Interest Collection Account means the collective reference to the segregated, non-interest bearing securities accounts (within the meaning of Section 8-501 of the UCC) created and maintained on the books and records of the Securities Intermediary identified as interest collection accounts and, in each case, (x) is in the name of the Borrower or the applicable Permitted Subsidiary, subject to the Lien of the Collateral Agent for the benefit of the Secured Parties, (y) includes any and all sub-accounts and (z) is established and maintained pursuant to Section 8.1(a).

Interest Collection Account has the meaning assigned to such term in Section 8.02(a).

Examples of Interest Collection Account in a sentence

Except to the extent expressly provided otherwise herein, including Section 10.3(i), all interest and other income from such investments shall be deposited in the Interest Collection Account, any gain realized from such investments shall be credited to the Principal Collection Account upon receipt, and any loss resulting from such investments shall be charged to the Principal Collection Account.
The Issuer shall require all proceeds of each Interest Rate Cap (including amounts received in respect of the obligations of the related Interest Rate Cap Provider from a guarantor or from the application of collateral posted by such Interest Rate Cap Provider) to be paid to the Issuer Interest Collection Account.
Any income earned on amounts deposited in the Contribution Account will be deposited in the Interest Collection Account as Interest Proceeds.
No amounts shall be transferred to or withdrawn from the Payment Account at any other time or in any other circumstances, save that all interest accrued on the Payment Account (and not disbursed in accordance with the foregoing sentence) shall be credited to the Interest Collection Account.
The Trustee shall deposit, or cause the deposit of, the proceeds of any such draw on the Series 2013-A Letters of Credit and the proceeds of any such withdrawal from the Series 2013-A L/C Cash Collateral Account into the Series 2013-A Interest Collection Account on such Payment Date.

More Definitions of Interest Collection Account

Interest Collection Account. The trust account established pursuant to Section 10.2(a) hereof.

Interest Collection Account means a sub-account of the Principal and Interest Account established and maintained pursuant to Section 7.03(a).

Interest Collection Account means a sub-account (account number 163757-201 at the Account Bank) of the Collection Account into which Interest Collections shall be segregated.

Interest Collection Account means a segregated, non-interest bearing securities account (within the meaning of Section 8-501 of the UCC) number 172148-201, which is created and maintained on the books and records of the Securities Intermediary entitled “Interest 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).

Interest Collection Account means the account(s) established by the Securities Intermediary and set forth on the Transaction Schedule for the deposit of Interest Proceeds and any successor accounts established in connection with the resignation or removal of the Securities Intermediary.

Interest Collection Account means a sub-account (account number 787456-201 at the Bank) of the Collection Account into which Interest Collections shall be segregated.

Interest Collection Account means the account established pursuant to Section 10.1(b) and described in Section 10.2(a)