Principal Collection Subaccount definition

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

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Principal Collection Subaccount means the account established at the Account Bank with account number ▇▇▇▇▇▇▇▇ for U.S. Dollar deposits into which Principal Collections shall be segregated, and each other subaccount of the Collection Account that may be established from time to time for administration or convenience into which Principal Collections are to be segregated.

Principal Collection Subaccount. The account established pursuant to Section 10.2(a).

Examples of Principal Collection Subaccount in a sentence

In the event of any shortfall in the Revolver Funding Account, the Collateral Manager (on behalf of the Issuer) may direct the Trustee to, and the Trustee thereafter shall, transfer funds in an amount equal to such shortfall from the Principal Collection Subaccount to the Revolver Funding Account.
At any time, the Collateral Manager on behalf of the Issuer may by Issuer Order direct the Trustee to, and upon receipt of such Issuer Order the Trustee shall, withdraw funds on deposit in the Principal Collection Subaccount representing Principal Proceeds and deposit such funds in the Revolver Funding Account to meet funding requirements on Delayed Drawdown Collateral Obligations or Revolving Collateral Obligations.
On the Effective Date or upon the occurrence of an Event of Default (and excluding any proceeds that will be used to settle binding commitments entered into prior to such date), the Trustee will deposit any remaining amounts in the Ramp-Up Account into the Principal Collection Subaccount as Principal Proceeds.
Except to the extent expressly provided otherwise herein, all interest and other income from such investments shall be deposited in the applicable Account and transferred to the Interest Collection Subaccount, any gain realized from such investments shall be credited to the applicable Account and transferred to the Principal Collection Subaccount upon receipt, and any loss resulting from such investments shall be charged to the Principal Collection Subaccount.

More Definitions of Principal Collection Subaccount

Principal Collection Subaccount. The Collateral Agent shall from time to time deposit into the Interest Collection Subaccount, in addition to the deposits required pursuant to Section 8.06(a), promptly upon receipt thereof, all Interest Proceeds received by the Collateral Agent and identified as such by the Servicer. The Collateral Agent shall deposit promptly upon receipt thereof all other amounts remitted to the Collection Account into the Principal Collection Subaccount including, in addition to the deposits required pursuant to Section 8.06(a), all Principal Proceeds (unless simultaneously reinvested in additional Collateral Loans in accordance with Article X or in Eligible Investments or required to be deposited in the Revolving Reserve Account pursuant to Section 8.04) received by the Collateral Agent and identified as such by the Servicer. All Monies deposited from time to time in the Collection Account pursuant to this Agreement shall be held by the Collateral Agent as part of the Collateral and shall be applied to the purposes herein provided. Subject to Section 8.02(c), amounts in the Collection Account shall be reinvested pursuant to Section 8.06(a). Other than as expressly set forth herein, the Collateral Agent shall from time to time deposit into the Collateral Account any Collateral that is capable of being delivered to and held by the Securities Intermediary and credited to an account in accordance with the terms of this Agreement and the Account Control Agreement.

Principal Collection Subaccount is defined in Section 7.4(e).

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

Principal Collection Subaccount means, collectively, the account designated as “USD Principal Collection Account” (with account number ▇▇▇▇▇▇▇▇), the account designated as “DIAMETER CCH II-PRINCIPAL – CAD” (with account number ▇▇▇▇▇▇▇▇), the account designated as “DIAMETER CCH II-PRINCIPAL – EUR” (with account number ▇▇▇▇▇▇▇▇) and the account designated as “DIAMETER CCH II-PRINCIPAL – GBP” (with account number ▇▇▇▇▇▇▇▇), into which such accounts Principal Collections shall be segregated.

Principal Collection Subaccount. The Collateral Agent shall from time to time deposit into the Interest Collection Subaccount all Interest Proceeds received by the Collateral Agent. The Collateral Agent shall deposit promptly upon receipt thereof all Principal Proceeds (unless simultaneously reinvested in additional Collateral Loans in accordance with Article X or in Eligible Investments or required to be deposited in the Unfunded Reserve Account pursuant to Section 8.04) received by the Collateral Agent. All Monies deposited from time to time in the Collection Account pursuant to this Agreement shall be held by the Collateral Agent as part of the Collateral and shall be applied to the purposes herein provided. Subject to Section 8.02(c), amounts in the Collection Account shall be reinvested pursuant to Section 8.06(a).

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

Principal Collection Subaccount. The Collateral Agent shall from time to time deposit into the Interest Collection Subaccount, in addition to the deposits required pursuant to Section 8.05(a), immediately upon receipt thereof all Interest Proceeds received by the Collateral Agent. The Collateral Agent shall deposit immediately upon receipt thereof all other amounts remitted to the Collection Account into the Principal Collection Subaccount including, in addition to the deposits required pursuant to Section 8.05(a), all Principal Proceeds (unless simultaneously reinvested in additional Loans in accordance with Article X or in Eligible Investments or required to be deposited in the Revolving Reserve Account pursuant to Section 8.04) received by the Collateral Agent. In addition, for each Approved Foreign Currency, the Borrower shall establish at the Intermediary segregated sub-accounts that each constitute a Principal Collection Subaccount and Interest Collection Subaccount for each Approved Foreign Currency. Any amounts received by the Collateral Agent that are denominated in an Approved Foreign Currency that are required to be deposited into the Principal Collection Subaccount or the Interest Collection Subaccount shall be deposited by the Collateral Agent into the Principal Collection Subaccount or Interest Collection Subaccount for such Approved Foreign Currency, as applicable. All Monies deposited from time to time in the Collection Account pursuant to this Agreement shall be held by the Collateral Agent as part of the Collateral and shall be applied to the purposes herein provided. Subject to Section 8.02(c), amounts in the Collection Account shall be reinvested pursuant to Section 8.05(a). It is hereby understood and agreed that, notwithstanding the establishment of Principal Collection