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.
(b) Unless otherwise specified in the related Servicing Supplement with respect to an Exchange Note Collection Account, funds on deposit in the Collection Accounts shall be invested by the Collateral Agent (or any custodian with respect to funds on deposit in any such account) in Permitted Investments selected in writing by the Servicer (pursuant to standing instructions or otherwise). All such Permitted Investments shall be held by or on behalf of the Collateral Agent for the benefit of the related Secured Party. Funds on deposit in any Trust Account shall be invested in Permitted Investments that will mature so that such funds will be available at the close of business on the Business Day immediately preceding the following Payment Date. All Permitted Investments will be held to maturity. The Servicer acknowledges that upon its written request and at no additional cost, it has the right to receive notification after the completion of each such investment or the Collateral Agent’s receipt of a broker’s confirmation. The Servicer agrees that such notifications will not be provided by the Collateral Trustee hereunder, and the Collateral Trustee shall make available, upon request and in lieu of notifications, periodic account statements that reflect such investment activity. No statement need be made available if no activity has occurred in the relevant Account during such period.
(c) All Investment Earnings of ...
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.
(b) Borrower hereby represents and warrants as follows: when established, the Collection Accounts will be the only accounts maintained by Operating Company in any jurisdiction that include funds arising out of, or are otherwise attributable to, the Properties or relate to the operation and management of any of the Properties (other than accounts (collectively, the “OC Accounts”) that contain amounts theretofore released from Collection Accounts in accordance herewith, and other than Off-Shore Accounts, which shall not be subject to this Agreement; and neither Borrower nor Mortgage Borrower maintains any accounts that include funds arising out of, or are otherwise attributable to, any of the Properties or relate to the operation and management of any of the Properties or otherwise (except for accounts containing funds released from the Collection Accounts as herein provided and the Off-Shore Accounts). None of Mortgage Borrower, Senior Mezzanine Borrower, Borrower or Operating Company may (and Borrower shall not permit Mortgage Borrower, Senior Mezzanine Borrower or Operating Company to), without the prior consent of Lender (not to be unreasonably withheld, conditioned or delayed), open any accounts or new accounts or in any way alter the flow of funds and payment into such Collection Accounts, including, without limitation, changing the source, type or currency of any payments currently deposited and maintained in any such account (it being understood that the foregoing restriction shall not preclude Operating Company, Mortgage Borrower, Senior Mezzanine Borrower or Borrower from accepting and depositing in any Collection Accounts any capital contributions, or any disbursements from any Collection Accounts in accordance with the provisions of the Mortgage Loan Agreement, thi...
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. Within ninety (90) days after the date hereof (or, in the case of any Subsidiary that becomes a Guarantor after the date hereof, within ninety (90) days after the date such Subsidiary becomes a Guarantor), the Borrower shall and shall have caused each of the Guarantors to have entered into and shall thereafter maintain (and cause the Guarantors to maintain) lock-box services agreements, cash collection account arrangements and/or similar arrangements for the 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 Agent, and in connection with such arrangements, the Borrower shall have entered into and caused each of the Guarantors to have entered into and shall thereafter maintain (and cause the Guarantors to maintain) in effect Collection Account Agreements for each of such Collection Accounts. Within ninety (90) days after the date hereof (or, in the case of any Subsidiary that becomes a Guarantor after the date hereof, within ninety (90) days after the date such Subsidiary becomes a Guarantor), the Borrower has and has caused each of the Guarantors to put in place arrangements so that its Account Debtors directly remit all payments on Receivables to the Collection Accounts (or lock boxes established in connection therewith). Any of the foregoing collections received by the Borrower or any Guarantor and not deposited in the Collection Accounts, shall be deemed to have been received by the Borrower and/or Guarantor as the Agent's trustee and, upon the receipt thereof, the Borrower shall promptly transfer or cause such Guarantor to promptly transfer all such amounts into a Collection Account in their original form. All deposits in any Collection Account shall be remitted to the Borrower, the Agent or as the Agent may direct, all in accordance with the provisions of the Collection Account Agreements.
Establishment of Collection Accounts. On or prior to the date that is thirty (30) days after the Closing Date, the Borrower shall have entered into and shall thereafter maintain lock-box services agreements, cash collection account arrangements and/or similar arrangements for the 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 Agent, and in connection with such arrangements, the Borrowers shall have entered into and shall thereafter maintain in effect Collection Account Agreements for each of such -39- 47
Establishment of Collection Accounts and the Collection Concentration Accounts; Authority of the Trustee in Respect of the Collection Accounts and the Collection Concentration Accounts and
Establishment of Collection Accounts. 24 Section 3.04 Establishment of Bond Distribution Account..............24 Section 3.05 Establishment of Certificate Distribution Account....
Establishment of Collection Accounts. On the Closing Date, the Borrower shall have entered into and shall thereafter maintain lock-box services agreements, cash collection account arrangements and/or similar arrangements for the collection of Accounts included in the Collateral and other proceeds of Collateral into one or more Collection Accounts, in form and substance reasonably acceptable to the Administrative Agent, and in connection with such arrangements, the Borrower shall have entered into and shall thereafter maintain in effect Collection Account Agreements for each of such Collection Accounts. On the Closing Date, the Borrower shall put in place arrangements so that its account debtors directly remit all payments on Accounts to the Collection Accounts (or lock boxes established in connection therewith). Any of the foregoing collections received by the Borrower and not deposited in the Collection Accounts, shall be deemed to have been received by the Borrower as the Administrative Agent's trustee and, upon the receipt thereof, the Borrower shall promptly transfer all such amounts into a Collection Account in their original form. All deposits in any Collection Account shall be remitted to the Administrative Agent or as the Administrative Agent may direct, all in accordance with the provisions of the Collection Account Agreements.
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 Loan) for the benefit of Borrower, as lessor under each Operating Lease, the Collection Accounts with Collection Banks and (ii) the rights of Borrower (as landlord) under the Operating Lease have been collaterally assigned to Collateral Agent (for the benefit of 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. Except to the extent that the proceeds of any of the accounts receivable of the Brightstar Parties and any other Collateral is required to be deposited in a Blocked Account pursuant to (and as that term is defined in) the PNC Credit Agreement, all such proceeds shall be deposited by the Brightstar Parties into deposit accounts (collectively, "Collection Accounts") established at a bank or banks (each such bank, a "Collection Account Bank") pursuant to an arrangement with such Collection Account Bank as may be selected by the Brightstar Parties and be acceptable to Motorola. The relevant Brightstar Parties, Motorola and each Collection Account Bank shall enter into a deposit account control agreement in form and substance satisfactory to Motorola (including a waiver or subordination of any Lien or offset right by the Collection Account Bank) with respect to each Collection Account pursuant to which Motorola will acquire "control" of such Collection Account within the meaning of Article 9 of the Uniform Commercial Code or the equivalent under other applicable law. To the extent that the proceeds of any accounts receivable of the Brightstar Parties or other Collateral are required to be deposited in a Blocked Account under (and as that term is defined in) the PNC Credit Agreement, the Brightstar Parties shall take whatever steps are necessary for Motorola to have "control" over such Blocked Account along with the Agent.
