Common use of CREDIT FOR FUNDS RECEIVED IN CONCENTRATION ACCOUNT Clause in Contracts

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, other than a Specified Default during the Limited Forbearance Period, (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.8.24 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.2.12.4, (b) all funds and cash proceeds in the form of a wire transfer received in the Fleet Concentration Account as contemplated by ss.8.24 shall be credited on the same Business Day as the Agent's receipt of such amounts (or up to such later date as the Agent determines that good collected funds have been received), and applied as contemplated by ss.2.12.4, 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.8.24 shall be credited, on the next Business Day following the Agent's receipt of such amounts (or up to such later date as the Agent determines that good collected funds have been received), and applied as contemplated by ss.

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, other than a Specified Default during the Limited Forbearance Period, (a) all All funds and cash proceeds in the form of money, checks and like items received in the Fleet Concentration Account as contemplated by ss.8.24 Section 6.21 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 ss.2.12.4Section 2B.1.2 or 2B.1.3 hereof, as the case may be, (b) all funds and cash proceeds in the form of a wire transfer received in the Fleet Concentration Account as contemplated by ss.8.24 Section 6.21 hereof shall be credited on the same Business Day as the Agent's receipt of such amounts (or up to on such later date as the Agent determines that good collected funds have been received), and transferred as contemplated by Section 2B.1.2 hereof or, as the case may be, applied as contemplated by ss.2.12.4Section 2B.1.3 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 ss.8.24 Section 6.21 hereof shall be credited, on the next Business Day following the Agent's receipt of such amounts (or up to on such later date as the Agent determines that good collected funds have been received), and transferred as contemplated by Section 2B.1.2 hereof or, as the case may be, applied as contemplated by ss.Section 2B.1.3

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 ’s account have actual knowledge, other than a Specified Default during the Limited Forbearance Period, (a) all funds and cash proceeds in the form of money, checks and like items received in the Fleet Concentration Account (as defined in and as contemplated by ss.8.24 §7.17.1) shall be creditedcredited 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, and applied as contemplated by ss.2.12.4, (b) all funds and cash proceeds in the form of a wire transfer received in the Fleet Concentration Account as contemplated by ss.8.24 §7.17 shall be credited to the Borrower on the same Business Day as the Agent's Cash Management Bank’s receipt of such amounts (or up to such later date as the Agent determines that in good collected funds have been received)funds, and applied as contemplated by ss.2.12.4, 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.8.24 §7.17 shall be creditedcredited to the Borrower, on the next Business Day following the Agent's Cash Management Bank’s receipt of such amounts (or up to such later date as the Agent determines that 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 have been received)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 applied as contemplated by sspractices 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 Administrative Agent active upon the Borrower's account have actual knowledge, other than a Specified Default during the Limited Forbearance Period, (a) all All funds and cash proceeds in the form of money, checks and like items received in the Fleet Concentration Account as contemplated by ss.8.24 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 ss.2.12.4Section 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 ss.8.24 Section 6.23 hereof shall be credited on the same Business Day as the Agent's receipt of such amounts (or up to on such later date as the Agent determines that good collected funds have been received), and applied transferred as contemplated by ss.2.12.4Section 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 ss.8.24 Section 6.23 hereof shall be credited, on the next Business Day following the Agent's receipt of such amounts (or up to on such later date as the Agent determines that good collected funds have been received), and applied transferred as contemplated by ssSection 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. 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, other than a Specified Default during the Limited Forbearance Period, (a) all All funds and cash proceeds in the form of money, checks and like items received in the Fleet Concentration Account as contemplated by ss.8.24 Section 6.21 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 ss.2.12.4Section 2B.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 ss.8.24 Section 6.21 hereof shall be credited on the same Business Day as the Agent's receipt of such amounts (or up to on such later date as the Agent determines that good collected funds have been received), and applied transferred as contemplated by ss.2.12.4Section 2B.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 ss.8.24 Section 6.21 hereof shall be credited, on the next Business Day following the Agent's receipt of such amounts (or up to on such later date as the Agent determines that good collected funds have been received), and applied transferred as contemplated by ss.Section 2B.1.2