint Collection Account means any account maintained by the Collateral Agent, in the joint name of the QI and the Collateral Agent (as a Collateral Account) pursuant to Section 2.5(a) of the Collateral Agency Agreement and that is used for one or more of (1) the deposit of proceeds collected from Buyers and other purchasers of the Tangible Personal Property of Hertz, HVF, HGI and/or HCS, (2) the identification and subsequent separation of the portion of such funds that are Relinquished Property Proceeds from the portion of such funds that are Non-Qualified Funds, and (3) the deposit of any Additional Subsidies as Exchangor may direct.
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Joint Collection Account means any account maintained by the Collateral Agent, in the joint name of the QI and the Collateral Agent (as a Collateral Account) pursuant to Section 2.5(a) of the Collateral Agency Agreement and that is used for one or more of (1) the deposit of proceeds collected from Buyers and other purchasers of the Tangible Personal Property of Hertz, HVF, HGI and/or HCS, (2) the identification and subsequent separation of the
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Examples of Joint Collection Account in a sentence

  • HVF shall provide notice to the Trustee of any transfer from (i) a Joint Collection Account to the Collection Account or any Segregated Collection Account, an HVF Exchange Account or an HVF Segregated Exchange Account and (ii) an HVF Exchange Account or an HVF Segregated Exchange Account to an HGI Exchange Account.

  • On each Business Day, the QI shall cause the bank maintaining each Joint Collection Account or Exchange Account to cause the amount, if any, set forth in the instructions described in Section 4.02(a)(i) or (a)(ii), to be transferred from such Joint Collection Account to the applicable Exchange Account or the Joint Disbursement Account.

  • All proceeds received from Buyers by or on behalf of the QI or a Legal Entity in respect of sales of Relinquished Property shall be immediately deposited in a Joint Collection Account.

  • On each Business Day, the QI shall cause the bank maintaining each Joint Collection Account or Exchange Account to cause the amount, if any, set forth in the instructions described in Section 4.02(a)(i) or (a)(ii) hereof, to be transferred from such Joint Collection Account to the applicable Exchange Account.

  • HVF shall provide notice to the Trustee of any transfer from (i) a Joint Collection Account to the Collection Account or an HVF Exchange Account and (ii) an HVF Exchange Account to an HGI Exchange Account.

  • If the QI does not approve of any of such proposed Electronic Funds Transfers of Relinquished Property Proceeds, the QI shall immediately notify (1) the applicable Legal Entity, and in the case of Relinquished Property Proceeds of HVF, the Trustee, and (2) the banking institution maintaining the applicable Joint Collection Account or Exchange Account via telephone or fax (any such notice given by telephone to be confirmed in writing), of the disapproval and the reasons for such disapproval.

  • Any such payments from Manufacturers or related auction dealers received directly by AESOP Leasing, will be, within two (2) Business Days of receipt, deposited into the Collection Account or a Joint Collection Account.

  • Cause each Manufacturer and each auction dealer with respect to such Manufacturer to make all payments made by it under the Manufacturer Programs with respect to Vehicles leased hereunder directly to the Collection Account or a Joint Collection Account.

  • If at any time a Responsible Officer of the Indenture Trustee obtains knowledge that a Joint Collection Account is no longer an Eligible Deposit Account, the Indenture Trustee shall, within 30 days of obtaining such knowledge, establish in conjunction with the Intermediary a new Joint Collection Account that is an Eligible Deposit Account and transfer into the new Joint Collection Account all cash and investments from the non-qualifying Joint Collection Account.

  • AESOP Leasing will cause each Manufacturer and auction dealer to make all payments under the Manufacturer Programs with respect to Program Vehicles, including all payments with respect to Relinquished Vehicles, directly to the Collection Account or a Joint Collection Account, as applicable.