Borrower Collection Account definition

Borrower Collection Account means any “Collection Account” and related Lockboxes (if any) set forth on Schedule 4.01(q) to the Funding Agreement, established by the Borrower pursuant to Section 6.01(a) of the Funding Agreement and maintained by the Borrower at a Collection Account Bank, which account shall be subject to a Collection Account Agreement.

Borrower Collection Account means the Collection Account established for the benefit of the Borrower (and not a Securitization Subsidiary thereof).

Borrower Collection Account means the account with the Account Bank specified as such in the Borrower Account Pledge.

Examples of Borrower Collection Account in a sentence

• The Account Bank shall have no obligation to invest or reinvest the funds held in the Borrower Collection Account or the Interest Reserve Account (i) if deposited with the Account Bank after 11:00 a.m. (New York City time) on such day of deposit or (ii) in the absence of timely and specific written investment direction from the Borrower (or the Initial Servicer on the Borrower’s behalf) or the Administrative Agent.

• In the event that any funds other than Collections on Pool Receivables are deposited into any Borrower Collection Account, the Borrower (or the Initial Servicer on its behalf) shall within three (3) Business Days of receipt thereof identify such funds transfer such funds to the appropriate Person entitled to such funds.

• None of the Account Bank or the Administrative Agent shall be liable for the amount of any loss incurred, in respect of any investment, or lack of investment, of funds held in the Borrower Collection Account or the Interest Reserve Account.

• Except as permitted under Section 8.02(a), extend, amend or otherwise modify the payment terms of any Pool Receivable or amend, modify or waive any payment term or condition of any related Contract, in each case unless a corresponding Deemed Collection payment in respect of the related Pool Receivable is made, in full to the Borrower Collection Account, in connection therewith.

• Any proceeds of Pool Receivables received by the Borrower, the Servicer or an Originator thereafter shall be sent immediately to a Borrower Collection Account in accordance with the terms of this Agreement.

More Definitions of Borrower Collection Account

Borrower Collection Account has the meaning specified in Section 3(a) hereof.

Borrower Collection Account means a non-interest bearing trust account, initially, Account number 143396-000, maintained with the Account Bank, and thereafter each non-interest bearing trust account in the name of the Borrower at any time designated as a “Borrower Collection Account” by the Administrative Agent in consultation with the Required Lenders.

Borrower Collection Account means the Dollar denominated account No. 165502 USD 2811 01 (and any renewal or redesignation thereof) opened by the Borrower and held in the Borrower’s name with the Offshore Account Bank for the purposes of collecting payments from each Trader under the Assigned Export Contracts and making payments due under this Agreement.

Borrower Collection Account means the account in the name of the Borrower with the Account Bank number 00000000 assigned to the Lender pursuant to the Borrower Collection Account Assignment.

Borrower Collection Account means the account in the name of the Borrower with the Account Bank number 36156914 charged to the Lender pursuant to the Borrower Collection Account Charge.

Borrower Collection Account means the segregated, non-interest bearing securities accounts (within the meaning of Section 8-501 of the UCC), which are created and maintained on the books and records of the Securities Intermediary identified as the collection accounts in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties, which is established and maintained pursuant to Section 8.1(a).

Borrower Collection Account. A Securities Account created and maintained on the books and records of the Collateral Custodian entitled “Borrower Collection Account” in the name of the Borrower and subject to the prior Lien of the Administrative Agent for the benefit of the Secured Parties.