Administrative Agent Account Clause Samples
The Administrative Agent Account clause establishes a designated bank account managed by the administrative agent for the purposes of receiving, holding, and distributing funds related to a financial transaction or loan agreement. Typically, all payments from borrowers, such as principal, interest, and fees, are directed into this account, and the agent is responsible for allocating these funds to the appropriate parties, such as lenders or other stakeholders. This clause ensures a centralized and transparent process for handling payments, reducing the risk of misallocation and streamlining the administration of complex financial arrangements.
Administrative Agent Account. No later than 12:00 p.m., New York time on the date of the requested Borrowing, if the applicable conditions precedent listed in Sections 3.1 and 3.2 have been satisfied or waived, each Lender shall make available the Loans requested in the Borrowing Notice in Dollars and in immediately available funds to the Administrative Agent at its account in the United States identified in Annex 1.
Administrative Agent Account. The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Type thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof.
Administrative Agent Account. (a) At the request of the Administrative Agent, upon the earliest to occur of (i) 30 days after the commencement of a Ratings ▇▇▇▇▇ ▇ ▇▇▇▇▇▇, (▇▇) two Business Days after the commencement of a Ratings ▇▇▇▇▇ ▇ ▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇ ▇▇▇▇▇▇, (▇▇▇) the Termination Date or (iv) the occurrence and continuance of any Termination Event or any Involuntary Bankruptcy Event, the Servicer shall (and if the Servicer fails to do so, the Administrative Agent may) cause to be established with Citibank (or another bank satisfactory to each Managing Agent) in the name of the Administrative Agent, a segregated account (the "Administrative Agent Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Purchasers. Upon the establishment of such account, such account shall constitute the "Collection Account" for all purposes hereunder. The Servicer shall deliver, or cause to be delivered to the Administrative Agent, as soon as practicable and in any event no later than two Business Days after such Administrative Agent Account is required to be established as provided above, a Control Agreement with respect to such account in substantially the form attached as Annex B-2 or in such other form as the Administrative Agent may approve, duly executed by the Seller, the Servicer and the bank at which such account is maintained.
(b) Each of the Seller and the Servicer agrees that the Administrative Agent shall have exclusive dominion and control over the Administrative Agent Account and all monies, instruments and other property from time to time deposited in or credited to the Administrative Agent Account; provided, however, that, until notified to the contrary by the Administrative Agent, the Servicer shall have the right to withdraw funds from the Administrative Agent Account for application in accordance with Sections 2.04 or 2.05, as applicable. The Servicer shall cause the Administrative Agent Account to be subject at all times to a Control Agreement, duly executed by the Seller, the Servicer, the Administrative Agent and the bank at which the Administrative Agent Account is maintained.
(c) The Servicer may invest funds on deposit in the Administrative Agent Account, reinvest proceeds of any such investments which may mature or be sold, and invest interest or other income received from any such investments, in each case in such Permitted Investments as the Servicer may select; provided, however, that each such Permit...
Administrative Agent Account. Deposit account as the Administrative Agent may from time to time specify in writing to the Borrower and the Lenders.
Administrative Agent Account. No later than 2:00 p.m., New York time on the date of the requested Borrowing, if the applicable conditions Kronor Loan Agreement [***] Confidential treatment has been requested for the bracketed portions. The confidential redacted portion has been omitted and filed separately with the Securities and Exchange Commission. precedent listed in Sections 3.1 and 3.2 have been satisfied or waived, each Lender shall make available the Loans requested in the Borrowing Notice or Conversion and Continuation Notice, as applicable, in Dollars and in immediately available funds to the Administrative Agent at its account in the United States identified in Annex 1.
Administrative Agent Account. Bank: AloStar Bank of Commerce Address: Birmingham, AL ABA #: ▇▇▇-▇▇▇-▇▇▇ Account No.: 7000005772 Account Name: ABL Settlement Reference: Aventine