Local Collection Accounts definition

Local Collection Accounts means the following bank accounts established with the Local Collection Account Bank for the purpose of receiving Turkish Lira denominated payments due to each of the following Borrowers and their Subsidiaries under their respective Eligible Contracts:
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Local Collection Accounts. The accounts designated as the Local Collection Accounts in, and which are established and maintained pursuant to, Section 4.2(a), for the deposit of collections with respect to receivables serviced by the Servicer, including the Receivables.
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Local Collection Accounts. The segregated accounts maintained on behalf of the Trust by the Local Banks pursuant to SECTION 4.2(D). [___________]: [________________], or any successor thereto.
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Examples of Local Collection Accounts in a sentence

  • Shah opted not to draw any remuneration by way of monthly salary.Mr. Alok P.

  • Effective upon notice to the Company after the occurrence and during the continuance of an Event of Default, each Collateral Proceeds Account and each Deposit Account (other than Excluded Operating Accounts and Local Collection Accounts) will, without further action on the part of any Grantor or the Collateral Agent, convert into a closed lockbox account under the sole dominion and control of the Collateral Agent in which all funds are held subject to the rights of the Collateral Agent hereunder.

  • The Company shall ensure that the aggregate amount contained in all Local Collection Accounts taken together shall not at any time exceed a maximum amount determined by the Administrative Agent in its sole discretion (not to be exercised unreasonably).

  • The Local Collection Accounts, any deposit account opened from time to time with the Local Collection Account Bank pursuant to this Agreement and the other deposit accounts set forth in Item 6.22 of the Disclosure Schedule and identified as accounts maintained in Turkey are the only deposit accounts of any Borrower maintained in Turkey.

  • The Servicer shall remit directly to the Local Collection Accounts without deposit into any intervening account all payments by or on behalf of the Obligors on the Receivables and all Liquidation Proceeds received by the Servicer, in each case, as soon as practicable, but in no event later than the Business Day after receipt thereof.

  • All amounts received upon liquidation of a Financed Vehicle shall be remitted directly by the Servicer to the Local Collection Accounts without deposit into any intervening account as soon as practicable, but in no event later than the Business Day after receipt thereof.

  • On the Closing Date, the Trustee shall provide notice of the location of the Trust Accounts and the Local Collection Accounts (as well as prompt notice thereafter of any changes) to the Security Insurer.

  • The Servicer shall cause the Indenture Trustee to sweep any amounts deposited to any Local Collection Account, on or with respect to the Receivables into the Collection Account as promptly as possible, but in no event later than the second Business Day following receipt thereof in the Local Collection Accounts.

  • Each Grantor agrees that it shall have no Deposit Accounts other than (a) Deposit Accounts in the Lockbox System, (b) Excluded Operating Accounts and (c) Local Collection Accounts.

  • Each ABL Facilities Grantor agrees that it shall have no Deposit Accounts other than (a) Deposit Accounts in the Lockbox System, (b) Excluded Operating Accounts and (c) Local Collection Accounts, except during the period of 45 days following the Effective Date as contemplated by the next sentence.

Related to Local Collection Accounts

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

  • 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.

  • 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.

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Final Collection Date means the Business Day following the termination of purchases under this Agreement on which all amounts to which the Purchasers shall be entitled in respect of Purchased Receivables and all other amounts owing to the Administrative Agent and the Purchasers hereunder and under the other Purchase Documents are paid in full.

  • Principal Collection Subaccount The meaning specified in Section 10.2(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.

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

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

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

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

  • Principal Collections means Collections of Principal Receivables.

  • Collection Account Bank means any of the banks or other financial institutions holding one or more Collection Accounts.

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

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

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

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

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

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

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

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;