Collections Accounts definition

Collections Accounts means any Deposit Account of a Loan Party used to receive proceeds of Accounts from Customers, in each case other than an Excluded Account.
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Collections Accounts means (i) one or more deposit accounts established after the Closing Date and maintained by the Loan Parties at SunTrust Bank and designated as a Collections Account by Borrower Agent and Administrative Agent and (ii) such other deposit account as may be further designated by the Borrower Agent as a Collections Account and approved by the Administrative Agent in writing.
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Collections Accounts means, the Seller Collections Account and the Issuer Collections Account;
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Examples of Collections Accounts in a sentence

  • Obligor payments in respect of the Participating Assets are paid directly into the Collections Accounts.

  • In terms of the Collections SPV Administration Agreement, the Collections SPV Administrator is obliged to transfer payments allocated to Participating Assets which are paid into the Collections Accounts to the Transaction Account not later than 16h30 on each Business Day, following the Business Day on which such amounts are received in the Collections Accounts.

  • See the section entitled "Credit Structure, Liquidity and Hedging" for further information.Bank Accounts and Cash Management:All Collections in respect of the Purchased Receivables in the Portfolio are received by the Servicer in its Collections Accounts.

  • The Master Servicer at all times shall maintain accurate records reflecting each transaction in the Collections Account and the Group Collections Accounts.

  • Pursuant to authority granted to it pursuant to Section 3.01(b), the Master Servicer shall have the revocable power to instruct the Trustee to withdraw funds from the Collections Account and the Group Collections Accounts for the purpose of carrying out the duties of the Master Servicer hereunder.

  • In addition, the Seller has declared a trust over all amounts standing to the credit of the Collections Accounts in favour of the Issuer and itself in accordance with the terms of the Servicing Agreement and the Collections Account Declaration of Trust (as to which see further the section entitled "Overview of theTransaction Documents – Servicing Agreement").

  • May perform 1221 duties, Bill of Collections, Accounts Receivable/Payables reconciliations.

  • The fund collects amounts from the Undistributed Tax Collections Accounts and disburses them to taxpayers as refunds on overpaid taxes.

  • Collections: Accounts that are not paid within sixty (60) days from the date of service may be sent to our collections department.

  • Delinquent taxes owed to the IRS are disbursed from the Undistributed Tax Collections Accounts to this account and subsequently disbursed to the IRS.


More Definitions of Collections Accounts

Collections Accounts means the Series 2 Bank Accounts into which Series 2 Participating Asset Payments received in respect of the Series 2 Participating Assets are deposited to the extent to which such Series 2 Participating Asset Payments are not deposited directly into the Transaction Bank Account;
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Collections Accounts have the meanings set forth in SECTION 2.6.
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Collections Accounts means those certain accounts numbered #7460952679 and #7460952828 maintained at Bank or such other accounts as Bank may designate as a Collections Account.”
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Collections Accounts means that certain accounts numbered #7460952679 and #7460952828 maintained at Bank or such other account as Bank may designate as the Collections Account (which accounts may be subject springing deposit account control agreements at the Bank’s option). “Consolidated Entity” means at any date any Subsidiary, and any other entity the accounts of which would be combined or consolidated with those of the Borrower in its combined or consolidated financial statements if such statements were prepared as of such date. “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. ‘Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. “Default Rate” means a rate of interest which is 200 basis points higher than the rate of interest otherwise provided under this Agreement.
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Collections Accounts have the meanings set forth in Section 2.6.
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Related to Collections Accounts

  • Collection Accounts As defined in Section 3.10(a).

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Project Accounts means the accounts referred to in Section 3.03 (a) of this Agreement;

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Investment Accounts means the Collateral Account, Securities Accounts, Commodities Accounts and Deposit Accounts.

  • Interim Accounts means the unaudited consolidated quarterly financial statements of the Issuer for the quarterly period ending on each 31 March, 30 June, 30 September and 31 December in each year, prepared in accordance with GAAP.

  • Collection Account Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.