ACH Sweep Account definition

ACH Sweep Account means either (i) an account established at Green Bank bearing the account number ***, which is held by the Indenture Trustee on behalf of the Noteholders, and which is subject to an ACH Sweep Blocked Account Control Agreement, and for which an Obligor shall be directed to remit all ACH payments, if applicable, under its applicable Contract, or (ii) an account established at North American Bank bearing the account number ***, which is held by the Indenture Trustee on behalf of the Noteholders, and which is subject to an ACH Sweep Blocked Account Control Agreement, and for which an Obligor shall be directed to remit all ACH payments, if applicable, under its applicable Contract.
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ACH Sweep Account means an account established at Veritex, or such other bank selected by the Servicer or Sponsor, which is held by the Indenture Trustee on behalf of the Noteholders, and which is subject to an ACH Sweep Blocked Account Control Agreement, and for which an Obligor shall be directed to remit all ACH payments, if applicable, under its applicable Contract.
Sample 1
ACH Sweep Account means either (i) an account established at Veritex bearing the account number 5501739360, which is held by the Indenture Trustee on behalf of the Noteholders, and which is subject to an ACH Sweep Blocked Account Control Agreement, and for which an Obligor shall be directed to remit all ACH payments, if applicable, under its applicable Contract.
Sample 1

Examples of ACH Sweep Account in a sentence

  • All Collections received, net of returns, in the ACH Sweep Account shall be remitted to the Collateral Account on each Business Day by the Servicer.

  • In the event that Issuer or any Affiliate of Issuer receives any Collections (including checks) directly from or on behalf of an Account Debtor in a manner other than through a deposit into the Collection Receipt Accounts or the ACH Sweep Account, as applicable, Issuer or such Affiliate shall receive all such Collections in trust for the benefit of Collateral Agent on behalf of the Secured Parties.

  • In the event that Issuer or any Affiliate of Issuer receives any Collections (including checks) directly from or on behalf of an Account Debtor in a manner other than through a deposit into the Collection Receipt Accounts or the ACH Sweep Account, as applicable, Issuer or such Affiliate shall receive all such Collections in trust for the benefit of Collateral Trustee on behalf of the Secured Parties.

  • In the event that Borrower or any Affiliate of Borrower receives any Collections (including checks) directly from or on behalf of an Account Debtor in a manner other than through a deposit into the Collection Receipt Accounts or the ACH Sweep Account, as applicable, Borrower or such Affiliate shall receive all such Collections in trust for the benefit of Agent as secured party hereunder.

  • IMS Entering Cash Initiates Cash Process Check Retrieve Funds ACH Sweep Account Check Received Bounced ACH Funds Credit Card Charged to Agent/ No Transferred Insured IMS Continues collection efforts No Check clears Sweep Account Credit Processed Yes Yes Notify Reliance Via Bounced ACH Email charged to Agent/ No Funds Automatic Policy Insured Transferred Issuance IMS Issues Policy Yes No IMS Cancel Policy Submit Credit Card # No Cancel Policy w/in 24 hrs.

  • The Administrative Agent shall direct the Collateral Trustee in writing upon an Event of Default to send the Initial Instructions attached as an exhibit to the ACH Sweep Account Control Agreement.


More Definitions of ACH Sweep Account

ACH Sweep Account means an account established at Green Bank, N.A. bearing the account number 5501272255, in the name of Borrower, and which is subject to an ACH Sweep Account Control Agreement, and to which a Servicer shall direct all ACH payments, if applicable, under its applicable Portfolio Documents.
Sample 1
ACH Sweep Account means an account to be established prior to the Cut-Over Date at U.S. Bank National Association, bearing the account number set forth in that certain side letter dated as of July 26, 2016, by and among the Master Servicer, the Issuer, the Administrative Agent, each Variable Funding Note Noteholder and Bankers Trust, which is held by the Indenture Trustee on behalf of the Noteholders, which is subject to the ACH Sweep Blocked Account Control Agreement, and for which an Obligor shall remit all ACH payments, if applicable, under its applicable Contract.”
Sample 1
ACH Sweep Account means an account established at Veritex Community Bank bearing the account number 5501702624 in the name of Issuer, and which is subject to an ACH Sweep Account Control Agreement, and to which a Servicer shall direct all ACH payments, if applicable, under its applicable Portfolio Documents.
Sample 1
ACH Sweep Account means (a) with respect to any day prior to the ACH Sweep Account Transition Date, an account to be established prior to the Cut-Over Date at U.S. Bank National Association, bearing the account number set forth in that certain side letter dated as of July 26, 2016, by and among the Master Servicer, the Issuer, the Administrative Agent, each Variable Funding Note Noteholder and Bankers Trust, which is held by the Indenture Trustee on behalf of the Noteholders and (b) with respect to any day on or after the ACH Sweep Account Transition Date, an account established at Green Bank, bearing the account number ***, which is held by the Indenture Trustee on behalf of the Noteholders, and in each case which is (prior to, and as a condition precedent to, any amounts being deposited therein) subject to the ACH Sweep Blocked Account Control Agreement, and for which an Obligor shall (once such account is subject to an ACH Sweep Blocked Account Control Agreement) be directed to remit all ACH payments, if applicable, under its applicable Contract.”
Sample 1
ACH Sweep Account means an account established at Axos Bank bearing the account number 890000131916 in the name of Issuer, and which is subject to an ACH Sweep Account Control Agreement, and to which a Servicer shall direct all ACH payments, if applicable, under its applicable Portfolio Documents.
Sample 1

Related to ACH Sweep Account

  • Disbursement Account means one or more accounts maintained by and in the name of Tultex or any other Borrower with a Disbursing Bank for the purposes of disbursing Revolving Credit Loan proceeds and amounts deposited thereto.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Expense Reserve Account The trust account established pursuant to Section 10.3(d).

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Reserve Accounts means the Tax Account, the Insurance Account, the Replacement Reserve Account, the Immediate Repair Account, the Leasing Reserve Account, the Excess Cash Flow Account, the Operating Expense Account, the Ground Rent Account and any other escrow account established by this Agreement or the other Loan Documents (but specifically excluding the Cash Management Account, the Restricted Account and the Debt Service Account).

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.