Common use of Collection of Accounts; Payments Clause in Contracts

Collection of Accounts; Payments. Subject to the post-closing timing requirement specified in Section 6.10 of this Agreement, establish a payment account for each Borrower, or designate an existing deposit account for each Borrower in form and substance reasonably satisfactory to the Administrative Agent (in either case, collectively, the “Primary Payment Accounts”), which shall each be a Controlled Account and into which all Account collections (other than (i) prior to the effectiveness of the Incremental Revolving Facility, with respect to Muscle Shoals, collections from the AB Receivables, and (ii) Qualified Receivables to the extent subject to a Qualified Receivables Financing) and other proceeds of ABL Priority Collateral with respect to the applicable Borrower will be deposited (it being understood that the Loan Parties shall promptly transfer to the applicable Primary Payment Account any such collections or proceeds on deposit in or credited to any other payment account or other account, or received directly by any Loan Party), and the Loan Parties hereby agree that, during an Accounts Availability Triggering Event, the Collateral Agent will have exclusive control over each Primary Payment Account; provided, however, that, in the absence of an Accounts Availability Triggering Event, the Loan Parties will have exclusive right to make withdrawals from the Primary Payment Accounts.

Collection of Accounts; Payments. Subject to the post-closing timing requirement specified in Section 6.10 of this Agreement, establish a payment account for each Borrower, or designate an existing deposit account for each Borrower in form and substance reasonably satisfactory to the Administrative Agent (in either case, collectively, the “Primary Payment Accounts”), which shall each be a Controlled Account and into which all Account collections (other than (i) prior to the effectiveness of the Incremental Revolving Facility, with respect to Muscle Shoals, collections from the AB Receivables, and (ii) Qualified Receivables to the extent subject to a Qualified Receivables Financing) and other proceeds of ABL Priority Collateral with respect to the applicable Borrower will be deposited (it being understood that the Loan Parties shall promptly transfer to the applicable Primary Payment Account any such collections or proceeds on deposit in or credited to any other payment account or other account, or received directly by any Loan Party), and the Loan Parties hereby agree that, during an Accounts Availability Triggering Event, the Collateral Agent will have exclusive control over each Primary Payment Account; provided, however, that, in the absence of an Accounts Availability Triggering Event, the Loan Parties will have exclusive right to make withdrawals from the Primary Payment Accounts.. Section 6.13