Canadian Payment Account definition

Canadian Payment Account means the Canadian Dollar account and the U.S. Dollar account maintained by the Administrative Agent to which all monies from time to time deposited to a Canadian Dominion Account constituting proceeds of Canadian Collateral considered in calculating the Canadian Borrowing Base are forwarded.
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Canadian Payment Account means a US Dollar account of Canadian Lender at the Royal Bank of Canada for US Dollars agreed to by Revolving Administrative Agent and Parent and a Canadian Dollar account of Canadian Lender at the Royal Bank of Canada for Canadian Dollars agreed to by Revolving Administrative Agent and Parent or such other account of Canadian Lender as Revolving Administrative Agent may from time to time designate to Parent as the Canadian Payment Account for purposes of this Agreement and the other Financing Agreements.
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Canadian Payment Account means account no. 0000-00-0000000 of Agent at Canadian Reference Bank or such other account as Agent may from time to time designate to Administrative Borrower as the Canadian Payment Account.
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Examples of Canadian Payment Account in a sentence

  • Upon the occurrence and during the continuation of a Cash Dominion Event or an Event of Default, all monies properly deposited in the U.S. Payment Account shall be deemed to be voluntary prepayments of U.S. Obligations and applied to reduce outstanding Obligations and all monies properly deposited in the Canadian Payment Account shall be deemed to be voluntary prepayments of Canadian Obligations and applied to reduce outstanding Canadian Obligations.

  • Such payments in respect of the Obligations and cash collateral shall be remitted by wire transfer in Federal funds to the US Payment Account and/or Canadian Payment Account (as applicable) or such other bank account of Agent, as Agent may, in its discretion, designate in writing to Administrative Borrower for such purpose.

  • Upon the occurrence and during the continuation of a Cash Dominion Event, all monies properly deposited in the U.S. Payment Account shall be deemed to be voluntary prepayments of U.S. Revolver Loans and applied in accordance with Section 5.6 to reduce outstanding U.S. Revolver Loans and all monies properly deposited in the Canadian Payment Account shall be deemed to be voluntary prepayments of Canadian Revolver Loans and applied in accordance with Section 5.6 to reduce outstanding Canadian Revolver Loans.

  • Interest shall be due until and including the next Business Day, if the amounts so paid by Borrowers to the US Payment Account and/or Canadian Payment Account (as applicable) or other bank account designated by Agent are received in such bank account later than 12:00 noon.

  • Upon the occurrence and during the continuation of a Cash Dominion Event, all monies properly deposited in the U.S: Payment Account shall be deemed to be voluntary prepayments of U.S. Revolver Loans and applied in accordance with Section 5.6 to reduce outstanding U.S. Revolver Loans and all monies properly deposited in the Canadian Payment Account shall be deemed to be voluntary prepayments of Canadian Revolver Loans and applied in accordance with Section 5.6 to reduce outstanding Canadian Revolver Loans.

  • Upon the occurrence and during the continuation of a Liquidity Period, all monies properly deposited in the U.S. Payment Account and the Canadian Payment Account shall be deemed to be voluntary prepayments of Revolving Loans and applied in accordance with Section 2.09 to reduce outstanding Revolving Loans.

  • All payments made to the Canadian Payment Account shall be held by Agent or Agent's affiliates as cash collateral to secure the Obligations and shall, at Agent's election, be transferred to the US Payment Account for application to the Obligations.

  • Each depository bank at which a Depository Account is maintained shall further agree to wire, or otherwise transfer, in immediately available funds, on a daily basis, all funds received or deposited into the Depository Account and such other accounts to the Concentration Account (or to the Canadian Payment Account in the case of Depository Accounts and other accounts maintained at any financial institution's branch in Canada) upon its receipt of notice from the Agent of the existence of a Trigger Event.

  • Upon the occurrence and during the continuation of a Cash Dominion Event or an Event of Default, all monies properly deposited in the U.S. Payment Account shall be deemed to be voluntary prepayments of U.S. Obligations and applied to reduce 133 outstanding Obligations and all monies properly deposited in the Canadian Payment Account shall be deemed to be voluntary prepayments of Canadian Obligations and applied to reduce outstanding Canadian Obligations.


More Definitions of Canadian Payment Account

Canadian Payment Account means Agent’s account at Bank of America Canada set forth on Schedule 1.1(g), or such other account of Bank of America Canada as Agent may from time to time designate to the Administrative Borrower as the Canadian Payment Account for purposes of this Agreement and the other Loan Documents.
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Canadian Payment Account shall have the meaning assigned to such term in Section 5.14(a).
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Canadian Payment Account means US Dollar account no. 00002-4635-886 of Canadian Lender at Bank of Montreal for US Dollars and Canadian Dollar account no. 00002-1258-246 of Canadian Lender at Bank of
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Canadian Payment Account means US Dollar account no. 00000-0000-000 of Canadian Lender at Bank of Montreal for US Dollars and Canadian Dollar account no. 00000-0000-000 of Canadian Lender at Bank of Montreal for Canadian Dollars or such other account of Canadian Lender as Agent may from time to time designate to Parent as the Canadian Payment Account for purposes of this Agreement and the other Financing Agreements.
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Canadian Payment Account means account no. 0000000 (transit no. 10202) for Canadian Dollars of Xxxxx Fargo Capital Finance Corporation Canada at TD Canada Trust and account no. 0000000 (transit no. 10202) for US Dollars of Xxxxx Fargo Capital Finance Corporation Canada at TD Canada Trust or such other account of Xxxxx Fargo Capital Finance Corporation Canada or Agent as Agent may from time to time designate to Administrative Borrower as the Canadian Payment Account for purposes of this Agreement and the other Financing Agreements.
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Canadian Payment Account means the account of Xxxxx Fargo Canada set forth on Schedule 2.3 or such other account of Xxxxx Fargo Canada, if any, which Agent may designate by notice to Administrative Borrower and to each Lender to be the Canadian Payment Account.
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Related to Canadian Payment Account

  • 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.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

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

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

  • L/C Cash Deposit Account means an interest bearing cash deposit account to be established and maintained by the Agent, over which the Agent shall have sole dominion and control, upon terms as may be satisfactory to the Agent.

  • Controlled Disbursement Account means any account of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • 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.

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.

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

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Current Account means a form of demand deposit wherefrom withdrawals are allowed any number of times depending upon the balance in the account or up to a particular agreed amount and will also include other deposit accounts which are neither Savings Deposit nor Term Deposit.

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06 in the name of the Trustee for the benefit of the Certificateholders and designated "U.S. Bank National Association, in trust for registered holders of CSFB Mortgage Pass-Through Certificates, CSFB ABS Trust Series 2001-HE12" Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Collateral Account is any Deposit Account, Securities Account, or Commodity Account.

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

  • Investment Account As defined in Section 3.12(a).

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Collateral Deposit Account shall have the meaning set forth in Section 7.1(a).

  • Concentration Account has the meaning provided in Section 6.13(c).

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.