Lender Concentration Account definition

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.
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Lender Concentration Account shall have the meaning set forth in Section 2(d).
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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.

  • 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.

  • 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.

  • 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.

  • 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.

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

  • 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.