Local Bank Account definition

Local Bank Account shall have the meaning specified in Section 7.01(d).

Local Bank Account means a bank account established and maintained by the Servicer at the Local Bank for the benefit of the Secured Parties pursuant to the Intercreditor Agreement and the Intercreditor Party Supplement.

Local Bank Account has the meaning set forth in the Sale and Servicing Agreement.

Examples of Local Bank Account in a sentence

• The Local Bank Account is a “deposit account” (under and as defined in the relevant UCC) and the Collection Account is a “securities account” (under and as defined in the relevant UCC).

• None of the Post Office Boxes, the Local Bank Account nor any interest therein has been pledged or assigned to any party other than in accordance with the terms of the Intercreditor Agreement and the Intercreditor Party Supplement.

• The Borrower has not granted any Person dominion or control of (i) any Post Office Box or the Local Bank Account other than in accordance with the terms of the Intercreditor Agreement and the Intercreditor Party Supplement or (ii) the Collection Account other than the Administrative Agent.

• The Servicer has not granted any Person dominion or control of (i) any Post Office Box or the Local Bank Account other than in accordance with the terms of the Intercreditor Agreement and the Intercreditor Party Supplement or (ii) the Collection Account other than the Administrative Agent.

• The Servicer shall not create or participate in the creation of, or permit to exist, any Liens with respect to the Post Office Boxes or the Local Bank Account, except as permitted and pursuant to the Intercreditor Agreement and the Intercreditor Party Supplement.

More Definitions of Local Bank Account

Local Bank Account means the account established by the Servicer in the name of the Trustee at the Local Bank, into which account collections with respect to the Contracts and Mortgage Loans will be deposited by the Servicer.

Local Bank Account. As defined in Section 5.15(a).

Local Bank Account. The meaning specified in the Servicing Agreement.

Local Bank Account means the account established in the name of the Indenture Trustee pursuant to Section 3.03 hereof, into which account shall be deposited payments related to the Lease Receivables.

Local Bank Account means Account No. 1511-174-3 established by the Borrower at the office of The First National Bank of Anchorage, 201 West 36th Avenue, P.O. Box 200628, Anchorage, Alaska 99520.

Local Bank Account means Account No. 0000-000-0 established by the Borrower at the office of The First National Bank of Anchorage, 000 Xxxx 00xx Xxxxxx, X.X. Xxx 000000, Xxxxxxxxx, Xxxxxx 00000.

Local Bank Account has the meaning set forth in Section 4.7.