Collateral Deposit Account definition

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

Collateral Deposit Account has the meaning assigned to such term in the Security Agreement.

Collateral Deposit Account shall have the meaning assigned to such term in Section 5.3.

Examples of Collateral Deposit Account in a sentence

• If notwithstanding the foregoing instructions, any Grantor receives any proceeds of any Receivables, such Grantor shall receive such payments as the Administrative Agent’s trustee, and shall immediately deposit all cash, checks or other similar payments related to or constituting payments made in respect of Receivables received by it to a Collateral Deposit Account.

• At no time shall any Grantor remove any item from a Blocked Account, Lockbox or from a Collateral Deposit Account without the Collateral Agent’s prior written consent.

• If notwithstanding the foregoing instructions, any Grantor receives any Proceeds of any Receivables, such Grantor shall receive such payments as the Collateral Agent’s trustee, and shall immediately deposit all cash, checks or other similar payments related to or constituting payments made in respect of Receivables received by it to a Collateral Deposit Account.

• At no time shall any Grantor remove any item from a Lock Box or a Collateral Deposit Account without the Administrative Agent’s prior written consent.

• All funds deposited into any Blocked Account subject to a Blocked Account Agreement, a Lockbox subject to a Lockbox Agreement or a Collateral Deposit Account will be swept on a daily basis into a collection account maintained by Petro with the Collateral Agent (the “Collection Account”).

More Definitions of Collateral Deposit Account

Collateral Deposit Account means each Deposit Account of a Grantor other than an Excluded Account.

Collateral Deposit Account as defined in Section 6.1(a).

Collateral Deposit Account means one or more deposit accounts of Debtor into which all payments relating to a Consumer Loan shall be deposited; which deposit accounts shall be subject to an account control agreement in favor of Lender.

Collateral Deposit Account means, with respect to each Grantor, any lockbox account maintained by such Grantor to which any cash, checks or other similar payments constituting payments made in respect of Accounts and/or proceeds of Inventory are or are to be remitted and all Deposit Accounts maintained by such Grantor into which any such payments are directed to be deposited, as well as any other Deposit Accounts maintained by such Grantor into which any cash, checks or other similar payments constituting payments made in respect of Accounts and/or proceeds of Inventory are or are to be deposited.

Collateral Deposit Account means each of the so designated accounts of the Collateral Accounts, as defined in Section 3.02(a)(i).

Collateral Deposit Account means the interest bearing account opened with Lender in the name of the State of Montana pursuant to Section 4(e) hereof.

Collateral Deposit Account any Deposit Account other than an Excluded Account.