Ownership of the Collection Accounts Sample Clauses

Ownership of the Collection Accounts e) All amounts of money it receives during the life of the present Trust Agreement from Advertisers, as well as any other Settlor, subsidiary, or affiliate, in relation to the sale of airtime for Commercials on the Mexico City Channel 13 National Network; Mexico City Channel 7 National Network; and Chihuahua, Chihuahua Channel 2;
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Ownership of the Collection Accounts. For the avoidance of doubt, the Controlled Accounts (including income, if any, earned on the investments of funds in such account) will be owned by the Borrower or its regarded owner, for U.S. federal income tax purposes. The Borrower is required to provide to the Account Bank (i) an IRS Form W-9 or appropriate IRS Form W-8 for the Borrower as payment recipient no later than the Closing Date, and (ii) any additional IRS forms (or updated versions of any previously submitted IRS forms) or other documentation upon the reasonable request of the Account Bank as may be necessary (i) to reduce or eliminate the imposition of U.S. withholding taxes and (ii) to permit the Account Bank to fulfill its tax reporting obligations under applicable law with respect to the Accounts or any amounts paid to the Borrower. If any IRS form or other documentation previously delivered becomes inaccurate in any respect, the Borrower shall timely provide to the Account Bank accurately updated and complete versions of such IRS forms or other documentation.
Ownership of the Collection Accounts e) The Indemnification, if any.

Related to Ownership of the Collection Accounts

  • Establishment of the Collection Account The Borrower or the Servicer on its behalf shall cause to be established, on or before the Closing Date, and maintained in the name of the Borrower and assigned to the Administrative Agent as agent for the Secured Parties, with an office or branch of a depository institution or trust company organized under the laws of the United States or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank) a segregated corporate trust account (the “Collection Account”) for the purpose of receiving Collections from the Collateral; provided, however, that at all times such depository institution or trust company shall be a depository institution organized under the laws of the United States or any one of the States thereof or the District of Columbia (or any domestic branch of a foreign bank), (i) (A) that has either (1) a long-term unsecured debt rating of A- or better by S&P and A-3 or better by Xxxxx’x or (2) a short-term unsecured debt rating or certificate of deposit rating of A-1 or better by S&P or P-1 or better by Xxxxx’x, (B) the parent corporation of which has either (1) a long-term unsecured debt rating of A- or better by S&P and A-3 or better by Xxxxx’x or (2) a short-term unsecured debt rating or certificate of deposit rating of A-1 or better by S&P and P-1 or better by Xxxxx’x or (C) is otherwise acceptable to the Administrative Agent and (ii) whose deposits are insured by the Federal Deposit Insurance Corporation (any such depository institution or trust company, a “Qualified Institution”).

  • Collection Accounts Section 3.11 Withdrawals from the Collection Accounts..................... Section 3.12 Investment of Funds in the Collection Accounts and the Distribution Account......................................... Section 3.13 Maintenance of Hazard Insurance and Errors and Omissions and Fidelity Coverage........................................ Section 3.14 Enforcement of Due-on-Sale Clauses; Assumption Agreements.... Section 3.15

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