CREDIT FOR FUNDS RECEIVED IN CONCENTRATION ACCOUNT. (a) All funds and cash proceeds in the form of money, checks and like items received in the Fleet Concentration Account as contemplated by Section 6.23 hereof shall be credited, on the same Business Day on which the Agent determines that good collected funds have been received, and, prior to the receipt of good collected funds, on a provisional basis until final receipt of good collected funds, and applied as contemplated by Section 2C.1.2 hereof, (b) all funds and cash proceeds in the form of a wire transfer received in the Fleet Concentration Account as contemplated by Section 6.23 hereof shall be credited on the same Business Day as the Agent's receipt of such amounts (or on such later date as the Agent determines that good collected funds have been received), and transferred as contemplated by Section 2C.1.2 hereof, and (c) all funds and cash proceeds in the form of an automated clearing house transfer received in the Fleet Concentration Account as contemplated by Section 6.23 hereof shall be credited, on the next Business Day following the Agent's receipt of such amounts (or on such later date as the Agent determines that good collected funds have been received), and transferred as contemplated by Section 2C.1.2 hereof. For purposes of the foregoing provisions of this Section 2C.1.1, the Agent shall not be deemed to have received any such funds or cash proceeds on any day unless received by the Agent before 2:30 p.m. (Boston time) on such day. Each of the Borrowers further acknowledges and agrees that any such provisional credits or credits in respect of wire or automatic clearing house funds transfers shall be subject to reversal if final collection in good funds of the related item is not received by, or final settlement of the funds transfer is not made in favor of, the Agent in accordance with the Agent's customary procedures and practices for collecting provisional items or receiving settlement of funds transfers.
CREDIT FOR FUNDS RECEIVED IN CONCENTRATION ACCOUNT. (a) All funds and cash proceeds in the form of money, checks and like items received in the Fleet Concentration Account as contemplated by ss.8.14 shall be credited, on the next Business Day on which the Administrative Agent determines that good collected funds have been received, and, prior to the receipt of good collected funds, on a provisional basis until final receipt of good collected funds, and applied as contemplated by ss.2.13.2, or as applicable, ss.13.4, (b) all funds and cash proceeds in the form of a wire transfer received in the Fleet Concentration Account as contemplated by ss.8.14 shall be credited on the next Business Day as the Administrative Agent's receipt of such amounts (or up to such later date as the Administrative Agent determines that good collected funds have been received), and applied as contemplated by ss.2.13.2, or as applicable, ss.13.4, and (c) all funds and cash proceeds in the form of an automated clearing house transfer received in the Fleet Concentration Account as contemplated by ss.8.14
CREDIT FOR FUNDS RECEIVED IN CONCENTRATION ACCOUNT. Prior to the occurrence of an Event of Default as to which the account officers of the Administrative Agent active upon the Borrower’s account have actual knowledge, (a) all funds and cash proceeds in the form of money, checks and like items received in the Concentration Account (as defined in and as contemplated by §7.17.1) shall be credited to the Borrower, on the same Business Day on which the Administrative Agent determines that good collected funds have been received, and, prior to the receipt of good collected funds, on a provisional basis until final receipt of good collected funds, (b) all funds and cash proceeds in the form of a wire transfer received in the Concentration Account as contemplated by §7.17 shall be credited to the Borrower on the same Business Day as the Cash Management Bank’s receipt of such amounts in good collected funds, (c) all funds and cash proceeds in the form of an automated clearing house transfer received in the Concentration Account as contemplated by §7.17 shall be credited to the Borrower, on the next Business Day following the Cash Management Bank’s receipt of such amounts in good collected funds. For purposes of the foregoing provisions of this §2.11.1, the Cash Management Bank shall not be deemed to have received any such funds or cash proceeds on any day unless received by the Cash Management Bank before 2:30 p.m. (Boston time) on such day. The Borrower further acknowledges and agrees that any such provisional credits or credits in respect of wire or automatic clearing house funds transfers shall be subject to reversal if final collection in good funds of the related item is not received by, or final settlement of the funds transfer is not made in favor of, the Cash Management Bank in accordance with Cash Management Bank’s customary procedures and practices for collecting provisional items or receiving settlement of funds transfers.
CREDIT FOR FUNDS RECEIVED IN CONCENTRATION ACCOUNT. Prior to --------------------------------------------------- the occurrence of an Event of Default as to which the account officers of the Agent active upon the Borrower's account have actual knowledge, (i) all funds and cash proceeds in the form of money, checks and like items received in the BKB Concentration Account as contemplated by ss.8.14 shall be credited, on the same Business Day on which the Agent determines that good collected funds have been received, and, prior to the receipt of good collected funds, on a provisional basis until final receipt of good collected funds, and applied as contemplated by ss.2.10.2, (ii) all funds and cash proceeds in the form of a wire transfer received in the BKB Concentration Account as contemplated by ss.8.14 shall be
CREDIT FOR FUNDS RECEIVED IN CONCENTRATION ACCOUNT. (a) All funds and cash proceeds in the form of money, checks and like items received in the Fleet Concentration Account as contemplated by ss.8.14 shall be credited, on the next Business Day on which the Administrative Agent determines that good collected funds have been received, and, prior to the receipt of good collected funds, on a provisional basis until final receipt of good collected funds, and applied as contemplated by ss.2.14.2, or as applicable, ss.13.4, (b) all funds and cash proceeds in the form of a wire transfer received in the Fleet Concentration Account as contemplated by ss.8.14 shall be credited on the next Business Day as the Administrative Agent's receipt of such amounts (or
CREDIT FOR FUNDS RECEIVED IN CONCENTRATION ACCOUNT. (a) Prior to the Cash Sweep Date and to the occurrence of the Termination Declaration Date, all funds and cash proceeds received in the Concentration Account and not required to make mandatory prepayments pursuant to ss.3.2, may, when immediately available and at the election of the Borrowers, be credited to the Borrowers' operating account at the Concentration Account Bank to cover checks and other charges which the Borrowers have drawn or made against such account. Any funds and cash proceeds not so credited to the Borrowers' operating account may, at the election of the Borrowers, or shall, in the case of mandatory prepayments pursuant to ss.3.2 and otherwise at the request of the Co-Agent, be applied as contemplated by ss.ss.2.10.1(b) and 2.10.2 as if the Cash Sweep Date had occurred.
