Proceeds Accounts definition

Proceeds Accounts means an account or accounts prescribed by the Bank and opened and maintained or to be opened and maintained by the Assignor with the Bank into which all the Contract Proceeds payable under or relating to the respective Contracts shall be paid and credited as soon as the same or any part thereof shall be or become payable to the Assignor or received by or on behalf of the Assignor under the terms of the respective Contracts; and the term “Proceeds Account” shall be construed accordingly.

Proceeds Accounts means a SEK and a EUR bank account of the Issuer into which the Net Proceeds from the Initial Bond Issue will be transferred and which has been pledged in favour of the Agent and the Bondholders (represented by the Agent) under the Proceeds Account Pledge Agreement.

Proceeds Accounts means any and all accounts established and maintained by the Escrow Agent in the name of the Borrower, established pursuant to the Escrow Agreement, for the deposit of proceeds of the Collateral.

Examples of Proceeds Accounts in a sentence

• If any Notes retained by the Depositor or an Affiliate of the Depositor on the Closing Date are subsequently sold to third parties, the Seller shall deposit, into one or more Proceeds Accounts, an amount equal to the net proceeds of such subsequent sale.

• The names and addresses of the Lockbox Bank, together with the account numbers of the Lockbox Account, the Collection Account, the Equipment Replacement Reserve Account, the Borrower’s Account, the Loan Proceeds Accounts, the Takeout Transaction Account and the Liquidity Reserve Account are specified on Schedule II attached hereto, as updated pursuant to Section 5.1(Q).

• Any unused amounts on deposit in the Proceeds Accounts may be invested by the Seller, from time to time, in money market investments.

• Until such time as the amounts required to be deposited into the Proceeds Accounts pursuant to the terms of this Section 5.15 have been used in their entirety, the Seller shall certify to the Indenture Trustee on a monthly basis with respect to its use of such amounts for the prior calendar month and since the Closing Date, including the amount used to finance each Qualifying Model and any such amount remaining unused in the Proceeds Accounts.

• For the avoidance of doubt, the Proceeds Accounts are not required to be established or maintained with the Indenture Trustee.

More Definitions of Proceeds Accounts

Proceeds Accounts means the Seller’s accounts so named specified in the Account Details or such other account or accounts as may be named the “Proceeds Accounts” in accordance with the terms of Part 4 of Schedule 1 to the Servicing Agreement;

Proceeds Accounts means the Proceeds Accounts established under and as defined in each of the Note Purchase Agreements.

Proceeds Accounts means the Company’s accounts with Bank of China (Hong Kong) Limited in the HKSAR (multi-currency savings account no.012-352-92-00652-0 and HK$ current account no.012-352-0-00800-6) or such other account(s) as the Collateral Agent may specify from time to time;

Proceeds Accounts means one or more blocked, non-interest bearing deposit accounts in the name of the Borrower or TMI held at a commercial bank acceptable to the Administrative Agent, each of which is subject to an Account Control Agreement and otherwise established in a manner satisfactory to the Administrative Agent.

Proceeds Accounts has the meaning given to that term in Clause 19.3 (Proceeds Accounts).

Proceeds Accounts means, each of the Dollar account and the Euro account of the Security Trustee with Credit Lyonnais designated by the Security Trustee to which any Proceeds will be credited or such other account as the Security Trustee may designate from time to time by notice to the other parties hereto.

Proceeds Accounts means the Partnership Funds Account, the Subordinated Notes Proceeds Account and the Mortgage Notes Proceeds Account.