The Collateral Account. (a) On the date hereof there shall be established and, at all times thereafter there shall be maintained by the Collateral Agent an account which shall be entitled the "AWHI Collateral Account" (the "Collateral Account"). The Collateral Agent may establish and maintain one or more sub-accounts under the Collateral Account, each of which shall constitute a part of the Collateral Account.
(b) Subject to paragraph (c) below, all moneys which are received by the Collateral Agent from the Company and which are identified as constituting Net Cash Proceeds (as such term is defined in the Senior Indenture or, if the Senior Indenture is not then in effect, the Junior Indenture) shall be deposited in the Collateral Account and thereafter shall be held, applied and/or disbursed by the Collateral Agent in accordance with the terms of this Section 5.2(b). All such moneys received by the Collateral Agent shall be invested in an interest bearing bank deposit as directed by AWHI. In the absence of such direction such moneys shall not be invested. As and when directed by the Applicable Representative in writing, the Collateral Agent shall deliver such amounts, together with any accrued interest thereon, to the Senior Trustee for application to the Senior Notes in accordance with the Senior Indenture or, if the Senior Indenture is not then in effect, to the Junior Trustee for application to the Junior Notes in accordance with the Junior Indenture.
(c) All moneys which are received by the Collateral Agent with respect to the Collateral at any time after a Notice of Acceleration Default shall have been given to the Collateral Agent by the Applicable Representative or a Notice of Actionable Default shall have been given to the Collateral Agent by Majority Creditors, and shall not have been withdrawn, shall be deposited in the Collateral Account and thereafter shall be held, applied and/or disbursed by the Collateral Agent in accordance with the terms of this Collateral Agent Agreement. In the event that any such Notice of Acceleration Default shall have been withdrawn by the Applicable Representative or any such Notice of Actionable Default shall have been withdrawn by Majority Creditors, upon the written request of AWHI, moneys on deposit in the Collateral Account shall be paid over to the Concentration Account or to another Blocked Account.
The Collateral Account. Each Borrower will deposit, or cause to be deposited, all Items of Payment to a bank account or bank accounts designated by Lender and from which Lender alone has power of access and withdrawal (collectively, the “Collateral Account”). In the case of any deposit that is made by a Borrower manually (i.e., the payment is received by a Borrower rather than being delivered to the Lockbox or wired to the Collateral Account), such deposit shall be made promptly after the date of receipt of the Items of Payment. The Items of Payment shall be deposited in precisely the form received, except for the endorsements of the applicable Borrower where necessary to permit the collection of any such Items of Payment, each Borrower hereby agreeing to make such endorsement. In the event any Borrower shall fail to do so, Lender is hereby authorized by each Borrower to make the endorsement in the name of the applicable Borrower. Prior to such a deposit, Borrowers will not commingle any Items of Payment with any of the other funds or property of any Borrower, but will hold them separate and apart in trust and for the account of Lender. Each Borrower shall direct its Account Debtors that all Items of Payment are to be either (a) wired to the Collateral Account or (b) mailed to one or more post-office boxes designated by Lender, or to such other additional or replacement post-office boxes pursuant to the request of Lender from time to time (collectively, the “Lockbox”). Lender shall have unrestricted and exclusive access to the Lockbox. Each Borrower hereby authorizes Lender to inspect all Items of Payment, endorse all Items of Payment in the name of such Borrower, and deposit such Items of Payment in the Collateral Account. Lender reserves the right, exercised in its sole and absolute discretion from time to time, to provide to the Collateral Account credit prior to final collection of an Item of Payment and to disallow credit for any Item of Payment which is unsatisfactory to Lender. In the event Items of Payment are returned to Lender for any reason whatsoever, Lender may, in the exercise of its discretion from time to time, forward such Items of Payment a second time. Any returned Items of Payment shall be charged back to the Collateral Account, the Revolving Loan Account, or other account, as appropriate. Lender will apply the whole or any part of the collected funds credited to the Collateral Account against the Revolving Loan (or with respect to Items of Payment that are no...
The Collateral Account. On the Effective Date there shall be established and, at all times thereafter until the trust created by this Agreement shall have terminated, there shall be maintained in the name of the Company at such office of U.S. Bank National Association as selected by the Collateral Trustee an account which is entitled the “ACAS Collateral Account” (the “Collateral Account”). All direct or indirect Proceeds of Collateral and all other moneys that are required by this Agreement or any other Trust Security Document to be delivered to the Collateral Trustee while a Notice of Acceleration is in effect or which are received by the Collateral Trustee or any agent or nominee of the Collateral Trustee in respect of the Collateral while a Notice of Acceleration is in effect, whether in connection with the exercise of the remedies provided in this Agreement, any other Trust Security Document or otherwise (collectively, the “Trust Monies”) shall be deposited in the Collateral Account to be held by the Collateral Trustee as part of the Trust Estate and applied in accordance with the terms of this Agreement. For the avoidance of doubt, Trust Monies shall not include Prepayment Monies deposited pursuant to (and as defined in) Section 3A of this Agreement. Subject to Section 2.11(b), upon request of the Company at any time when no Notice of Acceleration is in effect, the Collateral Trustee shall (subject to the first sentence of Section 3.4(a)) cause all funds on deposit in the Collateral Account to be paid over to the Grantors in accordance with their respective interests.
The Collateral Account. At such time as the Collateral Agent deems appropriate, there shall be established and, at all times thereafter until this Agreement shall have terminated, the Collateral Agent shall maintain a separate collateral account under its sole dominion and control (the “Collateral Account”). All moneys which are received by the Collateral Agent or any agent or nominee of the Collateral Agent in respect of the Collateral, whether in connection with the exercise of the remedies provided in this Agreement or any Security Document, shall be deposited in the Collateral Account and held by the Collateral Agent as part of the Collateral and applied in accordance with the terms of this Agreement.
The Collateral Account. Upon an Event of Default, the Agent shall establish and maintain at its principal office an interest-bearing account that shall be entitled the "Redline Collateral Account." All moneys received by the Agent with respect to Collateral after an Event of Default shall be deposited in the Account and thereafter shall be held, applied and/or disbursed by the Agent in accordance with Section 12 hereof. In no event shall moneys other than proceeds of Collateral (and interest thereon) be deposited in the Collateral Account. The Collateral Account at all times shall be subject to the exclusive dominion and control of the Agent.
The Collateral Account. On the date hereof there shall be established and, at all times thereafter until this Agreement shall have terminated, there shall be maintained with the Collateral Agent an account that shall be entitled the “Century Aluminum Collateral Account” (the “Collateral Account”). The Collateral Account shall be established and maintained by the Collateral Agent at its designated corporate trust offices. All moneys that are received by the Collateral Agent after the occurrence of an Actionable Default in connection with any collection, sale, foreclosure or other realization upon any Collateral shall be deposited in the Collateral Account and thereafter shall be held and applied by the Collateral Agent in accordance with the terms of this Agreement, the other Security Documents and the Intercreditor Agreement. To the extent necessary, appropriate or desirable, the Collateral Agent from time to time may establish sub-accounts as part of the Collateral Account for the purpose of better identifying and maintaining proceeds of Collateral, all of which sub-accounts shall be treated as and be deemed equivalent to, the Collateral Account for all purposes hereof.
The Collateral Account. At such time as the Collateral Agent deems appropriate, there shall be established and, at all times thereafter until this Agreement shall have terminated, there shall be maintained with the Collateral Agent an account which shall be entitled the "Lucent Collateral Account" (the "Collateral Account"). All moneys which are received by the Collateral Agent or any agent or nominee of the Collateral Agent in respect of the Collateral, whether in connection with the exercise of the remedies provided in this Agreement or any Security Document, shall be deposited in the Collateral Account and held by the Collateral Agent as part of the Collateral Estate and applied in accordance with the terms of this Agreement. The Collateral Agent shall maintain such sub-accounts and records with respect to the Collateral Account as will permit the segregation and allocation of proceeds of Collateral in accordance with Section 3.4. In the event that, on any day, an amount is received by the Collateral Agent or any agent or nominee of the Collateral Agent in respect of Collateral and such amount is denominated in any currency other than dollars, the Collateral Agent shall convert such amount into an amount of dollars based upon the relevant Exchange Rate in effect for such day.
The Collateral Account. The Borrowers will deposit, or cause to be deposited, all Items of Payment to a bank account designated by the Lender and from which the Lender alone has power of access and withdrawal (the "Collateral Account"). Each deposit shall be made not later than the next Business Day after the date of receipt of the Items of Payment. The Items of Payment shall be deposited in precisely the form received, except for the endorsements of the Borrowers where necessary to permit the collection of any such Items of Payment, each Borrower hereby agreeing to make such endorsement. In the event any Borrower shall fail to do so, the Lender is hereby authorized by each Borrower to make the endorsement in the name of such Borrower. Prior to such a deposit, none of the Borrowers will not commingle any Items of Payment with any of the other funds or property of any other Borrower, but will hold them separate and apart in trust and for the account of the Lender.
The Collateral Account. DISTRIBUTIONS
The Collateral Account. Upon receipt by the Collateral Agent of a Notice of Actionable Default, and until such time as the Event of Default described therein is cured or waived, the Collateral Agent shall establish and maintain at its principal office an interest-bearing account that shall be entitled the “United Stationers Collateral Account.” All moneys received by the Collateral Agent with respect to Collateral after receipt of a Notice of Actionable Default shall be deposited in the Collateral Account and thereafter shall be held, applied and/or disbursed by the Collateral Agent in accordance with Section 9. In addition, any other payments received, directly or indirectly, by any Lender of or with respect to any of the Obligations (including, without limitation, any payment by any Credit Party under any Guaranty) after giving or receiving a Notice of Actionable Default (excluding any payments distributed to any Lender by the Collateral Agent in accordance with Section 9), any payment received by any Lender (whether direct or indirect, by foreclosure, set-off, exercise of banker’s lien or otherwise) from the Company or any Credit Party made during the continuance of an Actionable Default (other than scheduled payments of interest, fees and principal in respect of the Obligations), and any payment received by any Lender with respect to any of the Obligations in an insolvency or reorganization proceeding with respect to the Company or any Credit Party, shall promptly be delivered to the Collateral Agent and thereafter shall be held, applied and/or disbursed by the Collateral Agent in accordance with Section 9. The Collateral Account at all times shall be subject to the exclusive dominion and control of the Collateral Agent.
