Offshore Collection Account has the meaning given to it in Clause 22.10 (Accounts).
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.
Offshore Collection Account has the meaning assigned to it in the Offshore Accounts Agreement;
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.
Project revenues payable outside of Ecuador, together with other amounts, including from the Onshore Regulated Fees Collection Account, are transferred to the Offshore Collection Account.
Any amounts remaining in the Offshore Collection Account after making the applicable transfers specified above shall remain in the Offshore Collection Account and may, on any date within a Restricted Payment Period, be transferred to the Distribution Account subject to the satisfaction of certain conditions.
More Definitions of Offshore Collection Account
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).
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...
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:
Offshore Collection Account means the following bank accounts established with the Offshore Collection Account Bank for the purpose of receiving Dollar denominated payments due to each of the following Borrowers and their Subsidiaries under their respective Eligible Contracts:
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.
Offshore Collection Account is defined in Clause 6.1(a) .
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.