Canadian Concentration Account definition

Canadian Concentration Account has the meaning assigned to such term in Section 5.15(a).

Canadian Concentration Account shall have the meaning provided in Section 8.13(a).

Canadian Concentration Account has the meaning provided in SECTION 2.18(d).

Examples of Canadian Concentration Account in a sentence

• Not later than sixty (60) days following the Closing Date, such Canadian Loan Party shall deliver to the Collateral Agent a fully executed Account Control Agreement with respect to each of its Deposit Accounts (other than (i) Exempt Deposit Accounts and (ii) to the extent the aggregate amount held on deposit in any Deposit Account (other than any Collateral Account or Canadian Concentration Account) does not exceed $1,000,000 individually or $5,000,000 in the aggregate for all such Deposit Accounts).

• The Manager shall promptly deposit into a Lock-Box Account, a Canadian Concentration Account, a Canadian Collection Account, a Canadian Advertising Fund Account or such other appropriate account within three (3) Business Days immediately following Actual Knowledge of the Manager of the receipt thereof and in the form received with any necessary endorsement or in cash, all payments in respect of the Managed Assets incorrectly deposited into another account.

• The Domestic Borrowers and the Canadian Borrower shall at all times maintain at least one Domestic Concentration Account or Canadian Concentration Account, as applicable.

• If Company receives a payment or the Proceeds of Collateral directly, Company will promptly deposit the payment or Proceeds into the Collection Account or, if such payment is a Canadian Dollar payment, into the Canadian Concentration Account.

• All deposits held in the Collection Account or the Canadian Concentration Account shall constitute Proceeds of Collateral and shall not constitute the payment of Indebtedness.

More Definitions of Canadian Concentration Account

Canadian Concentration Account as defined in subsection 4.16(c).

Canadian Concentration Account means the Deposit Account of the Canadian Borrower designated as such on Schedule III.E to the Perfection Certificate into which the collected balances on deposit from time to time in the Collection Accounts are deposited in accordance with Section 2.04(b) of this Agreement.

Canadian Concentration Account means one or more accounts maintained in the name of the Canadian Co-Issuer and pledged to the Trustee into which the Canadian Manager causes amounts to be deposited pursuant to Section 5.10(a)(ii) of the Base Indenture or any successor accounts established for the Canadian Co-Issuer by the Canadian Manager for such purpose pursuant to the Base Indenture and the Canadian Management Agreement, designated individually or collectively, as the context may require.

Canadian Concentration Account means the blocked concentration account established by the Canadian Borrower pursuant to Section 5.7 and designated as the “Smurfit-Stone Canadian Concentration Account” with JPMorgan Chase Bank, N.A., Toronto Branch, or a bank acceptable to the Canadian Administrative Agent.

Canadian Concentration Account means the account maintained by the Administrative Agent at Bank of America (acting through its Canada branch) into which cash receipts and collections of the Canadian Loan Parties (including, without limitation, from the Collateral) are deposited to the extent required hereby or by any other Loan Document.

Canadian Concentration Account means the separate account established and maintained by the Canadian Credit Parties with the Canadian Concentration Account Bank for the benefit of the Secured Creditors and in which the Collateral Agent has a security interest pursuant to the Canadian Concentration Account Consent Letter and the Canadian Security Agreements.

Canadian Concentration Account shall have the meaning set forth in Section 4.6(2)(a).