Debtor Accounts definition
Examples of Debtor Accounts in a sentence
Debtor shall establish and maintain with the Custodian/Paying Agent the Debtor Accounts (excluding the Escrow Accounts, which shall be established and maintained by the Servicer).
The Debtor shall establish and maintain with the Custodian/Paying Agent the Debtor Accounts (excluding the Escrow Accounts, which shall be established and maintained by the Servicer).
Unless otherwise defined herein, the following terms are used herein as defined in the Uniform Commercial Code: Accessions, Account Debtor, Accounts, Certificated Security, Chattel Paper, Commercial Tort Claims, Deposit Accounts, Documents, Electronic Chattel Paper, Equipment, Farm Products, Financial Assets, Fixtures, General Intangibles, Goods, Instruments, Inventory, Letter-of-Credit Rights, Securities Accounts and Supporting Obligations.
The Paying Agent shall maintain all such accounts, books and records as may be necessary to properly record all transactions carried out by it with respect to the Debtor Accounts, including all disbursements therefrom.
The Debtors shall establish and maintain with the Paying Agent (or its Affiliate) the Debtor Accounts pursuant to the terms and conditions of the Custodial and Paying Agency Agreement.
Borrower shall not be required to deposit payments received with respect to COD sales or accounts that are not Debtor Accounts into the Lockbox Account.
The Company shall be responsible for payment to any successor Custodian and/or Paying Agent, as applicable, of all reasonable fees and expenses of the successor Custodian and/or Paying Agent, as applicable, in becoming the Custodian and/or Paying Agent and any fees and expenses for transferring Custodial Documents or funds deposited in the Debtor Accounts to the successor Custodian and/or Paying Agent, as applicable.
The following capitalized terms have the meanings set forth in Article 9 of the UCC: Account Debtor, Accounts, Chattel Paper, Deposit Account, Documents, Electronic Chattel Paper, Instruments, Inventory, Investment Property, Letter-of-credit rights, Payment Intangible, Promissory Note, Record, Securities Account, Supporting Obligation and Tangible Chattel Paper.
Any instruction to the Paying Agent given pursuant to the terms of this Agreement or to the Account Bank under the Account Control Agreement with respect to the transfer, holding, deposit and withdrawal of all funds held in the Debtor Accounts shall be deemed to constitute an instruction to the Account Bank and to the Paying Agent, respectively (even if given to one and not the other).
The definitions of "Account Debtor", "Accounts", "Accounts Receivable Aging Report", "Accounts Receivable Reconciliation Report", "Borrowing Base Certificate", "Eligible Account", "Eligible Inventory" and "Inventory" are hereby deleted in their entirety.