Credit Acceptance Payment Account definition

Credit Acceptance Payment Account. The clearinghouse account number xxxxxx5068 maintained by Credit Acceptance or any Successor Servicer, as applicable, at Comerica Bank, where payments received in respect of all loans and contracts are deposited or paid.

Credit Acceptance Payment Account. The clearinghouse account number xxxxxx5068 maintained by Credit Acceptance at Comerica Bank, where payments received in respect of all loans and contracts are deposited or paid. Credit Agreement: That certain Sixth Amended and Restated Credit Acceptance Corporation Credit Agreement, dated as of June 23, 2014, with Comerica Bank, as administrative agent and collateral agent, Credit Acceptance, as borrower, and the banks signatory thereto, as amended from time to time.

Credit Acceptance Payment Account. The clearinghouse account number xxxxxx5068 maintained by Credit Acceptance at Comerica Bank, where payments received in respect of all loans and contracts are deposited or paid. Credit Agreement: The Fourth Amended and Restated Credit Agreement, dated as of February 7, 2006 among Credit Acceptance, Comerica Bank, as Administrative Agent and Collateral Agent and the banks signatory thereto, as amended by the First Amendment to Fourth Amended and Restated Loan Agreement dated September 20, 2006, the Second Amendment to Fourth Amended and Restated Loan Agreement dated January 19, 2007, the Third Amendment to Fourth Amended and Restated Loan Agreement dated June 14, 2007, the Fourth Amendment to Fourth Amended and Restated Loan Agreement dated January 25, 2008, the Fifth Amendment to Amended and Restated Loan Agreement dated as of July 31, 2008, the Sixth Amendment to Amended and Restated Loan Agreement dated as of December 9, 2008, and the Seventh Amendment to Amended and Restated Loan Agreement dated as of June 15, 2009; provided, however, to the extent the Credit Agreement is amended or terminated after the Effective Date, references to the Credit Agreement shall refer to the Credit Agreement on the Effective Date unless otherwise consented to by the Deal Agent.

Examples of Credit Acceptance Payment Account in a sentence

• The Servicer shall transfer, or cause to be transferred, all Collections on deposit in the form of available funds in the Credit Acceptance Payment Account to the Collection Account by the close of business on the second Business Day after such Collections are received therein.

• The Servicer will be required to pay all reasonable fees and expenses owing to any bank or trust company in connection with the maintenance of the Collection Account, the Reserve Account and the Credit Acceptance Payment Account.

• The Servicer shall transfer, or cause to be transferred, all Collections on deposit in the form of available funds in the Credit Acceptance Payment Account to the Collection Account by the close of business on the second Business Day such Collections are received therein.

• The initial Servicer will be required to pay all reasonable fees and expenses owing to any bank or trust company in connection with the maintenance of the Collection Account, the Principal Collection Account, the Reserve Account and the Credit Acceptance Payment Account.

• The initial Servicer will be required to pay all reasonable fees and expenses owing to any bank or trust company in connection with the maintenance of the Collection Account, the Reserve Account and the Credit Acceptance Payment Account.

• The Borrower will be required to pay all reasonable fees and expenses owing to any bank or trust company in connection with the maintenance of the Collection Account, the Reserve Account and the Credit Acceptance Payment Account.

• The Servicer shall transfer, or cause to be transferred, all Collections on deposit in the form of available funds in the Credit Acceptance Payment Account to the Collection Account by the close of business on the second (2nd) Business Day after such Collections are received therein.

• Credit Acceptance will be required to pay all reasonable fees and expenses owing to any bank or trust company in connection with the maintenance of the Collection Account, the Reserve Account and the Credit Acceptance Payment Account.

• The initial Servicer will be required to pay all reasonable fees and expenses owing to any bank or trust company in connection with the maintenance of the Collection Account, the 91 Reserve Account and the Credit Acceptance Payment Account.

More Definitions of Credit Acceptance Payment Account

Credit Acceptance Payment Account. The clearinghouse account number xxxxxx5068 maintained by Credit Acceptance at Comerica Bank, where payments received in respect of all loans and contracts are deposited or paid. Credit Agreement: That certain Sixth Amended and Restated Credit Acceptance Corporation Credit Agreement, dated as of June 23, 2014, with Comerica Bank, as administrative agent and collateral agent, Credit Acceptance as borrower, and the banks signatory thereto, as amended from time to time; provided, however, to the extent the Credit Agreement is amended or terminated after June 23, 2016, references to the Credit Agreement shall refer to the Credit Agreement effective on June 23, 2016 unless otherwise consented to by the Deal Agent, which consent shall not be unreasonably withheld, delayed or conditioned.

Credit Acceptance Payment Account. The clearinghouse account number xxxxxx5068 maintained by Credit Acceptance at Comerica Bank, where payments received in respect of all loans and contracts are deposited or paid. Credit Agreement: That certain Sixth Amended and Restated Credit Acceptance Corporation Credit Agreement, dated as of June 23, 2014, with Comerica Bank, as administrative agent and collateral agent, Credit Acceptance, as borrower, and the banks signatory thereto, as amended and in effect on the Closing Date. Any references herein to the Credit Agreement shall be to the Credit Agreement as in effect on the Closing Date unless otherwise consented to by the Deal Agent (acting at the direction, or with the consent, of the Required Lenders).

Credit Acceptance Payment Account. The clearinghouse account number xxxxxx5068 maintained by Credit Acceptance at Comerica Bank, where payments received in respect of all loans and contracts are deposited or paid. Credit Agreement: The Fourth Amended and Restated Credit Agreement, dated as of February 7, 2006 among Credit Acceptance, Comerica Bank, as Administrative Agent and Collateral Agent and the banks signatory thereto, as amended by the First Amendment to Fourth Amended and Restated Loan Agreement dated September 20, 2006, the Second Amendment to Fourth Amended and Restated Loan Agreement dated January 19, 2007, the Third Amendment to Fourth Amended and Restated Loan Agreement dated June 14, 2007, the Fourth Amendment to Fourth Amended and Restated Loan Agreement dated January 25, 2008, the Fifth Amendment to Amended and Restated Loan Agreement dated as of July 31, 2008, the Sixth Amendment to Amended and Restated Loan Agreement dated as of December 9, 2008, the Seventh Amendment to Amended and Restated Loan Agreement dated as of June 15, 2009, the Eighth Amendment to Amended and Restated Loan Agreement dated as of October 20, 2009, the Ninth Amendment to Amended and Restated Loan Agreement dated as of February 1, 2010 and the Tenth Amendment to Amended and Restated Loan Agreement dated as of June 9, 2010; provided, however, to the extent the Credit Agreement is amended or terminated after the Effective Date, references to the Credit Agreement shall refer to the Credit Agreement on the Effective Date unless otherwise consented to by the Deal Agent.

Credit Acceptance Payment Account. The clearinghouse account number xxxxxx5068 maintained by Credit Acceptance at Comerica Bank, or if the Backup Servicer has become the Successor Servicer or a Successor Servicer has been appointed hereunder, such other account specified by the Deal Agent, where payments received in respect of all loans and contracts are deposited or paid. Credit Agreement: That certain Sixth Amended and Restated Credit Acceptance Corporation Credit Agreement, dated as of June 23, 2014, with Comerica Bank, as administrative agent and collateral agent, Credit Acceptance, as borrower, and the banks signatory, as amended, supplemented or otherwise modified from time to time.