Lockbox Concentration Account definition

Lockbox Concentration Account has the meaning ascribed to it in the Lockbox Account Agreement.
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Lockbox Concentration Account shall have the meaning assigned to such term in Section 8.4(ii) hereof.
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Examples of Lockbox Concentration Account in a sentence

  • Upon the terms and subject to the conditions set forth in the Lockbox Agreements, all good funds held in each Collection Account shall be wired each Business Day into a separate account for each such Pledgor (each, a "Lockbox Concentration Account") maintained by the Collateral Agent.

  • The Lockbox Concentration Account collects funds from the Lockbox Accounts and transfers funds into the Master Concentration Account.

  • If any Pledgor receives directly any remittance or payments notwithstanding the arrangements for payments directly into Collection Accounts (as provided for in the Lockbox Agreements), such Pledgor shall hold such remittance and payments in trust for the Collateral Agent, and shall deposit such amounts into its respective Lockbox Concentration Account within one Business Day after such Pledgor's receipt thereof.

  • The overwhelming majority of cash receipts, except those received from the CCM Account via the CCM Lockbox Account, are received through the Lockbox Accounts, from which funds are automatically swept into the Lockbox Concentration Account, which further transfers funds to the Master Concentration Account.16.

  • Prior to being authorized to operate a motor vehicle in the course of employment, a MVR will be secured on each employee required to drive on public roadways for the purpose of completing their job responsibilities.

  • The Debtors and the lenders (the “ Prepetition Revolving Lenders”) under the Debtors’ prepetition revolving credit facility (the “Prepetition Revolving Facility”) agreed that all cash held at the Lockbox Concentration Account is swept on a daily basis into an account maintained by the agent for the Prepetition Revolving Lenders.

Related to Lockbox 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 Agreement means an agreement substantially in the form of Exhibit VI among Originator, Seller, the Agent and a Collection Bank.

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

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

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

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

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

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

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Collection Account Control Agreement means that certain Collection Account Control Agreement, to be entered into by and among the Borrower, the Lender and Bank, with respect to the Collection Account, in form and substance acceptable to the Lender and the Borrower, as the same may be amended, modified or supplemented from time to time.

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

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

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

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Dominion Account shall have the meaning assigned to such term in Section 5.11(b).

  • Collateral Account Agreement means the Collateral Account Agreement executed and delivered by Company and Administrative Agent on the Closing Date, substantially in the form of EXHIBIT XXIII annexed hereto, as such Collateral Account Agreement may hereafter be amended, supplemented or otherwise modified from time to time.

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

  • Lock-Box Account With respect to any Mortgaged Property, if applicable, any account created pursuant to any documents relating to a Mortgage Loan or Serviced Loan Combination to receive rental or other income generated by the Mortgaged Property. Any Lock-Box Account shall be beneficially owned for federal income tax purposes by the Person who is entitled to receive the reinvestment income or gain thereon in accordance with the terms and provisions of the related Mortgage Loan or Serviced Loan Combination and Section 3.07 of this Agreement, which Person shall be taxed on all reinvestment income or gain thereon.

  • Lockbox Account Agreement means any replacement agreement therefor among the Servicer, the Trust Collateral Agent and the Lockbox Bank.

  • Depository Account includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Financial Institution in the ordinary course of a banking or similar business. A Depository Account also includes an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest thereon.

  • Client Account means the unique personalized account of the Client consisting of all Completed Transactions, Open Positions and Orders on the Platform, the Balance of the Client money and deposit/withdrawal transactions of the Client money. It is understood that the Company may use the term Trading Account or Account on its Website or communications, which shall mean your Client Account.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • 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.