Offshore Collection Account definition

Offshore Collection Account has the meaning given to it in Clause 22.10 (Accounts).
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Offshore Collection Account means the account designated as such bearing the account number to be advised by the Offshore Account Bank to the Agent and the Borrower in the name of the Borrower opened with the Offshore Account Bank (as such account may be re-designated, substituted or replaced from time to time).
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Offshore Collection Account means the collective reference to (i) commercial deposit account (A/C No. 100131528), (ii) commercial deposit account (A/C No. 100131498), (iii) commercial deposit account (A/C No. 100131501) and (iv) commercial deposit account (A/C No. 100131517) established by each of PEMI, DMLP, Talon and TAT, respectively, with the Offshore Collection Account Bank for the purpose of receiving Dollar denominated payments due to each respective Borrower and its Subsidiaries under any Eligible Contract.
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Examples of Offshore Collection Account in a sentence

  • If the Majority Lenders are satisfied that a Borrower is likely to receive Dollar denominated payments under any Eligible Contract, such Borrower shall promptly establish and maintain its Offshore Collection Account and execute the relevant Swiss Security Documents within such timeframe as the Majority Lenders may reasonably specify.

  • The Borrower shall procure that all revenues received by it are paid into the Offshore Collection Account and to the extent not already in dollars shall be converted by the Offshore Account Bank in accordance with Clause 10 (Currencies).

  • Decisions of the Committee on all matters relating to the Plan, any Award granted under the Plan and any Grant Agreement shall be in the Committee’s sole discretion and shall be conclusive and binding on the Company, all Participants and all other parties, unless an arbitration or other provision is expressly provided in a Participant’s Grant Agreement.

  • The Borrower hereby gives notice to the Offshore Account Bank of the Security granted by the Borrower to the Finance Parties over the Offshore Collection Account and the Debt Service Reserve Account and the Offshore Account Bank acknowledges the same.

  • It is not required under the laws of the PRC to make any deduction for or on account of Tax from any payment it may make under any Finance Document, provided that such payments are sourced from the Offshore Collection Account maintained in London.

  • For the sole purposes of facilitating the remission of Dollars from the Offshore Collection Account, the conversion of such Dollars into Roubles, the payment of amounts referred to in Clause 6.1(d) and for the purpose of receiving any proceeds in Dollars from the sources referred to in Clause 6.2(e) the Borrower shall establish an account denominated in Dollars (the "Moscow Dollar Account") in Moscow in the name of the Borrower with the Project Account Bank (Moscow).

  • The Borrower shall instruct the Moscow Account Bank to transfer funds from the Moscow Dollar Account to the Moscow Rouble Account equal to a percentage (not in excess of ten percent (10%)) of the Rouble equivalent of the Dollar proceeds remitted from the Offshore Collection Account to the Moscow Dollar Account pursuant to the last paragraph of Clause 6.1(b).

  • Funds deposited into the Offshore Collection Account shall be transferred to the Offshore Debt Service Account and/or the Moscow Dollar Account in accordance with the terms of this Clause 6 promptly upon receipt of the same in the Offshore Collection Account (and, in any event, within one (1) Business Day after receipt thereof).

  • The Borrower shall ensure that all proceeds of the sale of Production pursuant to the Sales Agency Agreement and Offtake Agreement are promptly deposited into an account denominated in Dollars (the "Offshore Collection Account") established in London in the name of the Russian Sales Agent with the Project Account Bank (Offshore).

  • For the sole purpose of facilitating the payment of indebtedness outstanding hereunder from amounts on deposit in the Offshore Collection Account the Borrower shall establish an account denominated in Dollars (the "Offshore Debt Service Account") established in London by the Borrower in the name of the Borrower with the Project Account Bank (Offshore).


More Definitions of Offshore Collection Account

Offshore Collection Account has the meaning assigned to it in the Offshore Accounts Agreement;
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Offshore Collection Account means the commercial deposit account to be established by each Target with the Offshore Collection Account Bank pursuant to Section 6.14(d) for the purpose of receiving Dollar denominated payments due to such Target under each Eligible Contract.
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Offshore Collection Account means the offshore bank account opened in Mauritius and maintained by the Company with the PXF Facility Agent in accordance with the PXF Facility Agreement and includes any interest of the Company in any replacement account or any sub-division or sub-account of that account. "Opex Forecast" has the meaning given to that term in Clause 6.2.1 (Payments prior to enforcement). "Opex Forecast Amount" has the meaning given to that term in Clause 6.2.3(A) (Payments prior to enforcement). "Opex Reserve Account" means the account to be opened in the name of the Company with Zenith Bank and the details of which shall be communicated by the Company to all parties within 15 days of the date hereof. "Party" means a party to this Deed. "Public Official" means an elected or appointed official, employee or agent of any national, regional or local government/state or department, agency or instrumentality of any such government/state or any enterprise in which such a government/state owns, directly or indirectly, a majority or controlling interest; an official of a political party; a candidate for public office; and any official, employee or agent of any public international organisation. "PXF Debt Service Amount" means, in respect of a Financial Quarter, the scheduled debt service payment for that Financial Quarter set out in the PXF Repayment Schedule, as may be required to be updated from time to time. "PXF Facility Acceleration Event" means, the PXF Agent exercising any of its rights under clause 28.25 (Acceleration) paragraphs 28.25.1 to 28.25.5 of the PXF Facility Agreement. "PXF Facility Agreement" means the facility agreement dated on or about the date of this Deed between, amongst others, the Parent, the Company and the Second Creditors in the total aggregate principal amount as at the date of this Agreement equal to USD100,000,000, the purpose of which is to finance the capital expenditure programme for the development of OYO 9, OYO 7 or any other xxxxx in OYO fields within OML 120 or OML 121. "PXF Finance Documents" means the PXF Facility Agreement, the PXF Security Agreements, this Deed and each other agreement entered into by the Company and/or the Parent and the PXF Facility Agent in connection with the PXF Facility Agreement and the PXF Security Agreements. "PXF Repayment Schedule" means the repayment schedule relating to the PXF Finance Documents as at the date of this Deed and as set out in Schedule 5 (PXF Repayment Schedule). "PXF Security" means any Secur...
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Offshore Collection Account means the offshore bank account opened in Mauritius and maintained by the Company with the PXF Facility Agent in accordance with the PXF Facility Agreement and includes any interest of the Company in any replacement account or any sub-division or sub-account of that account.
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Offshore Collection Account is defined in Clause 6.1(a) .
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Offshore Collection Account means each account of the Borrower with a bank located in jurisdiction other than Singapore (which such bank must be an Arranger (or an Affiliate of an Arranger), to the extent it has an office in that jurisdiction and is able to provide the banking/cash management services required by the Borrower on customary market terms) into which Integrated Resort Revenues will be deposited and designated as an “Offshore Collection Account” by the Borrower and Agent, provided that:
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Related to Offshore Collection Account

  • 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.

  • 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.

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

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

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

  • Finance Charge Account is defined in Section 4.9(a).

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

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

  • Principal Account as set forth in the Standard Terms and Conditions of Trust shall be replaced with the term "Capital Account."

  • 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.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) may be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

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

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Principal Accumulation Account means the account designated as such, established and owned by the Issuer and maintained in accordance with Section 4.2.

  • 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.

  • 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 Accounts As defined in Section 3.10(a).

  • Prefunding Account The separate Eligible Account created and maintained by the Trustee pursuant to Section 3.06(g) in the name of the Trustee for the benefit of the Certificateholders and designated “U.S. Bank National Association, in trust for registered holders of Home Equity Asset Trust 2004-2, Home Equity Pass-Through Certificates, Series 2004-2. Funds in the Prefunding Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement and shall not be a part of any REMIC created hereunder; provided, however, that any investment income earned from Permitted Investments made with funds in the Prefunding Account shall be for the account of the Depositor.

  • Note Account As defined in the Indenture.

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales, dispositions or securitizations attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees or other amounts received in respect of Loan Assets.

  • 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.

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

  • Unallocated Principal Collections shall have the meaning specified in subsection 4.05(d).

  • Principal Collections means Collections of Principal Receivables.

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