Payment Account definition

Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee for the benefit of the Holders in which all amounts paid in respect of the Notes will be held and from which the Property Trustee, through the Paying Agent, shall make payments to the Holders in accordance with Sections 3.1, 4.1 and 4.

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Payment Account. The account maintained pursuant to Section 4.03(b).

Payment Account means the account specified on the signature pages hereof into which all payments by or on behalf of each Borrower to Agent under the Financing Documents shall be made, or such other account as Agent shall from time to time specify by notice to Borrower Representative.

Examples of Payment Account in a sentence

Notwithstanding anything to the contrary set forth herein (including, but not limited to, Sections 5.08, 6.01 or 6.05) or in any other Transaction Document, any amount released to Loyalty Co from the Payment Account in accordance with Section 2.10(b)(xi) of this Agreement or the Collection Account in accordance with Section 2.11 of the Collateral Agency and Accounts Agreement may be transferred by Loyalty Co to American in any manner without restriction.
In such circumstances, the Collateral Administrator shall promptly direct the Collateral Custodian to wire such amounts from the Reserve Account to the Payment Account.
The Administrative Agent shall have received a fully executed copy of the Account Control Agreement with respect to the Payment Account and the Reserve Account.
The Payment Account shall be subject at all times to an Account Control Agreement.

More Definitions of Payment Account

Payment Account means an account held in the name of one or more payment service users which is used for the execution of payment transactions;

Payment Account shall have the meaning set forth in Section 6.3 hereof.

Payment Account means each bank account established pursuant to the Security Agreement, to which the proceeds of Accounts and other Collateral are deposited or credited, and which is maintained in the name of the Agent or the Borrower, as the Agent may determine, on terms acceptable to the Agent.

Payment Account has the meaning set forth in Section 2.01(g) herein.

Payment Account. The payment account of the Trustee established pursuant to Section 10.3(a).

Payment Account has the meaning assigned to such term in Section 8.03.

Payment Account means the account described as such in the name of the Issuer held with the Account Bank to which amounts shall be transferred by the Account Bank on the instructions of the Collateral Administrator on the second Business Day prior to each Payment Date out of certain of the other Accounts in accordance with Condition 3(i) (Accounts) and out of which the amounts required to be paid on each Payment Date pursuant to the Priorities of Payment shall be paid.