Principal Collection Account definition

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.

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

Examples of Principal Collection Account in a sentence

Upon the satisfaction of the applicable conditions set forth in this Section 2.18Section 2.18 (as certified by the Borrower to the Collateral Agent and the Administrative Agent), the Collateral Agent will release funds from the Principal Collection Account as directed by the Collateral Manager in an amount not to exceed the lesser of (A) the amount requested by the Collateral Manager and (B) the amount on deposit in the Principal Collection Account on such day.
The Collateral Manager shall report the amount of Principal Collections and Interest Collections on deposit in the Principal Collection Account and the Interest Collection Account, in each case on each Quarterly Reporting Date, in the Collateral Manager Report delivered pursuant to Section 6.08(b)Section 6.08(b).

More Definitions of Principal Collection Account

Principal Collection Account means a sub-account of the Collection Account established pursuant to Section 7.01.

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

Principal Collection Account means the account(s) established by the Securities Intermediary and set forth on the Transaction Schedule for the deposit of Principal Proceeds denominated in USD, and any successor accounts established in connection with the resignation or removal of the Securities Intermediary.

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

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

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

Principal Collection Account means the trust account established pursuant to Section 8.02(a)(ii).