Obligor Account definition

Obligor Account. Defined in Section 5.1(d).
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Obligor Account means any of them.
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Obligor Account shall have the meaning assigned to it on ANNEX C.
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Examples of Obligor Account in a sentence

  • As in the case of any other Obligor Account, the balance on the Income Replacement Account will be applied as and when determined by the Obligor Security Trustee in accordance with the Security Group Post-Enforcement (Post-Acceleration) Priority of Payments after delivery of a Loan Acceleration Notice.

  • The amount (if any) standing to the credit of any Obligor Account maintained with a retiring or removed Borrower Account Bank shall be transferred to the corresponding Obligor Account maintained with a new Borrower Account Bank appointed pursuant to the Borrower Account Bank Agreement forthwith upon such appointment taking effect.

  • Under the terms of the mandate governing each account, the Account Bank has agreed to comply with the instructions set out therein in relation to each Obligor Account and each Issuer Account.The Account Bank has been assigned short-term credit ratings of F1+ and A-1+ from Fitch and S&P respectively and long-term credit ratings of AA- and AA- from Fitch and S&P respectively.

  • Following the acquisition of the Securitised Senior Loan by the Issuer, on each Senior Loan Payment Date, the Senior Loan Facility Agent will transfer (to the extent funds are available for such purpose) all amounts then due to the Issuer (as lender under the Securitised Senior Loan) under the Senior Facility Agreement from the relevant Senior Obligor Account, directly or indirectly, as the case may be, to the Issuer Transaction Account.

  • In particular, the Notes will not be obligations or responsibilities of, and will not be guaranteed by, the Note Trustee, the Arranger, the Lead Manager, the Liquidity Facility Provider, the Swap Counterparty, the Working Capital Facility Provider, the Cash Administrator, the Issuer Account Bank, the Obligor Account Bank, the Paying Agents, the Agent Bank, the Security Trustee or the members of the Securitisation Group.


More Definitions of Obligor Account

Obligor Account means, in respect of each Obligor, each of the accounts listed in Part 2 of Schedule 11 (The Accounts) and any other account of such Obligor from time to time with the Bank or any other branch of Deutsche Bank AG, in each case, including any sub-account and as amended and replaced from time to time;
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Related to Obligor Account

  • Note Account As defined in the Indenture.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

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

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Direct Account : means any Account which is not an ISA Account.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Investment Account As defined in Section 3.12(a).

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

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

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

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Administration Account As defined in Section 7.02.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

  • Qualified Account means an Account of Borrower generated in the ordinary course of Borrower's business from the rendition of Healthcare Services pursuant to a Customer Contract which Lender, in its sole credit judgment, deems to be a Qualified Account. Without limiting the generality of the foregoing, no Account shall be a Qualified Account if: (a) the Account or any portion of the Account is payable by an individual beneficiary, recipient or subscriber individually and not directly to Borrower by an Account Debtor acceptable to Lender in its sole discretion; (b) the Account remains unpaid more than one hundred and twenty (120) calendar days past the claim or invoice date (but in no event more than one hundred and thirty five (135) calendar days after the applicable Healthcare Services have been rendered); (c) the Account is subject to any defense, set-off, counterclaim, deduction, discount, credit, chargeback, freight claim, allowance, or adjustment of any kind; (d) any part of any goods the sale of which has given rise to the Account has been returned, rejected, lost, or damaged; (e) if the Account arises from the sale of goods by Borrower, the sale was not an absolute sale, or the sale was made on consignment or on approval or on a sale-or-return basis, or the sale was made subject to any other repurchase or return agreement, or the goods have not been shipped to the Account Debtor or its designee; (f) if the Account arises from the performance of Healthcare Services, where the Healthcare Services have not been actually been performed or the Healthcare Services were undertaken in violation of any law; (g) the Account is subject to a lien other than a Permitted Lien; (h) Borrower knows or should have known of the bankruptcy, receivership, reorganization, or insolvency of the Account Debtor; (i) the Account is evidenced by chattel paper or an instrument of any kind, or has been reduced to judgment; (j) the Account is an Account of an Account Debtor having its principal place of business or executive office outside the United States; (k) the Account Debtor is an Affiliate or Subsidiary of Borrower; (l) more than twenty percent (20%) of the aggregate balance of all Accounts owing from the Account Debtor obligated on the Account are outstanding more than one hundred and twenty (120) calendar days past their invoice date; (m) fifty percent (50%) or more of the aggregate unpaid Accounts from any single Account Debtor are not deemed Qualified Accounts under this Agreement; (n) the total unpaid Accounts of any single Account Debtor exceed twenty percent (20%) of the net amount of all Qualified Accounts; (o) any covenant, representation or warranty contained in the Loan Documents with respect to such Account has been breached; (p) any Account which is based on a contract which is invoiced and/or paid based on a percentage of completion basis; (q) any Account which is based on a contract in which Borrower is paid for services and which services have not yet been fully provided by Borrower; (r) any license fee (other than fees which are paid on a month-to-month basis and are otherwise eligible hereunder); or (s) the Account fails to meet such other specifications and requirements which may from time to time be established

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Collection Account Control Agreement means that certain Collection Account Control Agreement, to be entered into by and among the Borrower, the Lender and Bank, with respect to the Collection Account, in form and substance acceptable to the Lender and the Borrower, as the same may be amended, modified or supplemented from time to time.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

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

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.