Principal Collection Account definition

Principal Collection Account means a segregated, non-interest bearing securities account (within the meaning of Section 8-501 of the UCC) number 172148-202, which is 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, which is established and maintained pursuant to Section 8.1(a).

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.

Principal Collection Account means a sub-account (account number 787456-202 at the Bank) of the Collection Account into which Principal Collections shall be segregated.

Examples of Principal Collection Account in a sentence

• On each Payment Date, amounts in the Interest Collection Account and the Principal Collection Account shall be applied to make the payments and disbursements described in Section 2.7 or 2.8, as applicable.

• Notwithstanding the foregoing, the Collateral Agent is hereby authorized to establish one or more subaccounts of the Collection Account, one of which shall be designated the "Interest Collection Account" and the other the "Principal Collection Account" and which together will comprise the "Collection Account" for all purposes of this Agreement and the Account Control Agreement.

• Any amounts received by the Collateral Custodian that are denominated in an Approved Foreign Currency that are required to be deposited into the Principal Collection Account or the Interest Collection Account shall be deposited by the Collateral Custodian into the applicable Principal Collection Account or Interest Collection Account, as applicable, for an Approved Foreign Currency.

• In addition, for an Approved Foreign Currency, the Collateral Custodian shall, on or after the date hereof, establish segregated accounts that each constitute a Principal Collection Account and Interest Collection Account for an Approved Foreign Currency.

More Definitions of Principal Collection Account

Principal Collection Account means the account designated as such, established and maintained pursuant to Section 5.01(a)(i) hereof.

Principal Collection Account has the meaning assigned to such term in Section 8.02(a).

Principal Collection Account means a collective reference to the Securities Accounts created and maintained on the books and records of the Securities Intermediary identified as principal collection accounts in the name of the Borrower and subject to the Lien of the Administrative Agent for the benefit of the Secured Parties.

Principal Collection Account. The trust account established pursuant to Section 10.2(a) hereof.

Principal Collection Account. The account or accounts so designated and established pursuant to Section 10.3(a).

Principal Collection Account means the Subordinated Note Principal Collection Account and the Secured Note Principal Collection Account, collectively.

Principal Collection Account has the meaning specified in Section 3(a).