The Collection Account and Hedge Reserve Account. (a) On or prior to the Closing Date, the Borrower shall establish and shall thereafter maintain a segregated account in the name of the Borrower for the purpose of receiving Collections (the “Collection Account”). The taxpayer identification number associated with the Collection Account shall be that of the Borrower and the Borrower will report for Federal, state and local income taxes, the income, if any, represented by the Collection Account.
Appears in 3 contracts
Samples: Servicing Agreement (Hilton Grand Vacations Inc.), Sale and Contribution Agreement (Hilton Grand Vacations Inc.), Sale and Contribution Agreement (Hilton Grand Vacations Inc.)
The Collection Account and Hedge Reserve Account. (a) On or prior to the Original Closing Date, the Borrower shall establish have established and shall thereafter maintain a segregated account in the name of the Borrower for the purpose of receiving Collections (the “Collection Account”). The taxpayer identification number associated with the Collection Account shall be that of the Borrower and the Borrower will report for Federal, state and local income taxes, the income, if any, represented by the Collection Account.
Appears in 2 contracts
Samples: Receivables Loan Agreement (Hilton Grand Vacations Inc.), Receivables Loan Agreement (Hilton Grand Vacations Inc.)
The Collection Account and Hedge Reserve Account. (a) A. On or prior to the Closing Date, the Borrower shall establish and shall thereafter maintain a segregated account in the name of the Borrower for the purpose of receiving Collections (the “Collection Account”). The taxpayer identification number associated with the Collection Account shall DB1/ 121185831.0000000000.9 56 Execution Version be that of the Borrower and the Borrower will report for Federal, state and local income taxes, the income, if any, represented by the Collection Account.
Appears in 1 contract
Samples: Sale and Contribution Agreement (Hilton Grand Vacations Inc.)
