Customer Collections Account Administration Agreement definition

Customer Collections Account Administration Agreement means the Customer Collections Account Administration Agreement, dated as of November 12, 2003, among, inter alios, the Trinity Industries Leasing Company, Trinity Rail Leasing III, L.P., TRIP Rail Leasing LLC, the TRL-III Transaction Investors identified on the signature pages thereto, Credit Suisse, New York Branch, Wilmington Trust Company, and the Borrower, as amended and/or supplemented from time to time.

Customer Collections Account Administration Agreement means the Customer Collections Account Administration Agreement, dated as of November 12, 2003, among, inter alios, the Trinity Industries Leasing Company, Trinity Rail Leasing III, L.P., TRIP Rail Leasing LLC, the TRL-III Transaction Investors identified on the signature pages thereto, Credit Suisse AG, New York Branch, Wilmington Trust Company, and the Borrower, as amended and/or supplemented from time to time. “Customer Collections Account Administration Agreement Severance” has the meaning set forth in Section 9.02(f). “Customer Payments Accounts” means the Customer Payments Account referred to and defined in the Customer Collections Account Administration Agreement. “Daily Simple SOFR” means, for any day, SOFR, with conventions (including, without limitation, a lookback) established by the Agent in its reasonable discretion in accordance with the conventions for this rate selected or recommended by the Relevant Governmental Body for determining “Daily Simple SOFR” for business loans; provided that, if the Agent determines that any such convention is not administratively, operationally, or technically feasible for the Agent, then the Agent may establish another convention in its reasonable discretion. “Debt” of any Person means at any date, without duplication, (i) all obligations of such Person for borrowed money, (ii) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (iii) all obligations of such Person under conditional sale or other title retention agreements relating to property purchased by such Person to the extent of the value of such property (other than customary reservations or retentions of title under agreements with suppliers entered into in the ordinary course of business), (iv) all obligations of such Person to pay the deferred purchase price of property or services (other than current accounts payable arising in the ordinary course of business), (v) the capitalized amount of all Capital Leases of such Person that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, (vi) all obligations (other than obligations in respect of like kind exchanges) of such Person in respect of securities repurchase agreements or otherwise to purchase securities or other property which arise out of or in connection with the sale of the same 747656567 17557858 16 Fifth Amended and Restated Warehouse Loan Agreement

Customer Collections Account Administration Agreement means the Customer Collections Account Administration Agreement, dated as of November 12, 2003, among the Manager, the Borrower, the Agent, Trinity Rail Leasing III, L.P., a Texas limited partnership, the TRL-III Transaction Investors identified on the signature pages thereto, WTC, as the Transaction Debt Representative (as defined therein), as the TRL-III Indenture Trustee (as defined therein), as the TRL-III Collateral Agent (as defined therein), as a beneficiary thereunder and as the Account Collateral Agent (as defined therein)."

Examples of Customer Collections Account Administration Agreement in a sentence

• Within three (3) Business Days after receiving direction from the Required Lenders, each of the Agent and the Borrower (acting at the direction of the Agent) shall sever itself as a “Beneficiary” under the Customer Collections Account Administration Agreement (the “Customer Collections Account Administration Agreement Severance”) in accordance with Section 11(c) thereof and deliver the Payment Notice/Lessor Rights Notice to any and all Lessees with respect to any and all of the Portfolio Leases.

• The Borrower also shall notify and instruct each Lessee that all payments due or to become due under each Portfolio Lease (except for Excepted Payments (which shall be payable to the Persons for whose benefit any such payment is made)) or otherwise in respect of amounts and other receivables of the Borrower are to be made directly to the Customer Payments Account (or, after the occurrence of the Customer Collections Account Administration Agreement Severance, the Collection Account).

• The Agent shall have received a supplement to the Customer Collections Account Administration Agreement, duly executed by TILC, the Collateral Agent, the Agent, and the Delaware Trustee of the Customer Collections Account Administration Agreement, and certified by a Responsible Officer of the Delaware Trustee as a true and correct copy thereof.

• The Manager hereby agrees to allocate all Cash Flow from the Customer Payments Account to the Collections Account on a daily basis, and shall provide written notice thereof (which notice may be made by facsimile or electronic mail) to the Agent [on a daily basis], in each case in accordance with the Customer Collections Account Administration Agreement.

• Clause (i) of Section 2.01 of the Depository Agreement is hereby amended by inserting the parenthetical "(or, after the occurrence of the Customer Collections Account Administration Agreement Severance (or otherwise at the direction of the Agent (as directed by the Required Lenders)), the Collection Account)" immediately after the words "Customer Payments Account" contained therein.

More Definitions of Customer Collections Account Administration Agreement

Customer Collections Account Administration Agreement means the Customer Collections Account Administration Agreement, dated as of November 12, 2003, among, inter alios, TILC, Wilmington Trust Company and the Borrower, as amended and/or supplemented from time to time.