Collections Account. All Collections (including amounts transferred from the Rental Accounts) shall be, when received, deposited in the Collections Account, and all cash, Investment and other property in the Collections Account shall be transferred from the Collections Account in accordance with the terms of this Indenture.
Collections Account. (a) All payments on Accounts and other Collateral shall be forwarded by Borrower to the Collections Account; provided, however, upon the occurrence of an Event of Default and so long as an Event of Default is continuing, Bank, in its sole discretion, may require Borrower to establish a lockbox under the control of Bank to which all Account Debtors shall forward payments on the Accounts. Borrower shall pay all of Bank's standard fees and charges in connection with such lockbox arrangement (if any) and Collections Account as such fees and charges may change from time to time. In the event Bank requires a lockbox arrangement hereunder, Borrower shall notify Account Debtors on the Accounts to forward payments on the Accounts to the lockbox; provided, however, that Bank shall have the right to directly contact Account Debtors at any time following the occurrence of an Event of Default and so long as an Event of Default is continuing, to ensure that payments on the Accounts are directed to the lockbox. All payment items received by Borrower on Accounts and sale of Inventory and other Collateral shall be held by Borrower in trust for Bank and not commingled with Borrower's funds and shall be deposited promptly by Borrower to the Collections Account. All such items shall be the exclusive property of Bank upon the earlier of the receipt thereof by Bank or by Borrower. Borrower hereby grants to Bank a security interest in and lien upon all items and balances held in the lockbox and the Collections Account as collateral for the Indebtedness.
(b) Borrower hereby irrevocably appoints Bank (and any duly authorized Person designated by Bank) as Borrower's attorney-in-fact to endorse, following the occurrence of an Event of Default and so long as an Event of Default is continuing, Borrower's name on any checks, drafts, money orders or other media of payment which come into Bank's possession or control; this power being coupled with an interest is irrevocable so long as any of the Indebtedness remain outstanding. Such endorsement by Bank under power of attorney shall, for all purposes, be deemed to have been made by Borrower (prior to any subsequent endorsement by Bank) in negotiation of the item.
(c) For the purpose of calculating interest due under this Agreement, payment items shall be deemed applied by Bank on account of the Loan as collected by Bank, subject to chargebacks for uncollected payment items. No payment item received by Bank shall constitute payment to Bank...
Collections Account. (a) Pursuant to and in accordance with the terms of the Account Administration Agreement, the Account Collateral Agent is to, upon receipt thereof, deposit in the Customer Payment Account the Collections received by it. Pursuant to and subject to the terms of the Account Administration Agreement, on each Business Day all amounts constituting Collections on deposit in the Customer Payment Account are to be transferred by the Account Collateral Agent to the Collections Account.
(b) The Indenture Trustee shall, upon receipt thereof, deposit in the Collections Account all Collections and all other payments received by it in connection with the Portfolio.
(c) Additional funds may be deposited into the Collections Account from the Class A Liquidity Reserve Account in accordance with Section 3.04, the Class B Liquidity Reserve Account in accordance with Section 3.05, the Class B Special Reserve Account in accordance with Section 3.06, the Optional Reinvestment Account in accordance with Section 3.07 and the Mandatory Replacement Account in accordance with Section 3.11.
(d) All or any portion of any Net Disposition Proceeds from an Involuntary Railcar Disposition received in the Collections Account may be transferred to the Optional Reinvestment Account, to the extent that Issuer elects to reinvest all or a portion of such Net Disposition Proceeds in a Replacement Exchange in accordance with Section 3.11 hereof. All of the transfers of funds described in this Section 3.02 will be made prior to the distribution of the Available Collections Amount pursuant to Section 3.13.
Collections Account. (a) The Servicer shall maintain, in the Company's name, at a depository institution (which may be the Trustee), a lock box account (the "Collections Account"). The Collections Account shall be an Eligible Account. The Servicer shall give the Trustee and the Company at least five Business Days' written notice of any change in the location of the Collections Account and any related account identification information.
(b) The Servicer agrees to direct all Obligors to remit all collections and payments directly to, or otherwise cause all payments on the Contracts to be deposited in, the Collections Account. The Servicer agrees and covenants to provide payment books to all Obligors with remittance instructions directing all payments to be remitted directly to the Collections Account and that all cash, checks, notes, drafts and other items which it otherwise receives and which are attributable to the Contracts shall be promptly deposited into the Collections Account. The Servicer shall likewise deposit in the Collections Account within two Business Days of receipt all Liquidation Proceeds and Insurance Proceeds. The Servicer shall cause to be transferred to the Operating Account, at least weekly, all funds in the Collections Account that are attributable to the Contracts.
Collections Account. The Trustee will establish and maintain in New South Wales (or in such other place as the Manager selects from time to time), in accordance with this clause 22, an account in the name of the Trustee which must be an Eligible Deposit Account.
Collections Account. (a) Pursuant to and in accordance with the terms of the Account Administration Agreement, the Account Collateral Agent is to, upon receipt thereof, deposit in the Customer Payment Account the Collections received by it. Pursuant to and subject to the terms of the Account Administration Agreement, on each Business Day all amounts constituting Collections on deposit in the Customer Payment Account are to be transferred by the Account Collateral Agent to the Collections Account.
(b) The Indenture Trustee shall, upon receipt thereof, deposit in the Collections Account all Collections and all other payments received by it in connection with the Portfolio.
(c) Additional funds may be deposited into the Collections Account from the Liquidity Reserve Account in accordance with Section 3.04, the Optional Reinvestment Account in accordance with Section 3.05 and the Mandatory Replacement Account in accordance with Section 3.09.
(d) All or any portion of any Net Disposition Proceeds from an Involuntary Railcar Disposition received in the Collections Account may be transferred to the Optional Reinvestment Account, to the extent that the Issuer elects to reinvest all or a portion of such Net Disposition Proceeds in a Replacement Exchange in accordance with Section 3.09 hereof. All of the transfers of funds described in this Section 3.02 will be made prior to the distribution of the Available Collections Amount pursuant to Section 3.11.
(e) On each Closing Date, at the direction of the Issuer, a portion of cash proceeds from the issuance of the Equipment Notes of the applicable Series, together with the amount of any necessary capital contribution made by the Member to the Issuer, will be deposited in the Collections Account in order to assure sufficient funds are available for payments on the first Payment Date for such Series pursuant to Section 3.11(a).
Collections Account. All payments on Accounts and other Collateral shall be forwarded by Borrower to the Collections Account; provided, however, Bank, in its sole discretion, may require Borrower to establish a lockbox under the control of Bank to which all Account Debtors shall forward payments on the Accounts. Borrower shall pay all of Bank’s standard fees and charges in connection with such lockbox arrangement (if any) and Collections Account as such fees and charges may change from time to time. In the event Bank requires a lockbox arrangement hereunder, Borrower shall promptly after request from Bank notify Account Debtors on the Accounts to forward payments on the Accounts to the lockbox; provided, however, that following the occurrence and during the continuance of an Event of Default, Bank shall have the right to directly contact Account Debtors at any time to ensure that payments on the Accounts are directed to the lockbox. All payment items received by Borrower on Accounts and sale of Inventory and other Collateral shall be held by Borrower in trust for Bank and not commingled with Borrower’s funds and shall be deposited promptly by Borrower to the Collections Account. All such items shall be the exclusive property of Bank upon the earlier of the receipt thereof by Bank or by Borrower. Borrower hereby grants to Bank a security interest in and lien upon all items and balances held in any lockbox, the Disbursements Account and the Collections Account as Collateral for the Obligations, in addition to and cumulative with the general security interest in all assets of Borrower (including all Deposit Accounts) contained in Section 9.1 hereof.
Collections Account. Pursuant to and in accordance with the terms of the Account Administration Agreement, the Account Collateral Agent is to, upon receipt thereof, deposit in the Customer Payment Account the Collections received by it. Pursuant to and subject to the terms of the Account Administration Agreement, on each Business Day all amounts constituting Collections on deposit in the Customer Payment Account are to be transferred by the Account Collateral Agent to the Collections Account.
Collections Account. (a) Pursuant to and in accordance with the terms of the Account Administration Agreement, the Account Collateral Agent is to, upon receipt thereof, deposit in the Customer Payment Account the Collections received by it. Pursuant to and subject to the terms of the Account Administration Agreement, on each Business Day all amounts constituting Collections on deposit in the Customer Payment Account are to be transferred by the Account Collateral Agent to the Collections Account.
(b) The Indenture Trustee shall, upon receipt thereof, deposit in the Collections Account all Collections and all other payments received by it (and that are identified as such when received) in connection with the Portfolio.
(c) Additional funds may be deposited into the Collections Account from the Liquidity Reserve Account in accordance with Section 3.04, the Optional Reinvestment Account in accordance with Section 3.05 or by the Member through Capital Contributions in accordance with Section 3.17.
(d) All or any portion of any Net Disposition Proceeds from a Permitted Railcar Disposition received in the Collections Account may be transferred to the Optional Reinvestment Account pursuant to Section 3.05.
(e) On each Closing Date, at the direction of the Issuer, a portion of cash proceeds from the issuance of the Securities of the applicable Series, together with the amount of any necessary Capital Contribution made by the Member to the Issuer, will be deposited in the Collections Account in order to assure sufficient funds are available for payments on the first Payment Date for such Series pursuant to Section 3.11(a).
(f) All of the transfers of funds described in this Section 3.02 will be made prior to the distribution of the Available Collections Amount pursuant to Section 3.11.
Collections Account. Direct each Account Debtor (and each depository institution where proceeds of Accounts are on deposit) to remit payments with respect to the Accounts payable in Dollars to a lockbox account or similar “blocked account” (as may be specified by Bank) established with Bank (collectively, the “Collections Account”), the funds in which Collections Account shall be transferred to the Designated Deposit Account within one (1) Business Day provided that no Event of Default has occurred and is continuing. Borrower shall maintain the Collections Account as of the Effective Date and at all times thereafter. Upon receipt by Borrower of any proceeds of Accounts payable in Dollars, Borrower shall immediately transfer and deliver same to the Collections Account, along with a detailed monthly cash receipts journal for such transactions. Borrower shall have access to the funds in the Collections Account at all times prior to the occurrence and during the continuance of an Event of Default.
