Examples of Borrower Collection Account in a sentence
On each Distribution Date, to the extent not waived, the Servicer shall be entitled to receive out of the Borrower Collection Account the Servicing Fee for the related Accrual Period pursuant to Section 8.3(a).
Such Loan Party acknowledges that (i) all Obligors (and related agents) have been directed to make all payments directly to the Borrower Collection Account and (ii) all Collections received by it or its Affiliates with respect to the Collateral pledged hereunder are held and shall be held in trust for the benefit of the Collateral Agent, on behalf of the Secured Parties until deposited into the applicable Collection Account in accordance with Section 10.10.
To the extent that any Collections are received directly by any Loan Party, the Equityholder, the Servicer or any of their respective Affiliates, such Person shall transfer, or cause to be transferred, all Collections to the Borrower Collection Account or the Unfunded Exposure Account, as applicable, by the close of business on the second Business Day following the date such Collections are received by such Loan Party, the Equityholder, the Servicer or any of their respective Affiliates.