Collection Lockbox definition

Collection Lockbox as defined in Section 5.17(a).
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Collection Lockbox has the meaning assigned to such term in Section 5.19(a).
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Collection Lockbox is defined in Section 6.2.5.
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Examples of Collection Lockbox in a sentence

  • Borrower shall execute with the Lockbox Bank a lockbox agreement for the Account Debtor Collection Lockbox Account in form and substance acceptable to Lender, and such other agreements related to such lockbox agreement as Lender may require.

  • Borrower shall ensure that all collections of Accounts on which Account Debtors of Acquisition Subsidiary are obligated are paid directly into the Lockbox for deposit into the Acquisition Subsidiary Account Debtor Collection Lockbox Account, and that all funds deposited into the Acquisition Subsidiary Account Debtor Collection Lockbox Account are immediately transferred into the Concentration Account described in Section 8 of the Revolving Loan Agreement.

  • All cash proceeds of Net Revenues Receivable received in the Collection Lockbox will be transferred daily to, and only to, the Borrower's Concentration Account.

  • Borrower shall ensure that all collections of Accounts on which Account Debtors of CRDE are obligated are paid directly into the Lockbox for deposit into the CRDE Account Debtor Collection Lockbox Account, and that all funds deposited into the CRDE Account Debtor Collection Lockbox Account are immediately transferred into the Concentration Account described in Section 8 of the Revolving Loan Agreement.

  • Borrower shall ensure that all collections of Accounts on which Account Debtors are obligated are paid directly into the Lockbox for deposit into the Account Debtor Collection Lockbox Account, and that all funds deposited into the Account Debtor Collection Lockbox Account are immediately transferred into a depository account owned by the Lender (the “Concentration Account”).

  • Borrower shall ensure that all collections of Accounts on which Account Debtors are obligated are paid directly into the Lockbox for deposit into the Account Debtor Collection Lockbox Account, and that all funds deposited into the Account Debtor Collection Lockbox Account are immediately transferred into a depository account owned by the Lender (the "CONCENTRATION ACCOUNT").

  • Borrower shall ensure that all collections of Accounts on which Account Debtors are obligated are paid directly into the Lockbox for deposit into the Account Debtor Collection Lockbox Account, and that all funds deposited into the Account Debtor Collection Lockbox Account are immediately transferred into a depository account owned by the Lender (the "Concentration Account").

  • Communication is not only achieved through speaking, but it can also be obtained through writing.

  • Borrower shall execute with the Lockbox Bank a lockbox agreement for the Acquisition Subsidiary Account Debtor Collection Lockbox Account in form and substance acceptable to Lender, and such other agreements related to such lockbox agreement as Lender may require.


More Definitions of Collection Lockbox

Collection Lockbox as defined in Section 5.17(a). “Commitment” means a Revolving Commitment. “Commitment Letter” means the Commitment Letter dated June 5, 2018, among Fifth Third, PNC Bank, PNC Capital Markets LLC and Merger Sub. “Commodity Exchange Act” means the Commodity Exchange Act (7 USC. § 1 et seq.), as amended from time to time, and any successor statute. DMFIRM #406105327 v12 21
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Related to Collection Lockbox

  • 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.

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

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Lockbox Accounts means the accounts maintained by Borrower at the Lockbox Banks into which all collections or payments on their Accounts and other Collateral are paid.

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

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

  • 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.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Lockbox has the meaning set forth in Section 2.11.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

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

  • 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.

  • 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.

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

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Collection Bank means, at any time, any of the banks holding one or more Collection Accounts.

  • Subservicing Account An account established by a Subservicer in accordance with Section 3.08.

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

  • Billing Account is the checking account from which all Service fees will be automatically debited.

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

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

  • Custodial P&I Account The Custodial P&I Account, as defined in each of the Servicing Agreements, with respect to the Mortgage Loans. In determining whether the Custodial P&I Account under any Servicing Agreement is "acceptable" to the Master Servicer (as may be required by the definition of "Eligible Account" contained in the Servicing Agreements), the Master Servicer shall require that any such account shall be acceptable to each of the Rating Agencies. Custodian: Initially, the Trustee, and thereafter the Custodian, if any, hereafter appointed by the Trustee pursuant to Section 8.13, or its successor in interest under the Custodial Agreement. The Custodian may (but need not) be the Trustee or any Person directly or indirectly controlling or controlled by or under common control of the Trustee. Neither a Servicer, nor the Seller nor the Master Servicer nor any Person directly or indirectly controlling or controlled by or under common control with any such Person may be appointed Custodian.