Obligor Account definition

Obligor Account. Defined in Section 5.1(d).
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Obligor Account means any of them.
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Obligor Account means, in respect of each Obligor, each of the accounts listed in Part 2 of Schedule 11 (The Accounts) and any other account of such Obligor from time to time with the Bank or any other branch of Deutsche Bank AG, in each case, including any sub-account and as amended and replaced from time to time;
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Examples of Obligor Account in a sentence

  • Debtor waives any right of marshaling in respect of any and all Collateral, and waives any right to require Secured Party to proceed against any Obligor, Account Debtor or other Person, exhaust any Collateral or enforce any other remedy which Secured Party now has or may hereafter have against any Obligor or other Person.

  • Each Debtor waives any right of marshaling in respect of any and all Collateral, and waives any right to require Secured Party to proceed against any Obligor, Account Debtor or other Person, exhaust any Collateral or enforce any other remedy which Secured Party now has or may hereafter have against any Obligor or other Person.

  • The Seller shall not make any change in its instructions to Obligors regarding payments to be made to any Obligor Account, unless (i) such instructions are to deposit such payments to another existing Obligor Account or (ii) the Administrative Agent shall have given its prior written consent to such change.

  • Debtor waives any right of marshaling in respect of any and all Collateral, and waives any right to require Secured Party to proceed against any Obligor, Account Debtor or other person or entity, exhaust any Collateral or enforce any other remedy which Secured Party now has or may hereafter have against any Obligor or other person or entity.

  • As in the case of any other Obligor Account, the balance on the Income Replacement Account will be applied as and when determined by the Obligor Security Trustee in accordance with the Security Group Post-Enforcement (Post-Acceleration) Priority of Payments after delivery of a Loan Acceleration Notice.

  • Following the completion of each repurchase of the Obligor Account Assets in an Obligor Account by the Seller pursuant to this Section 5.7, all Collections paid and payable with respect to such Obligor Account from and after the applicable repurchase date will be the property of the Seller.

  • Upon payment of such amount, any incorrectness in any representation or warranty related to such Obligor Account shall be deemed to have been rectified.

  • The new data structure storing the received accept messages is initialized to the empty set (line 11).

  • All proceeds of the sale or other disposition of any Collateral, shall be deposited directly into the applicable Obligor Account.

  • The purchase price for the applicable Assigned Obligor Account Assets shall be composed of: (i) an immediate cash payment to the Seller in the amount of the applicable Asset Purchase Price, and (ii) a deferred amount which shall be payable to the Seller as Deferred Asset Purchase Price.


More Definitions of Obligor Account

Obligor Account shall have the meaning assigned to it on ANNEX C.
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Related to Obligor Account

  • Mortgagor Accounts As defined in Section 3.07(a) of this Agreement.

  • Note Account As defined in the Indenture.

  • Debt Service Account means the Debt Service Account for General Obligation Temporary Notes, Series 2017-1 (within the Bond and Interest Fund) created pursuant to Section 501 hereof.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

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

  • Segregated Account means a client bank account as defined by and held in accordance with the Applicable Regulations.

  • Direct Account : means any Account which is not an ISA Account.

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Investment Account As defined in Section 3.12(a).

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

  • 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.

  • ABLE account or "account" means an account established

  • Project Account means the account referred to in Section 3.03 of this Agreement;

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

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

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

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

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Administration Account As defined in Section 7.02.

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

  • Qualified Account means an Account owing solely to the Company which meets the following requirements at the time it comes into existence and continues to meet the same until collected in full: (a) it arose from the performance of services by the Company, or from a bona fide sale or lease of goods, which have been delivered or shipped to an Account debtor in the United States, to Volvo, or a foreign debtor which has issued a transferable letter of credit acceptable to the Bank to secure payment, and for which the Company has genuine invoices, shipping documents or receipts; (b) it is not more than 60 days past due; (c) it is not owed by an Account debtor which has 50% or more of its aggregate dollar amount of Accounts owed to the Company unpaid more than 90 days past the earlier of performance of the services, delivery of goods or date(s) of invoice; (d) it is owned by the Company and not subject to any assignment, claim, lien, encumbrance or security interest whatsoever other than those securing the Company's obligations to the Bank; (e) it is a valid and legally enforceable obligation of an Account debtor which is (i) satisfactory to the Bank, (ii) not an Affiliate of the Company and (iii) not the United States of America or any department, agency or instrumentality thereof unless the Company has complied with the Assignment of Claims Act of 1940, to the satisfaction of the Bank; (f) it is not subject to setoff, counterclaim, credit allowance, or adjustment by the Account debtor thereunder, except for discount for prompt payment, or to any claim by such Account debtor denying liability thereunder in whole or in part, and such Account debtor has not refused to accept and has not returned or offered to return any of the goods which are subject to such Account; (g) it arose in the ordinary course of the Company's business and in compliance with all Requirements of Law; (h) the Company has no notice or knowledge of the bankruptcy, insolvency, or similar proceeding of the Account debtor thereunder, or of the inability of the Account debtor thereunder to pay its debts as they become due, or of anything which might impair the credit standing of the Account debtor; (i) it is assignable to the Bank and it does not arise out of a contract or order which by its terms forbids or makes void or unenforceable the assignment by the Company to the Bank of the Account arising with respect thereto; (j) it is not evidenced by instruments or chattel paper unless the same has been endorsed and delivered to the Bank; (k) it does not arise from a sale on consignment, sale on return, bill and hold sale or any other type of conditional sale except as perxxxxed in writing by the Bank; and (l) it is certified by the Company within fifteen days after the end of each month (or at such more frequent intervals as the Bank shall request) as to the amount thereof and all other matters set forth herein or reasonably required by the Bank. A Qualified Account which subsequently fails to meet any of the foregoing requirements, shall forthwith cease to be a Qualified Account.

  • Retirement Accounts has the meaning ascribed thereto in Section 2.1(F)(7) hereof.

  • Collection Account Control Agreement means that certain Account Control Agreement, dated as of the date hereof, by and among Seller, Buyer, and U.S. Bank National Association, in form and substance acceptable to Buyer, as the same may be amended, restated, supplemented or otherwise modified from time to time, and which shall provide for Buyer control of the Collection Account as of the date of execution.

  • Eligible Deposit Account means either (a) a segregated account with an Eligible Institution or (b) a segregated trust account with the corporate trust department of a depository institution organized under the laws of the United States of America or any one of the states thereof or the District of Columbia (or any domestic branch of a foreign bank), having corporate trust powers and acting as trustee for funds deposited in such account, so long as any of the securities of such depository institution shall have a credit rating from each Rating Agency in one of its generic rating categories that signifies investment grade.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Lockbox Account shall have the meaning set forth in Section 2.7.1 hereof.