Wire Account definition
Examples of Wire Account in a sentence
The Borrower has directed, and will at all times hereafter direct and otherwise cause, the Servicer to direct each of the Obligors to forward all payments on account of Receivables directly to the Lockbox System or, with respect to electronic payments or wires, the Wire Account.
The Servicer shall promptly (and in no event later than two (2) Business Days following receipt) transfer all Collections received in the Wire Account to the Lockbox Account, and until they are so deposited to hold such payments in trust for and as the property of the Collateral Agent.
The Wire Account shall be a demand deposit account established and maintained with ▇▇▇▇▇ Fargo Bank N.A., or at another institution designated by the Servicer and acceptable to the Administrative Agent, the Class A Agent and the Requisite Lenders in their sole discretion.