Examples of Assignee Concentration Account in a sentence
Assignee shall have immediate and full access to any funds held in the Assignee Concentration Account not subject to any conditions or restrictions whatsoever.
Funds deposited into the Lockbox Account shall be swept by the Lockbox Bank on a daily basis into the Joint Concentration Account and immediately subsequent thereto, the Advance Payment Amounts and the Daily Amount shall be swept into Assignee Concentration Account and the Royalty Interests (less the Advance Payment Amounts and the Daily Amount) shall be swept into the Assignor Concentration Account.
Any Assignee Concentration Account shall be held solely for the benefit of Assignee, but shall be subject to the terms and conditions of this Agreement, the Security Agreement and the other Transaction Documents.
After the Advance Payment Amounts and the Daily Amount is swept into the Assignee Concentration Account and the amount of the Royalty Interests (less the Advance Payment Amounts and the Daily Amount) is swept into the Assignor Concentration Account, the amounts remaining in the Joint Concentration Account shall then be swept, at the direction of Orthovita, into the Orthovita Concentration Account.
Proceeds from the sale of Products in the amount of the Advance Payments which are received from time to time in the Lockbox Account (the "Advance Payment Amounts") shall be swept from the Joint Concentration Account into the Assignee Concentration Account on a daily basis pursuant to Section 5.10.
After the Advance Payment Amounts and the Daily Amount is swept into the Assignee Concentration Account the amounts remaining in the Joint Concentration Account shall then be swept, at the direction of Assignor, into the Assignor Concentration Account.
Funds deposited into the Lockbox Account shall be swept by the Lockbox Bank on a daily basis into the Joint Concentration Account and immediately subsequent thereto, the Advance Payment Amounts and the Daily Amount shall be swept into Assignee Concentration Account.
Any Assignee Concentration Account shall be held solely for the benefit of Assignee, but shall be subject to the terms and conditions of this Agreement, the Security Agreement, the Ortec Security Agreement, the Management Agreement and the other Transaction Documents.