Lender Concentration Account definition

Lender Concentration Account means a segregated account established for the benefit of the Lender and maintained at the Account Bank or such other banking institution as the Lender may specify in its discretion from time to time. The Lender Concentration Account shall be the account into which the funds held in the Blocked Account which are payable to the Lender pursuant to this Agreement are swept in accordance with the terms of this Agreement and the Blocked Account Control Agreement.
Sample 1Sample 2
Lender Concentration Account means a segregated account established for the benefit of the Lender and maintained at the Lockbox Bank pursuant to the terms of the Lockbox Agreement and this Agreement. The Lender Concentration Account shall be the account into which the funds held in the Lockbox Account which are payable to the Lender pursuant to this Agreement are swept in accordance with the terms of this Agreement and the Lockbox Agreement.
Sample 1Sample 2Sample 3
Lender Concentration Account shall have the meaning set forth in Section 2(d).
Sample 1Sample 2Sample 3

Examples of Lender Concentration Account in a sentence

  • The Lender shall have immediate and full access to any funds held in the Lender Concentration Account and such funds shall not be subject to any conditions or restrictions whatsoever.

  • All items of income, gain, expense and loss recognized in the Lender Concentration Account allocable to each Lender shall be reported to the Internal Revenue Service and all state and local taxing authorities under the name and TIN of such Lender.

  • Any transfer of funds from the Lockbox Account to the Lender Concentration Account shall be made by wire transfer or similar method of transfer of immediately available funds, unless otherwise agreed to in writing by Lender.

  • Pursuant to Section 4.02(f) of the Loan Agreement, the Borrower shall make the prepayment notified above by [wire transfer] [Automated Clearing House transfer] to the Lender Concentration Account.

  • Funds in the Blocked Account identified by the Lender as funds not to be swept to the Lender Concentration Account, shall be transferred by the Account Bank to such account as the Borrower shall designate, provided that funds deposited by Borrower pursuant to Section 4.02(c) shall be available for withdrawal by the Account Bank.

  • The amount of such Makewell Payment to the Crdentia Collections Account shall be swept to the Revolver Lender Concentration Account (such Concentration Account as defined in the Revolving Loan Agreement) and applied to the outstanding Revolving Loans of the Revolver Lender, in accordance with the terms of the Revolving Loan Agreement.

  • In the event there are multiple Lenders, the Financial Institution shall distribute Deposit Funds in the Lender Concentration Account on a pro rata basis to the Lenders according to their proportionate interests in the Loan as required by Section 13.01(d) of the Loan Agreement and in accordance with the applicable Register Notice, if any, delivered by Company pursuant to Section 5.06(a) of the Loan Agreement.

  • The Lender Concentration Account shall be held solely for the benefit of the Lender, subject to the terms and conditions of this Agreement.

Related to Lender Concentration Account

  • Concentration Account has the meaning provided in Section 6.13(c).

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

  • Concentration Account Agreement as defined in subsection 4.16(b).

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

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

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

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Finance Charge Account is defined in Section 4.9(a).

  • Note Account As defined in the Indenture.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Borrower Account has the meaning specified in Section 2.11(a)(ii).

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

  • Disbursement Account means, in respect of each Tranche, the bank account set out in the most recent List of Authorised Signatories and Accounts.

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Concentration Account Bank shall have the meaning assigned to such term in Section 9.01(e)(i).

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Principal Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Principal 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.

  • Transaction Account means a cash account established and maintained by Repo Custodian for the Funds to effect repurchase transactions pursuant to the Master Agreement.

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

  • 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.

  • 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.

  • Controlled Disbursement Account means any accounts of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Investment Account As defined in Section 3.12(a).

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

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

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.