Collecting Bank a banking institution to which the Bank will send a Collection Order and thorough which the collection will be performed and/or designation of a Presenting Bank if the Presenting Bank is not designated.
Collecting Bank. The Borrower shall give notice of each removal of the Agent and each appointment of a Collecting Bank by mailing written notice of such event within 15 days thereof by certified mail, return receipt requested, postage prepaid, to Lakes. Each notice shall include the name of the Collecting Bank and the address of its principal corporate trust office.
Collecting Bank. Subject to subsection (a) above, the Agent may be removed at any time by an instrument in writing executed by the Borrower (so long as a Notice of Exclusive Control has not been issued by Lakes to the Agent) and Lakes delivered to the Agent.
Collecting Bank a banking institution to which the Bank will send a Collection Order and thorough which the collection will be performed and/or designation of a Presenting Bank if the Presenting Bank is not designated. Collection Order - a notice sent to the Remittee describing the instructions received from the Customer in return for the performance of which the Remittee will be transferred Commercial Documents. Commission Fee – payments established by the Bank to the Customer for the use of Collection within and under the Agreement, the amount and terms of payment of which shall be determined in accordance with the provisions of the Agreement. Goods - material property not removed from turnover in the manner prescribed by the Legislation. Specific Terms and Conditions – the terms and conditions set forth in Annex 1 to the Collection Agreement, including any additions and modifications thereto (if any). Force Majeure – acts of God, fire, hostilities, administrative and legal acts and/or other circumstances insurmountable for the Bank and beyond its control, which: a) are not connected with the Bank’s errors or negligence, b) started or developed after entering into force of the Agreement and c) affect directly on the full and/or proper fulfillment of obligations assumed under the respective agreement. Subsidiary – with respect to a Person, any other company at least 50% (fifty percent) of shares, stocks and/or votes of which are owned directly or indirectly or otherwise managed by this Person. Presenting Bank - a banking institution designated by the Bank or Collecting Bank that submits a Collection Order to the Remittee and/or ensures the Collection Payment and/or performance of other conditions against the Collection Document. Agreement – a) Collection Agreement; (b) Annex 1 (Specific Terms and Conditions) to the Collection Agreement; (c) Annex N2 (Additional Terms and Conditions) to the Collection Agreement, if any, (d) any additional attachment/application (if any) that will be concluded/submitted in the future by the Customer with respect to the Agreement, as amended and supplemented periodically and (e) Other associated agreement/other agreement associated with the Agreement. ICC Uniform Rules – the International Chamber of Commerce uniform rules established for collection - URC 522, 1995 edition or other edition defined by the Agreement/Collection Order as amended and supplemented. SWIFT - international interbank communication system (network) via which commercial...
Collecting Bank. Any bank handling a check for Forward Collection, except the Paying Bank.
Collecting Bank. The Borrower shall issue, and shall cause the Subsidiary Borrowers to issue, to the Collecting Banks irrevocable letters of instruction, in form and substance satisfactory to the Agent, directing the Collecting Banks, upon receipt of instructions ("Blockage Notices") to do so from the Agent, thenceforth to transfer all funds then and thereafter deposited in the Collecting Banks solely to the Agent, either to any account maintained by the Agent at the Collecting Bank or by wire transfer to appropriate account(s) of the Agent, and not to the Borrower or any Subsidiary. All funds deposited in such "blocked account" shall immediately become Collateral and the Borrower shall use its best efforts to obtain the agreement by the Collecting Bank to waive any offset rights against the funds so deposited. Agent assumes no responsibility for such "blocked account" arrangement, including without limitation, any claim of accord and satisfaction or release with respect to deposits accepted by the Collecting Bank thereunder. Alternatively, upon the issuance of a Blockage Notice, Agent may establish depository accounts in the name of Agent at a bank or banks for the deposit of such funds and Borrower shall deposit all proceeds of Receivables, dividends and other sums paid to Borrower by the Subsidiaries or cause same to be deposited, in kind, in such depository accounts of Agent in lieu of depositing same to the blocked accounts. Except as otherwise contemplated in Section 13.2 hereof, Agent will credit all such payments to Borrower's Loan Account, conditional upon final collection; credit will be given for cleared funds received prior to 1:00 p.m. Eastern Standard or Daylight Savings Time, by Agent at its account at the First National Bank of Chicago (or such other account of Agent as it shall designate in writing to Borrower), two (2) Business Days after such receipt thereof and until receipt by Agent at such address, no credit will be given. In all cases, Borrower's Loan Account will be credited only with the net amounts actually received by Agent. Should any check or item of payment not be honored for payment, then, Borrower shall be deemed not to have made such payment, and interest shall be recalculated accordingly. Any prepayment of any LIBOR Loan shall be accompanied by payment of any amounts required under Section 5.4 (b) hereof. Borrower agrees to pay to Agent any and all out-of-pocket fees, costs and expenses which Agent incurs in connection with opening and mai...
Collecting Bank. The Borrower shall not nor shall the Borrower suffer or permit any Domestic Subsidiary to terminate, alter or suffer or permit to be terminated or to lapse any such lock box agreement.
Collecting Bank. U.K. Borrower hereby agrees that, from and after the delivery of a Redirection Notice, all payments made to such U.K. Blocked Accounts or otherwise received by Agent, Collateral Agent or Funding Agent and whether on the Accounts of U.K. Borrower or as proceeds of other Collateral of U.K. Borrower or otherwise will be the sole and exclusive property of Collateral Agent, for the benefit of Agent and Lenders. U.
Collecting Bank shall acknowledge and agree, in a manner satisfactory to Agent, that from and after the date Collateral Agent (with the prior consent of Agent) delivers a notice (a "Redirection Notice") to such U.K. ------------------
