Principal Collection Account definition

Principal Collection Account. A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal 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.
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Principal Collection Account means a segregated, non-interest bearing securities account (within the meaning of Section 8-501 of the UCC) number 172148-202, which is created and maintained on the books and records of the Securities Intermediary entitled “Principal 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, which is established and maintained pursuant to Section 8.1(a).
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Principal Collection Account has the meaning assigned to such term in Section 8.02(a).
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Examples of Principal Collection Account in a sentence

  • The proceeds of all Loans made hereunder (unless expressly permitted to be otherwise applied in accordance with the terms and conditions of this Agreement) and all Principal Proceeds shall be deposited into the Principal Collection Account.

  • The Borrower shall, prior to the ClosingSecond Amendment Effective Date, establish at the Accounts Securities Intermediary a segregated trust account in the name “KLCC SPV GS1 LLC, subject to the lien of State StreetU.S. Bank, as Collateral Agent on behalf of the Secured Parties”, which shall be designated as the Principal Collection Account, which shall be held by the Accounts Securities Intermediary in accordance with the Account Control Agreement.

  • On the Business Day prior to the Maturity Date, the Collateral Agent shall remit the balance on deposit in the Margin Account to the Principal Collection Account for application as Principal Proceeds.

  • All such funds, together with any Eligible Investments made with such funds, shall be held by the Accounts Securities Intermediary in the Principal Collection Account as part of the Collateral subject to disbursement and withdrawal solely as provided in this Section 6.2(b) and Section 6.3(a) below.

  • On the Business Day following the payment of the Reserved Expenses in full (which shall be on or around the Closing Date), the Collateral Agent shall remit the balance on deposit in the Expense Reserve Account to the Principal Collection Account for application as Principal Proceeds and the Expense Reserve Account shall be terminated.


More Definitions of Principal Collection Account

Principal Collection Account means a sub-account of the Collection Account established pursuant to Section 7.01.
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Principal Collection Account means the account designated as such, established and maintained pursuant to Section 5.01(a)(i) hereof.
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Principal Collection Account means the account(s) established by the Securities Intermediary and set forth on the Transaction Schedule for the deposit of Principal Proceeds denominated in USD, and any successor accounts established in connection with the resignation or removal of the Securities Intermediary.
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Principal Collection Account. The account or accounts so designated and established pursuant to Section 10.3(a).
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Principal Collection Account. The trust account established pursuant to Section 10.2(a) hereof.
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Principal Collection Account means the trust account established pursuant to Section 8.02(a)(ii).
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Principal Collection Account has the meaning specified in Section 3(a).
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