Establishment of Collection Accounts. (a) Prior to the first Payment Date on which amounts will be due and payable pursuant to Section 10.2 of the Credit and Security Agreement to a party other than AmeriCredit (in its capacity as Servicer, as Lender or otherwise) the Collateral Agent, on behalf of the Lender, shall establish and maintain in its own name an Eligible Deposit Account (the “Lending Facility Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Collateral Agent on behalf of the Lender. Prior to the establishment of such Lending Facility Collection Account, all amounts required to be deposited thereto shall instead be deposited with or at the direction of the Servicer, for further application by the Servicer in accordance with the terms hereof. The Collateral Agent will also establish an Exchange Note Collection Account pursuant to each Servicing Supplement that will relate to the related Designated Pool and Exchange Note. Each Collection Account shall initially be established with the Collateral Agent.
Establishment of Collection Accounts. (a) In accordance with the provisions of the Operating Lease, (i) Operating Company has established and will maintain for the benefit of Mortgage Borrower, as lessor under the Operating Lease, the Collection Accounts with Collection Banks throughout the term of the Mortgage Loan and (ii) the rights of Mortgage Borrower (as landlord) under the Operating Lease have been collaterally assigned to Mortgage Lender. All Revenues, other than amounts retained on-site by each Operating Company as a Gaming Operating Reserve and amounts collected and maintained in Off-Shore Accounts, shall be deposited in the Collection Accounts.
Establishment of Collection Accounts. (a) In accordance with the provisions of the Operating Lease, (i) Operating Company will establish within thirty (30) days after the Closing Date) and will maintain for the benefit of Mortgage Borrower, as lessor under the Operating Lease, the Collection Accounts with Collection Banks throughout the term of the Mortgage Loan and (ii) the rights of Mortgage Borrower (as landlord) under the Operating Lease will be collaterally assigned to Mortgage Lender within such 30-day period. All Revenues, other than amounts retained on-site by each Operating Company as a Gaming Operating Reserve and amounts collected and maintained in Off-Shore Accounts, will be deposited in the Collection Accounts.
Establishment of Collection Accounts. (a) (i) In accordance with the provisions of the Operating Lease, Operating Company established and is currently maintaining (and will maintain throughout the term of the Mortgage Loan) for the benefit of Mortgage Borrower, as lessor under each Operating Lease, the Collection Accounts with Collection Banks and (ii) the rights of Mortgage Borrower (as landlord) under the Operating Lease have been collaterally assigned to Collateral Agent (as such term is defined in the Mortgage Loan Agreement (“Mortgage Loan Collateral Agent”)) (for the benefit of Mortgage Lender). All Revenues, other than amounts retained on-site by each Operating Company as a Gaming Operating Reserve and amounts collected and maintained in Off-Shore Accounts, shall be deposited in the Collection Accounts (whether by Operating Company or by Manager).
Establishment of Collection Accounts. As of the Series 2020-1 Closing Date, the Trustee has established (i) two (2) segregated trust accounts denominated in U.S. Dollars designated as the “U.S. Collection Account” in the name of the Trustee for the benefit of the Secured Parties (x) one of which will hold U.S. Collections (the “Issuer U.S. Collection Account for U.S. Collections”) and (y) the other of which will hold any Canadian Allocation and Shortfall Payment Amount and any other Canadian Collections denominated in U.S. Dollars (the “Canadian Co-Issuer U.S. Collection Account for the Canadian Allocation and Shortfall Payment Amount”) and (ii) one (1) segregated trust accounts denominated in Canadian Dollars designated as the “Canadian Co-Issuer Canadian Collection Account for Canadian Collections” in the name of the Trustee for the benefit of the Secured Parties which will hold Canadian Collections (including any Canadian Allocation and Shortfall Payment Amount that will not be settled in U.S. Dollars). On or after the Series 2020-1 Closing Date, the Trustee shall establish, maintain, and administer one (1) segregated trust account denominated in Canadian Dollars which will hold any Canadian Dollar-denominated U.S. Shortfall Payment Amount. The Collection Accounts shall be Eligible Accounts.
Establishment of Collection Accounts. On or prior to the date hereof, the Borrower has and has caused each of its Subsidiaries to enter into and the Borrower shall and shall cause each of its Subsidiaries thereafter to maintain cash collection account arrangements and/or similar arrangements for the concentration of their collection of Receivables included in the Collateral and other proceeds of Collateral into one or more Collection Accounts, in form and substance reasonably acceptable to the Collateral Agent, and in connection with such arrangements, the Borrower shall have entered into and shall thereafter maintain and shall cause its Subsidiaries to enter into and thereafter maintain in effect Collection Account Agreements for each of such Collection Accounts. Notwithstanding the foregoing, the Borrower and its Subsidiaries shall be permitted to maintain deposit accounts for the collection of Receivables which consist of minimum balance accounts subject to established arrangements pursuant to which the amounts on deposit in such accounts (other than a minimum balance of up to $5,000 per account which is permitted to remain therein) are automatically transferred (on a periodic basis acceptable to the Collateral Agent) to concentration accounts which are Collection Accounts and subject to a Collection Account Agreement (the "PERMITTED SWEEP ACCOUNTS"). On or prior to the date hereof, the Borrower has and has caused its Subsidiaries to put in place arrangements so that their account debtors directly remit all payments on accounts receivable to the Collection Accounts or Permitted Sweep Accounts. Any collections received by the Borrower or any Subsidiary and not deposited in the Collection Accounts or Permitted Sweep Accounts, shall be deemed to have been received by the Borrower or such Subsidiary as the Collateral Agent's trustee and, upon the receipt thereof, the Borrower or shall transfer or cause the Subsidiary, as applicable, to transfer promptly all such amounts into a Collection Account or Permitted Sweep Account in their original form. All deposits in any Collection Account shall be remitted to the Borrower, its Subsidiaries, the Collateral Agent or as the Collateral Agent may direct, all in accordance with the provisions of the Collection Account Agreements.
Establishment of Collection Accounts. (1) Pursuant to a Servicing Agreement executed in connection with each Series of Bonds, there shall be established and there shall be maintained for such Series of Bonds a Primary Collection Account and a Secondary Collection Account in the name of the Indenture Trustee until the Principal Amount of the Bonds of such Series has been reduced to zero, and thereafter in the name of the Issuer. Each of the Collection Accounts shall be under the sole dominion and control of the Indenture Trustee until the Principal Amount of the Bonds of such Series has been reduced to zero, and thereafter under the dominion and control of the Issuer; provided, that the related Master Servicer may make deposits to, and make withdrawals from, either of the Collection Accounts in accordance with the related Servicing Agreement, this Indenture and, if applicable, the related Supplemental Indenture. All deposits to and withdrawals from the Collection Accounts shall be made only upon the terms and conditions of the related Transaction Documents.
Establishment of Collection Accounts. (a) Prior to the Closing Date, the Servicer shall open an account, which may be with the Servicer or the Bank, in the name of WFSRC2 (the "Collection Account"), bearing a designation clearly indicating that the funds deposited in or credited to such account are held for the benefit of WFSRC2. The Collection Account shall relate solely to the Contracts. The Servicer shall give WFSRC2 at least five Business Days' written notice of any change in the location of the Collection Account and any related account identification information. All monies deposited in or credited to, from time to time, the Collection Account shall be the property of WFSRC2.
Establishment of Collection Accounts. (a) The Collateral Agent, on behalf of the Lender, has established and maintains in its own name an Eligible Deposit Account (the “Lending Facility Collection Account”), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Collateral Agent on behalf of the Lender. The Collateral Agent will also establish an Exchange Note Collection Account pursuant to each Servicing Supplement that will relate to the related Designated Pool and Exchange Note. Each Collection Account shall be an Eligible Deposit Account established with an Eligible Institution.
Establishment of Collection Accounts. 24 Section 3.04 Establishment of Bond Distribution Account..............24 Section 3.05 Establishment of Certificate Distribution Account.......24
