Canadian Collection Accounts definition

Canadian Collection Accounts means the Collection Accounts identified on Schedule II as a Collection Account domiciled in Canada to be novated by the applicable Canadian Originator to the Borrower pursuant to Section 7.01(y)(iii).
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Canadian Collection Accounts shall have the meaning provided in Section 8.12(c)(iii).
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Examples of Canadian Collection Accounts in a sentence

  • On and after the First Post-Closing Date, each Canadian Lock-Box and Canadian Collection Account will be or is in the name of the Canadian Guarantor, and the Canadian Guarantor owns and will have or has good and marketable title to the Canadian Collection Accounts free and clear of any Adverse Claim.

  • Each Canadian Credit Party shall instruct all Account Debtors of the Canadian Credit Parties to remit all payments to the "P.O. Boxes" or "Lockbox Addresses" of the depositary banks maintaining Canadian Collection Accounts (or to remit such payments to the applicable depositary bank by electronic settlement) with respect to all Accounts of such Account Debtor, which remittances shall be collected by such depositary banks and deposited in a Canadian Collection Account.

  • Each Canadian Credit Party shall instruct all Account Debtors of the Canadian Credit Parties to remit all payments to the “P.O. Boxes” or “Lockbox Addresses” of the depositary banks maintaining Canadian Collection Accounts (or to remit such payments to the applicable depositary bank by electronic settlement) with respect to all Accounts of such Account Debtor, which remittances shall be collected by such depositary banks and deposited in a Canadian Collection Account.

  • Each Canadian Guarantor, Agent and the banks listed on Schedule 4.15 that maintain deposit accounts of such Loan Party as of the Closing Date or other banks selected by the Company and reasonably acceptable to Agent (the “Canadian Collection Banks”) shall, within the Post Closing Period enter into and thereafter maintain Control Agreements in respect of each of the Canadian Collection Accounts.

  • The Canadian Concentration Accounts pool funds, via daily sweeps, from the Canadian Collection Accounts and Canadian Store Depository Accounts (each as defined below).

  • Each Canadian Lock-Box and Canadian Collection Account will be or is in the name of the Canadian Guarantor, and the Canadian Guarantor owns and will have or has good and marketable title to the Canadian Collection Accounts free and clear of any Adverse Claim.

  • Attached hereto as Schedule 9 is a true and complete list of all Core Canadian Concentration Accounts, Canadian Collection Accounts, Deposit Accounts, securities accounts (as such term is defined in the PPSA) and futures accounts (as such term is defined in the PPSA) in each case other than Excluded Accounts, maintained by each Grantor, including the name of each institution where each such account is held and the name of each entity that holds each account.

  • All amounts held in the Canadian Collection Accounts and Canadian Disbursement Accounts (other than Excluded Accounts) with respect to the Canadian Guarantors shall be transferred by an electronic funds transfer method acceptable to Agent by the close of business on each Business Day to an account with a financial institution selected by the Company, reasonably acceptable to Agent and subject to a Control Agreement (the “Canadian Concentration Account”).

  • The Administrative Agent shall hold and apply funds received into the Canadian Collection Accounts as provided by the terms of Section 7.3.

  • Collateral Agent and Lenders assume no responsibility to any Grantor for any lockbox arrangement, Canadian Collection Accounts, the Core Canadian Concentration Account or the Canadian Dominion Account, including any claim of accord and satisfaction or release with respect to any payment items accepted by any bank.

Related to Canadian Collection Accounts

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

  • Collection Accounts As defined in Section 3.10(a).

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

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

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

  • Final Collection Date means the Business Day following the termination of purchases under this Agreement on which all amounts to which the Purchasers shall be entitled in respect of Purchased Receivables and all other amounts owing to the Administrative Agent and the Purchasers hereunder and under the other Purchase Documents are paid in full.

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

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • Principal Account(s means deposit accounts of the Fund or a Portfolio carried on the books of BBH&Co. as principal in accordance with Section 7 hereof.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Principal Collection Subaccount The meaning specified in Section 10.2(a).

  • Finance Charge Account is defined in Section 4.9(a).

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Reallocated Principal Collections means, for any Transfer Date, Investor Principal Collections applied in accordance with Section 4.6 in an amount not to exceed the Monthly Principal Reallocation Amount for the related Monthly Period.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

  • Unallocated Principal Collections shall have the meaning specified in subsection 4.05(d).

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Collection Account Agreement means each agreement substantially in the form of Exhibit VI, or such other form as may be acceptable to the Agent, among the applicable Originator, a Seller, Collection Bank and the Agent, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.