Manager Collection Account definition

Manager Collection Account means any of the bank accounts titled as such that have been established and maintained by the Manager into which account all Gross Revenue, Miscellaneous Owner Proceeds, Casualty Proceeds, Finance Lease Payments and Sales Proceeds, in each case for the Managed Containers, are deposited and from which all Operating Expenses for the Managed Containers are paid.
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Manager Collection Account. An account established and maintained pursuant to the Intercreditor Agreement with a bank satisfactory to the Requisite Global Majority and the Rating Agencies, into which the Manager will direct (i) all payments from Lessees, (ii) all Sale Proceeds, (iii) all Casualty Proceeds and (iv) all other proceeds and Gross Revenues related to the Containers including Miscellaneous Issuer Proceeds and Indemnification Proceeds.
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Manager Collection Account. The term shall have the meaning as set forth in the Intercreditor Agreement.
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Examples of Manager Collection Account in a sentence

  • All amounts held by the Manager in the [Manager Collection Account] which are the property of the Issuer shall be held in trust for the benefit of the Issuer, and the Issuer and its owners shall be treated as owners of such amounts for U.S. tax and other purposes.

  • The Manager Collection Account is subject to a control agreement which has perfected the security interest of the Collateral Agent therein on Gross Revenues for the benefit of the Indenture Trustee as the named party thereunder.

  • The Issuer may not make such optional Prepayment from funds in the Trust Account, the Series 2006-1 Series Account, the Restricted Cash Account, the Manager Collection Account, or the Manager Transition Account, except to the extent that funds in any such account would otherwise be payable to the Issuer in accordance with the terms of this Supplement.

  • The Borrower shall cause any Gross Revenue not deposited into a Manager Collection Account, including any such amounts received by the Manager, the Seller or any of their Affiliates, to be deposited into the Trust Account within three (3) Business Days after receipt of such payment.

  • The Management Fee shall be payable from amounts on deposit in the Manager Collection Account.

  • The Borrower shall cause any Gross Revenue and other amounts related to the Collateral not deposited into a Manager Collection Account (as defined in the Management Agreement), including any such amounts received by the Manager, the Seller or any of their Affiliates, to be deposited into the Trust Account within three (3) Business Days after receipt of such payment.

  • The Borrower shall cause any Gross Revenue not deposited (i) during the Transition Period, into the PNC Collection Account and (ii) thereafter, into a Manager Collection Account (as defined in the Management Agreement), including any such amounts received by the Manager, the Seller or any of their Affiliates, to be deposited into the Trust Account within three Business Days after receipt of such payment.

  • The Collateral Agent agrees that it shall not deliver a Shifting Control Notice (as defined in the Manager Collection Account Control Agreement) or otherwise deliver instructions to the Depositary unless directed to do so in writing by a Managed Equipment Lender.

  • Transaction Accounts: Collectively, the Trust Account, the Restricted Cash Account, the Pre-Funding Account, any Series Account, the Manager Transition Account, and the Manager Collection Account.


More Definitions of Manager Collection Account

Manager Collection Account. An account established and maintained with a bank for which the Rating Agency Condition has been satisfied, into which the Manager will direct (i) all payments from Users, (ii) all Sales Proceeds, (iii) all Casualty Proceeds, and (iv) all other proceeds and Gross Revenues related to the Issuer Containers.
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