Cash Concentration Account Sample Clauses

Cash Concentration Account. On or before the Closing Date, the Borrowers shall have established a Cash Concentration Account with KeyBank. All collections from sales of Inventory or from Account Debtors shall be deposited directly on a daily basis, and in any event no later than the first Business Day after the date of receipt thereof, into Borrowers’ Cash Concentration Account as set forth in Section 4.15(g). Such funds shall be in the identical form in which such collections were made (except for any necessary endorsements) whether by cash or check. The Cash Concentration Account shall not be subject to any deduction, set off, banker’s lien or any other right in favor of any Person other than the Agent and the Lenders.
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Cash Concentration Account. Maintain the Borrowers' principal cash concentration account with LaSalle or such other financial institution reasonably acceptable to the Agents.
Sample 1Sample 2
Cash Concentration Account. In accordance with the terms of the applicable Deposit Account Control Letter, each Lockbox Bank shall be instructed to deposit on a daily basis all collected and available funds from Collections deposited into a Collection Account to the Cash Concentration Account. Prior to the occurrence of a Cash Control Event and a Cash Control Election by the Administrative Agent, the Borrowers shall have the unlimited right to withdraw funds from the Cash Concentration Account and to direct the Administrative Agent to remit funds from the Cash Concentration Account to the Operating Account of the Borrowers or as otherwise directed by the Borrower Representative. After the occurrence of a Cash Control Event and notice to the Borrowers and the Lenders of a Cash Control Election, and until such Cash Control Election ceases to be effective in accordance with the terms of this Agreement, all Collections and Remittances shall be credited to the Loan Account of the Borrowers and applied to the outstanding Obligation in accordance with Section 4.1(d). After the occurrence of a Cash Control Event and notice to the Borrowers and the Lenders of a Cash Control Election, and until such Cash Control Election ceases to be effective in accordance with the terms of this Agreement, the Cash Concentration Account shall not be subject to any deduction, set off, banker's lien or any other right in favor of any Person. After the occurrence of a Cash Control Event and notice to the Borrowers and the Lenders of a Cash Control Election, and until such Cash Control Election ceases to be effective in accordance with the terms of this Agreement, (i) all funds deposited into the Cash Concentration Account shall be the exclusive property of Administrative Agent on behalf of the Lenders, (ii) shall be subject to the sole and exclusive control of Administrative Agent and only to such signing authority designated from time to time by Administrative Agent and (iii) the Borrowers shall have no further rights to withdraw funds form the Cash Concentration Account. Upon the occurrence of a Cash Control Event and a Cash Control Election, and until such Cash Control Election ceases to be effective in accordance with the terms of this Agreement, any Collections received directly by a Borrower shall be deemed held by such Borrower in trust and as fiduciary for the Lenders. The Borrowers agree not to commingle any such Collections with any of the Borrowers' other funds or property, but to hold such funds sepa...
Sample 1
Cash Concentration Account. At all time maintain its cash concentration account with the Agent.
Sample 1
Cash Concentration Account. The Borrower shall accurately report to the Administrative Agent all amounts deposited in the Blocked Accounts to ensure the proper transfer of funds as set forth above. If at any time other than the times set forth above any cash or cash equivalents owned by the Borrower or any Guarantor are deposited to any account, or held or invested in any manner, otherwise than in a Blocked Account that is subject to a Blocked Account Agreement, the Administrative Agent may require the Borrower to close such account and have all funds therein transferred to an account maintained by the Collateral Agent at BBNA and all future deposits made to a Blocked Account which is subject to a Blocked Account Agreement. Unless otherwise agreed by the Administrative Agent, the Borrower and the Guarantors may not maintain any bank accounts other than the ones expressly contemplated herein.
Sample 1
Cash Concentration Account. The Grantors shall maintain their cash concentration account as required by Section 10.29 of the Credit Agreement.
Sample 1
Cash Concentration Account. Promptly, and in any event not later than ninety (90) days after the Closing Date, the Borrower, at its own expense, shall cause the institution or institutions (which shall be reasonably acceptable to the Administrative Agent) (collectively, the "Lockbox Banks") with which the Borrower and its Subsidiaries maintain lockbox arrangements and accounts with respect to Receivables (collectively, the "Lockbox Accounts") to enter into arrangements reasonably acceptable to the Administrative Agent pursuant to which such Lockbox Banks shall transfer all funds from such Lockbox Accounts as are agreed to between the Borrower and the Administrative Agent on a basis reasonably acceptable to the Administrative Agent into a concentration account or accounts(collectively, the "Cash Concentration Account") in the sole control and dominion of the Administrative Agent, such Cash Concentration Account to be governed by the terms of agreements in form and substance satisfactory to the Administrative Agent. Prior to the occurrence of a Default or Event of Default, amounts deposited in the Cash Concentration Account shall be either made available to, or actually disbursed by the Administrative Agent to, the Borrower on a daily basis into an account or accounts designated by the Borrower or as otherwise directed by the Borrower. Following the Closing Date, neither the Borrower nor any of its Subsidiaries shall establish any deposit account relating to the accounts described in this Section 5.16 other than in accordance with this Section 5.16.
Sample 1
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Cash Concentration Account. All funds in the Cash Concentration Account shall be deemed to be the property of the Agent for the benefit of the Lenders and shall be subject only to the signing authority designated from time to time by the Agent. Other than as set forth in Section 2.14(c) of this Agreement, the Borrower shall have no interest therein or control over such funds. The Agent shall have sole access to the Cash Concentration Account and the Borrower shall have no access thereto. The Borrower hereby grants to the Agent a security interest in all funds held in the Cash Concentration Account as security for the Obligations. The Cash Concentration Account shall not be subject to any deduction, set-off, banker's lien or any other right in favor of any person or entity other than the Agent.
Sample 1
Cash Concentration Account. Commencing on the Completion of Construction Date, and at all times thereafter, Company shall cause each banking institution with which Company or any of its Subsidiaries maintains an account to deposit in a collateral account (the "Cash Concentration Account") established with the Administrative Agent in San Francisco, California all collections on the accounts of, and other funds and other payments received by, Company or any of its Subsidiaries in excess of the amount which in accordance with past practices of the Company and its Subsidiaries is reasonably necessary for use in the daily operation of its casino business. Company has, prior to the date hereof, given Administrative Agent and Lenders written notice specifying the name and location of each banking institution at which Company or any of its Subsidiaries maintains an account and Company shall, upon the establishment of any new account, give Administrative Agent prior written notification thereof. Company shall give each such banking institution irrevocable written instructions, in form and substance satisfactory to Administrative Agent in its sole discretion, to transmit, on the day of receipt, all monies and all amounts required to be placed in the Cash Concentration Account pursuant to this Section 6.13. At the end of each Business Day, funds in the Cash Concentration Account shall be applied first to the Swing Line Loan and, to the extent funds are available, then to the Revolving Loans. Company may subsequently reborrow Revolving Loans in accordance with the provisions of Section 4.
Sample 1

Related to Cash Concentration Account

  • Concentration Account Concentration Account" has the meaning set forth in Section 2.3.

  • Funding Account The Administrative Agent shall have received a notice setting forth the deposit account of the Borrower (the “Funding Account”) to which the Administrative Agent is authorized by the Borrower to transfer the proceeds of any Borrowings requested or authorized pursuant to this Agreement.

  • Collection Account (a) On the Closing Date, the Master Servicer shall open and shall thereafter maintain a segregated account held in trust (the “Collection Account”), entitled “Collection Account, Aurora Loan Services LLC, as Master Servicer, in trust for the benefit of the Holders of Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2005-5.” The Collection Account shall relate solely to the Certificates issued by the Trust Fund hereunder, and funds in such Collection Account shall not be commingled with any other monies.

  • Payments on Receivables, Collection Accounts The Servicer will at all times, instruct all Obligors to deliver payments on the Pool Receivables to a Collection Account or a Lock-Box. The Servicer will, at all times, maintain such books and records necessary to identify Collections received from time to time on Pool Receivables and to segregate such Collections from other property of the Servicer and the Originators. If any payments on the Pool Receivables or other Collections are received by the Borrower, the Servicer or an Originator, it shall hold such payments in trust for the benefit of the Administrative Agent, the Lenders and the other Secured Parties and promptly remit such funds into a Collection Account; provided, however, that (x) no less than 98.0% of such payments received shall be remitted to a Collection Account within one (1) Business Day after receipt and (y) no more than 2.0% of such payments received shall be remitted to a Collection Account within five (5) Business Days after receipt. The Servicer shall not permit funds other than Collections on Pool Receivables and other Collateral to be deposited into any Collection Account. If such funds are nevertheless deposited into any Collection Account, the Servicer will within two (2) Business Days identify and transfer such funds to the appropriate Person entitled to such funds. The Servicer will not, and will not permit the Borrower, any Originator or any other Person to commingle Collections or other funds to which the Administrative Agent, any Lender or any other Secured Party is entitled, with any other funds. The Servicer shall only add a Collection Account (or a related Lock-Box), or a Collection Account Bank to those listed on Schedule II to this Agreement, if the Administrative Agent has received notice of such addition and an executed and acknowledged copy of an Account Control Agreement (or an amendment thereto) from the applicable Collection Account Bank. The Servicer shall only terminate a Collection Account Bank or close a Collection Account (or a related Lock-Box) with the prior written consent of the Administrative Agent.

  • Distributions from Collection Account Subject to Section 8.2(e), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Collection Account and make deposits and payments, to the extent of Available Funds in the Collection Account for that Payment Date, in the following order of priority (pro rata within each priority level based on the amounts due except as otherwise stated):

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