Designated Accounts. The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.
Designated Accounts. The Collection Account, the Note Distribution Account, the Reserve Account and the Class N Reserve Account, collectively.
Designated Accounts. The Accumulation Account, the Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The fifteenth day of each calendar month, or if such fifteenth day is not a Business Day, the next succeeding Business Day.
Designated Accounts. (a) The Securities Intermediary represents and warrants to each of the Secured Party and the Issuing Entity that the Securities Intermediary does not know of any claim to or interest in the Designated Accounts, except the first priority security interest of the Secured Party in the Designated Accounts for the benefit of the Noteholders and the other claims and interests of the parties referred to in this Agreement. The Securities Intermediary does not have and shall not have in the future, any security interest, lien or right of setoff on or against the Designated Accounts.
(b) The Securities Intermediary, the Issuing Entity and the Secured Party agree that the Securities Intermediary is the securities intermediary and the Issuing Entity is the entitlement holder as to each Account subject to the first priority security interest of the Secured Party.
(c) The Securities Intermediary, the Issuing Entity and the Secured Party agree that all property credited to the Designated Accounts shall be treated as “financial assets” under Article 8 of the UCC.
(d) The Securities Intermediary shall not accept any “entitlement order,” within the meaning of Section 8-102(a)(8) of the UCC, or other instruction regarding the Designated Accounts except from the Secured Party and, subject to Section 3.1(b), the Issuing Entity.
(e) The Securities Intermediary, the Issuing Entity and the Secured Party agree that, with respect to the Designated Accounts, the jurisdiction of the Securities Intermediary for purposes of Articles 8 and 9 of the UCC shall be the State of New York.
(f) The Securities Intermediary shall at all times be a “participant” (as such term is defined in the Federal Book-Entry Regulations) in the Federal Reserve System.
Designated Accounts. Agent is authorized to make the Revolving Loans, and Issuing Bank is authorized to issue the Letters of Credit, under this Agreement based upon electronic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d)(ii). The Borrowers agree to establish and maintain the Designated Account with the Designated Account Bank for the purpose of receiving the proceeds of the Revolving Loans requested by the Borrowers and made by Agent or the Revolving Lenders hereunder. Unless otherwise agreed by Agent and the Borrowers, any Revolving Loan or Swing Loan requested by the Borrowers and made by Agent or the Revolving Lenders hereunder shall be made to the Designated Account.
Designated Accounts. US Agent is authorized to make the US Advances and US Issuing Lender is authorized to issue the US Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d). US Borrower agrees to establish and maintain the US Designated Account for the purpose of receiving the proceeds of the US Advances requested by such US Borrower and made by US Agent or the Lenders hereunder. Unless otherwise agreed by US Agent and US Borrower, any US Advance or US Swing Loan requested by US Borrower and made by US Agent or the Lenders hereunder shall be made to the US Designated Account. Canadian Agent is authorized to make the Canadian Advances and Canadian Issuing Lender is authorized to issue the Canadian Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be an Authorized Person or, without instructions, if pursuant to Section 2.6(d). Canadian Borrowers agree to establish and maintain the Canadian Designated Account for the purpose of receiving the proceeds of the Canadian Advances requested by the Canadian Borrowers and made by Canadian Agent or the Lenders hereunder. Unless otherwise agreed by Canadian Agent and Canadian Borrowers, any Canadian Advance or Canadian Swing Loan requested by a Canadian Borrower and made by Canadian Agent or the Lenders hereunder shall be made to the Canadian Designated Account.
Designated Accounts. Collectively, the Collection Account, the Reserve Account, the Note Distribution Account, the Negative Carry Account and the Pre-Funding Account.
Designated Accounts. 49 SECTION 8.3
Designated Accounts. The Administrative Agent is authorized to make the Advances and each Issuing Bank is authorized to issue the Letters of Credit, under this Agreement based upon telephonic or other instructions received from anyone purporting to be a Responsible Officer or, without instructions, if pursuant to Section 2.5(d). The U.S. Borrowers agree to establish and maintain the U.S. Designated Account with the U.S. Designated Account Bank for the purpose of receiving the proceeds of the U.S. Advances requested by the U.S. Borrowers and made by the Administrative Agent or U.S. Revolving Lenders hereunder. Unless otherwise agreed by the Administrative Agent and the U.S. Borrowers, any U.S. Advance or U.S. Swingline Loan requested by the U.S. Borrowers and made by the Administrative Agent or the U.S. Revolving Lenders hereunder shall be made to the U.S. Designated Account. The Canadian Borrowers agree to establish and maintain the Canadian Designated Account with the Canadian Designated Account Bank for the purpose of receiving the proceeds of the Canadian Advances to the Canadian Borrowers requested by the Canadian Borrowers and made by the Administrative Agent or the Canadian Revolving Lenders hereunder. Unless otherwise agreed by the Administrative Agent and the Canadian Borrowers, any Canadian Advance requested by the Canadian Borrowers and made by the Administrative Agent or Canadian Revolving Lenders hereunder shall be made to the Canadian Designated Account.
Designated Accounts. You must designate your Checking Account as the account from which payments that you authorize will be deducted. The Checking Account must be current and active with no restrictions. You will be given the ability to set up merchants, institutions or individuals to whom you would like to schedule payments. The following payments are prohibited: governmental agencies, tax payments, court ordered payments, and payments outside of the United States. We reserve the right to not allow the designation of a particular merchant or institution or other categories of payees that we establish from time to time using our electronic services.
