Canadian Collection Account definition

Canadian Collection Account means each account established at a Canadian Collection Bank and subject to a Cash Management Control Agreement into which funds shall be transferred as provided in Section 5.03(b).

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Canadian Collection Account means a “Collection Account” as defined in the Canadian Security Agreement.

Canadian Collection Account means any account set forth on Schedule 5 (Facility Accounts and Account Banks) hereto under the heading “Canadian Collection Accounts”, as such Schedule may be amended from time to time in accordance herewith.

Examples of Canadian Collection Account in a sentence

The Borrower shall not at any time invest, or permit any investment of, the funds deposited in the Canadian Collection Account or the U.S. Collection Account.
Upon the occurrence and during the continuation of any Canadian Cash Transfer Event, the Borrower shall cause all amounts on deposit in the Canadian Collection Account to be transferred to the U.S. Collection Account on each Business Day during such Canadian Cash Transfer Event.
The Canadian Collection Account shall be established and maintained under a Canadian Collection Account Control Agreement with the Canadian Collection Account Bank.
The Borrower shall not close or agree to close the Canadian Collection Account or the U.S. Collection Account without the prior written consent of the Administrative Agent and the Required Lenders.
If for any reason the Borrower or the Servicer or any of the Servicer’s Affiliates receives any Collections, the Borrower or the Servicer or such Servicer’s Affiliate, as applicable, shall deposit such Collections directly into the Canadian Collection Account or U.S. Collection Account, as applicable, within two (2) Business Days following the receipt thereof.

More Definitions of Canadian Collection Account

Canadian Collection Account means the account established at the Canadian Collection Account Bank in the name of the Borrower, which account has been designated as the Canadian Collection Account and which shall at all times be the subject of a Canadian Collection Account Control Agreement.

Canadian Collection Account shall have the meaning provided in Section 8.15(c)(iii).

Canadian Collection Account means each account identified as a “Canadian Account” on Schedule II to this Agreement (as such schedule may be modified from time to time in connection with the closing or opening of any Lock-Box Account in accordance with the terms hereof) (in each case, in the name of the Canadian Guarantor) and maintained at a bank or other financial institution that is, except as contemplated by Section 13.20, acting as a Lock-Box Bank pursuant to a Lock-Box Agreement for the purpose of receiving Collections.

Canadian Collection Account means that certain Canadian Dollar account of Canadian Collateral Agent, account number 1011519 or US Dollar account of Canadian Collateral Agent, account ▇▇▇▇▇▇ 4002739, with the account name GECCI_COMM_FIN at Royal Bank of Can▇▇▇ ▇▇ Toronto, Ontario, transit number 00002, or such other account as m▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇ in writing by Can▇▇▇▇▇ Collateral Agent as the "Canadian Collection Account".

Canadian Collection Account means collectively, account number ▇▇▇▇▇▇▇▇ entitled “Canadian Co-Issuer Canadian Collection Account for Canadian Collections” for the holding of Canadian Collections (including any Canadian Allocation and Shortfall Payment Amount that will not be settled in U.S. Dollars) and an account to be established entitled “Canadian Co-Issuer Collection Account for the U.S. Shortfall Payment Amount” for the holding of any U.S. Shortfall Payment Amount, each maintained by the Trustee pursuant to Section 5.5 of the Base Indenture or any successor securities account maintained pursuant to Section 5.5 of the Base Indenture.

Canadian Collection Account means the account at Barclays (or another commercial bank in the name of the Administrative Agent and under the sole dominion and control of the Administrative Agent, and otherwise established in a manner reasonably satisfactory to the Administrative Agent), so designated by the Administrative Agent, in a written notice delivered to the Borrower Representative, to be the “Canadian Collection Account,” to which funds on deposit in Deposit Accounts (other than Excluded Accounts) maintained by the Canadian Loan Parties with the Canadian Cash Management Bank and all collections and other payments received in respect of the Accounts of the Canadian Loan Parties by the Canadian Cash Management Bank shall be remitted at all times during a Cash Dominion Period.

Canadian Collection Account has the meaning assigned to the term “Cash Management Account” in the Foreign Collateral Documents.