German Accounts definition

German Accounts means the accounts established and maintained in the name of German FleetCo.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

German Accounts means the Lock-Box Accounts identified as “German Accounts” on Schedule II hereto, in each case, so long as such Lock-Box Account is subject to German law.

German Accounts means the accounts specified in Schedule 2 (List of German Bank Accounts).

Examples of German Accounts in a sentence

• The Agent alone shall be authorized to determine whether any Accounts or Inventory constitute Eligible Accounts, Eligible Inventory, Eligible German Accounts and Eligible German Inventory, whether to impose or release any Availability Reserve, or whether any conditions to funding or to issuance of a Letter of Credit have been satisfied, which determinations and judgments, if exercised in good faith, shall exonerate the Agent from liability to any Lender or other Person for any error in judgment.

• It is understood that should the Borrowers fail to provide such additional security, the Agent may institute an Availability Reserve as to the applicable Eligible German Accounts.

• Prior to the Closing Date, the Sellers shall have entered into Lock-Box Agreements (or, with respect to German Accounts, Account Pledge Agreements) covering each Lock-Box Account listed on Schedule II with all of the Lock-Box Banks, and shall have delivered fully executed copies thereof to the Agent.

• The Eligible Accounts purchased by Novelis AG from a Receivables Seller pursuant to the Initial German Receivables Purchase Agreement, including Eligible Large Customer German Accounts and Eligible Small Customer German Accounts purchased pursuant thereto, shall constitute Eligible Swiss Accounts of Novelis AG.

• All Lock-Box Accounts (other than German Accounts and Excluded Accounts) shall be maintained in the name of a Seller.

• Each of the Lock-Box Accounts and Collection Accounts (other than any German Accounts or the German Collection Account) constitute “deposit accounts” within the meaning of the applicable UCC.

• The Pledgor hereby declares pursuant to Section 8 of the German Money Laundering Act (Geldwäschegesetz) that (i) it is the economic owner (wirtschqftlicher Berechtigter) of its German Accounts and that it did not, and still does not, act for the account of third parties in connection with the establishment and the maintenance of the German Accounts, and that (ii) it is the economic owner (wirtschaftlicher Berechtigter) of the Trust Accounts owned by Novelis Deutschland GmbH.

• All Lock-Box Accounts (other than German Accounts) shall be maintained in the name of a Seller.

• German Accounts Delivery Date shall have the meaning as defined in Section 6.4.2.

More Definitions of German Accounts

German Accounts means the accounts established and maintained in the name of German FleetCo. “German Administration Agreement” means the German administration agreement entered into between German FleetCo, the German Administrator and the German Security Trustee dated on or about the Signing Date. “German Administrator” means Hertz Europe Limited in its capacity as the German administrator under the German Administration Agreement. “German Administrator Default” has the meaning specified in Sub-Clause 9.2 (Term of Agreement; Removal of German Administrator) of the German Administration Agreement. 102 CONFIDENTIAL INFORMATION REDACTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. OMITTED PORTIONS INDICATED BY [*REDACTED*]. “German Advance” has the meaning given to “Advance” in clause 2.3(a) of the German Facility Agreement. “German Aggregate Asset Amount” means, as of any date of determination, the amount equal to the sum of each of the following with respect to German FleetCo:

German Accounts means the audited balance sheet of the Germany Company as at the Balance Sheet Date and the audited profit and loss account of the German Company for the year ended on that date a copy of which is contained in the Disclosure Documents;